A South Yarra couple is moving from their rental home after netting a family’s holiday house in “still affordable” Rye.

They were one of two first-home buyers who had battled it out with two other bidders for 62 Wondaree Street at a November 26 auction.

The couple, who are engaged to be married, won the keys to the three-bedroom house with a $717,000 bid, which was $67,000 above the seller’s reserve.

“We had four bidders but two first-home buyers were left standing towards the end of the quick 12-minute auction,” Barry Plant Dromana director Terry Burgoyne said.

“There was a crowd of 50 who watched the quick bidding that resulted in a price well above the $650,000 seller’s reserve.”

The new owners are renting an apartment in South Yarra and wanted to move to Rye for a permanent sea-change, Mr Burgoyne said.

“They felt that Rye was still affordable and they could get their first home and a coastal lifestyle,” he added.

The sellers bought their holiday home 40 years ago for $59,000.

“Buyers looking at Rye will find good value and can buy a three-bedroom house on a decent sized block,” Mr Burgoyne said.

The Rye property offers plenty of potential for a renovation, extension or a new build on 607sq m.

It is in an excellent position near the foreshore and Rye town centre and is a short drive to the beach, Peninsula Hot Springs, the Dunes and Moonah Links golf courses.

The Dromana office is the latest in the Barry Plant network and is helmed by Mr Burgoyne, an industry veteran with several decades’ experience.

A week earlier, Mr Burgoyne successfully auctioned 20 Devon Court, Rosebud (main image above), for $1.175 million.

“It sold well above the seller’s expectations with three bidders competing,” he said.

“The buyers are downsizers from Heathmont looking for a sea-change while the other bidders came from the southeastern suburbs.”

The luxurious three-bedroom house on 500sq m with landscaped gardens offers stylish yet low-maintenance living in a coveted location.

Set in the Waterfall Gully area, it has high ceilings, polished floors, spacious living and dining zones, a designer kitchen and an outdoor deck.

The opening of the Dromana office adds to a substantial Barry Plant presence on the Mornington Peninsula. Established offices in Rosebud and Mornington combine with the new Dromana office to provide highly professional real estate services across the Peninsula and offering a potent network of expertise.