Family wins the keys to $1,819,000 inner-north terrace with park views

A family has triumphed in a head-to-head contest at the auction of a traditional Carlton North terrace.

The double-storey Victorian at 679 Rathdowne Street sold under the hammer on Saturday for $1,819,000, after a campaign with a price guide of $1.7 million to $1.79 million.

The family edged out a professional couple, the only other bidders, for the keys to the four-bedroom home, one in a row built about 1882.

“I would say the buyer was cool as a cucumber and showed zero emotion, but once he got inside, the smiles came,” agent and auctioneer James Pilliner from Nelson Alexander Carlton said.

“He was representing the family, and they’re really happy to be moving.”

The auction attracted a crowd and was slow to ignite , so Pilliner threw out a lifeline.

“I called for an opening bid and didn’t get one, so I asked for an opening price of $1,675,000,” he said. “Often that’s a good way to get people to start because I don’t like to yell it out in front of 100 people.”

Bidding progressed in $10,000 increments, tightening to $5000 bids when the $1.77 million reserve was reached, and Pilliner announced the home was on the market.

The property was attractive for its village position, park views and potential to add value, Pilliner said.

“It has a 1980s kitchen and bathroom, and the buyers weren’t put off by having to fix that up.”

Pilliner’s office donated its fee to charity through the Nelson Alexander Foundation, which was doing fundraising at auctions on Saturday.

The property was one of 714 scheduled to go to auction in Melbourne this week.

In Rowville, a four-bedroom brick house with a pool at 23 Kilcunda Drive sold under the hammer for $1,336,000, after the agents and vendor chose to disclose the reserve price weeks before the introduction of a new rule.

From October 1, property ads in Victoria must reveal the reserve at least seven days before an auction or fixed-date sale.