While there are fewer auctions this week with the state’s attention on the AFL Grand Final, industry professionals are expecting auction numbers to pick back up in the coming weeks.
Jellis Craig Port Phillip director Warwick Gardiner said October will likely be the busiest month of the year, with more homes coming onto the market expected to relieve buyers from competitive conditions.
“(Stock) will start trickling through this weekend and from next week a lot more stock will be coming to the market,” he said.
RELATED: Ferntree Gully: Offshore bidding scores jiu-jitsu fighter new pad
Late Labor MP Jane Garrett’s Carlton North home sells for $4m+ under hammer
Home with Olympic pool remnants makes owners nearly half a million dollars in 10 years
This will include Mr Gardiner’s upcoming listing for a rare double-fronted home at 67 St Vincent Place in Albert Park, which will be listed in October with a price guide above $4m.
He also sold a three-bedroom house in Port Melbourne under the hammer on Saturday in fierce auction conditions.
The 3 Coogee Place pad notched an impressive $2.79m sale after three competitive bidders pushed the property $390,000 above its $2.4m reserve.
A $2.3m vendor bid kicked things off, before two buyers competed with rapid $20,000 bids.
At the $2.55m mark the second buyer bowed out, seeming like the auction was over — until a surprise third bidder jumped in and drove offers to reach the $2.79m sale.
A young family originally from Port Melbourne who had moved to Bendigo at the start of the pandemic won the keys.
“They were desperate to get back into the area,” Mr Gardiner said.
More competitive bidding was seen in Keilor Park with the $1.451m sale of 62 Eliza St.
Offers for the four-bedroom home started at $1.3m, before four buyers fought hard for the keys, mostly comprising young families.
The 581sq m property was called on the market at $1.435m before reaching its final $1.451m sale.
Despite what other agents are predicting, Barry Plant Keilor East auctioneer Caleb Venneri, who led the Eliza St sale, said he didn’t expect an upcoming rise in stock.
“Genuine spring sellers might be coming back, but I don’t think there’ll be a huge amount (of stock) hitting the market,” he said.
Over in the southeast, a six-bedroom mansion in Wheelers Hill soared $190,000 above expectations, selling under the hammer for $2.61m.
Three bidders stepped up to score the 50-52 Craig Hill Drive property, before a family with two children placed the winning offer.
“(They) bought it purely for the lifestyle, condition and presentation,” Ray White Ferntree Gully agent Cristine Jones said.
It comes as PropTrack recorded an early 59 per cent clearance rate from 878 reported results last week, with only 139 auctions expected this week.
Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.
MORE: Los Angeles Lakers’ guard Russell Westbrook lists massive mansion for $44.7m
Brunswick: Rare opportunity arises to buy ‘iconic’ 1854-built house with massive garden
Mt Martha home gets pandemic-led makeover to become a phenomenal entertainer’s dream
emily.holgate@news.com.au
No comments:
Post a Comment