Herald Sun Real Estate auction blog: Replay property auctions and see all the results
A house in Melbourne’s east boasting a rooftop deck with a sauna sold for more than $500k above expectations on Saturday, while a 152-year-old Eaglehawk cottage also has a new owner.
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A swish Hawthorn East house featuring a rooftop sauna has fetched a price more than $500,000 above expectations at a competitive auction on Saturday.
And the Reserve Bank’s decision to keep rates on hold is set to increase competition among homebuyers at Victoria’s 914 auctions this week.
Tune into the Herald Sun’s blog to catch up on results and catch up on auctions via Gavl.
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PropTrack senior economist Anne Flaherty said the RBA’s Tuesday announcement that it would leave the cash rate unchanged at 4.35 per cent was welcome news for house hunters.
“Auction activity will be slightly higher this week compared to last, with next week set to be even busier,” Ms Flaherty said.
“What’s more, expectations that interest rates are unlikely to increase further over the second half of the year are likely to bolster increased confidence among buyers.”
Melbourne-based auctioneer Andy Reid said that after weeks of speculation that the RBA might raise rates, the news they would remain the same “will certainly get a few more buyers out into the marketplace”.
AUCTION REPLAYS AND RESULTS
And since January, many landlords have put their Victorian rentals on the market after the state government hiked land taxes on investment and secondary properties worth $50,000 or more, compared to the previous $300,000 threshold.
“With more confidence coming into the market for buyers, we should hopefully see the clearance rate and success rate at the coalface drift upwards,” Mr Reid said.
“With both Commonwealth Bank and Westpac having said they’re expecting interest rate drops in the not too distant future, buyers will be encouraged to enter the market – particularly developers who try to anticipate things before they happen, so here’s hoping some of that investment stock will actually start to move on.”
The state recorded a 58 per cent auction clearance rate last week.
18 MUNRO ST, HAWTHORN EAST
A Hawthorn East house featuring a 40sq m rooftop deck with a dining bar, infra-red sauna, powder room and outdoor shower scored a $505,000 bonus at auction.
The four-bedroom abode at 18 Munro St Hawthorn East, is also home to a living area with a gas fireplace, a built-in dining booth and marble-fitted bar with a fridge.
Listed with $2.8m-$3m price hopes, multiple bidders drove the price to above $3m as two main competitors kept one-upping each other.
The house was placed on the market just before a $3.375m offer but ended up selling for $3.505m, a sum $505,000 above the advertised range’s upper end.
“You’ll look later in the spring market and realise this was outstanding bidding,” Jellis Craig Inner North partner Antony Woodley told the crowd.
He had the listing along with Jellis Craig Boroondara’s Mike Beardsley.
118 VICTORA AVE, ALBERT PARK
A renovated Victorian-era house at 118 Victoria Ave, Albert Park, sold at a blink-and-you’ll-miss-it auction.
The two-level home features a marble-fitted kitchen with Gaggenau appliances and a butler’s pantry, steel-framed French doors opening to a garden terrace and a Gio Ponti brand light fitting in the hallway, dating from the 1950s.
Giovanni “Gio” Ponti was an Italian architect, industrial designer and furniture designer best known for Milan’s Pirelli Tower and the Villa Planchart in Caracas.
Marshall White Port Phillip’s Ben Manolitsas said the opening bid was $2.85m and the house sold shortly afterwards for $2.9m, to a downsizer.
“The sales result underscores the strong demand and premium prices for renovated turnkey homes,” Mr Manolitsas said.
“With construction delays and increased costs, these turnkey properties are excelling in performance and experiencing intense competition.”
He said the Albert Park and Middle Park area was “proving to be highly resilient, with low supply and high demand clearly evident in the competitive bidding for 118 Victoria Ave”.
8 GLYNDEBOURNE AVE, TOORAK
A heritage-listed house at 8 Glyndebourne Ave, Toorak, designed by noted Marcus Martin as his own home has a new owner.
Listed with a $4.9m-$5.39m range and named Banchory, the 1920s-built residence features original ceilings and fireplaces.
