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Clearance rate of 62% was achieved from 598 auctions.

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This weekend a clearance rate of 62% was achieved from 598 auctions. Of those properties, 312 sold and 226 were passed in, 107 of those on a vendor bid. There were also 176 private sales over the past week.
Buying activity across the city is becoming more consistent, especially for first home buyers and even family home buyers. The latter enjoying an influx of new family home listings hitting the market.Regards,The Team at Elite.
30 Lee Street, Carlton North Sold for $910,000

This deceased estate in an exclusive Carlton North neighbourhood with immediate access to the best of inner-Melbourne was quoted at $850,000 – $920,000. It only took one knockout bid from a young couple to win the keys of this classic Victorian terrace. No other hands went up during the auction, and the young couple who secured the property at a killer price will soon have a lot of work to do to bring the property to a standard.

12 Victoria Street, St Kilda Sold for $1,926,000

Unliveable and will be requiring a total renovation (STCA), this four bedrooms Victorian house sold for $326,000 past the reserve. Held in the one family for generations, this property is a blank canvas for the new buyers who will enjoy the location close to the beach and Acland St. The facade is to be kept as part of the heritage overlay, and this property sale has set a new price record for St Kilda at a value of $6075 per square metre.

29 Tennyson Street, Sandringham Sold for $3,050,000

A pretty weatherboard home in one of the best streets in Sandringham saw 60-70 onlookers front up to see the contest headed by Auctioneer Peter Hickey. Surprisingly there was not one bid and the property was passed in on a vendor bid of $2.9m. However, 3 groups put their hands up to negotiate afterwards and so ensued a boardroom auction of types with all 3 going into the home (in various rooms) until they had an outcome. It was a savvy investor who eventually walked away with the keys to the beautiful home for $3.05m.

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