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Vermont South home soars above $2m at auction

The 785sq m property at 2 Coachmans Court, Vermont South notched a $2.05m sale on Thursday evening.It was originally listed with a $1.68m-$1.848m price guide.RELATED: Renovated Vermont South home sells for almost $2m in hot auctionBurwood East home sells for first time in 20 yearsToadie’s old house on Neighbours street in Vermont South for saleWith the RBA signalling a interest rate rise in the not-too-distant future, what will that mean to home buyers?Biggin & Scott Glen Waverley’s Lily Liaw had the listing and said a reserve was not set as bidding “started very high.”Vendors Vicki and Rob McNally said the sale was “unbelievable” and were pleased with the “fantastic” result.The couple bought the home nearly 20 years ago from the original owners for $393,000, according to CoreLogic.They raised their three children at the property, who also attended Thursday’s twilight auction — held in the backyard by the pool.Ms McNally said the pool was the first upgrade they made to the home and was “the best investment.”“The kids all had pool parties there,” she said.The McNallys completed a number of renovations over the years, including the addition of a glamorous kitchen and three modern bathrooms.Ms Liaw said that three bidders fought for the keys on Thursday.“We’re seeing more quality buyers over quantity,” she said.A young couple from Hong Kong won the keys, who had a buyers advocate bid on their behalf. “It’s going to be really sad to leave,” Ms McNally said. “The neighbours are fantastic.”The couple are now downsizing, but hope to buy another old house to renovate in the future. “We got to enjoy it and are happy that the next owners will too,” Ms McNally said.Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.MORE: Victorians brace for interest rate rises: Search every suburbPoint Cook home has slice of Bali paradise in the backyardArtist David Bromley’s Hepburn Springs family house painted as a potential luxury

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