Herald Sun Real Estate auction blog: Livestreams and rolling updates from the auction market
A retired couple scored a huge bonus on their Rowville property after it sold under the hammer in front of a crowd of 150 people. REPLAY PROPERTY AUCTIONS & SEE ALL THE RESULTS.
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A retired couple have offloaded their Rowville property for more than four times what they paid for it 20 years ago, pocketing a $216,000 bonus at its Saturday auction.
Four bidders went up for the 51 Buckingham Drive pad, which had a $1.35m reserve.
A huge crowd of about 150 spectators watched on as the three-bedroom house flew above expectations to notch a $1.566m sale — a mega $1.241m more than the $325,000 its vendors paid back in 2002 for the bare block.
It was one of about 845 auctions scheduled across Victoria this weekend according to PropTrack, with live sales to be streamed and updates on auctions from around the city here from 10am today.
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Ray White Oakleigh agent Nick Strilakos handled the sale and said he created hype for the auction by doorknocking beforehand and inviting people for a free coffee and to watch the auction.
Mr Strilakos said the sellers were rapt with the result, which set a new record for the street.
A family looking to upsize won the keys.
It comes as exclusive data from PropTrack shows the areas across the state where home values have improved the most this year amid strong buyer demand and low stock levels.
In the city, Werribee South was the best performing suburb after median house prices shot up by 6.5 per cent to reach $898,000.
The western ‘burb was closely followed by Vermont South, Eden Park, Blackburn South and Burwood East, where the cost of a typical house grew by 5 per cent or more.
Jellis Craig Whitehorse auctioneer Adrian Nyariri said there was a notable uptick in both demand and property prices in the Blackburn South area this year, particularly as families shy away from new builds and opt to bid for turnkey homes instead.
“Being near the Box Hill school zone attracts a lot of families,” Mr Nyariri said.
“People start by looking around Burwood, Mt Waverley and Glen Waverley, but they’re more expensive so they start looking for the next best option, and Blackburn South has better value.”
The auctioneer added that quality homes that were ready to move into were the most popular for auction sales.
“Given the cost of building, people are shying away from that avenue compared to turnkey homes, which they’re happy to pay a 5-10 per cent premium on,” he said.
Mr Nyariri sold a four-bedroom house in Blackburn South after its Saturday auction.
Three bidders competed for the 16 Brazeel St pad at the weekend auction, which opened with a $1.3m offer.
Although it passed in at $1.45m, further negotiations led to a $1.48m sale to a young family who had sold their home in Point Cook and were renting in Box Hill in the interim.
It initially had a $1.35m-$1.45m price tag.
AUCTION REPLAYS AND RESULTS
Nearby in Chadstone, a three-bedroom fixer upper went “gangbusters” after five competitive buyers pushed offers $130,000 over reserve.
The 25 Vision St property drew a crowd of about 90 people at the Saturday morning auction, which kicked off with a $1.2m bid.
About 45 offers were placed thereafter, before the three-bedroom pad flew above the $1.3m reserve price.
A young couple secured the dwelling with the final $1.43 bid.
Ray White Blackburn auctioneer Allan Smith said the property was likely to be a new home site.
“It’s a nice family area but a lot of townhouses and apartments are going up,” Mr Smith added.
The 818sq m property was initially listed with a $1.175m-$1.29m price tag.
7 VIEWMONT COURT, DONCASTER
A four-bedroom Doncaster house scored a mega $1.805m sale under the hammer after three bidders competed for the keys.
Offers opened at $1.5m but it seemed as though buyers needed a bit of encouragement from McGrath Box Hill auctioneer James Moss.
Bidding eventually picked up and rose from $1.55m to $1.675m, until Mr Moss called the property onto the market after a $1.805m offer that became the winning bid was placed.
The Tudor-style property was first listed for $1.5m-$1.65m with McGrath Box Hill director Ellie Gong and saw about 80 inspection groups throughout its campaign.
1 WOODVALE GROVE, ROSEBUD
Down on the Mornington Peninsula in seaside hamlet Rosebud, a renovated three-bedroom house originally built in the 1960s saw a strong result at its Saturday auction.
Five bidders, mostly comprising retirees, competed for the keys to the 1 Woodvale Grove pad in front of an 80-person-strong crowd.
Offers kicked off at $980,000 and flew up to $1.05m, when the property was called on the market.
It eventually sold for $1.171m under the hammer to a couple looking for a holiday hideaway.
Belle Property Rosebud director and auctioneer Grant McConnell helmed the sale and said the house was originally an “old beach shack from the ‘60s” which was later renovated with a spacious, open-plan extension at the front.
“It also has a nice big shed at the back with a 3m opening, so it’s perfect if you had a boat or a caravan that you could get in off the street … that’s quite rare,” Mr McConnell said.
“And the location is bordering McCrae so it’s a less than five-minute walk to the beach.”
25 ROSE ST, COBURG
A three-bedroom house in Coburg also sold under the hammer on Saturday afternoon after a “knockout” opening bid pushed a handful of buyers out of the race.
The auction for 25 Rose St kicked off with a $1.4m offer, immediately surpassing the reserve of $1.32m.
While only two buyers went in for the keys, McGrath Coburg director Michael Chan said there were likely four others who were knocked out by the strong first bid.
The initial buyer made another “aggressive bid” and placed the winning offer of $1.5m.
“It’s in the Strathmore Secondary zone which is a positive and because it’s in walking distance to the Melville Rd tram it has been of interest,” Mr Chan said.
“It still needs to be updated but is also a house that someone could move straight into.”
The 592sq m property was first listed for $1.28m-$1.4m.
EARLIER IN THE WEEK
A three-bedroom house in Keilor Downs scored a strong midweek auction result after a whopping 20 buyers signed up to bid.
But with the competitive nature of the auction, only six were able to put their hand up for the 3 Benz Court pad, which sold for $755,500 under the hammer on Wednesday evening.
The contemporary home, sold by Ray White Taylors Lakes auctioneer Peter Travlos, was popular among first-home buyers and downsizers.
Mr Travlos also helmed another auction sale on Wednesday night at 3 Chance St, Greenvale.
The “resort-style” six-bedroom pad snared a $1.867m sale at the in-room auction.
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