Herald Sun Real Estate auction blog: Livestreams and rolling updates from the auction market
A couple have bought an abode moments from their home on the same street at one auction out of more than 1150 running across Victoria this weekend. WATCH AUCTIONS LIVE.
Property
Don't miss out on the headlines from Property. Followed categories will be added to My News.
A young couple snapped up a new abode just moments from their home on the same street at its Saturday auction.
The three-bedroom villa at 2/20 Gillman St sold for $50,000 above its $1.2m-$1.3m price range for $1.352m and joined hundreds of homes going under the hammer this weekend.
This comes as Aussie singer and composer Julia Stone headlines Melbourne’s auction market this week as she puts her first home under the hammer.
RELATED: Serial Block buyer’s surprise new side hustle
‘Bondi of the Gold Coast’: Huge interest in Hewitts beach mansion
First look inside Toorak’s Cranlana estate being sold by retail empire founders
Stone, known for her part in folk and indie music duo with her brother, Angus, has listed her two-bedroom apartment at 2/85 Westbury St, St Kilda, with a $880,000-$940,000 price tag.
As the seasonal peak for residential sales approaches, PropTrack data shows Melbourne has 1113 auctions scheduled and regional Victoria has 43 — with the combined figure 10 per cent higher than this time last year.
The suburbs with the highest number of arranged auctions this week on realestate.com.au are Reservoir, 28, Glen Waverley, 21, and Preston, 18.
PropTrack economist Anne Flaherty said there had been in increase in the number of homes being listed for sale in Greater Melbourne overall — not just properties going under the hammer.
AUCTION REPLAYS AND RESULTS
“The total number of homes for sale in Melbourne at the moment is 16 per cent higher compared to the same time last year and properties are taking longer to sell,” Ms Flaherty said.
”If we look at the clearance rates in Melbourne, they have come down a little bit from the where they were at the start of the year.
“That might be driving some people to sell their properties in another way instead of an auction.”
However, the economist said Victoria still remained the auction capital of Australia despite New South Wales leading the nations for scheduled auctions this week.
Real Estate Institute of Victoria chief executive Kelly Ryan said they were still seeing very solid auction numbers, creating great opportunities for first-home buyers especially.
She added that the state was close if not at the peak of the spring selling season.
107/122 ROSENEATH ST, CLIFTON HILL
A renovated two-bedroom apartment in Clifton Hill sold for $846,000 to a first-home buyer at its auction.
Listed at $800,000-$840,000, it was a two-horse race when the auction began between a downsizer and first-time purchaser who eventually bought the home for $6000 above its $840,000 on the market price.
Nelson Alexander Fitzroy agent Aiden Ganino said well-renovated apartments were selling and anything that needed work was struggling.
“We’re 70 days away from Christmas, so people are now starting to realise there’s a bit of urgency until Christmas,” he said.
“I wouldn’t say the market’s flying but there is a bit of an uptick.”
Mr Ganino said to the Herald Sun earlier that the abode had been presented “immaculately” by the sellers and was located in a sought-after complex.
3 CHETWYND ST & 2 STANLEY ST, WEST MELBOURNE
Two bluestone West Melbourne houses steeped in history and on the same title were passed in at their auction on Saturday.
The homes were built in 1867 and have both been in the same family for more than 120 years, who had $1.8m-$1.9m price hopes.
The larger family home on Chetwynd St which has been renovated and updated offers three bedrooms, while downstairs, the original shop front now has the dining and living spaces as well as the kitchen and sunroom.
Next door, the two-bedroom residence at 2 Stanley St spans two levels and includes a rear courtyard.
The only offers the auction received were two vendor bids of $1.75m and $1.85m.
W.B. Simpson & Son partner Richard Simpson said a cooper, or barrel maker, originally built the homes and one of them operated as a haberdashery at some point in their long history.
He added that the abodes retained many of their original features.
2/20 GILLMAN ST, CHELTENHAM
A young couple snapped up a three-bedroom Cheltenham unit when it went under the hammer on Saturday for more than $50,000 above its price range.
