A young first home buyer couple who had been renting splashed $1,457,000 on a single-fronted Northcote house at auction on Saturday.

The north-facing, two-bedroom home at 23 Charles Street included a smart outdoor living space and attracted two bidders at auction.

It was one of 821 auctions scheduled in Melbourne on Saturday.

Bidding began at $1.32 million, within the quoted price range of $1.3 million to $1.4 million.

It quickly passed the reserve, which was set at the top of the range, Jellis Craig Northcote selling agent Nigel Harry said.

The winners beat another professional couple for the keys. For both parties, it was their first time bidding at auction, he said.

He said the market in his area between $1 million and $1.5 million was proving popular, and that a period of steady interest rates had given buyers confidence.

“Since we have seen some stability around the [interest] rates, while there has been a significant increase in the last [two years], people can see there is light at the end of the tunnel,” he said.