A house sold for only $257,500 on Friday in the expensive Port Fairy real estate market.
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But don’t get too excited that the buoyant Port Fairy market is becoming more accessible.
The house was a former public housing dwelling and a “renovator’s delight.”
The $257,500 for the two-bedroom house at 12 Baulch Crescent was described as a bargain for Port Fairy by the selling agent Nicole Dwyer from Stockdale & Leggo Port Fairy.
She said the average price for homes in Port Fairy was $600,000 plus.
Ms Dwyer said the house was sold by auction, which was rare in Port Fairy because most properties sold before auction dates.
The house went to auction because the state government required it to be sold by auction, she said.
Ms Dwyer said there were two active bidders. The opening bid was $240,000 and bids then rose in $5000 increments before dropping to $2500 increments to finish at $257,500.
It sold to a local buyer.
