Another windy weekend for the Spring auction market in Melbourne. There were 904 auctions reported, with 717 selling and 187 being passed in, 82 of those on a vendor bid. In addition to the auctions, there were also 358 private sales reported.

The September quarter has shown that auction volumes were down significantly on the same period last year. The city recorded a clearance rate of 76.2 per cent from 9,932 auctions in the 3 months up to 25 September. This is compared to 75.7 per cent clearance from 12,413 auctions for the same period last year.

The inner-south has become Melbourne’s strongest performing region, with an 80.6 per cent clearance rate from 1409 auctions.

But the house price growth has driven more buyers to Melbourne’s outer suburbs, and areas such as Greensborough, Watsonia, Carrum Downs and Bayswater are expected to benefit next.

Victorian investors are helping to refuel the Melbourne auction market. Recent Australian Bureau of Statistis results reveal that lending to Victorian investors in August increased by 5 per cent on the same time last year.

Next weekend is expected to be another busy one for the auction market.


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76 Shepherd Road, Glen Waverley. Sold for $1,560,000.
With five bidders among a crowd of over one hundred people, it is little wonder that this property sold for more than $160,000 above the reserve. The last time this four bedroom home in Glen Waverley was on the market was 33 years ago. The owners have updated this boutique home in fine fashion, hoping to win the hearts of potential buyers. The opening bid of $1.1 million set the tone, and five would be buyers pushed the price up, until the hammer was brought down at $1.56 million.


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44 Vine Street, Moonee Ponds. Sold for $2,340,000.
Uniting brilliant contemporary design with premium fixtures, exemplary extras and a highly desirable locale, this stunning five-bedroom plus study Victorian-inspired family home was hotly contested at auction. With an opening bid of $1.7 million, the auctioneer had little trouble finding more offers. Five bidders eagerly threw their hands up, helping smash the reserve by $390,000. The property sold for $2.34 million.


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7 Austin Street, Hampton. Sold For $1,050,000.
This Bayside address appeals to investors, first-home buyers or empty nesters. With super spacious single-level living, this freestanding three bedroom, two bathroom home on approx. 357.50sqm block close to schools and the beach, drew 38 bids at the auction on Saturday. It was a young couple who became the new owners, paying $50,000 above the reserve of $1 million.

HAMPTON – is located approximately 14 kilometres south east of Melbourne CBD with Beach Road being a very popular cycling route which follows the beautiful coastline all the way down to Portsea.

Along with the amazing bike trail that follows the coastline there are plenty of great swimming areas that feature picnic areas with barbeques, garden areas quite the perfect spot to relax on a warm afternoon.

You will find numerous shops on along Hampton Street, with shops such as restaurants, bistros, clothing and antique stores with many more to treat everybody.  There is another shopping strip, Bluff Road, however, smaller in comparison.

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The Melbourne auction market had an impressive return to form after the Queens Birthday weekend break. A clearance rate of 72 per cent was achieved from 893 auctions this weekend, with 533 properties selling and 247 being passed in, 98 of those on a vendor bid. There were an additional 275 private sales reported.

This weekend, the competition at auctions was particularly strong, with buyers fiercely bidding for quality properties that are currently in short supply in sought after areas.

Popular with buyers are the “move right in” properties that have been renovated or extended; or even properties that provide potential for redevelopment. Many of the auctions for these properties had three or more bidders, which is always a good indication that there are not enough properties available to meet the demand.

With such high auction volumes for late June, the next couple of weeks in Melbourne will be extremely interesting to watch. Such an influx of high auction numbers would provide strong opportunities for buyers. Melbourne will see one of the biggest ends to the financial year on record, with close to 2,000 auctions scheduled in the next two weeks.

Next weekend there will be an expected 920 auctions held in Melbourne ahead of the Victorian school holidays and the upcoming Federal Election.


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658 Lygon Street, Carlton North. Sold for $880,000

This classic single-front Victorian on the edge of the city attracted many admirer’s before the auction. Multiple bidders were involved in the auction for this two large bedroom home with period-inspired bathroom complete with clawfoot bath, central lounge and updated kitchen/meals area. A vendor bid of $750,000 kicked off proceedings, and two parties immediately started trading $10,000 bids, then $5,000 bids until the price reached $800,000. A third bidder then joined in with $1,000 rises until they were eventually beaten by one of the first bidders, who acted on behalf of a contact via a phone.


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2 Forrest Street, Yarraville. Sold for$1,224,000

A double-fronted Victorian in the heart of Yarraville with an asking price of $900,000+ attracted some hot competition at the Saturday auction. A vendor bid of $900,000 stirred the serious buyers to put their hands up, and three bidders were in the mix by the time the price reached $940,000. An investor went head to head with another fierce bidder with $5,000 increments helping the price reach the reserve of $1.09 million. But it didn’t stop there. Two new contenders attempted to win the keys, but it was an investor who secured the contract with a final bid of $500 more than his opponents, and $134,000 above the reserve.


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5A James Crescent, Hampton. Sold for $1,271,000

Five bidders slogged it out to try and grab their own piece of the family friendly bayside suburb of Hampton. On offer was an enchanting three bedroom, 2 bathroom home fronting a quiet crescent with a high-gabled attic-style design …and located with a frontage on Thomas Street park with a sun-catching north-westerly aspect. With five bidders pushing the price of this weatherboard home up to $171,000 above the reserve, the property sold to a local buyer returning to the area after working overseas.

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