A bright Fairfield pad sailed $140,000 above reserve in front of about 70 people who crammed into the backyard to watch.
The “massively transformed home with lots of colour” sold under the hammer for $1.34 million on July 13.
Jellis Craig Fitzroy agent Lee Muddle attributed the strong sale of the circa-1950s weatherboard to its north-facing orientation, functional floorplan and a lack of stock on the market.
“The energy-efficient home was nicely done. The house isn’t massive, but there is potential to extend a bit further,” Mr Muddle said.
“Good quality homes are hard to find at the moment … so the auction was very competitive with three bidders.
“The opening bid was at the top end of the range, which scared a few people. A young family with two girls bought it, while the other two bidders were professional couples in their 30s.
“The underbidder was pretty gutted that they missed out, as the light really drew them to it.
“There was also a big garden for their dog.”
Next to the entrance are two bedrooms, including one with a long walk-in wardrobe.
Behind the modern and central bathroom is the open-plan living room and AEG and Miele-equipped kitchen. It extends to the large deck and garden.
Other amenities include double-glazed windows, hydronic heating, rainwater tank and retractable sunblinds.
Mr Muddle said the sale price increase, from $715,000 in April 2011, was due to the renovation, and the movement of the market.
“Most people (who bought a home in that period) made money from that point,” Mr Muddle said.
“The vendors are now looking for a larger family home.”
About 51 houses sold in Fairfield in the 12 months to April, with a median selling price of $1.15 million, according to CoreLogic data.