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Herald Sun Real Estate auction blog: Livestreams and rolling updates from the auction market

ARIA-award winning singer and composer Julia Stone is among the more than 1150 homeowners hoping to add auction-winning seller to their list of accolades this week in Victoria.

Julia Stone is putting her first home under the hammer on Saturday.
Julia Stone is putting her first home under the hammer on Saturday.

Aussie singer and composer Julia Stone is headlining Melbourne’s auction market this week as she puts her first home under the hammer.

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.

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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.”

Julia Stone’s first home at 2/85 Westbury St, St Kilda East is going to be auctioned.
Julia Stone’s first home at 2/85 Westbury St, St Kilda East is going to be auctioned.

However, the economist said Victoria still remained the auction capital of Australia despite New South Wales leading the nations for scheduled auctions this week.

One property going under the hammer on Saturday is the two-bedroom apartment at 107/122 Roseneath St, Clifton Hill which has garnered interest from downsizers.

Nelson Alexander Fitzroy listing agent Aiden Ganino said a couple of parties had been circling the home, which had been presented “immaculately” by the sellers.

107/122 Roseneath St, Clifton Hill, is going under the hammer at 11:30am on Saturday.
107/122 Roseneath St, Clifton Hill, is going under the hammer at 11:30am on Saturday.

He added that it was located in a sought-after complex.

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.


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sarah.petty@news.com.au

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