1 Ixia Close, Hoppers Crossing, sold for $645,000 to first-home buyers.

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After eight months searching on and off, Joseph Busuttil and his partner Lauren Zahra bought their first home yesterday.

Their search has included missing multiple homes, three interest rate hikes and finally a set of keys and a title.

But even after another buyer scared off most of their competition with a big bid, it wasn’t until the final seconds that it occurred to them they might “actually have this house”.

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“I didn’t feel the nerves until the end when they started counting down,” Mr Busuttil said. “When you’re looking at the house and seeing that many people coming through … even at the auction I thought there were other people who were going to bid.”

The auction opened with simultaneous bids, one at $400,000 and another at $590,000. Hockingstuart Werribee auctioneer Samantha McCarthy elected to ignore the offer $200,000 below the home’s $600,000-$660,000 price guide.

The couple appreciated the home’s multiple living areas.

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The bids kept rising in $20,000 increments, despite some buyers trying to slow things down and it wasn’t until the final bid that Ms McCarthy accepted a $15,000 rise.

The home sold for $645,000 to the surprised but happy Mr Busuttil and Ms Zahra.

The pair had postponed their hunt a few times as life took unexpected turns, but even in the past two or three months they had missed two home.

For those still searching for their first home, Mr Busuttil said success seemed to him a matter of “luck and timing”.

The four-bedroom house has two living zones and is on a 770sq m allotment that had other first-home buyers and even an investor, who wound up being the underbidder, interested.

The pair plan to live at the house for at least 10 years.

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Ms McCarthy said those looking for homes they could rent out had been scarce lately and more were needed to help add to the region’s rental supply.

“It’s nothing like what I used to see where there was a 60-40 split between homebuyers and investors coming through,” she said. “Now it’s 90-10.”

Despite one buyer trying a $400,000 low-ball bid at the start of the auction, Ms McCarthy said selling $25,000 above the reserve was in the sweet spot for a market where sellers and buyers were on an even footing.

A decent-sized back yard provides space for outdoor entertaining in fine weather.

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“Sometimes we see homes going a long way over reserve, but today’s $25,000 over reserve won’t scare buyers off, so it’s a bit more balanced,” she said.

“And the vendors are happy it’s being passed over to a homeowner who will make the most of it.”

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