Just over a year ago, a Christmas accident set the front room of the house on fire, but that wasn’t enough to stop the house from selling beyond expectations.
A house in Frankston where the front room caught fire and much of the rest of the house was damaged by smoke has sold beyond expectations after four buyers chased it down.
It is believed the 6 Cecil St property caught fire in 2024 due to Christmas decorations, with no one injured in the blaze.
And while most of the house was still in good structural condition, the front room required some rough work if there was smoke damage.
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But even that wasn’t enough to derail the suburb’s booming market, with a price guide of $950,000-$1,045 million eclipsed yesterday when the house went under the hammer.
The five-bedroom home attracted four bidders, a mix of land bankers, renovators and one developer. It sold for $1.085 million.
Luke Magree of O’Brien Frankston handled the sale and said that, with a 1,000 sq ft plot of land and a salvageable house, it had proved surprisingly popular.
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The property was sold with the prospect of redevelopment or renovation and given new life.
Bidding started at $900,000 and quickly rose to the $1 million mark, although it became more restrained after that, Mr. Magree said.
“The buyer plans to renovate and ground it,” he said. “The condition of the house is not as bad as it seems. Once you go inside, you see that it is in better condition than you would think.”
The real estate agent added that the sale had been important for another reason, as five years ago it would have attracted mainly developers, but in this circumstance was supported mainly by the interest of home buyers.
The house has seen better days, but still attracted several bidders.
It wasn’t the only big result in the region; the agent also recorded a sale of $842,000, almost $100,000 over reserve on a three-bedroom house at 2 Byron Court.
That house also had four bidders.
Mr Magree said he expects growth of 5 to 10 per cent in Frankston over the next 12 months.
“The interest rate decision next week could impact business, but I don’t see it slowing down,” he said.
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