Vincent St, Oak Park retro-style home snapped up before auction for $1.115 million

And despite the early sale, three buyers competed for the property.

With a price guide of $800,000-$860,000, the 1960s three-bedroom home at 4 Vincent St sold well above both its vendors’ and the sales agent’s expectations.

Brad Teal Pascoe Vale South sales agent Andrew Butler admitted he would have liked to take the property to auction, partly because he wanted to keep seeing it.

“But buyers really wanted it,” he said.

“A lot of people identified it as a really unique home.

“If you wanted a really cool pad, this was the place for it.

“And you couldn’t hide the fact that it had ripper city views.

“It ticked all the boxes.”

Mr Butler said someone came in with a high offer for the property, but there was strong competition from two other potential buyers.

“They all had offers of over $1 million and the initial buyer missed out,” he said.

“The price was well and truly above expectations.”

Mr Butler added that the home sold to a family.

CoreLogic figures reveal Oak Park median house prices have skyrocketed in recent months, soaring 16.3 per cent to $727,075 in the year to June, with 77 homes sold in the period.

SUBURB PROFILE: OAK PARK

BRUNSWICK BEAUTY

ANOTHER striking home in Brunswick with a price guide of $870,000-$950,000 has been snapped up before auction for $1.15 million.

The Victorian terrace at 48 Union St had undergone a renovation and expansion, but retained open fireplaces, high ceilings and polished hardwood floors.

Nelson Alexander Brunswick sales agent Jonathan West said there had been a “very, very good response” to the home, particularly from first-home buyers, investors and buyers looking for somewhere comfortable to live.

“A local couple purchased the property,” he said.

“They were downsizing and liked the location and the proximity to Sydney Rd.

“They also liked the big open-plan area at the back and the secure parking.”

SUBURB PROFILE: BRUNSWICK

RISK PAYS OFF

MEANWHILE, a real estate agent took a “calculated risk” when they sold a Pascoe Vale home prior to auction.

The three-bedroom house at 18 Dromana Ave hadn’t changed hands for 20 years, but sold for $810,000 five days before the planned October 22 auction.

Peter Leahy Real Estate principal Peter Leahy said he took a calculated risk to secure the best buyer for the vendor.

“A couple of buyers had indicated their interest but we wanted to get the vendor the best buyer,” he said.

“The buyer were a couple coming from the outer suburbs.

“The inner north is showing a great amount of value (to such buyers), more so than other inner areas, because of its many attributes.”

SUBURB PROFILE: PASCOE VALE

MILLION DOLLAR SALE

MEANWHILE, in Coburg, another renovated home appealed to buyers. The older weatherboard property sold for $1.027 million under the hammer on October 22.

Barry Plant Coburg sales agent Rocco Siciliano said three or four young couples vied for the three-bedroom home at 75 Soudan St on a particularly wet and windy day.

“It was a good turn out but a bit intense as everyone was inside,” he said.

The price guide for the home was $890,000-$940,000.

Mr Siciliano said the vendors planned to buy and renovate another home.

SUBURB PROFILE: COBURG