Four bidders vie for $2.26m Edwardian house in Melbourne’s east

Detailed summary

The winning bidder, a couple who also have a home on the Bellarine Peninsula, paid $200,000 over reserve to secure the property located in a leafy suburb.

An Edwardian home in Surrey Hills, in Melbourne’s leafy east, sold for $200,000 above reserve, with a couple fighting off three other bidders to secure their city residence.

The four-bedroom house at 14 Norris Street was listed with a reserve price of $2.06 million. Featuring coloured leadlight glass, an arched hallway and high ceilings, the home is close to schools and other amenities.

Marshall White Boroondara lead agent Julian Papas said auction proceedings began with a vendor’s bid of $1.9 million, which was soon countered by a genuine bid of $1.92 million.

From there, the first and second bidders – both owner-occupiers – battled in increments of $20,000 before breaking down in $10,000s. At the $2 million mark, a third bidder entered the auction, after which the bids went up in increments of $5000, until a final bidder won with an offer of $2.26 million.

“It was purchased by a family with adult children who have a residence on the Bellarine Peninsula and are going to be splitting their time between Melbourne and the Bellarine,” Papas said.

The underbidder was a downsizer moving from a larger parcel of land in the eastern suburbs.

Papas said the vendor also has a house on the Bellarine Peninsula, but decided to scale down in Melbourne.

The vendor refinished the floors, added new carpets and repainted the home to make it more live-ready, which helped attract a much larger pool of buyers.

The property was one of 676 scheduled to go to auction in Melbourne this week.

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