Bidding began at $1.2m and the villa sold for $1.352m, well above its $1.2m-$1.3m price hopes after competitive bidding from four groups.
Ray White Cheltenham auctioneer Kevin Chokshi said the bidders were a combination of young couples and downsizers, and the home was eventually sold to a young couple who lived on the same street and were upsizing.
“The sellers were a young couple who bought the home and had a family, and have now moved to Queensland. They did a huge renovation before they sold,” Mr Chokshi said.
He added that the market was “really starting to pick up”.
“I think next year will be a really busy year for the market,” he said.
“I have spoken to a lot of sellers who have said they want to put their house on the market next year.”
14/51 KINKORA RD, HAWTHORN
A Hawthorn home in a 1960s block of just 15 units sold at its auction.
The two-bedroom apartment was offloaded for $705,000 after two first-time buyers went head-to-head.
Bidding began at $640,000 and rose by $10,000 increments until the $690,000 reserve price was met, then dropped into $5000 and $2000 rises until it was sold.
The seller’s initial price range was $650,000-$690,000.
The Agency partner Luke Saville said the residence was on one of the best streets in Hawthorn surrounded by $20m-$30m mansions.
“It’s a really nice, bright apartment and in an old, solid double brick building with original floorboards,” Mr Saville said.
1 AUSTIN ST, FAIRFIELD
A four-bedroom weatherboard house a short stroll from the Yarra River sold under the hammer on Saturday morning.
Listed with a $1.75m-$1.925, the property was offloaded for $1.98m — $20,000 above its $1.96m on the market price.
Barry Plant Northcote and Preston auctioneer Loretta Khoo said it was the great family home in the best location for any lifestyle the buyer desired.
She added that it was the area was the perfect combination of tranquillity and convenience, near an abundance of parklands and bike lanes.
The auction kicked off with a vendor bid at $1.85m and two groups threw their hats into the ring.
From there, bidding grew in $10,000, $5000 and eventually $1000 increments until it sold.
6/39 BARKLY ST, BOX HILL
A two-bedroom villa in Melbourne’s east was passed in at its Saturday morning auction.
The sellers initial price hopes were $650,000-$690,000, and the auction began with a vendor bid of $650,000.
After a break in the auction, one group raised their hand offering $651,000.
Woodards Blackburn auctioneer Cameron Way said the property was easy to maintain and had been renovated overtime.
The home has street frontage and is one of just six, with a large lounge and dining area.
There’s a courtyard to the east of the abode, adjoined to the garage and separate laundry.
EARLIER IN THE WEEK
24A PRINCESS ST, FAWKNER
A weatherboard home in the heart of Fawkner sold under the hammer on Wednesday evening for $155,000 above its reserve price.
And prior to the auction, Ray White Coburg even put on a barbecue enticing a crowd of prospective buyers, family of the sellers and friends.
The three-bedroom unit at 24A Princess St, Fawkner sold for $855,000 – $155,000 above its $700,000 reserve price.
Ray White Coburg auctioneer Raphael Calik-Houston said the Twilight auction took place in beautiful weather and it turned into quite the event.
“There was still lots of natural light and the sun was out,” Mr Calik-Houston said.
Bidding began at the bottom of its $600,000-$680,000 range with offers rising by mainly $10,000 increments.
The abode eventually sold to a mature couple who were downsizing, Mr Calik Houston said.
Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.
MORE: Bayside’s biggest beach box has TV, kitchen and Bain-Marie
Apartments for hospital essential workers has $36m hopes
Landlord exodus hits as property listings skyrocket
sarah.petty@news.com.au
Originally published as Herald Sun Real Estate auction blog: Livestreams and rolling updates from the auction market
Median property prices in Australia: October 2024
New quarterly data revealing the shift in the median property prices for units and houses across Australia has been released.
First look: Giant Main Beach tower to rise between two tennis courts
Plans have been unveiled for a giant high-rise tower which will sit between a pair of tennis courts in the heart of Main Beach. SEE THE PLANS