Popular Melrose Park home sells $151,000 above reserve at auction

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More than 30 househunters registered to bid for the three-bedroom home at 68 Rozelle Ave, which sold for $800,000 at auction.

Harris Real Estate agent Jarred Stamoulis, who sold the home with Naomi Perrett, said the result came as a surprise given its reserve was $649,000 and its price guide $590,000.

“We were in shock, the owners couldn’t believe it either,” he said.

68 Rozelle Ave, Melrose Park. Pic: realestate.com.au

68 Rozelle Ave, Melrose Park. Pic: realestate.com.auSource:Supplied

68 Rozelle Ave, Melrose Park. Pic: realestate.com.au

68 Rozelle Ave, Melrose Park. Pic: realestate.com.auSource:Supplied

68 Rozelle Ave, Melrose Park. Pic: realestate.com.au

68 Rozelle Ave, Melrose Park. Pic: realestate.com.auSource:Supplied

“Even us as agents are struggling to price properties.”

Mr Stamoulis said all the feedback they had received suggested the property could sell for around the mid $600,000 mark.

However, strong interest throughout the 20-day auction campaign resulted in keen househunters pushing the price up at auction.

According to latest REA insights data, the house was the second most viewed property going to auction across SA last week and the third most viewed around the country.

“We had investors, some interstate buyers, first-home buyers looking to renovate and some people looking for the land,” Mr Stamoulis said.

68 Rozelle Ave, Melrose Park. Pic: realestate.com.au

68 Rozelle Ave, Melrose Park. Pic: realestate.com.auSource:Supplied

68 Rozelle Ave, Melrose Park. Pic: realestate.com.au

68 Rozelle Ave, Melrose Park. Pic: realestate.com.auSource:Supplied

68 Rozelle Ave, Melrose Park. Pic: realestate.com.au

68 Rozelle Ave, Melrose Park. Pic: realestate.com.auSource:Supplied

“We had 34 registered bidders at auction … and had 169 attendees (view the home) through the campaign.

“At auction only four (registered bidders) actually got to bid – we started at $600,000 and within about 10 to 15 bids we were at $800,000.”

He said first-home buyers bought the property, which is on a 772sqm block, with the intention of putting their own stamp on it.

“They’re going to move straight into it and do the renovation and extension over time,” Ms Stamoulis said.

Where are property investors looking?...

Where are property investors looking?

Where are property investors looking?