Preston one-bedroom house sells for more than $900,000

Preston one-bedroom house sells for more than $900,000 nmprofetimg 1410
227 Raglan St, preston - for herald sun real estate (4)  Preston one-bedroom house sells for more than $900,000 capi 0c45fc464b9c26ef80237c672c609370 102203a379201b43bc6f915fd387b2e8

227 Raglan St, Preston might have only had one bedroom but it lured three bidders.

A one-bedroom terrace house in Preston has soared $141,000 past its reserve to an eye-watering $931,000 sale.

The cosy home at 227 Raglan St went under the hammer with a $760,000-$790,000 price guide, but surged past expectations as three bidders fought it out with rapid fire bids.

Nelson Alexander auctioneer Spiro Karagiannidis accepted a $750,000 low-ball offer to kickstart the auction, with the figure rising rapidly thereafter.

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By the time the hammer fell even he was surprised at the price: more than $200,000 above Melbourne’s median house price.

227 Raglan St, preston - for herald sun real estate (4)  Preston one-bedroom house sells for more than $900,000 capi 0c45fc464b9c26ef80237c672c609370 8c9dedb3d6b61b87d40345a0124c5cc0

The home receives plenty of natural light despite its modest size.

“That’s a bit more than what we thought it would get,” Mr Karagiannidis said.

Melbourne’s median house price is $725,000, according to latest realestate.com.au figures.

Public records show 227 Raglan St last changed hands in 2006 for $335,000.

227 Raglan St, preston - for herald sun real estate (4)  Preston one-bedroom house sells for more than $900,000 capi 0c45fc464b9c26ef80237c672c609370 5ecb514fc9e2c46f916e4eff6e44c744

Blue tiles add character in the bathroom.

In addition to one bedroom, the house came with a modest backyard and rear right of way with a carport, a blue-tiled bathroom and two living areas, including one with green carpet.

The hefty result was great news for the owners, selling up as they plan a country-change, according to listing agent Michelle Portelli.

227 Raglan St, preston - for herald sun real estate (4)  Preston one-bedroom house sells for more than $900,000 capi 0c45fc464b9c26ef80237c672c609370 fa0359126637c01a997459166267956e

The house has green carpet in the living room.

“They were thrilled with the result,” Ms Portelli said.

It is also good news for anyone considering selling.

“There’s not a great deal of stock at the moment and there are certainly buyers looking in the area,” she said.

227 Raglan St, preston - for herald sun real estate (4)  Preston one-bedroom house sells for more than $900,000 capi 0c45fc464b9c26ef80237c672c609370 69b408420a1af531bf80dbd87c3a20ca

The backyard offers a cosy space for additional enjoyment in fine weather.

The home sold to a young homebuyer who had attended a number of other auctions and characterised the bidding as consistent with what he had been seeing.

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