Real Estate auction blog: Livestreams and rolling updates from Melbourne’s auction market
Reserves have been smashed by more than $1m, a beachfront record broken and a Melbourne Football Club great left on the market in a busy auction day. Watch replays here.
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A Brunswick East auction has soared more than $1m past its reserve in a shock result that has the vendors thrilled.
Meanwhile Bonbeach’s waterfront has a new record price after a boat shed on the foreshore sold for an unprecedented sum under the hammer — despite only one party bidding.
But ex-Demon Peter “Crackers” Keenan was left on the market when his Aberfeldie home of the past 40 years passed in, though his agent is seeking to rush a sale behind closed doors with negotiations already under way.
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PropTrack are expecting more than 1442 properties to go under the hammer this week, the third highest number so far in 2023.
Incredibly that number could be topped in the following seven days when 1462 are slated to go under the hammer as the state heads to its final auction weekend of the year.
Live streams courtesy of Gavl are up and running, with sales results on the way.
Barry Plant senior franchise manager Mark Lynch said the final fortnight of sales for 2023 were shaping up to be so busy agencies were postponing their Christmas parties to cope with the last minute rush.
“I reckon it’s a little bit unusual,” Mr Lynch said.
“But I can’t see the clearance rate holding up.”
He said while the share of homes selling under the hammer might fall as the buyer pool was thinned out, but even if auctions only had one bidder there were still good prospects, with even most that passed in to be sold within half an hour.
TOP AUCTION WEEKS FOR 2023
Oct 23-29: 1700 auctions
Dec 11-17: 1462 auctions
Nov 13-19: 1443 auctions
Dec 4-10: 1442 auctions
Nov 27-Dec 3: 1363 auctions
Nov 20-26: 1347 auctions
March 27-April 2: 1223 auctions
Oct 2-8: 1197 auctions
Nov 6-12: 1173 auctions
March 20-26: 1153 auctions
Source: PropTrack scheduled auctions
AUCTION REPLAYS AND RESULTS
Mr Lynch said the final sales for the year were likely to be driven by those who have sold a home and still need to buy their next one, as well as tenants looking to escape the rental market.
EX-DEMON HOPING FOR A RUSHED BEHIND
Former Melbourne Football Club player Peter “Crackers” Keenan is still hoping for a disposal after his Aberfeldie home of the past 40 years passed in under the hammer at 11am.
Keenan played about 140 games for the Demons, and for a while at North Melbourne and Essendon, across 12 years.
Woodards’ Bruce Warburton put the 46 Vida St home under the hammer with a $1.975m-$2.15m asking price.
Despite a crowd in the 50s, and interest in the lead up to auction, the home passed in on a $2m vendor bid.
Mr Warburton said the property had received a positive response from families attracted to its location near the Maribyrnong River and a range of private schools and he would now look to negotiate a sale in the next 48 hours.
2 COLEMAN COURT, TAYLORS LAKES
Melbourne’s north west fired up with the auction of 2 Coleman Court, Taylors Lakes, today.
The four-bedroom house being sold by Barry Plant’s Las Anastasiadis went under the hammer with a $980,000-$1.05m asking price.
But the buyers had other ideas.
It took just six bids to go from an initial $900,000 offer to $1m.
Another nine bids had it to $1.1m, and a further $10,000 rise resulted in the home being called on the market.
It sold $15,000 later for $1.125m.
25 NORTH AVE, BENTLEIGH
Woodards auctioneer Ben Quigley had a veritable tennis match on his hands as a pair of buyers fought it out for 25 North Ave, Bentleigh, today.
The four-bedroom house had a handful of bidders chasing it after a $1.7m opening offer that topped the $1.6m-$1.69m asking price.
But following a $50,000 jump it turned into a rapid-fire tennis match with bids being lobbed back and forth as fast as he could confirm them in $10,000 increments.
The home was called on the market seconds later at $1.9m, and a few seconds more were enough for the bidding to move in $5000 rises to a $2m sale.
BOAT SHED 1485, BONBEACH
Summer’s first beach box auction has set a new record for a boat shed in Bonbeach despite a rainy day.
Ray White Chelsea’s Shane O’Sughrue put the iconic waterfront property near the bottom of Harding St under the hammer at 10.30am with two potential bidders interested even with a $295,000-$300,000 price guide that had to be paid without a loan.
One made a $250,000 opening offer, but Mr O’Sughrue refused it and countered with a $300,000 vendor bid.
A moment later he informed the initial bid maker that a $310,000 offer would get it on the market, and after initially rejecting a $305,000 offer the auctioneer got what he was after.
The home was on the market at $310,000 and with no further bidding sold for that price.
Mr O’Sughrue said Boat Shed 1485 was the closest to beach access, and “a little bit special” thanks to the Australian flag emblazoned across the property that hasn’t changed hands in about 30 years.
He added that the sale was a new record for the sands of Bonbeach, though nearby beach boxes in Chelsea and Edithvale had sold for more in the past.
“It’s been a while since we’ve had one on the market in Bonbeach, they tend to go off market as only Kingston Council ratepayers can own them,” he said.
8 HAMER ST, BRUNSWICK EAST
It’s not every day you see a home sold $1m above the price guide in Melbourne’s north.
But the impressive near-new build at 8 Hamer St, Brunswick East, had the eye of a long list of buyers.
Speaking before the auction Ray White’s Jamil Allouche said the 2019-built home had been built to an impeccable standard that left it virtually incomparable to any other home on the market at present.
Mr Allouche said a good chunk of the about 120 families who inspected it were looking for ideas to do a renovation at their existing home, only to determine they couldn’t come close to the Hamer St residence.
The four-bedroom house went under the hammer with a $2.75m-$2.95m asking price, and had a reserve at $2.95m, but spirited bidding from two buyers took it well past that range.
The home was called on the market almost as an afterthought at $3.9m, and two bids later sold for $3.95m.
Mr Allouche said the vendors were thrilled with the result.
6/5-7 ALFRED ST, BEAUMARIS
A rainy day outside had the auction for a two-bedroom Beaumaris unit called inside.
And a technical issue with the auction’s camera set up that had the agents seemingly dancing on the ceiling had online viewers craning their necks.
Barry Plant’s Kyle Sirianni couldn’t illicit any live offers for 6/5-7 Alfred St, despite a pair of vendor bids.
The first came at $650,000, below the homes $660,000-$725,000 price guide.
The second, at $670,000, was enough to end the auction. Negotiation is likely to take place.
11 RANDALL AVE, EDITHVALE
For a three-bedroom house in a popular bayside pocket a $990,000-$1.08m price guide might have seemed like good buying.
But the Hodges auctioneer didn’t have the 11 Randall Ave home on the market when questioned by the crowd at $1.11m. That’s also about when the rain started.
That was seized on as an opportune moment to take a break and speak with the vendor, and upon their return the home was declared on the market at the price it hadn’t been a few moments before.
Three more bids brought the figure up to a $1.121 sale, about $50,000 more than expected.
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