Melbourne auctions: More than 2800 homes headed under the hammer across November fortnight
Victorian auctions are surging ahead of all other states with thousands of properties heading to hammer time over the next fortnight, as buyers hustle to secure a pad before Christmas.
Victoria is shaping up as Australia’s busiest auction state before Christmas, with more than 2800 homes set to go under the hammer across a fortnight.
Many buyers are hoping to secure a property before the end of the year, with PropTrack expecting 1266 auctions in the state this week.
A further 1659 auctions are slated for the next week.
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New South Wales is set to be the second-busiest state with 2644 auctions in the two-week period.
PropTrack economist Anne Flaherty said selling activity was expected to slow in December.
“As a result, while the next two weeks will present buyers with plenty of choice, opportunities to purchase are likely to drop off significantly until the market picks up again towards the end of January,” Ms Flaherty said.
One of the weekend’s big ticket auctions is the Hawthorn house of former music retailer Con Gallin who previously owned one of Australia’s largest private guitar collections worth, about $1.5m.
Gallin sold the instruments, many signed by stars like Sir Paul McCartney and Eric Clapton.
Kay & Burton Boroondara’s Sam Wilkinson is managing the sale of the four-bedroom abode, which has a $5.5m-$5.8m asking range.
Also going under the hammer is a two-bedroom apartment at 4/175 Fitzroy St, Fitzroy, with a $1m-$1.1m price tag.
It’s located within a heritage-listed, circa-1900 former warehouse.
Jellis Craig Boroondara’s David Ferro said the building’s historic facade, Melbourne CBD views and proximity to Gertrude and Brunswick streets were among the highlights.
“We’ve had a mix of people, buyers looking for a Melbourne base and first-home buyers wanting an inner city pad still in a vibrant and trendy area, but not in the city itself,” Mr Ferro said.
Earlier in the week, Ray White’s Taylors Lakes office held an in-room auction event where they sold 11 residences, valued at more than $7m in total.
The agency’s principal Peter Travlos said a combined 20 bidders took part in the auctions, with the top result being a three-bedroom house at 61B Garnet St, Niddrie, that fetched $996,500.
Mr Travlos said several of the properties exceeded vendors’ expectations on the night.
“This demonstrates that demand is still strong and buyers are actively engaging, especially for well-presented homes,” he said.
According to PropTrack, Victoria achieved a 55 per cent clearance rate last week.
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Originally published as Melbourne auctions: More than 2800 homes headed under the hammer across November fortnight
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