The same family owned a “generational” home in Manifold Heights for over 50 years. It was sold on Saturday.

The five-bedroom house at Bostock Ave was sold for $1.351m – $51,000 more than its market value of $1.3m.

The initial price range for the property was $1.195m to $1.295m.

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Values continue to rise in suburbs across AustraliaBen Riddle, director of Buxton Newtown, said that the new owners saw the value in the home’s location and the fact that it was a generational house.

“It was great to have a positive result, because it’s a competitive market and the interest rates are working,” said Mr Riddle.

It’s been a family home for over 50 years.

The vendors thought it was the right time to give over the keys.

The kitchen and dining area.

The staircase is made of wood.

The auction began with a vendor bid of $1.15m and went up predominantly in $10,000 increments.

Mr Riddle stated that two young local families competed at the auction.

The property is approximately 950sqm and has rear access. It is located in Manifold Heights’ most secure pockets.

The large living room has an original brick fireplace with a gas log fire. A timber staircase separates the space and leads to the study area.

The living room.

The kitchen features timber cabinetry, a 600mm Miele over, a gas cooktop, a dishwasher, and plenty of bench space.

The dining room and outdoor entertainment area are located off the kitchen.

Max Hardwick, agent at Buxton Newtown in Geelong, said that good properties are selling well, but a few “stick around” for a bit longer.

Mr Hardwick stated that “a few nice weekend results probably gave a little bit of confidence back, which is fantastic.”