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The inner-west home was in need of renovations but drew bidding from three buyers attracted to its exclusive address.

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The buyers beat two other bidders for the inner-north apartment, which was redesigned by Melbourne architects Rexroth Mannasmann Collective.

The winning bidders were buying through their daughter, who lives locally, and triumphed over downsizers to buy the renovated Victorian.

A key metric has revealed buyers could face more competition when buying at auction, after rate cuts gave the property market a shot of confidence.

Some home sellers wanted $100,000 or more above their advertised price guide, creating false hope for buyers.

The inner-city home boasts parking and multiple living areas but despite this, the auction didn’t get off the ground.

The well-maintained home’s large block size proved popular with buyers who fought it out in a “crazy auction”.

A 1890s period house in Melbourne’s inner west sold well above expectations to a couple who beat out three other parties at auction on Saturday.

The three-bedroom home close to Princes Park sold under the hammer for $3.27 million, handing the sellers much more than they had hoped.

Three bidders, all with their hearts set on a grand Edwardian, traded nearly 100 bids to push the price to well past the vendor’s expectations.