A Brunswick house that last sold for $75,000 in 1979 has fetched $1,553,000 after a bidding war erupted at auction on Saturday. A young family looking to upsize beat out four other bidders to secure 16 Canberra Street some $253,000 above its reserve. It was one of 409 auctions scheduled in Melbourne on Saturday.
The auction began with an opening bid of $1.2 million. The price was slowly driven up in $20,000 increments before being declared on the market at $1.
3 million. From that point on, Ray White listing agent Aaron Hill said, “it all went pretty crazy” with five bidders, all families, actively vying for the four-bedroom property. Bids became smaller as the price went up, with parties offering up increments of $5000, $3000 and eventually $1000.
16 Canberra St Brunswick sold for $1.553m at auction on Saturday. Credit: Penny Stephens It came down to two bidders in the end, with a local family winning the keys to the home.
Hill said the ultimate buyers jumped up in the air and hugged each other when the hammer finally fell. Hill said the vendors, who watched from the back of the crowd, were emotional about saying goodbye to the home, which had been in their family for 45 years, but were happy with the sale price. Ray White Brunswick auctioneer Jamie Allouche bought down the hammer at $1.
553 million. Credit: Penny Stephens “The vendors were crying, it’s been in the family since day one, so they’re all pretty happy [with the result],” he said. In Derrimut, another y.
