Baby Boomer couple beat five others for $1.5m Northcote two-bedder
“The couple were so pleased with the outcome and couldn’t stop hugging each other and then hugging me,” she said.
“It was really beautiful.”
The property was one of 1188 scheduled to go up for auction in Melbourne last week. As of Saturday evening, Domain Group recorded a pre-auction approval rate of 73.6 percent from 803 results reported during the week, while 71 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the liquidation rate.
A six-bedroom house with a swimming pool and tennis court has been sold at auction in Narre Warren North.
The house at 31-32 Branca Court was marketed as: “dominant sized housing” and had a price guide of $2.95 million to $3.2 million.
“It didn’t go over very well. There wasn’t a big crowd and no one put in an offer,” said listing agent Steve Harrison of O’Brien Real Estate Narre Warren.
“We had three potential buyers, but only one showed up and didn’t bid, and the other showed up late after the auction ended,” he said.
“He could potentially make an offer.”
The property, which consists of six bedrooms, three bathrooms and a three-car garage, sits on an acre of land.
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“It’s a bit of a different property to have a higher than average price point on the corner with open vacant land on the side and no ability to subdivide, which has put some buyers off,” Harrison said.
Narre said the Warren market has “quite a lot of inventory” and properties in the $1.6 million to $2.2 million price range are performing well.
“This property is a little bit different in that it has a much higher price point,” he said.
PRD Real Estate chief economist Dr. Diaswati Mardiasmo said the Melbourne market had been stable for the last four to five weeks.
“Melbourne buyers have a bit more choice and they know there’s more stock on the way, so people don’t feel as much pressure to buy,” he said.
Mardiasmo doesn’t foresee this changing much in the near future.
“There are two more RBA meetings this year so I think there could be a slight improvement, but nothing major.”
A three-bedroom house on a heavily guarded street in Mount Waverley was sold at auction, but was later sold for $1.85 million through private negotiations.
Selling agent Jacob Biviano of Ray White Mount Waverley said the home at 29 The Highway had a price guide of $1.79 million to $1.89 million and had no set reserve.
Two active bidders participated in the auction, which opened at $1.7 million.
“Bids went up in $10,000 increments to $1.78 million and were eventually accepted,” Biviano said, “and then we negotiated the price up to $1.85 million, which was a pretty good increase.”
The buyers are a local couple who purchased the first house nearby for their adult children to live in.
“The house was actually sold to the sellers by my father in 1994, so that was a nice connection,” Biviano said.
