First-home buyers win the day at Flemington, Kensington, St Kilda auctions

A YOUNG woman will move out of mum and dad’s house into a Flemington unit after beating three other buyers to it at auction, as first-home buyers also won properties in Kensington and St Kilda.

2/18-20 Brighton St, Flemington was snapped up by a first-home buyer.

A YOUNG woman will move out of mum and dad’s house into a Flemington unit after beating three other buyers to the popular property at auction.

Her new home — a two-bedroom ground-floor abode with a large courtyard and car park — was on the market from the opening bid of $500,000, Nelson Alexander Flemington selling agent Julie Adams said.

The hammer came down on 2/18-20 Brighton St at $598,000.

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The ground-floor unit sold for almost $100,000 above reserve.

Its large courtyard was a drawcard.

Ms Adams said more than 100 groups inspected the property in the heart of Flemington during its auction campaign — most of them first-home buyers, with a couple of investors thrown in.

It had been quoted at $460,000-$500,000.

“The first-home buyer market is probably the strongest at the moment. Everything under $600,000 is selling well,” she said.

The unit offered two bedrooms.

It attracted four bidders.

Another first-timer had a win in neighbouring Kensington, securing an Art Deco house at 51 Derby St under the hammer for $770,000 — well below the inner suburb’s median house price of $1.033 million.

The North Melbourne man paid $20,000 above reserve and fended off one other bidder to win the two-bedroom brick pad.

Nelson Alexander’s Ryan Currie said the property with an “unusual facade” and in “a good part of Kensington” had been kept as an investment and barely altered since its last sale in 1994. CoreLogic records show it fetched $118,500 then.

51 Derby St, Kensington was also picked up by a first-time buyer.

Inside 51 Derby St.

“There’s a lot you could do to it, but it’s liveable now,” he said.

“(The buyer) wanted to get into the market with a house, as it’s a better alternative to an apartment.”

In St Kilda, three first-home buyers competed for a two-bedroom Art Deco apartment at 3/34 Barkly St.

The property passed in at $526,000 but sold minutes later for $530,000, McGrath, St Kilda principal Michael Townsend said.

Inside 3/34 Barkly St, St Kilda.

Originally published as First-home buyers win the day at Flemington, Kensington, St Kilda auctions