Coffee shops doing a roaring trade at the Porter Ave shops was a sure sign of confidence for buyers contesting an auction down the street.

The three-bedroom red brick house at 26 Porter Ave was at the centre of a six-way tussle at Saturday’s auction.

The property sold for $742,000 to a buyer who said he would hold it as an investment.

Barry Plant, Highton auctioneer Kieron Hunter said 70 groups had inspected the property during the campaign, which had been listed with a $669,000 to $699,000 price guide.

But the proximity to the Porter Ave shops, and nearby Bellaire Primary School were the main drivers of interest in the 589sq m property.

“I remember it selling years ago and they’ve done a lot of work to bring it up,” he said.

“The red brick stands out to me in a street of cream bricks.

“Porter Ave is just a great street and the neighbours will tell you that.

“But to be up this end, I guess away from the main road but you’re still close enough to walk up there to the shops.

“By the time you’ve got the kettle on, you might as well have walked up to Pane di Matteo and got yourself a coffee,” he said.

The buyer, who entered the auction at the end, said the purchase was an investment, showing that investors were looking for the same drivers as owner-occupiers.

“I’ve lived up the road for the past five, six years,” he said.

“It’s a good location, close to the schools, close to the shops here and you’re off the main street.”

The buyer said there’s also a little bit of work to do – “it’s small inside, but still liveable,” he said.

Bidding opened at $660,000, with the price reaching $730,000 before a third bidder entered the fray.

More bidders came in later as the competition slowed to $1000 increments.

Mr Hunter later revealed the property was on the market at $715,000.

Highton has a $950,000 median house price, which has risen 7 per cent in a year, PropTrack data shows.

The three-bedroom house offers plenty of classic charms in a light and bright home, such as detailed cornicing, a mix of modern and period finishes and timber windows.

The central bathroom had been recently renovated, while the large living space has a wood heater and picture windows looking out the front yard.

Source: news.com.au