The interior of 107 Hutton St, Thornbury, is primed for renovation.

Four bidders competed for a run down two-bedroom weatherboard home at 107 Hutton St, Thornbury, at the weekend, taking its sale price to $1.01 million.

Local renovators drove the action at the 330sq m site, which was declared on the market at $990,000, said Little, Melbourne, agent Nick Todd.

The facade at 107 Hutton St, Thornbury, retains its period charm.Source:Supplied

The 360sq m block has space for an extension or larger home.Source:Supplied

“I think that people are just buying the potential,” he said.

“There are quite a few houses that have already been done around there fetching $1.3, $1.4, $1.45 million. I think this gives someone the opportunity to put their own stamp on it.”

The median sale price of Thornbury houses rose 17.7 per cent to $1.065 million in the 12 months to November 2016.

That’s a near 50 per cent (47.9) boost from three years earlier.

The main living area has dated carpet and paint.Source:Supplied

The space could be converted for open-plan living.Source:Supplied

The main bedroom at the front of the house.Source:Supplied

The dated Hutton St property features period details including a front bay window, high gables and ceilings, a sun room, living room, car port, bathroom and separate laundry.

Mr Todd said the sellers had owned the property for 31 years and rented it in recent times.

“It’s close to the city, there’s good shopping in the area, the Northcote High School zone is a big plus, there’s really good public transport, the standard sorts of things people look for,” he said.

The strong sale follows a property in similar condition, but on a more substantial 676sq m block, at 9 Normanby Rd, Thornbury, fetching $1.64 million earlier this month.

The property at 9 Normanby Ave, Thornbury, sold for $1.64 million on February 4.Source:Supplied

Advantage Property Consulting director Frank Valentic said at the time the original house would likely make way for up to five townhouses after six developers battled for the site.

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Originally published as This is what $1m gets you in Thornbury