‘Strong and fast’ bidding smashes reserve for dated Thornbury home


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53 Raleigh St, Thornbury was on the market for the first since the 1940s.

“Fast and strong” bidding has given the long-time owner of a Thornbury house $140,000 beyond reserve.

The 1940s home at 53 Raleigh St, which was on the market for the first time, fetched $1.44 million with seven bidders and just 17 bids.

It sold to a local family from a couple of streets away who will renovate and make it their forever home.

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The dated kitchen needs a makeover.

The living area was styled and staged for auction.

The four-bedroom home on 460sq m was considered large and attracted huge interest with 120 groups at inspections, Stockdale & Leggo Reservoir agent Aldo Verga said.

“We also had hour-long inspections on Sundays and also on Wednesdays and Saturdays to give buyers every chance and it paid off,” Mr Verga said.

The $1.44 million result on August 31 was well above the $1.3 million reserve price.

The bidding started low at $1 million but rose quickly to deliver a windfall for the vendor.

One of the four good-sized bedrooms.

The large backyard offers plenty of potential.

“It is rare to find a four-bedroom house on a larger than usual block on the market and this is why it had so much interest,” Mr Verga said.

It even had an interstate buyer from Sydney at the auction who wanted to move back to the neighbourhood.

Mr Verga said the low supply in Thornbury was creating more competition for properties.

The Raleigh St property has a great location close to tram stops and boutiques, eateries and cafes.

The house has freshly painted interiors, high ceilings, good-sized bedrooms and formal and casual living areas.

The north-facing backyard includes an alfresco space, garage with workshop, shed and a store room.

The median house price in Thornbury was $1.08 million in the year to May, according to CoreLogic data. It had declined 10.8 per cent over the period.

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