An uncertain economy has weighed on the minds of homebuyers in Coburg North. But it didn’t stop them pushing a townhouse $67,000 past its reserve.
Six bidders emerged from a loose crowd of 40 to pursue a three-bedroom townhouse at 1B Convent Court.
After a $680,000 vendor bid got things rolling, rapid bidding passed the $740,000 reserve and drove the home to an $807,000 sale.
Maya Graham and Matthew Aston won the keys.
They said they had been nervous about bidding due to uncertainty in the economy caused by COVID-19, but were happy to end their four-month search.
“This week is the first week we have been conscious of it (COVID-19 safety measures), and we did have some reservations,” Mr Aston said.
“But we set a conservative limit. Fortunately it all worked out.”
The pair, who both work nearby, are upsizing from a unit in Brunswick.
“We had looked at a few, but this was the first we had a serious go at,” Mr Aston said.
Barry Plant auctioneer Jarrod Crouch said having six bidders in a crowd of 40 was a “good strike rate”.
“But it was pretty much mostly interested parties today,” Mr Crouch said.
“Six bidders is slightly higher than normal. But I’m not surprised buyers are still active — compared to this time last year, when no one could get money, it is much better.”