72-80 Eisemans Rd, Yarrambat, sold for $200,000 more than expected the same day as the AFL Grand Final.
Canny home sellers were kicking auction goals just hours ahead of the AFL Grand Final on Saturday.
While most sellers avoid clashing with the sporting event, Ray White Eltham director Shane Leete said it was a “strategic decision” to put 72-80 Eisemans Rd, Yarrambat, under the hammer last Saturday.
“The idea was it would attract as many people as possible as it’s a long weekend, but not one where people go away,” Mr Leete said.
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The gambit worked, with a crowd of about 120 watching the home sell for $1.963m — more than $200,000 above the top of the home’s $1.6m-$1.76m price guide.
The sale followed 70 bids from four bidders, with a $1.4m low bid start. Mr Leete said four more parties didn’t get a chance to bid.
The keys went to a young family, and the vendors were happy with the sale of a home that they had grown up in and that had been in their family for 35 years.
72-80 Eisemans Rd, Yarrambat, had multiple bidders on Grand Final Day.
Barry Plant Doncaster East director Mark Di Giulio also made a deliberate call to auction 17 Rocklea Rd, Bulleen, on Saturday.
“There were too many competitors on the weekend before and the weekend after,” Mr Di Giulio said. “And we had a huge crowd, easily 80 people.”
Three bidders pursued the home from a $1.2m opening offer, past the $1.28m reserve to a $1.34m sale — which he said was a solid result in a market that had gone from “nuts to normal” and was balancing out at the moment.
17 Rocklea Rd, Bulleen, also sold under the hammer on Grand Final Day.
In Braybrook, Douglas Kay Sunshine’s Adrian Kay had 76 Darnley St “booked in by mistake” for Grand Final Day.
But when he raised it with the vendors they saw the merit in an auction with no other homes competing and decided to go for it.
Two bidders kicked the sale off with a $730,000 opening bid, pushed the price to $764,000 when it was called on the market and then up to a $771,000 sale. The buyer plans to rent it out.
Mr Kay said the vendor’s timing could prove particularly wise, with the end of fuel excise relief leading to a 20c hike in petrol costs this week likely to hit the area’s typical lower-middle income workers.
76 Darnley St, Braybrook, went under the hammer after being listed for auction on Grand Final day by mistake – and it proved fortuitous timing.
Sold By Group auctioneer Andy Reid said while the end of the Grand Final week normally meant an uptick in listings for spring, he wasn’t seeing it yet and felt the rush might be delayed to summer or even next year.
Mr Reid said the delay was being caused by the psychological impact of consecutive rate rises since May, which had left many vendors to delay sales. As a result most of the homes in the market today were there due to “death, debt or divorce”.
“And that’s a bit of a silver lining for the people who are going ahead with a sale,” he said. “The low numbers are keeping the market propped up.”
Among the homes to benefit from lower competition last weekend was a family-sized, three-bedroom unit at 8/38 Barnsbury Rd, Deepdene.
8/38 Barnsbury Rd, Deepdene, sold almost $80,000 above its reserve.
Mr Reid said the bidding started at $1.2m, easily hit the $1.45m reserve at the top of the home’s advertised range and sold for $1.528m. A middle-aged couple with a buyer’s advocate bidding for them won the keys.
Century 21 Reach’s Gilbert Ng had the listing.
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Originally published at Sydney News HQ
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