Why this Yarraville home is still the one to watch after passing in at auction
A Yarraville home with a rare offer drew plenty of interest at its Valentine’s Day auction, but the result surprised many. Now, buyers are making their move.
A Yarraville home that went under the hammer on Valentine’s Day night is still searching for its perfect match, with buyers showing renewed interest over the weekend.
The three-bedroom house at 4 Love St includes a self-contained granny flat, effectively making it a four-bedroom, two-bathroom residence. The 446sq m block offers scope to extend or redevelop, making it a standout opportunity in one of Yarraville’s most sought-after areas.
Vendors Matt and Ivonne Ferguson bought the home as their first owner-occupied property and have loved raising their two young children there.
RELATED: Ex-Roo’s Melb move complete to join Dimma on Gold Coast
Melbourne buyers risk missing out amid anticipated rate cut
Aussie clothing store worker buys 17 homes in one year
“Yarraville has an amazing community feel,” Mr Ferguson said.
“The neighbours are fantastic, the schools are great, and it’s been a wonderful place for our family.”
Since moving in, the couple has completed various renovations and discovered hidden quirks, including a secret bathroom door tucked inside a cupboard and a gallery-sized painting left behind by the previous owners.
“It’s been a fantastic home, but we’re ready for a change — maybe somewhere a bit warmer,” he said.
The property was auctioned on February 14, drawing a strong crowd, but bidding remained cautious.
It passed in within its $1.1m-$1.2m price guide, with post-auction negotiations now underway.
O’Brien Seddon director Peter Gindy said the Valentine’s Day auction was a fun way to generate interest.
“A Love Street auction on Valentine’s Day night? It made perfect sense,” Mr Gindy said.
“It definitely helped bring more attention to the home.”
Mr Gindy said buyers have continued to show interest over the weekend, with at least one potential buyer returning for a second inspection with their partner.
“That’s always a good sign,” he said.
“It means they’re seriously considering it.”
A rare 12-month settlement option has also drawn attention, particularly from buyers needing flexibility to finalise finances or sell their existing property.
Mr Gindy said he has had interest from buyers who need extra time to secure a loan, complete visa paperwork, or sell their current home.
The settlement option allows them to lock in the purchase now without the pressure of moving immediately.
The home remains available for private sale to buyers with negotiations continuing.
And after a Valentine’s Day night auction, it may not be long before 4 Love St finds its perfect match.
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: Inside Oprah Winfrey’s childhood homes
Five-time Melbourne Cup winner puts $12m acreage up for sale
ABC TV personality’s $8m mansion back on market after one month
david.bonaddio@news.com.au
Originally published as Why this Yarraville home is still the one to watch after passing in at auction
Rate roller coaster: What Victorians need to know about RBA move
Long-suffering homeowners could be set for home loan repayment relief in as little as days. Experts have revealed what you should do after the Reserve Bank meets on Tuesday.
Werribee auction surprise: Why buyers wont back down
A bidding war in Werribee had buyers pushing the price higher than expected. What made this home so popular? The final result caught many by surprise.
18 per cent hike: Melb rent prices forecast to skyrocket
Alarming new research has revealed Melbourne’s rent prices could rise by as much as 18 per cent in some areas in the next 12 months. SEE WHICH SUBURBS.