Herald Sun Real Estate auction blog: Live streams and rolling updates from the auction market
Watch the bidding action as author and Round the Twist creator Paul Jennings’ former St Kilda pad goes under the hammer. We have all the auction action with rolling updates and streams.
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Melbourne is set to welcome in the new financial year with a big Super Saturday of auctions, including children’s author Paul Jennings’ old St Kilda pad, which we’ll be livestreaming.
More than 1140 are scheduled for Victoria this week, with 1086 to take place across the metropolitan region.
Replay the auction here
The Herald Sun’s auction blog is the place to follow all the action, with livestreams taking place at 3/39 Eildon Rd, St Kilda, at 10am, 60 Moore St, South Yarra, at 11am, and Jennings’ transformed old place at 20 Acland St, St Kilda, at 12.30pm.
Scroll down for rolling updates from across the city.
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20 ACLAND ST, ST KILDA
Ending our auction coverage was the stunning sale of children’s author and Round the Twist creator Paul Jennings’ former St Kilda home.
After a slow start three bidders entered the fray to push the sale of the extensively renovated 20 Acland St abode to $2.67m.
Not even a close call between the auctioneer and a passing car could slow the action once it started, with about 20 quick successive bids carrying the sale to its final result.
The property was called on the market at $2.57m and was advertised with a $2.1m-$2.3m guide.
Whitefox director Marty Fox earlier told the Herald Sun the property had a colourful history as a brothel “back in the day”.
The facade was more than a century old but on the inside the vendor had turned the property into a “resort-style” luxury residence,” he said.
“It has a beautiful resort-style pool and swim-up bar-like seating all around.
“And it’s down the road from the Saint Moritz (luxury development), which is the future millionaires’ – or billionaires’ – row.”
40 SALISBURY GROVE, NORTHCOTE
A stunning three-bedroom residence at 40 Salisbury Grove, Northcote, has sailed past its reserve by $239,000 in an impressive result on Saturday.
Five bidders comprised of you couples, families and an expat bidding from overseas competed for the renovated but gorgeously preserved period-style charmer, which sold for $1.789m.
McGrath agent Paul Rodighiero said the property was on the market within the first $1.66m bid.
It had been advertised with a $1.45m-$1.5m guide and a young family won the keys.
Mr Rodighiero said the Edwardian-style property was highly sought after in the area and there was a shortage of quality properties on the market.
This drove buyer competition under the hammer.
“It was emotional day as the property had been with the family for 31 years,” Mr Rodighiero said.
5 MARGARETTA AVE, MURRUMBEENA
Three bidders competed for 5 Margaretta Ave, Murrumbeena, which sold $80,000 over its reserve on the weekend.
A developer with plans to raze the existing three-bedroom residence and build two new homes won the bidding war with a $1.64m top offer.
The property had been advertised for $1.5m-$1.6m.
Buxton agent Christian De Frece said the “original” home had not been updated since it was built and the vendor was “wrapped” with the outcome.
“The buyer was a family developer looking to develop the site and keep one and sell one. (They have) young children hoping to go to McKinnon Secondary College,” Mr De Frece said.
17 BEDFORD RD, RINGWOOD
Developers keen to get a slice of Ringwood real estate have treated the vendor of 17 Bedford Rd, Ringwood, to $125,000 bonus on top of their reserve.
Three bidders battled it out for the dated three-bedroom residence, which sold for $1.275m on the weekend.
Andy Reid of the Sold By Group said the 772sq m site came with approved plans for a five unit development.
The block is also within walking distance of Ringwood train station.
Mr Reid said local developers were feeling the pressure to make land purchases before borders opened up and international buyers entered the market again looking for properties.
“Local money is seeing potentially the last chance to get back into the market before international money comes flooding back in,” Mr Reid said.
3/25 BALES ST, FERNTREE GULLY
A pretty three-bedroom Hamptons-style townhouse in Ferntree Gully fetched $745,000 under the hammer on Saturday morning.
Three bidders competed for the keys to 3/25 Bales St, which had been advertised for $650,000-$715,000.
Stockdale & Leggo agent Robert Spano said a first-home buyer emerged the winner.
The white weatherboard, double-storey property counts timber floors, a kitchen with stainless steel appliances and an island bench, a double garage and a covered pergola among its drawcards.
