A Clayton townhouse has a new owner.

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A Clayton townhouse has gifted its owner a 15 per cent profit in just six years after a competitive weekend auction.

Despite nerves kicking in before the auction, the vendor’s family who were selling on her behalf scored a $110,000 bonus on the $760,000 she paid in 2016.

Son-in-law Tim said his mother-in-law downsized to the 2/64 Prince Charles St pad five years ago after her husband moved into an aged care facility, but she had since rented it out when moving to the city’s inner north to be closer to Tim and his wife.

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The auction attracted a huge crowd on Saturday.

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The townhouse has been rented for the past year.

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“She’s actually renting herself to be closer to us, we thought that was a good solution since interest rates have gone up so much,” he said.

“We decided she could earn double her money by putting the money from the sale into fixed term deposits since she has no mortgage, and she won’t have to worry about things like tenants, upkeep and interest rates.

“It wasn’t really a great idea to keep it going — my wife and I are both in our 60s ourselves and we didn’t want to travel across to Clayton.”

The property attracted seven bidders at its auction, where a crowd of about 150 people gathered to watch it go under the hammer.

It kicked off with a $770,000 bid, but buyers were hesitant to throw their hats in the ring until the competition strengthened.

Offers slowly picked up before the property was called on the market at $820,000.

A family who relocated from New Zealand won the keys.

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Perfect for summer entertaining.

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It eventually sold for $870,000 to a family with teenage children who had relocated to Melbourne from New Zealand.

Ray White Oakleigh agent Leigh Kelepouris said the purchasers had missed out on a number of auctions in the area in the past week.

“They weren’t actually wanting to buy in Clayton but after seeing (the property) and how easy it was for their children to get to school, they bought it,” Mr Kelepouris said.

“They were quite ecstatic to get something in this area.”

He added the buyer pool comprised a mix of young first-home buyers and families.

“It was really well received and the good thing was there’s not a lot of townhouses up for sale, so when we launched it was the only choice for buyers in Clayton.”

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