Julia Gillard's Altona home goes under the hammer and fetches more than $250,000 over asking price

Gillard's house sells at auction 1:26

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Former PM Julia Gillards Altona home has sold for more than $250,000 over asking price

• Herald Sun
• 14 Dec 2013
• News

A crowd in the hundred's gathered to watch as the modest three-bedroom brick house that was once home to the Prime Minister of Australia went under the hammer.

After half an hour of back and forth bids, ranging from $100,000 to $1000, the property recorded a sale around $250,000 past its estimated range of $600,000 to $650,000.

Hundreds of people turned up to watch Julia Gillard’s home go up for auction. Photo: Chris Scott Source: News Limited

The winning bid came from a man to the left of the crowd wearing a navy cap, with about five bidders entering the fray.

Ms Gillard, who bought the home for about $140,000, stands to pocket as much as $780,000, minus repayment and renovation costs, from the sale.

Anna Grech, a real estate agent from Jas Stephens Williamstown, who handled the sale, told the Herald Sun the auction "was going to be what it was going to be".

Julia Gillard's former Altona home has sold at auction. Photo: Chris Scott Source: News Limited

"I'd worked hard on it, but I was nervous about it - mostly about the TV cameras," Ms Grech said.

Jas Stephens director Craig Stephens said he believed the sale was a record price for the street, and one of the longest auctions held in the suburb.

Ms Gillard has bought a $2 million beachside bungalow in Adelaide to be closer to her mother, sister and new niece.

After she was toppled by Kevin Rudd earlier this year, Ms Gillard famously promised to be "the most meddlesome great aunt in Australia's history".

She was also appointed an honorary professor of politics at the University of Adelaide.

Jas Stephens Auctioneer, Terry Fitzpatrick ran the auction of former PM Julia Gillard’s Altona home. Photo: Chris Scott Source: News Limited