August 27, 2016
It felt like the market shifted up another gear on Saturday.
Some strong results were seen across Melbourne, the REIV reporting a 79% clearance rate from the 823 properties sold (down 200 from the same time last year). With more quality properties auctioning next weekend, we expect to see similar results continuing.
- 5 Northbrook Avenue, Malvern (Tim Derham/Kate Cusack, Abercromby’s) – a comfortable two storey home on 620 sqm, two bidders pushed the price to $4.94million
- 17 Bayside Crescent, Hampton (Robin Parker/Kate Fowler, Marshall White) – approximately 610sqm with comfortable (but small) home, many viewing as land, north rear – $1.88million or $3,081sqm
- 18 Campbell Road, Deepdene (Scott Patterson/Walter Dodich, Kay & Burton) – approximately 1300sqm, renovated single storey period home, on the market at $4.9million with 6 bidders, sold for $6.205million
- 9 Bristol Street, Surrey Hills (Duane Wolowiec/Stuart Evans, Marshall White) last sold in 2014 for $2.13million. With the addition of a new pool and some minor changes – sold circa $2.8million
- 72 Stanley Street, Black Rock (Romana Altman/Adam Saunders, Buxton) – approximately 650sqm, south rear – $1.48million or $2,276sqm
- 38 Orlando Street, Hampton (Paul Bond/Amanda Jones, Hodges) – good land with no heritage overlay in ‘high density zone’ – $2.4395m or $3,696sqm
- 21 Bruce Street, Bentleigh (Simon Pintado/Andrew Chisholm, Buxton) corner block on approx. 572sqm in the ‘zone’ – $1.535million or $2,683sqm
- 40 Grovedale Road, Surrey Hills (James Bateman & James Scoones, Jellis Craig) 627sqm – $1.751m or $2,792/sqm
Here are some of the off-markets we have been privy to, this week:
- Modern family home, South Yarra – $5million
- Large period home on good land, requires renovation, South Yarra – $6m plus
- Comfortable family home on good land, close to primary, Beaumaris circa mid $1millions
- Hawthorn renovated double-fronted home, close to Glenferrie Road – $2.4miliion
- Modern townhouse, Malvern East – $2million
- Family home with tennis court – Malvern – $4million
Properties we like for auction September 10:
- 11 Adelaide Street, Armadale – Andrew James/Lauchlan Waterfield, Hocking Stuart
- 16 Davies Street, Malvern East – Carla Fetter/Andrew McCann, Jellis Craig
- 14 Golding Street, Canterbury – James Tostevin/Charlie Tostevin, Marshall White
- 9 Grout Street, Hampton – Stephen Wigley/Amanda Jones, Hodges
38 Orlando Street, Hampton (Paul Bond, Hodges), sold for $2,439,500, 2 bidders
Quite a big crowd lined both sides of the street for the auction of this property on prized Orlando Street. Paul Bond was our auctioneer and after a succinct preamble, was rewarded with an opening bid of $1.9m from Bidder 1. Bidder 2 was quick to enter the fray and a two-way battle ensued – the property was announced on the market at $2.135m. Bidding continued rapidly, with increments changing dramatically with each bid – $2000, $1000, $500 – Paul did a wonderful job keeping tally! At one point, the crowd let out a collective sigh when a bid was tabled at the eleventh hour after it seemed the home had sold. Bidding continued and not long everyone cheered and clapped when the hammer finally came down at $2,439,500.
37 Lambeth Ave, Armadale (Justin Long, Marshall White), sold for $2.865m after auction
I along with around 100 others turn up for this mid-afternoon auction in Armadale, and there was a hint of Spring in the air. Auctioneer Justin Long asks for an opening bid and then promptly kicks things off with a vendor bid of $2.5m. Not long after three bidders entered the fray with measured bidding. At $2.795m the property passed in and then sold afterwards for $2.865m. With a lesser quality version on bigger land in the street selling for $2.76m about 8 weeks ago, the market for offerings such as this looks to be holding up well.
17 Bayside Crescent, Hampton (Robin Parker, Marshall White), sold for $1.88m, 3 bidders
Robin Parker took centre stage in front of number 17 Bayside Crescent and, after addressing the crowd, he called for an opening bid. $1.45m came from Bidder 1, whilst Bidder 2 came in shortly after with a $10,000 rise. Bidding was fast and strong, and Robin headed inside at $1.6m to refer to his vendor. Bidder 3 joined the action upon his return, and at $1.73m the home was on the market. Bidding between two of the bidders continued until the sale price of $1.88m was reached, much to the delight of the big crowd who cheered and applauded the new owner.