A YOUNG family from North Sydney has paid $1.52 million for an uninhabitable cottage in Manly Vale, saying the suburb is the up-and-coming Manly.

Matthew and Heather Peel have two boys under four and were looking for a family suburb to raise their sons.

media_camera The Innes Rd cottage had been empty for 14 years but the level land close to parks and a bus stop was a big drawcard.

“We were attracted by the parks, the proximity to the beach and the good public transport,” Mrs Peel said.

“My husband travels to the city for work and having the bus stop at the end of the street and seeing the new bus service coming was a huge attraction.

“We see the area as an extension of Manly.”

media_camera The auction crowd on Saturday, 14 groups registered to buy the old cottage.

The couple bid on another house in Manly Vale this month but lost out.

Fourteen parties, most of them young families, registered to buy 12 Innes Rd at auction on Saturday.

media_camera 12 Innes Rd, Manly Vale, has been vacant for 14 years

media_camera Inside the old timber cottage, not one of the buyers carried out pest and building inspections. All were interested in bowling it over and building on the level block.

The 1950s weatherboard cottage had been vacant for 14 years and not one party undertook a pest and building inspection.

Bidding opened at $1 million and jumped quickly to $1.3 million before two families battled it out. The Peels intend to build a project home on the north-facing block.

media_camera The property has an expansive back yard.

media_camera There was strong interest from families who wanted a big yard for the kids.

Agent Pat Brown, of First National Manly Vale, said five years ago the block would have sold for around $750,000.

“Prices in Manly Vale have doubled in five years,” he said.

“Manly Vale has a new Woolworths supermarket, the new swim centre and it has excellent public transport,” Mr Brown said.

media_camera Auctioneer Vic Lorusso calling for last offers on the Innes Rd cottage that had been held by the same family since the mid 1960s. .

media_camera A large European family was raised in this cottage, left vacant for 14 years.

The cottage has been in the same hands since the 1960s.

Sixty-two properties were offered on the northern beaches over the weekend. Ten sold early, 43 sold on the day, six were passed in and three were withdrawn.

The auction clearance rate for the northern beaches last week was 85 per cent.