Mr Spano said the property also had amazing views of the surrounding area and the market was going well despite the cool winter conditions.
“The market is still very competitive and buyers are bidding with confidence,” Mr Spano said.
12 HURLINGHAM WAY, CRAIGIEBURN
An investor swooped in to score 12 Hurlingham Way, Craigieburn, ahead of other buyers for $612,000.
Four bidders comprised of owner-occupiers and investors competed for the four-bedroom residence that had been advertised with a $550,000-$590,000 price guide.
Ray White agent Daniel Diamantopoulos said the home was at the “perfect price point” for many buyers.
Its central location near shops, public transport and schools also made it a winner for families and investors.
The property was marketed as a “terrific opportunity” for young and growing families due to its spacious open-plan living and dining area, big kitchen and large backyard.
Mr Diamantopoulos said: “The home was immaculate and had a lovely backyard for pets and for kids to play.”
16 FALKLAND RD, CRAIGIEBURN
A tidy three-bedroom brick residence at 16 Falkland Rd, Craigieburn, has fetched a pretty penny after it sold $98,000 over reserve.
A first-home buyer won out against three other bidders after placing a $618,000 top offer for the 2014-built home at the Wednesday night auction.
The property had attracted primarily first-home buyers and investors and was advertised with a $479,000-$509,000 price guide.
Barry Plant’s Damien Crivelli said stamp duty savings for first-home buyers and investors, some of which ended at midnight on June 30, had sweetened the deal for prospective buyers.
The pad was also in a great location near local parks.
“I still personally feel that Craigieburn is one of the best value for money suburbs in Melbourne,” Mr Crivelli said.
60 MOORE ST, SOUTH YARRA
A renovated Victorian-style worker’s cottage at 60 Moore St, South Yarra, sold for “just shy” of $1.4m after it passed in on Saturday morning.
The auction kicked off at 11am, with the auctioneer placing a $1.35m vendor bid as a small crowd watched on.
A sole bidder placed a $10,000 bid before the property was passed in at $1.36m.
The agent and the vendor then negotiated a deal with the bidder, with Kay & Burton agent Nathan Verwoert confirming the sale with the Herald Sun later in the day.
The property had been advertised with a $1.32m-$1.45m price guide.
Speaking before the auction, Mr Verwoert said the property was perfectly positioned close to transport, restaurants, cafes and shops.
“It’s kind of your quintessential South Yarra living … it’s in a little pocket of South Yarra near Fawkner Park and the Prahran Market.”
65 LYONS RD, CROYDON NORTH
A couple emerged the victors in the battle for 65 Lyons Rd, Croydon North, which smashed its reserve by $310,000 during the week.
Thirteen bidders including first-home buyers, downsizers and investors threw their hat in the ring for the 1940-built white weatherboard, which sold under the hammer on Wednesday for $1.15m.
The residence had been advertised with a $770,000-$840,000 price guide, with the vendor’s reserve sitting at the top of the advertised range.
Philip Webb agent Joseph Corsi said the buyers engaged a buyer’s advocate to help secure the purchase.
The vendors had also undertaken an impressive renovation, including updating the kitchen, bathrooms and extensive landscaping.
These new features were blended with the property’s existing old-style charm, including hardwood floorboards, a bullnose veranda and open fireplace.
“The property was very well renovated and had a great blend of character and modern elements,” Mr Corsi said.
“One of the owners is a landscaper, so the property was immaculate from the front gate to the back fence.”
3 HUON COURT, KEILOR
A dated abode owned by the same family for more than four decades scored a stunning result after an impressive early offer triggered an early auction.
The pad at 3 Huon Court, Keilor, was on the market for the first time in 44 years when a keen prospective buyer attempted to beat the competition to the punch with a strong $930,000 pre auction offer.
Barry Plant agent Andrew Koulaouzos said the auction was brought forward by more than two weeks from July 17 to June 30.
Six bidders – all families – competed for the keys, with the winning $1.107m bid taking the sale $277,000 beyond the top of the advertised range.
The property had been listed with a $780,000 – $830,000 price guide.
3/39 EILDON RD, ST KILDA
A one-bedroom Art Deco apartment at 3/39 Eildon Rd, St Kilda, sold for $510,000 on Saturday after initially being passed in on a $460,000 vendor bid.
Three prospective buyers attended the 10am auction but McGrath agent Melanie Walden said all were unable to place bid because they were waiting on lending approval from their banks.
