Cottage sells $425K over reserve

PHOTO: Buyers Sheena and Lucky in front of their new home at Liverpool St, Rippleside.

SEVEN bidders pushed the price of a two-bedroom Rippleside home $425,000 over reserve at auction on Saturday.

The cottage-style residence at Liverpool St was snapped up for $1.225 million.

It had been offered with a $800,000 – $880,000 price guide.

Auction at Liverpool St, Rippleside.

New bidders were popping up everywhere throughout the lengthy auction, but it was a young couple, in the race from the start, who held on to secure the keys.

Auction at Liverpool St, Rippleside.

Local buyers Lucky and Sheena landed the second bid, and stayed the course to outlast six other bidders for the 293sq m property set across from Rippleside Park.

Auction at 35 Liverpool St, Rippleside.

The pair are already invested in the 3215 postcode, living nearby, and they also have a local business, Bean & Base Cafe.

But, the auction win was bittersweet, as the pair were bidding against friends.

“We’ve been living here for a while now,” Sheena said.

“We really liked the location, that’s the key, my son plays here all the time.”

Auction at Liverpool St, Rippleside.

The auction started slowly but picked up speed.

Auction at Liverpool St, Rippleside.

Whitford, Newtown auctioneer Dale Whitford declared property on the market when the price reached $800,000.

“You could be sitting in the front lounge room looking over the park, looking at Corio Bay, looking at the marina,” Mr Whitford told the 50-strong crowd.

Whitford, Newtown auctioneer Dale Whitford and listing agent Tony Young in action.

Whitford, Newtown listing agent Tony Young said the property had attracted plenty of interest due to its potential and location offering plenty of bayside benefits.

He said most of the interested parties were living in Rippleside or nearby.

“We had 14 groups that suggested that they would have a go at the property,” Mr Young said.

“There were at least three people there that were prepared to pay $1.2 million.

“It’s very difficult to determine the market value, because of the size of the allotment … we tried to keep our feet on the ground, as did the vendors.

“Rippleside is a beautiful suburb, not many Melbourne buyers would know it.