The clearance rate dropped since last weekend which is presenting good opportunities for buyers.  That being said, quality properties ticking all the investment boxes are still selling well under competition.
This weekend a clearance rate of 65% was achieved from 891 auctions. Of those properties, 478 sold and 316 were passed in, 149 of those on a vendor bid. There were also 285 private sales over the past week.
This weekend, budget properties saw increased demand as seen by the solid clearance rate for units of 67 per cent, compared to 60 per cent for houses.
It will be interesting to see what the Federal Budget announcement brings tomorrow and whether any infrastructure boosts could have any impact on properties prices in particular areas.

Kind Regards,
The Team at Elite.


7 Willow Street, Elsternwick. Sold for $2,485,000. 
Recreated in 2016 on The Block, this stylish Edwardian attracted about 70 onlookers to the auction. With four bedrooms and three bathrooms, and a very high-profile renovation that attracted swarms of people through inspections, it was surprising that the auctioneer on Saturday could not tempt any hands to rise. It was only when the property passed in on a vendor bid of $2.3 million, that the buyer emerged and eventually negotiated the sale price of $2,485,000.

2 Goodwin Street, Preston. Sold for $965,000. 
Designed with arched windows to complement the adjacent former church, this light-filled freestanding three-bedroom residence sold in minutes. It took six bidders and 25 bids, to help push the price $115,000 past the reserve. Quoted at $800,000 – $850,000, the property sold to a brother and sister pair who purchased on behalf of their parents.

9A Pasadena Avenue, Beaumaris. Passed In. 
Set over three levels, this extraordinary four bedroom residence, also the former bachelorette Georgia Love’s family home, went under the hammer on Saturday. A crowd of about 30 people gathered to watch the auction, but bids were difficult to attain.  Two genuine bids topped two vendor bids of $1.8 million and $1.9 million before the house was passed into one bidder for $1.925 million. Negotiations continued after the auction.

As the Spring auction season reaches its final weekend, a clearance rate of 78 per cent was achieved from 1238 auctions reported. There were 964 selling and 274 being passed in, 129 of those on a vendor bid. In addition to the auctions, there were also 301 private sales reported.

With plenty of stock on offer this weekend, Melbourne vendors faced tough competition while buyers were spoiled for choice. This was the second-highest number of homes being auctioned across the city, behind the 1598 auctions held on the pre-Easter super Saturday on 19th March.

The median auction price recorded in Melbourne this weekend was $856,000, just below the $860,000 reported the previous weekend, but 13.4 per cent higher than the $755,000 recorded over the same weekend last year.

Melbourne’s auction market looks set to be busy over the next 4 weeks in the lead up to Christmas, with an expected 3,000 homes to be auctioned.


1.103305

151 Power Street, Hawthorn.  Sold for $1,976,000.

This lovely freestanding four bedroom Victorian terrace positioned on approximately 407m2 attracted three bidders among the crowd on Saturday. Fast bidding with $1,000 increments took this two storey property higher than the 1.91 million reserve. The hammer was brought down at $1.976 million to a semi-retired couple who plan to move in to the property set in lush gardens.


26 George Street, St Albans

26 George Street, St Albans.  Sold for $630,000.

The price guide of $600k plus helped attract quite a crowd to the auction for this unrenovated four-bedroom home which was built by the vendors approximately 50 years ago. Five bidders threw their hands up to become the new owners of the property situated on approximately 785 square metres of land. But it was an investor who won the keys for $630,000.


main.144414

23 Beach Road, Beaumaris.  Sold for $1,740,000.

With a price guide of $1.6 million – $1.7 million, this was an affordable four bedroom home with views of the bay. In front of a crowd of 50 people, the auctioneer found three bidders vying for the opportunity to live within a stone throw of the water. The home which has been with the one family for 30 years, sold to a family who plan to rent it out for a couple of years before moving in when their children leave school.

banner1

BEAUMARIS – is a prosperous suburb located approximately 20 kilometres south-east of Melbourne CBD boasting approximately 4.5 kilometres of beach front, including the picturesque Watkins Bay making this the ideal suburb.

The main shopping precinct is the Concourse Shopping Centre just off Reserve Road, although there are many boutiques and cafes, you just to explore and you will discover them. In Beaumaris you will find beautifully maintained parks with lots of recreational activities to keep you busy or simply relax in and enjoy the ambiance.

Beaumaris is well known for its prominent landmarks such as the Beaumaris Cliffs, Ricketts Point Marine Sanctuary (make sure to visit the café which overlooks the bay), and Table Rock Point being the reason people love to live in this suburb pushing property prices straight up! Beaumaris really is the perfect place to live or invest!

Melbourne-Daily-Photo-Blog-Bay-Beaumaris-birds-Point-Reef-Rickett-Rock-Sunset-Watkins-Beaumaris_20120724_001_2_3-2

Melbourne-Daily-Photo-Blog-Bay-Beaumaris-birds-Point-Reef-Rickett-Rock-Sunset-Watkins-Beaumaris_20120724_064_5_6-2
b4d7ffc9750c6ca132c7ec19fa4f372cbanksiareserve1

P1160792

19688

 

Logo
menu

Share This

Select your desired option below to share a direct link to this page.
Your friends or family will thank you later.