First home buyers outbid investor for $1.73 million Parkville home

Sydney Morning Herald

3 days ago

A young first-home-buyer couple outbid an investor for the keys to a double-fronted Victorian home in Parkville, paying $1.73 million at Saturday's auction.
The four-bedroom, one-bathroom property at 62 Morrah Street was listed with a price guide of between $1.6 million to $1.7 million. The reserve was set at $1.7 million.
The auction attracted a crowd of about 70 people, Nelson Alexander Carlton selling agent Robert Enes said, with bidding kicking off at $1.6 million.
'The winners were young home buyers from Richmond,' Enes said. 'It was a first home for [the couple], they were looking to do a renovation and make it their own.'
The home's flexible floor plan was a drawcard, he said, as well as its central location between Lygon Street and the Carlton village.
'[There is also] a tram connecting to Melbourne markets, and then you've got parks on your doorstep as well as the universities and hospitals,' Enes added.
The property was one of 722 scheduled to go to auction in Melbourne last week. By evening, Domain Group recorded a preliminary auction clearance rate of 72.9 per cent from 550 reported results throughout the week, while 41 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
A house in Melbourne's inner west sold for $1,146,000 under the hammer after being in the same family for decades.