Young couple buy $1.7m Carlton North two-bedder with rooftop terrace
The sale was one of 1133 auctions scheduled to take place in Melbourne on Saturday.
In Woodend, a house advertised as published reserve sold for $108,000 more than the lowest price its seller would have received.
Three bedroom house 30 Morris Road It was offered for sale with a reserve price of $675,000 by John Keating of Keatings Real Estate, a long-time advocate of posting reserves ahead of auction.
Three bidders, all home buyers, objected to the auction, Keating said. The initial bid of $680,000 exceeded the reserve price and sold for $783,000.
Publishing the reserve makes it easier for potential buyers, the agent said.
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“Only 11 groups of people looked at it in four audits,” Keating said. “This shows the value of transparency because people know where they stand.
“We have [fewer] Because those who couldn’t afford $675,000 couldn’t make that money.”
Keating said the result confirmed the state government’s recent announcement that it would introduce laws that would require agents to list the reserve price a week after the auction. “The auction was a perfect example of a public reserve price auction with maximum transparency: Sellers were happy, buyers were happy; that’s how all auctions are supposed to be done, done right.”
In Carlton North, a renovated Victorian building fetched its owner the reserve price of $1.7 million after receiving a single bid.
two bedroom house 679 Drummond Street There was an atrium in the back, and a modern style upstairs with a wet bar and entertainment area with city views.
The home was close to the popular Rathdowne Village dining and lifestyle district.
“It was a beautifully presented home with a very private upstairs area that resembled a backyard but with outstanding views over the CBD and surrounding area,” said Jellis Craig selling agent and auctioneer Trevor Gange. “The integration of the outdoor space and the indoor space upstairs was perfect for entertaining. I think it’s a big hero for the property.”
Gange listed the home for sale with a price range of $1.6 million to $1.7 million.
The auction started with a seller bid at the bottom of the range. Only one buyer bid on the home, offering $1.62 million before it was transferred to them.
The reserve was at the top of the range. Gange said that a young, professional couple bought the house. “This was a very good outcome for the property, considering it was a two-bedroom, two-bathroom home.”
A two-bedroom home in Newport sold to home buyers for $1.17 million.
Weather board at home 20 Tait Street Williams Real Estate selling agent Katie Smith said it was recently an investment property but was also the home of the sellers.
“I sold it to these people at an auction 18 years ago, so it’s kind of full circle for me. Their family lived there half the time and they rented it out half the time,” he said. “…it was clean and tidy, it had a really nice frontage, which was a big thing for them, and it was on a great street.”
Smith listed the house for sale with a price range of $1 million to $1.1 million. He said the reserve was set at the bottom of the range.
“It just flew by. It started at $900,000 and I didn’t get a chance to tell it it was on the market. It was a quick auction.”
Smith said four buyers were competing and all wanted to live in the home.
