Morning auction brings heated competition from first home buyers in family-friendly suburb

This family-friendly suburb saw ten bidders put their money on the line for their chance at a first home in the neighbourhood.

A three-bedroom, one-bathroom home in Wilston drew ten eager bidders on Saturday morning, fighting each other at auction to get their very first home.

The house at 1 Murray St saw a crowd of around thirty at the event, with five active bidders participating in the recently renovated home.

The property’s previous vendor had lived in the home while upgrading it, now sporting smooth timber flooring and a modernised bathroom.

1 Murray St, Wilston: a renovated character home that attracted ten registered bidders.

Bidding began at $1.1 million, with the five bidders swinging offers back and forth as the price of the home steadily climbed.

Ray White Ascot agent Andy Flanagan said the auction had “great momentum” as the price quickly moved up by $400,000.

The character home was soon at an offer of $1.5 million, which brought the active bidder count down to two.

Bidding climbed slowly but steadily after that, with bids ranging from $10,000 to the low thousands.

Only after around 20 bids did the auction finish, with the winning bidder claiming the home for $1.53m.

A crowd of around thirty people witnessed the auction for a more affordable home in the competitive suburb.

The median house price in Wilston is $1,862,500, making the home more than $300,000 cheaper than the median.

Mr Flanagan said the old owner’s renovations was one reason why around 50 groups inspected the home – but added Wilston itself had become a competitive suburb for buyers.

“I specialise in Wilston and there’s always been a lot of interest from buyers for the suburb,” he said. “I think the reason why Wilston has a lot of momentum is because it’s just as close to the city as those more expensive suburbs.”

Homes big enough for families that are close to the city are quickly being snatched up by competitive couples at auction.

With the final two bidders being a buyer from Sydney and a young professional couple, the young couple was able to win and secure a home for the two of them.

Mr Flanagan said proximity to accessible public transport and a family-driven community meant couples were often eager to get a foothold in the area.

“The majority of buyers were either first home buyers or upsizers,” he said. “Each year it becomes more competitive.”

Originally published as Morning auction brings heated competition from first home buyers in family-friendly suburb