The property was advertised with a $450,000-$490,000 guide and the purchase is subject to finance.
The period-style ground-floor pad is in a boutique block within easy reach of all of St Kilda’s main attractions as well as public transport.
Drawcards include a big bedroom with a built-in robe, a modern kitchen with stainless steel benches, timber floors, a cosy open fireplace in the loungeroom and high ceilings.
Ms Walden said first-home buyers and downsizers had shown interest in the property.
573 MORELAND RD, PASCOE VALE SOUTH
A first-home buyer scored a win under the hammer after they beat out other bidders to the keys of 573 Moreland Rd, Pascoe Vale South.
Three hopeful buyers pushed the sale $94,000 over reserve to $894,000.
The two-bedroom pad had been advertised with a $750,000-$800,000 price guide.
Nelson Alexander Pascoe Vale agent Cody Bettanin said low stock on the market had created extra pressure on buyers.
The home’s location near Moreland Rd buses, Glenbervie Station, CityLink and the Moonee Ponds Creek Trail were drawcards.
As was its position within the Strathmore Secondary College school zone.
“(It was) a very well maintained property in a convenient location,” Mr Bettanin said.
High ceilings, stone benches in the kitchen, an extra-large main bedroom with a walk-in robe, glossy floorboards, and a modern, fully-tiled bathroom with a freestanding bath and a rain-head shower were among the property’s many drawcards.
3/9-13 PERCY ST, MITCHAM
A rollercoaster sale campaign has resulted in a fairytale ending for the vendor after their home was listed and sold twice in just one month.
A young family picked up the two-bedroom unit at 3/9-13 Percy St, Mitcham, for $660,000 after its stop-start campaign was interrupted by Melbourne’s lockdown.
Philip Webb’s Andrew Jose said the tidy pad, one of a boutique block of 10 other units, first hit the market 24 hours before Melbourne’s latest lockdown.
A desperate buyer offered $650,000 for the property during the lockdown – well beyond the advertised price – but was forced to back out during the cooling off period after they lost their job.
Mr Jose said the unit was listed again as soon as restrictions eased and went to auction on Wednesday.
It was passed in and negotiations with the highest bidder failed to achieve a sale.
But Mr Jose said two other prospective buyers contacted him on Thursday to inquire about the address, with one of them making a winning $660,000 offer.
The result meant the vendor made an extra $10,000 on top of the previous sale price.
“After the rollercoaster of the sale campaign the vendor was delighted with the result,” Mr Jose said.
“The pandemic has taught us to be flexible, adaptable, empathetic, and resilient. This sales campaign needed all these attributes.”
Earlier in the week, new financial year tax changes drove strong midweek auction results across Melbourne.
From July 1, purchasers of established homes in Victoria valued up to $1m are no longer eligible for a 25 per cent stamp duty waiver.
The state government introduced the discount last year in a bid to kickstart the state’s property market following a year of Covid-19 lockdowns.
But now buyers must now pay the full tax on residential purchases, unless they qualify for pre-existing potential exemptions and concessions for first-home buyers.
And property purchases worth more than $2m will be slugged with an extra 1 per cent stamp duty, with the rate rising from 5.5 to 6.5 per cent.
Ray White Victoria chief executive Stephen Dullens said the looming changes had put pressure on buyers who wanted to secure the tax saving ahead of the June 30 deadline.
The savings gave buyers extra spending power under the hammer, he said.
And Melbourne’s recent lockdown had inadvertently resulted in a flood of properties going to auction this week, as sale campaigns for homes launched when restrictions first eased were now reaching their conclusion.
In Croydon North, 13 bidders battled it out on Wednesday evening for the four-bedroom home at 65 Lyons Rd, which sold $310,000 over reserve for $1.15m.
Philip Webb’s Joseph Corsi said the property’s immaculate renovation and garden were big drawcards.
Five bidders competed for the keys to 7 Nhill Court, Dallas, which sold $96,500 over the top of the range for $616,500.
And three first-home buyers drove the sale of 119 Moor Park Drive, Craigieburn, $42,000 beyond the quoted range to $622,000.
Mr Dullens said Ray White had 75 midweek auctions scheduled across the state this week — far more than their usual 20 odd auctions.
More than 970 auctions are scheduled across Victoria this week.
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