ANZs decision to raise the interest rate on variable mortgage customers dampened the mood at some auctions. The moves by banks to independently lift their rates worried buyers, particularly investors. But owner-occupiers who were less interested in seeking instant capital gain continued to target good properties.
Six bidders competed at an executor’s auction, conducted by Bennison Mackinnon, of an art deco apartment in its original condition at 3/24-36 Clowes Street, South Yarra. Kim Easterbrook, of Elite Buyer Advocates, said the unit was on the market at $621,000 and sold for $690,000.