A FIRST-HOME buyer has trumped a group of developers at a Ferntree Gully auction.

The 1000sq m property at 43 Dobson St was on the market for the first time in 41 years and fetched $818,000.

Five developers lost out to the owner-occupier from Syndal whose winning bid was $38,000 above the $780,000 reserve.

“The house was sought after because it was in a popular location, on a single-level and had development potential,” Ray White Ferntree Gully agent Trish Davie said.

“It was an old-fashioned house in good condition and on a good block.”

The house has an older style but is in good condition.

It was a great result for the seller who was downsizing and going to travel, she added.

The three-bedroom, one-bathroom house had a buyer guide of $730,000-$800,000 during the campaign.

It is opposite Kent Park Primary School and features two living areas, a timber kitchen, ducted heating and airconditioning, a covered entertainment deck and a large backyard.

It offers potential for an extension or as a multi-unit site.

The large backyard on the 1000sq m block at 43 Dobson St.

The median house price in Ferntree Gully was $677,000 in the 12 months to April this year, CoreLogic figures show.

The suburb recorded 370 sales during the period. The median price has risen 59.3 per cent over the past three years.

SUBURB PROFILE FERNTREE GULLY