Martin was known as an architect to the era’s rich and famous, also designing residences for Hollywood film star Claire Adams after she moved to Australia, oil magnate Sir Hamilton Sleigh and former Prime Minister Malcolm Fraser’s parents Una and John Fraser.
Marshall White Stonnington’s Mark Harris said one bidder took part in the auction.
The historic property passed in on a $4.85m bid but sold for an undisclosed price afterwards, following negotiations with the bidder.
“They were enticed by the architectural style and the fact it was Marcus Martin’s own house,” Mr Harris said.
5 CLARKE ST, EAGLEHAWK
A circa-1872 stone cottage, built in by Cornish copper miners who settled near Bendigo during the Australian Gold Rush, attracted two bidders.
The house at 5 Clarke St, Eaglehawk, was listed with a $599,000-$655,000 price tag.
It’s in an area known as Old Harvey Town, that became home to a group of miners originally from Cornwall in the UK.
Heritage documents state the abode was built for a miner named Thomas Tonkin.
Ray White Bendigo’s Ella Douch said the current owners had done a wonderful job extending and renovating the house which features leadlight windows and a wood fireplace in the dining room.
Ms Douch said the house passed in on a $575,000 bid but sold during post-auction negotiations for $655,000.
“The new owner loved the garden and the history of the home,” Ms Douch said.
5 EGERTON AVE, CHELTENHAM
More than 50 onlookers watched a Cheltenham house go under the hammer, at one of the weekend’s most entertaining auctions.
The three-bedroom home at 5 Egerton Ave was listed with a $895,000-$980,000 asking range but as five buyer groups competed for the keys, offers quickly rose above $1m.
When the bidding hit $1.111m, Ray White Cheltenham agent and auctioneer Greg Brydon said, “All the ones are lined up like singles on Tindr.”
At little while later, he urged the bidders “to feel like Taylor Swift and go to 22” when encouraging them to make a $1.22m bid.
“22” is a song from Swift’s from fourth studio album, titled Red.
Ray White Cheltenham’s Trevor Bowen – whom Mr Brydon referred to as “mayor of the Cheltenham gold triangle” during the auction – said a first-home buyer couple purchased the house.
Mr Bowen said the auction “went nuts” as bidding rose higher and resulted in a $1.131m sale.
The area known as the suburb’s golden triangle, that is bordered by three main roads including Centre Dandenong Rd, attracted several buyers to the home thanks to its nearby shops and public transport, plus the added bonus of having 23 schools within 5km, Mr Bowen added.
3/29 GLENCAIRN AVE, CAMBERWELL
Three downsizers competed to secure a Camberwell unit at an auction which saw the home sell for $180,000 above reserve.
The three-bedroom residence at 3/29 Glencairn Ave, one of three at the address, was built just seven years ago.
Heavyside director and auctioneer Tim Heavyside announced the abode on the market at $1.56m.
Mr Heavyside said a woman who wanted to move closer to her daughter’s home was “very excited” to buy the unit for $1.74m.
The home features a north-facing open-plan living area, large picture-style windows and sliding doors that open to a deck and landscaped gardens.
The kitchen is equipped with a stone-topped waterfall bench, Miele appliances and an adjacent laundry that can double as a butler’s pantry.
2/14 WEIGELA COURT, FOREST HILL
A unit at 2/14 Weigela Court, Forest Hill, sold for a higher-than-expected figure.
The two-bedroom hone was advertised with a $680,000-$740,000 asking range and bidding opened at $680k.
McGrath Blackburn director and auctioneer Chris Manolopoulos called the property on the market on a $790,000 bid.
“There’s not many homes on the market as stylish and as open-plan as this one,” he said.
The hammer came down soon afterwards, on a $798,000 bid.
Located near Mt Pleasant Road Primary School, Nunawading train station, the Eastern Freeway and numerous parks, the unit features a laundry with access to the garden,
gas ducted heating, a split-system air conditioner in the living area and a single lockup garage.
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Originally published as Herald Sun Real Estate auction blog: Replay property auctions and see all the results
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