A TEMPLESTOWE Lower house has sold for $70,000 more than reserve in its first ever sale.
Four bidders competed for the five-bedroom home at 26 Magnolia Drive before it sold for $1.17 million to a Sydney family.
Jellis Craig Doncaster director and auctioneer Dallas Taylor said the interest in the deceased estate surprised him, with the 1970s brick pad still featuring original wallpaper and a retro bathroom.
“There were about 50-58 inspections and the buyer was a young family moving from Sydney,” he said.
“The underbidder was from Balwyn and the other bidders were locals.”
Mr Taylor said he believed the buyers weren’t going to renovate the home a great deal, “maybe just paint it”.
The three-storey house on 768sq m includes a wine cellar, a water feature and courtyard.
Templestowe Lower houses had a median price of $1.225 million, an increase of 3.8 per cent in the 12 months to June, according to recent CoreLogic figures.
SUBURB PROFILE: TEMPLESTOWE LOWER