Brunswick townhouse sold $200k above expectations for $980,000, leaves seller ‘dumbfounded’

18 Eva Buhlert Close, Brunswick, has sold for almost $1m about 24 years after it last changed hands for just $210,000.

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A Brunswick property investor was left “dumbfounded” yesterday as the two-bedroom townhouse he spent $210,000 buying in 2000 to help fund his retirement sold for $980,000.

And with an about $54,000 stamp duty payment ahead, the buyer will ultimately pay more than $1m for the modest, but well-located home.

After watching the market closely for the past eight weeks, Les Burrow said he would have taken $800,000 if someone had offered it for the home last week.

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As he settled in to listen to the sale yesterday, he feared the 18 Eva Buhlert Close home he’s owned for the past 24 years was going to pass in, despite 10 buyers being registered to bid.

Ray White auctioneer Jamil Allouche faced a slow start, with a $700,000 opening bid below the home’s $720,000-$790,000 asking price.

“I thought it wasn’t even going to make the reserve,” Mr Burrow said. “And then all of a sudden they just started bidding and it was incredible.”

The frantic surge that followed even caught Mr Allouche off guard and he had to clarify the home had been on the market “for a while” when he finally got a chance to announce as such at $870,000.

The 18 Eva Buhlert Close, Brunswick, townhouse got a fresh lick of paint and carpets before being put on the market for auction.

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The same tenant maintained the residence for 22 years.

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But with five of the 10 prospective buyers registered to have a crack at the home in the fray, the price kept rising.

“This was my first auction, and I just couldn’t believe it; I was dumbfounded when it went over $900,000,” Mr Burrow said. “If someone had walked up last week and offered $800,000, I would have taken it.”

While the property had always been his superannuation plan, he said he was now hoping there could be a few extra holidays in his retirement.

Ray White’s Matthew Schroeder handled the sale campaign and said if anyone had told him it would sell for $980,000 at the start of the auction he would have laughed at them.

A modest back yard proved enough to help the home attract an almost $1m sale price.

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The two-bedroom home attracted offers from five bidders, with more in the crowd.

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Mr Schroeder said the home’s location, semi-detached construction and lack of an owners corporation fees had made it particularly popular.

The agent added that the buyer had revealed after the auction they feared they had paid too much for the home.

“The hard thing is at any auction you do feel like you paid a lot, but while it feels like that at the time it’s shows it was competitive,” he said.

“And the things that appealed about the home today won’t go away and will it will always have those advantages if you ever go on to sell.”

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