18-year-old snaps up his first home in Melbourne’s north under the hammer

An 18-year-old managed to secure his first home on Saturday when a house in Coolaroo went under the hammer, owned by the same family for 55 years. SEE MORE.

3 Almurta Ave, Coolaroo sold under the hammer.

An 18-year-old snapped up his first home for $70,000 above the reserve price at its Saturday auction.

The four-bedroom house at 3 Almurta Ave, Coolaroo, which was owned by the same family for 55 years, went under the hammer and sold for $670,000.

It was listed with a $550,000-$600,000 price guide and there were nine bidders on the day – four groups participating online from Sydney and Brisbane, and five local bidders.

RELATED: An extra $50 scores Cheltenham home at auction

Bentleigh apartment sells under the hammer

Aussie artist and gardener’s globally renowned estate for sale

Evelyn, who was one of the three daughters selling the home of their late mother, said the sale was bittersweet, but she was still happy with the result.

A spacious living area.

The studio in the backyard.

She added that it was lovely that the 18-year-old had purchased the property as he looked really proud of himself.

“It was a beautiful sight,” she said. “It’s his first home.

“I spoke to the dad and he said … they looked at the house, and the son looked at the house, and they just had a feeling that this was the house for him.”

Evelyn said four generations had lived in the house at different times over the more than 50 years the property was owned by the family, including her grandparents and nephew.

“Once grandma passed my father moved in, and while he was living there, myself and my husband, and my three children – my eldest and my twins – moved in, so that made up the four generations,” she said.

“Mum and Dad always had the house open for everybody.

“Growing up, all the parties, like the Christmas parties, my engagement party, Easter’s, Mother’s Days (were all held at the home).”

The kitchen fitted with timber cabinets.

The auction began with a vendor bid of $550,000 and then climbed in $10,000 and $1000 increments until it sold for $670,000.

Ray White Pascoe Vale principal Stefan Stella said consumer confidence was making its way back into the property market, something that had been happening since the beginning of the year.

“We are definitely seeing a lot more activity, a lot more buyers out there, that’s for sure,” Mr Stella said.

“The majority of my opens (property inspections) have gone up 100 per cent in terms of boots through the door. That’s a lot.”

The mid-century home sits on a 617sq m block and has a separate studio nestled in its back yard.

---

Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.

MORE: Chadstone family auctions off Armadale abode

Surprise suburbs where Victorians have paid off their homes

Future of abandoned graffitied Melb mansion revealed

[e-mail]

Originally published as 18-year-old snaps up his first home in Melbourne’s north under the hammer