Oak Park auction ends in emotional $861k result

Crowds gathered as vendors Jackie and Dominic Stephenson farewelled their first home in an emotional Oak Park auction that ended at $861,000.

An Oak Park couple has farewelled their first home in a heartfelt auction that drew strong bidding and ended with a first-home buyer seizing the keys.

For Jackie and Dominic Stephenson, Saturday’s auction at 4/16 Albert St marked the close of a deeply personal chapter.

“We’re really happy,” Mrs Stephenson said.

“It was a very competitive campaign and we couldn’t have asked for more.”
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The couple bought the three-bedroom rear villa before the pandemic and lived through Melbourne’s lockdowns there, even marrying while in residence.

“We even got married while living here, so the house has been a huge part of our lives,” she said.

They said the outdoor entertaining space would be hardest to leave behind.

Light-filled living zone flows to the courtyard that set the scene for the $861,000 auction result.

Stone-topped kitchen with stainless-steel appliances anchors the villa’s bright open-plan layout.

“The courtyard, without a doubt. We’ve had so many summer nights out there with the pizza oven and barbecue going,” Mrs Stephenson said.

Knowing the villa sold to another young buyer softened the farewell.

“It’s wonderful knowing the buyer will live in it and hopefully love it as much as we did,” she said.

Dominic added the sale was about looking forward.

“Selling this home was part of the bigger plan so we could move forward,” Mr Stephenson said.

Spacious main bedroom with built-in robe and private ensuite.

Fully tiled bathroom with walk-in shower and sleek modern finishes.

“Now that it’s done, we’re excited to get the keys to the new place and start the next chapter.”

Bidding opened at $750,000 and climbed to $861,000, where the hammer fell to first-home buyer Laura.

Ray White Glenroy’s Abdullah El Hosari, said it was an honour to represent the sellers again.

“They were selling their pride and joy, and it turned into a really heartfelt and emotional auction,” Mr El Hosari said.

Fairy-lit courtyard proved a crowd favourite, the heart of the home and the highlight of auction day.

The result comes as the federal government’s expanded First Home Guarantee scheme kicks in, allowing more buyers to enter the market with a 5 per cent deposit and no lenders’ mortgage insurance.

Mr El Hosari said he’s expecting the market to continue to grow.

“Confidence is back,” he said.

“The numbers through inspections are stronger, and I expect we’ll see even bigger crowds in this price bracket over the next few weeks.”

He said Melbourne’s northern suburbs were gearing up for a bumper finish to the year.

“We’ve come through a tough patch, but there’s a clear upturn now,” Mr El Hosari said.

“October and November is shaping up to be a blockbuster end to the year.”

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david.bonaddio@news.com.au

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