Herald Sun Real Estate auction blog: Livestreams and rolling updates from the auction market
Former St Kilda footballer turned AFL field umpire Leigh Fisher has scored a strong sale of his family home in Sandringham. Catch up on all the action from the blog.
Property
Don't miss out on the headlines from Property. Followed categories will be added to My News.
Melbourne’s property market is heating up after its traditional January lull, with about 640 homes going under the hammer this week.
The Real Estate Institute of Victoria estimates volumes will rise again to Super Saturday levels in the following weeks, forecasting more than 1000 auctions for three weeks after.
St Kilda defender Jimmy Webster and AFL field umpire Leigh Fisher are among the hundreds of vendors hoping for a strong sale this Saturday.
Scroll down to watch live auctions, replays and for all the day’s sales results.
RELATED: $81,500 plunge tipped for Melbourne homes
New $25.8bn home record in 2021, but ‘concerning’ apartment approvals
How does a pool affect your home’s value
5 WENTWORTH AVE, SANDRINGHAM
Former St Kilda player turned AFL field umpire Leigh Fisher has scored a strong sale of his picture-perfect family home in Sandringham.
Fisher and wife, Jodie, had listed their five-bedroom house at 5 Wentworth Ave with $2.2m-$2.4m price hopes.
Marshall White Bayside director Matthew Pillios said the property sold just north of its price guide to a local young family, a massive crowd of hundreds watched on.
“It was an amazing auction, (we had) three bidders.”
Out-of-area buyers also competed for the 704sq m home, complete with a pool, cabana, cubby house and barbecue.
16 HORNE ST, BRUNSWICK
This pretty period pad in Brunswick sold for a whopping $2.89m after an offer bought the listing to an early auction.
Jellis Craig Northcote’s Justin Mellar said a buyer expressed interest to buy the four-bedroom house for $2.52m earlier in week, already surpassing the vendor’s reserve.
“We had six bidders compete,” Mr Mellar said.
But he noted the result was “extraordinary”, with very high competition compared to others on the market right now.
“Really good quality family homes that are renovated (are selling strongly), with family buyers having big budgets (for those listings),” he added.
“But homes that need a bit of work are struggling, so I’ve been telling buyers to keep their head up because not everything is flying.”
“It’s just back to a normal market now.”
10 HIGHFIELD DRIVE, MICKLEHAM
Investors are also back in the market this year as one scored the keys to a four-bedroom pad in Mickleham.
The listing attracted three bidders and sold for $621,000, Ray White Craigieburn’s Adrian Prestileo said.
“I had instructions to sell for north of $620,000,” Mr Prestileo noted.
“(The buyers) were buying it as an investment. Mickleham is still offering very good value for money, and it hasn’t hit its peak yet. There’s definitely going to be more opportunity.”
8 SALISBURY COURT, WANTIRNA
A four-bedroom family home in Wantirna landed a $1.16m amid fierce bidding — soaring past its $900,000-$990,000 price hopes.
McGrath’s Chris Cao encouraged buyers to put their best offer in for the abode, or risk going back to house hunting for months.
“It’s really hard to find a home (with two living spaces),” Mr Cao said.
The No. 8 home also had the added benefit of being a lucky number, especially in the period of Chinese New Year, he said.
Bidding opened at $910,000 and started slow, before a bidding war erupted as the price hit $1m.
20 FAHEY CRES, YALLAMBIE
In Yallambie in Melbourne’s northeast, 20 Fahey Cres was up for grabs with price hopes of $760,000-$800,000.
The three-bedroom home occupied a 608sq m block, and attracted 11 bids in a no-frills auction before the hammer fell at $880,000.
Barry Plant’s David Moxon wasted no time calling the property on the market at $840,000.
“Clearance rates last week were up to 82 per cent … so you can see the market is going to continue to push where it left off last year,” he warned bidders.
1/31 BROWNFIELD ST, PARKDALE
A two-bedroom villa in sought-after Parkdale slowly climbed from its opening bid of $760,000 until it was called on the market at $820,000.
After 31 bids the pad sold for $875,000.
Five bidders competed for the recently renovated home.
Barry Plant auctioneer Michael Care said there was “absolutely nothing to do but come and move you furniture in and enjoy the property”.
“(It’s) in an absolutely A1 location, with public, private, primary and secondary schools around the corner.”
1/141 RALEIGH ROAD, MARIBYRNONG
In Maribyrnong, a “beautifully renovated home just steps from Highpoint” shopping centre was proving popular among first-home buyers.
The two-bedroon house was scheduled to go under the hammer today, but listing agent
Woodards Ascot Vale’s Sam Abboud said they opted for a private sale at the 11th hour.
“Many buyers were first-home buyers and couldn’t commit to buying unconditionally at an auction,” Mr Abboud said.
The change to a private sale allowed buyers to include subject to finance conditions and had already received a strong offer, he added.
AUCTION REPLAYS AND RESULTS
But Philip Webb chief executive Anthony Webb said demand appeared to be softening, with some buyers “pulling out” of deals during cooling off periods.
“What this indicates is the market is coming back to balance,” Mr Webb said.
“When a buyer cools off it usually means they can’t get finance, they think they’ve paid too much for the property, or they have found another property they like more. When the market is really hot, you see a lot more unconditional sales.
“So, what this shows is buyers aren’t as desperate as they were six to 12 months ago and are giving themselves more time to think things through and have more stock to choose from.”
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: Natasha Morgan: Landscape architect lists Spargo Creek home
Jason Johannisen: Dashing Dog lists stylish Yarraville family home
MacRobertson Chocolate Factory: Golden ticket to own ‘Willy Wonka’ warehouse conversion
First look: New Coast shopping centre for surprise site
A long-empty site in a surprise location will be transformed into a retail showroom complex under fresh plans lodged with the council. FIND OUT WHERE
Revealed: How much rent you need to pay in every Qld suburb
Rents have increased again in 252 Queensland suburbs, reversing the brief downward trend recorded just three months ago. See how your suburb compares!