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House set for demolition sells for almost $1m more than its reserve

Sarah Webb

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A 1970s brick home in the Melbourne suburb of Hawthorn has sold for an eye-watering $3.801 million at auction after a young family obliterated the reserve by almost $1 million to claim the keys.

Looking more like a time capsule of a bygone era, the single-level, three-bedroom abode at 5 Kooyongkoot Road, sold under the virtual hammer on Saturday after three parties, from a pool of 20 who had signed up to bid, quickly pushed the price past the $2.95 million reserve.

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