A cold blast doesn’t deter Melbourne property buyers

April 17th, 2018

A relatively small number of auctions were held this weekend, and the cold conditions may have affected attendance at auctions.

This weekend a clearance rate of 67% was achieved from 663 auctions. Of those properties, 376 sold and 217 were passed in, 103 of those on a vendor bid. There were also 311 private sales over the past week.

Fewer bidders at auctions across Melbourne is becoming a trend, except in the lower priced properties where the first home buyers are heavily contested.

Despite the reports of a softening market, between January and March, there were a total of 8551 auctions held in Melbourne, up from 7903 last year.

Kind Regards,

The Team at Elite.

 

33 Marquis Road, Bentleigh. Sold for $970,000

About 60 onlookers gathered in the rain to see the 3 bedroom, freestanding unit go under the hammer on Melbourne’s first true Autumn Saturday. Bidding opened at $830,000, and the first bidder dropped out at $930,000 just before it was announced on the market at $935,000. A third bidder joined in, but it was the second bidder who firmly stood his ground and won the keys at a healthy $970,000 – $50,000 over the reserve

11 Haslemere Road, Mitcham. Sold for $1,210,000 

Situated in one of Mitcham’s finest leafy streets this truly unique property on a flat corner allotment of approx. 1068 square metres,  features three separate dwellings. Bids were flying for 45 minutes from three bidders hoping to become the new owners of this clinker brick home. The hammer was finally brought down for $10,000 above the reserve to a local family.

 

59 Donald Street, Prahran. Sold for $1,765,000 

This comprehensively renovated single-fronted Victorian house sold for $175,000 above the reserve with strong bidding from four bidders. In 2009 the property sold for $730,000. It was a generous couple who won the keys for their son who will live there after finishing his studies.