A hillside home with panoramic views has smashed the Ferntree Gully residential price record by $310,500 in a hotly contested auction.

The four-bedroom 5 Beech Close house attracted an opening bid of $1.3 million followed by a knockout increment of $100,000 to $1.4 million, Barry Plant Wantirna director Daniel Cripps said.

The move left five of the 15 registered bidders standing, with bidding then soaring to $1,705,500.

It surpassed the previous record of $1.395 million for 70 Bursaria Avenue that sold a few days prior.

“It was one of the strongest auctions I have seen, achieving a price record for a house on a standard block size in the suburb,” Mr Cripps said. 

“The property drew plenty of interest once on-site inspections were allowed.” 

The sale gave the sellers a tidy profit on their purchase of the block and construction of the house less than four years ago. 

Meanwhile, an expat living in California joined in the online auction of a 994sq m property at 59 Cambridge Crescent, Taylors Lakes, on October 2. 

The overseas bidder outlasted four others with the highest bid of $904,000 for the vacant block. 

“When we spoke after the auction she said she loved watching the process online … was sipping a Margarita to calm her nerves and ended up securing the property,” Barry Plant Taylors Lakes director James Hatzimoisis said.

The first Saturday of October was a busy one for Barry Plant Coburg auctioneer Jarrod Couch who sold three properties on the day and one prior.

A four-bedroom house at 10 Ronald Street, Coburg North, achieved $120,500 above the reserve price, selling for $950,500. The home in move-in condition attracted six registered bidders, including four bidders who took part.

Another strong result was at 92 Newlands Road, Coburg North, which fetched $1.24 million.

The immaculately presented house with four bedrooms is a stroll to parks and Pentridge Village.

Five bidders battled for a two-bedroom house at 118A Barrow Street, Coburg, which sold for $963,000. Its auction had been postponed until October 2 because of lockdown restrictions.

And selling before auction, 42 Clarendon Street, Coburg, attracted a strong offer of $1.416 million which the sellers gladly accepted.