Real Estate auction blog: Replay property auctions and see all the results
A mother who gave birth just two days before has watched via mobile phone in hospital, as her house in Melbourne’s north went under the hammer and sold to a pair of newlyweds on Saturday.
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A pair of new parents have multiple reasons to smile after a Craigieburn house owned by the mother sold at a competitive auction on Saturday.
It was a recently-married couple who purchased the house too.
Stream auction replays and catch up on the latest results at Gavl.com.
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Increasing numbers of buyers are expected to supercharge the state’s property market after the Reserve Bank decided against raising interest rates earlier this week.
On Tuesday, the RBA kept the cash rate on hold at 4.35 per cent which PropTrack economist Anne Flaherty hailed as “good news for sellers and buyers alike”.
PropTrack is expecting 700 auctions in Victoria this week including 655 in Greater Melbourne.
“The expectation of a more stable interest rate environment should help to support confidence in 2024 which may drive an increase in market activity,” Ms Flaherty said.
The state recorded a 64 per cent clearance rate from 681 auctions last week, PropTrack figures show.
67 NATURAL DRIVE, CRAIGIEBURN
A whopping 15 bidders registered for the auction of a Craigieburn house.
Seven of the would-be buyers ended up actively participating in bidding for the three-bedroom home at 67 Natural Drive.
Ray White Craigieburn’s Steph Shepherdson said several first-home buyers were among them with a young couple who recently married securing the home, paying for $601,500 for the house which had a $570,000 reserve.
“They were previously living with parents in the suburbs, while saving up for their deposit,” Ms Shepherdson said.
“The woman who sold the property today was ecstatically cheering from the hospital, as she tuned in via her husband’s phone after only delivering their second child two days ago.”
Ms Shepherdson said the mother initially purchased the land and built the home while she was still single and the couple had then lived there together.
With two children, they are now planning to move to a bigger property.
“We’re finding a lot of interest from buyers since the rates were put on hold again, invigorating a lot of our first home buyers in and out of the area,” Ms Shepherdson said.
“There are a lot more owners sitting on the fence deciding whether or not to sell now.
“Now is the time to upgrade, before house prices start to rise again.
“As long as you buy and sell in the same market, that’s the ticket to upsizing.”
75 DIMBOOLA RD, BROADMEADOWS
A three-bedroom house at 75 Dimboola Rd, Broadmeadows, has sold for the first time in more than five decades.
Ray White Mill Park’s Daniel Nardella said a group of siblings were selling the property on behalf of their mother, after it served as the family home for 52 years.
Four bidders contested the auction including two investors and two first-home buyers.
Mr Nardella said the house eventually sold to a couple of investors “who live well out of the area, and bought the property based on location and affordability”.
The purchasers paid $516,000 for the residence which had a $480,000 reserve.
“They plan to give the house a minor spruce up and makeover and rent it out quite quickly,” Mr Nardella said.
“We’re still in the early days of 2024, however our first few auctions have performed really well.
“We’re seeing open inspection numbers through the roof, with 56 groups through one of our open homes.
“The reason we’re finding these inspection numbers are quite high is due to the buyer confidence out in market, with interest rates staying consistent.”
AUCTION REPLAYS AND RESULTS
1/111 STATION ST, BURWOOD
A renovated two-bedroom Burwood unit sold for a sum higher than its $720,000-$770,000 listing range.
The home at 1/111 Station St features French doors which open to the undercover front veranda, a walk-in pantry in the kitchen and stone-fitted laundry.
Bidding kicked off with a $720,0000 offer and rose rapidly with the unit placed on the market at $790,000, as multiple buyers competed for the keys.
Jellis Craig partner and auctioneer Andrew Luke told the large crowd gathered that there was already talk of interest rates possibly “coming down” in the future – which usually resulted in rising home prices.
“Smart buyers are here today to buy, you don’t want to wait three to six months because you will be paying more residences in that time,” Mr Luke said.
The “absolutely charming” unit sold for $872,500, a figure not far below Melbourne’s median $911,000 house price, according to PropTrack.
3 YOUNG ST, OAKLEIGH
An Oakleigh house passed in at an auction.
The three-bedroom home at 3 Young Street was advertised with a $1.46m-$1.58m price guide.
It has bi-fold doors opening to an undercover entertainer’s deck and a pool, and has been renovated.
Bidding reached $1.565m before the house was passed in with the highest bidder getting first rights to negotiate a potential sale.
Barry Plant’s Kylie Sirianni and Dean Sirianni have the listing.
5 PRINCELY TCE, TEMPLESTOWE
A five-bedroom Templestowe mansion featuring a 19th-century French wrought iron front gate and two fountains sold after going under the hammer midweek.
OBrien Real Estate’s John Rombotis said declined to comment on the figure the property fetched but industry sources put it within the $6m-$6.5m asking range.
The stately home at 5 Princely Tce was built by VM LUX AVENUE interior designer and stylist Anna Kaye and her partner, inspired by their love of European architecture and travel.
Ms Kaye said she and her partner had been collecting art for 15 years and viewed their house as a creative work in itself.
Mr Rombotis said two families bid for the home which was viewed by more than 80,000 people online while it was on the market.
He also listed 32 new properties on Boxing Day and said buyer inquiries “have been off charts”.
“I’ve never been as busy in many years,” he added.
CoreLogic records show only three other Templestowe houses have sold for above $6m with the suburb’s $6.9m record set by 327-328 Church Rd in 2008.
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