Real Estate auction blog: Livestreams and rolling updates from Melbourne’s auction market
Hawthorn premiership player Ryan Schoenmakers’ home gathered a crowd of 100 for its auction, with the winning bidder securing the property for $75,000 over its reserve price.
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It was a busy day of auctions across Melbourne especially for footy stars with Hawthorn premiership player Ryan Schoenmakers and his wife Alisha selling their abode for well over their asking price.
The three-bedroom home at 7a Gloucester Rd, Ashburton sold for $1.84m, $75,000 above its reserve price of $1.765m.
A crowd of 100 gathered around the Ashburton property, with four buyers actively bidding.
Purchasing the site in 2014, the couple developed two townhouses about a year ago and put one up for sale.
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Jellis Craig Boroondara agent Michael Wood said the high quality build attracted strong bidders who were all looking to live in the home.
“The owners were rewarded due to not compromising on the quality of construction,” Mr Wood said.
The Real Estate Institute of Victoria was expecting about 820 auctions across the state over the week.
According the latest PropTrack Home Price Index, national home prices continued to stabilise in April after rising for the fourth consecutive month, rising 0.14 per cent.
Prior to the auction, 60 groups came through for inspections, including those who wanted to scale down from bigger homes and young professional couples.
The initial price guide for the property was $1.6-$1.76m.
AUCTION REPLAYS AND RESULTS
2/75 ARGYLE ST, FITZROY
TV personality Red Symons’ ex-wife and Australian-Greek community leader Elly Symons’ home put her home on the auction block on Saturday, but the two-bedroom apartment unfortunately passed in.
The two-bedroom apartment is in the heart of Fitzroy at 2/75 Argyle St and had price hopes between $1.55m-$1.65m.
However, Jellis Craig Fitzroy partner Charles Atkins said negotiations were underway with a couple of potential buyers.
10/8 GRAHAM ST, PORT MELBOURNE
A two-bedroom apartment in Port Melbourne gathered strong buyer interest at its auction on Saturday morning, despite the cool and foggy conditions across the city.
10/8 Graham St sold for $1.07m to a retiree, well above its reserve price of $850,000.
Kay & Burton agent Campbell Kilsby said buyers were out in force and competed for the Port Melbourne residence as bidding started at $825,000.
“A mixture of single Baby Boomers and retirees were taking part in the bidding placing a total of 30 bids,” Mr Kilsby said.
2 MADELINE ST, GLEN WAVERLEY
A whopping eight bidders fought for a three-bedroom home in Glen Waverley, selling for $1.461m at auction.
The reserve price of 2 Madeline St was initially $1.32m but was reduced during the course of the auction to $1.3m, nevertheless selling for a bonus of $161,000.
Ray White Glen Waverley agent Darryl Wickham said the bidders were mostly young families, with the property’s main drawcard being in the Glen Waverley Secondary College zone.
“The reverse-living style is perfect given you have a beautiful vista over a park, it’s a really nice pocket there … everything is within walking distance,” Mr Wickham said.
“It was on a subdivided block, so under 300s qm to get nearly $5000 a square metre is crazy,” Mr Wickham said.
The vendors were an elderly couple who had bought the home from the builder 22 years ago who had now downsized to an apartment.
Mr Wickham said the new owners, who were a young family, had been looking for a while and were wanting to get into the school zone.
2/12 HART ST, AIRPORT WEST
Meanwhile, a two-bedroom townhouse in Airport West sold for $635,000, $45,000 over its reserve price.
Four out of the seven buyers in the crowd participated in the auction of 2/12 Hart St, eventually going to a 42-year-old first homebuyer from Essendon.
Ray White Pascoe Vale agent Stefan Stella said bidding started at $540,000 and then went up in $10,000 increments up to $590,000.
“Then [the bidding] was broken up into $5,000s, $1,000s, and $500 bids right up to $635,000,” Mr Stella said.
227 NICHOLSON ST, CARLTON
A unique residence in the heart of Carlton notched a $1.22m sale on Saturday morning, $20,000 over its reserve price.
Behind its Victorian terrace facade, the two-bedroom abode at 227 Nicholson St was formerly the Carlton Pottery School and had a price guide between $1.1m-$1.2m.
Four parties attended the auction, with two buyers going head to head who were both interested in turning the home’s secure garage into a studio.
Bidding began with a vendor bid of $1.1m, and went up rapidly from there.
Woodards Carlton partner Glenn Bartlett said the woman who out-bid another buyer and bought the home was downsizing from her home in Brunswick abode and wanted to be closer to the city.
“The vendor who sold the property is doing a development in Queensland and are moving up there,” Mr Bartlett said.
“[The property has] a lovely, former Victorian terrace shopfront so has a terrific heritage facade with a striking red door.”
FIRE HOME SELLS
A half-burned down home in Melbourne’s southeast sold for $625,000 earlier this week, $75,000 above its reserve price.
The property at 20 Bellario Circuit, Clyde North, originally with four bedrooms, was priced between $450,000-$480,000 when it was listed in April.
When it went to auction on May 7, the 448s qm property had a reserve price of $550,000.
It was put on the market by the family that owned the home, who didn’t have an insurance payout, after a fire caused by an oil pan in the walk-in pantry destroyed most of the second floor.
Only Estate Agents Narre Warren director Khalid Sarwari said bidding at its auction was “quite consistent” and had around 18 people show up.
“We pulled all our resources together to get the best price possible to help this very young family restart their life again after having a mortgage on a burnt down house,” Mr Sarwari said.
“[The house sold] to a person that is going to be owner-occupying it but is also a builder-renovator who’s planning to repair it and bring it back to its former glory.”
The property is just four years old and the owners were a family.
Prior to its sale, a TikTok video of the burnt home went viral, amassing more than 40,000 views as users speculated its value.
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