Real Estate auction blog: Livestreams and rolling updates from Melbourne’s auction market
An ‘elegant Edwardian’ home in Caulfield North scored its vendors a mega $540,000 premium under the hammer on the first auction weekend of autumn. SEE AUCTION RESULTS.
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AFL star Liam Shiels and wife Claire’s Hawthorn East home passed in at its auction on the first weekend of autumn.
The three-time Hawks champion, now a midfielder for the Kangaroos, purchased the 14 Roseberry St pad in 2011 due to its location and period features.
Jellis Craig Boroondara auctioneer Michael Wood said it had attracted a mixture of young professionals, downsizers and a couple of investors over its campaign.
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The 273sq m property had a $1.625m price tag and passed in on Saturday, but Mr Wood said three parties came up to negotiate post auction.
“We are in negotiations with a couple of interested parties,” he said.
“We’ve had about 50 or 60 groups through, they loved the position because it’s in a good location opposite the park.”
Shiels previously told Property Confidential that Roseberry St was a “great little community” where residents organised an annual Christmas party.
“We love the old Victorian style,” he said. “Claire and myself are very sociable people and it’s nice to have friends over in the summer for a drink and something to eat or even in winter with the fire pit.”
The 1900-built home was renovated prior to their purchase, but the couple also added a spacious wooden deck at the rear with built-in seating.
AUCTION REPLAYS AND RESULTS
It joined a number of auctions on the first weekend of autumn, after the Real Estate Institute of Victoria predicted about 1010 properties would go under the hammer this week.
PropTrack’s latest Home Price Index revealed Melbourne’s median dwelling price increased by 0.18 per cent to $791,000 in February after remaining flat in January.
But potential interest rate rises and the volume of listings will be a key determinant in whether prices continue to fall in the autumn market.
23 MALAKOFF ST, CAULFIELD NORTH
An “elegant Edwardian” home in Caulfield North scored its vendors a mega $540,000 premium under the hammer after a crowd of more than 150 people watched four buyers compete for the keys.
A confident opening bid of $3m kicked off the auction, at which point Kay & Burton South Yarra partner Grant Samuel immediatly placed the 606sq m property on the market.
Bidding was competitive and a total of 69 offers were placed, pushing the sale price to $3.54m.
“What a way to kick off the autumn selling season with the sale of this Edwardian beauty in Caulfield North,” Mr Samuel said.
“A local family who adores the area secured the keys, knocking the other three parties out of the race.”
1/13 PENLLYNE AVE, VERMONT
A three-bedroom Vermont townhouse scored a $1.060m sale under the hammer after two bidders pushed offers $60,000 over the $1m reserve.
Ray White Forest Hill auctioneer Aaron McDonald was leading the sale of the Penllyne Ave home, which initially had a $950,000-$1.045m price tag.
“It was a different product but it was also very active and two very determined bidders battled it out,” Mr McDonald said.
“Stock is short and good homes that are priced and presented well are getting all the attention as they are few and far between.”
He added that the market this year was looking balanced thus far as he was seeing multiple bidders at auctions.
“Competition is driven by market supply and demand and right now we are in a happy and healthy balanced market.
“Don’t believe the headlines as sellers who are willing to meet the market are achieving good results.”
20 BENNETT ST, FOREST HILL
On “one of the best streets in Forest Hill” six competitive bidders pushed a three-bedroom brick home $211,000 over its reserve.
About 100 people gathered to watch the auction for 20 Bennett St, which opened with a $1m offer.
The home was on the market for the first time since it was built in 1958 and sold to a local family for $1.411m, with the sale led by Ray White Forest Hill auctioneer Hugh Francis.
Mr Francis said more than 130 groups inspected the house over its campaign.
“My sellers are pumped with the result,” he said. “From the first day they kept telling me their house was on the best street in Forest Hill and we had very strong interest from day one.”
It was initially listed for $1.15m-$1.225m.
55 PAKINGTON ST, KEW
Over in Kew, a “derelict” house abandoned for more than 10 years with a history of squatters sold after passing in at its Saturday morning auction.
Three buyers placed offers for the three-bedroom home at 55 Pakington St after a $1.9m vendor bid kicked things off.
It eventually passed in at $2.025m, but further negotiations led to its undisclosed sale, which Abercromby’s Real Estate Armadale auctioneer Simon Curtain said was within the $2m-$2.2m price guide.
Real Estate Armadale auctioneer Mr Curtain said the location of the 749sq m property was a major attraction for buyers.
“The key interest has been for a single residential use, but I imagine it will be knocked over in the near future,” Mr Curtain said.
CAREY ENDORSED PAD PASSES IN
A “magnificent” North Melbourne apartment that football great Wayne Carey appeared as an ambassador for passed in at its Friday night auction.
The former Kangaroos skipper and footy commentator endorsed the four-bedroom 1301/188 Macaulay Rd pad in a real estate video on behalf of OBrien Real Estate.
OBrien Keysborough agent Luke Fornieri led the campaign alongside fellow ex-AFL player turned real estate agent, OBrien auctioneer John Rombotis, who played against Carey in a career spanning time at Fitzroy, Port Adelaide and Richmond.
The apartment attracted two buyers at its twilight auction, where it passed in on a $2.2m vendor bid.
Mr Fornieri said they were now negotiating with the vendor and buyers.
3 TORRESDALE RD, TOORAK
A French-inspired Toorak home constructed from hand-cut limestone sold under the hammer on Tuesday evening for an undisclosed sum within its $9.2m-$10.1m asking range.
Two local families competed for the keys to 3 Torresdale Rd, which was designed by architect Phillip Mannerheim and boasts French oak chevron floors, French gutter cornices and handmade European doors.
Marshall White Stonnington director Justin Long said there was “good competitive bidding” at the midweek auction, which attracted a crowd of about 60 onlookers.
It kicked off with a $9m vendor bid before offers rose in $50,000 increments to reach the winning bid.
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emily.holgate@news.com.au
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