Herald Sun Real Estate auction blog: Livestreams and rolling updates from the auction market
A house in Melbourne’s east sold for $121,000 above its on the market value, setting the benchmark for a busy auction day across the state. See what else tested the market.
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It was a big weekend of auctions with one property selling more than $120,000 above its reserve price.
PropTrack records show there are 987 auctions scheduled this week with 958 of them in Melbourne.
And multiple vying buyers placed bids on a house in Melbourne’s east on Saturday.
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The four-bedroom house at 8 Grace Court, Mitcham sold under the hammer for $1.096m, $121,000 above its on the market value of $975,000.
Craigieburn was also set to be chock full of prospective buyers as it has the largest amount of
homes to be auctioned of the entire state this week, according to PropTrack, followed by Essendon and Glen Iris.
Last week’s clearance rate was 64 per cent and 357 properties were sold.
Real Estate Institute of Victoria (REIV) vice president Darren Pearce said there was a perception that the winter market was quieter, but it was actually a great time to list a property as there wasn’t as much competition.
“Buyers are out there whether it’s cold or sunny; they’re out there in all seasons, so they don’t stop,” Mr Pearce said.
He said the market was good and healthy at the moment.
15 SANDY ST, NUNAWADING
A Nunawading house on sale for the first time in more than 60 years sold under the hammer for $1.2825m at its auction on Saturday afternoon.
The three-bedroom abode drew a large crowd of onlookers and prospective buyers, with bidding beginning at $1.05m.
Offers grew in $25,000, $20,000 and even $500 bids by the end.
Multiple parties threw their hat into the ring and its on the market value was called at $1.195m.
The residence sold for $87,500 above its on the market price.
2/57 KING ST, AIRPORT WEST
A three-bedroom brick townhouse in Melbourne’s north west was passed in at its auction.
The abode had a $630,000-$690,000 price guide and its auction began with a vendor bid from Barry Plant Essendon auctioneer Tony Catena.
Mr Catena said the townhouse was in a “beautiful environment” and presented a “great opportunity to get into the market”.
He added that it was near cafes and good schools.
Mr Catena placed a vendor bid of $630,000 and it was shortly passed in.
13 JENNIFER ST, NOBLE PARK NORTH
A house in an “A-grade, family-friendly location” sold at its auction for $815,000.
The three-bedroom weatherboard residence had a $700,000-$750,000 price guide and Ray White Cheltenham auctioneer Greg Brydon said it was just a “short stroll” to plenty of amenities.
Offers began at $650,000 and quickly increased until it was “well and truly” on the market at $785,000.
Multiple parties continued to bid in the home’s backyard until it was eventually sold for $815,000.
Mr Brydon said the abode had great-sized bedrooms and an entertainer’s backyard.
8 GRACE COURT, MITCHAM
Multiple vying buyers placed their bids on this residence at its auction on Saturday.
The four-bedroom house in Melbourne’s east sold under the hammer for $1.096m, $121,000 above its on the market value of $975,000.
Offers began at $850,000 and immediately rose from there with many prospective buyers throwing their hat into the mix.
As bids increased in $20,000, $10,000 and eventually $1000 increments, the home eventually sold after at least 45 offers.
18 PALMERSTON CRESCENT, TAYLORS LAKES
A Taylors Lakes residence sold under the hammer for $1.31m after competitive bidding from multiple parties on Saturday morning.
The four-bedroom house had $1.15m-$1.25m price hopes but was offloaded for $60,000 above its on the market value.
Offers began at $1.1m and rose swiftly in $20,000, $10,000 and $5000 increments predominantly until it was sold for $1.31m.
Barry Plant Taylors Lakes auctioneer James Hatzimoisis said he was totally impressed with the abode’s presentation and floor plan, calling the house a “top-class home”.
He added that it was beautiful inside and out and had great street appeal.
3B HERALD ST, CHELTENHAM
A townhouse in Cheltenham sold for $1.405m to a couple at its 45-minute auction.
The four-bedroom abode had $1.35m-$1.45m price hopes while it was listed, and bidding began at $1.28m.
That offer was soon followed by a vendor bid of $1.33m by Ray White Cheltenham auctioneer Angela Limanis but was replaced by a bid from the crowd of the same amount.
However, Ms Limanis placed another vendor bid of $1.36m before the auction was paused for around 20 minutes.
Following the break, Ms Limanis announced that they’d received an offer of $1.405m from a couple in the crowd and it was shortly sold.
113 WILSON ST, BRUNSWICK
The three-bedroom house in Melbourne’s inner north sold for $65,000 above its on the market price at its auction this morning.
With initial $1.6m-$1.7m price hopes, the auction began with a $1.6m bid and offers proceeded to rise in $20,000, $10,000 and $1,000 increments from there.
It was a three-horse race by the end and the home sold for $1.775m.
Ray White Brunswick auctioneer Jamil Allouche said the house was in a truly family location and was ready for someone to move straight in.
“It’s neat as a button, it’s classy; it’s 22-years-old and absolutely impeccable,” Mr Allouche said.
He added the abode had high ceilings and polished, hardwood flooring throughout with a gorgeous entertaining space.
EARLIER IN THE WEEK
An Auslan interpreter helped conduct an auction in Melbourne’s southeast on Wednesday night, a first for the real estate agency and auctioneer.
28 JACANA ST, NOBLE PARK
The three-bedroom home at 28 Jacana St, Noble Park, sold under the hammer in its midweek auction as Ray White Victoria & Tasmania chief auctioneer Jeremy Tyrrell and Expression Australia interpreter Alex Notsis led proceedings.
Ray White Noble Park principal Allison Grant said the seller of the abode had a number of family members who were deaf which was what spurred the idea to bring on an Auslan interpreter for the auction.
Ms Grant said this was a first for the agency and had opened her eyes to incorporating an interpreter on a needs-basis moving forward.
“It’s not until now that I’ve realised that there are buyers out there that are deaf obviously; it’s really opened my eyes to what we can do when required,” she said.
“We’ve had interpreters for language barriers; we would like to think that this would become part of our auctions moving forward.”
Mr Tyrrell, who was the auctioneer on the evening, said it was the first time he ever conducted an auction with a sign language interpreter in his 20 years in the industry.
“You do those and you think, why haven’t we done that sooner?” he said.
AUCTION REPLAYS AND RESULTS
“I messaged the chief executive for Ray White straight after and said, we need to take a serious look at maybe including this more often in our online auction presentations.”
He added that it was a “game changer” in terms of inclusion and accessibility in the auction space.
Priced at $680,000-$748,000, a first-home buyer family with children snapped up the brick home after competitive bidding between five groups.
The residence ended up selling for $80,000 above its reserve price for $810,000.
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sarah.petty@news.com.au
Originally published as Herald Sun Real Estate auction blog: Livestreams and rolling updates from the auction market
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