The renovated home at 1 Margaret Street, Scarborough sold at auctionONE determined bidder ensured a brick character home in Scarborough was sold at auction. The property, at 1 Margaret St, went under the hammer on Friday and sold for an undisclosed amount. John Beal Real Estate marketing agent John Beal said the in-rooms auction attracted five registered bidders and a crowd of about 30 people. The lounge room at 1 Margaret Street, Scarborough“The auction was dominated by one determined bidder who didn’t stop until the property was his,” Mr Beal said. “He is a retired university lecturer who is moving to the area with his wife.“They had been looking for the right place for about two or three months and I’m sure they’re happy they’ve secured a property and got their weekends back.” More from newsLand grab sees 12 Sandstone Lakes homesites sell in a week21 Jun 2020Tropical haven walking distance from the surf9 Oct 2019 The kitchen at 1 Margaret Street, ScarboroughMr Beal said the market in Scarborough was being driven by a lack of properties. “We get a lot of inquiry as soon as something is listed,” he said. “Margaret St, for example, had 25 groups through its first open house. “We have interest from across the board — locals, interstaters, people moving to the area and investors,” he said. “We just don’t see many first home buyers these days.” The swimming pool at 1 Margaret Street, ScarboroughMr Beal said buyers were attracted to the seaside lifestyle on offer in Scarborough.“Scarborough has good infrastructure and it’s a picturesque area,” he said. According to CoreLogic, the median house price in Scarborough has increased 10.2 per cent in the past year to $520,000.