Real Estate auction blog: Livestreams and rolling updates from the auction market

The seller of an abode in Melbourne’s sandbelt scored a hole in one, offloading their home under the hammer for $105,000 above the top end of its price range. SEE MORE AUCTION RESULTS.

41 Golf View Rd, Heatherton sold under the hammer on Saturday.

It was a hole-in-one level of excitement for a homebuyer who snapped up a residence in Melbourne’s sandbelt at its Saturday auction.

A four-bedroom abode at 41 Golf View Rd, Heatherton just steps from Kingston Heath Golf Club sold for $1.055m — $105,000 above the top end of its price range.

The result was one of the more than 900 scheduled auctions across the state this weekend, including The Block’s regular Frank Valentic’s Elwood house.

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Advantage Property Consulting director and buyers advocate Mr Valentic is known for often appearing on The Block bidding on behalf of clients, as well as his feud with IT entrepreneur Danny Wallis, who spent more than $30m purchasing Block properties.

Now, he has decided to sell his four-bedroom house at 86 Addison St as he finds himself spending more time in the Mornington Peninsula.

The auction for the Edwardian-era home, which features a pool, plumbed-in barbecue and double garage, was scheduled for 1pm Saturday. However, the home appeared to have passed in.

The home is still on the market with a $3.25m price guide, according to its listing.

Craigieburn was tipped to have the most auctions this week in Victoria, followed by Bentleigh East and Mount Waverley.

Mr Valentic’s home was also the most-viewed property in Victoria, according to PropTrack.

PropTrack senior economist Anne Flaherty said the spring selling season was fast approaching with a high amount of homes hitting market.

“We are continuing to see that trend of investors selling off in Melbourne, just (because of) high property taxes, high land taxes,” Ms Flaherty said.

“I think that that’s one of the reason why we’re continuing to see those sales quite high.”

Frank Valentic’s Elwood home is going under the hammer today.

But she added that Melbourne was seeing the strongest growth in new loan commitments to first-home buyers.

“So it looks like a good proportion of this investor stock is actually being purchased by first home buyers,” she said.

Real Estate Institute of Victoria chief executive Kelly Ryan said spring was in the air with auction numbers picking up.

“Some suburbs have already exceeded their total annual auctions for the year than what they had last year, so there’s definitely plenty of movement, that’s for sure,” Ms Kelly said.

But she noted that they weren’t seeing many purchases from investors, a market that was “under enormous pressure”.

“We’re seeing potentially some of the results reflecting investors leaving the market, which is why we do have an uptick in options,” she said.

“Unfortunately, they’re the ones that aren’t re-entering the market at this stage.”

41 GOLF VIEW RD, HEATHERTON

41 Golf View Rd, Heatherton was sold under the hammer.

A Heatherton house nestled just steps from Kingston Heath Golf Club sold at its auction for $105,000 above the top end of its price range.

The four-bedroom residence was the vendor’s original family home, and attracted multiple bidders at its auction.

Bidding began at $850,000 and rose in $30,000, $20,000, $10,000 and $5000 increments.

It was a two-horse race by the end, with the home eventually selling for $1.055m.

Ray White Cheltenham auctioneer Angela Limanis said the house was a “prime piece of real estate” and the new buyer could “move in and enjoy the home“ as it was.

The digs had a $880,000-$950,000 price guide while it was listed.

8 KINGSHOTT CLOSE, WILLIAMSTOWN

8 Kingshott Close, Williamstown sold at its auction.

A single-level, four-bedroom residence in the city’s west sold under the hammer for $1.565m.

The abode attracted about 50 groups of prospective buyers while it was listed, especially families and downsizers, which led to three bidding at its auction.

The Agency auctioneer Leigh Melbourne said three young families competed for the home, with one buyer from Manor Lakes eventually purchasing the house.

“It was good to have multiple bidders on the property which is in a quiet cul-de-sac location, one street from the waterfront,” Mr Melbourne said.

Offers began at $1.4m and was called on the market at $1.54m.

The home was initially priced at $1.45m-$1.55m.

2 LAUREL GROVE NORTH, BLACKBURN

2 Laurel Grove Nth, Blackburn sold at its auction.

A four-bedroom house in Melbourne’s east sold under the hammer on Saturday for $75,000 above the top end of its price range.

Woodards Blackburn auctioneer Cameron Way started the auction which was shortly followed by a bid from the crowd of $1.25m.

Multiple bidders joined the competition for the abode, with offers rising near the end in $5000 increments.

The home eventually sold to a family for $1.525m.

The residence is located in the Box Hill High School zone and its steps from Laburnum Station.

14 SINCLAIR ST, OAKLEIGH SOUTH

14 Sinclair St, Oakleigh South was passed in.

This property went under the hammer this morning, with the option to build two townhouses on its block.

Ray White Oakleigh auctioneer Robert Cincotta said the existing and original four-bedroom house was “completely liveable and function” as it was a very solid home.

But he said the property presented a “sensational opportunity” for buyers to either take advantage of the home and add their own personal touch, or build two large townhouses.

The residence had a $980,000-$1.078m price tag.

Bidding began at $900,000 and was later followed by a $950,000 vendor bid.

This was soon matched by the first group who offered $1m.

Another vendor bid was placed at $1.05m and then there was a short pause in the auction.

A final $1.12m vendor bid was placed and the property was eventually passed in.

AUCTION REPLAYS AND RESULTS

36 BORDEAUX ST, AVONDALE HEIGHTS

36 Bordeaux St, Avondale Heights was passed in under the hammer.

A three-bedroom house in Melbourne’s northwest went under the hammer this morning as prospective buyers huddled in the home to keep out of the rain.

Barry Plant Keilor East auctioneer Paul Filippone said the brick abode was “good real estate” and in an area he grew up in.

He said the suburb was surrounded by families who’d lived there for years, as well as plenty of services and amenities.

The residence had initial $800,000-$880,000 price hopes.

Bidding began with a vendor bid at $780,000 and was soon passed in.

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Originally published as Real Estate auction blog: Livestreams and rolling updates from the auction market