A crumbling, borderline unliveable weatherboard house in Northcote has sold for $1.1 million, almost $300,000 above its reserve price.

Owner Stjepan Gotvajn, an elderly gentleman who has called 190 Bastings Street home for half a century, had set the reserve price at $810,000.

But with an opening bid of $800,000, Mr Gotvajn’s expectations were quickly exceeded.

“He was a little bit excited,” said Nelson Alexander agent Grant Leonard after the auction.

It was one of 1066 properties scheduled to go under the hammer in Melbourne on Saturday. By evening, Domain Group recorded a clearance rate of 76 per cent from 819 reported results.

A total of six bidders — a mix of investors, renovators and young couples — competed for the keys in front of a crowd of more than 100 people.

The property was particularly appealing because there are very few completely unrenovated, freestanding houses in Northcote left, Mr Leonard said.

“It was almost falling down,” he said. “Twenty years ago, we sold a house like that every month but these days they don’t come up very often.”

The successful bidders plan to knock the house down and build a family home to live in.

Renovated or new freestanding houses in Northcote typically sell for around the $1.5 million mark, depending on the size of the home and block, Mr Leonard said.

Meanwhile in South Yarra, an elegant three-bedroom residence sold for $3.46 million, more than $200,000 above its reserve price.

The Domain Road property was once a grand single mansion but was converted into four homes in the 1980s.

The auction opened with a $2.9 million bid, before three bidders fought it out in $25,000 increments.

It sold under the hammer to a couple downsizing from the Boroondara area. Listing agent Grant Samuel from Kay & Burton said the Domain precinct was highly sought after for downsizers leaving the eastern suburbs.

Mr Samuel said the vendors were thrilled with the result, which was significantly above their expectations.

Title records show they purchased the property in 2005 for $1.8 million.

In Fitzroy, an architect-designed warehouse conversion passed in on a single bid.

The luxurious Napier Street property, once a farriers building and a panel beaters’ workshop, proved popular with the public as dozens of people relished the opportunity to inspect the house before the auction.

But the auction didn’t last long — the property was passed in on a bid of $3.55 million.

Auction results show it sold later in the day for $3,575,000.