Bidders drive Port Fairy house sale to $740,000

BIDDERS dug deep to secure a piece of real estate in the heart of  Port Fairy on Saturday when an old brick house on a large block sold for $740,000 at auction.

About 100 people turned out to 18 Barclay Street where six people sent the price soaring  after auctioneer Gary Lockett took the first bid at $620,000 to test the water.

"There was spirited bidding and it went for way over the reserve price,"  he said yesterday.

"It was a very good result  considering Port Fairy is not generally regarded as an auction town.

"The property was purchased by a local resident who intends using it as a home and investment.

"It's a unique property set on a 1644-square metre block and is possibly the last sizeable undeveloped site in central Port Fairy."

The house has four bedrooms  and a wood fire heater.

Mr Lockett conducted the sale in conjunction with Robertson Real Estate.

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