Bendigo buyers pay $2,225,000 for three-storey, city-edge base
A modern three-storey terrace house overlooking a leafy square in Carlton sold at auction on Saturday for $2,225,000; Two bidders placed the home $125,000 over reserve.
Three-bedroom house on the edge of town 54 MacArthur Place North It was listed with a price guide of $1.85 million to $2 million and featured a rooftop deck, views of MacArthur Square and a “move-in-ready” modern design.
Marshall White agent and auctioneer David Lettieri said the bidding was opened at $1.75 million by the low bidder and quickly rose with bids of $25,000 throughout the course of the auction, quickly surpassing the $2.1 million reserve before eventually selling.
There is no legal requirement for a seller’s reserve to match their property’s price guide.
Lettieri said the winning bidders were based in Bendigo and were looking for a larger base when they came to the city. The house was sold as part of a deceased estate.
Despite a long weekend and low clearance rates, Lettieri said the results suggest the market may be healthier than expected.
“If that’s a market picture of $125,000 above reserve with two bidders, then obviously it’s pretty good,” he said.
“But this is now a very strategic process. “At every stage of our sales process.”
The property was one of 408 properties scheduled to go up for auction in Melbourne this week.
A one-bedroom flat in an art deco block in East Melbourne has been accepted with an opening seller’s bid of $550,000 after two prospective first home buyers failed to bid despite previous interest.
North facing house, freshly painted and newly carpeted 16/84 Gray StreetIt was part of the historic Belgravia Square with a price guide of $550,000 to $600,000 and a reserve of $600,000.
RT Edgar agent Michael Ebeling said its simple-term appeal and affordability had attracted strong interest from first home buyers, but concerns about delays in Australian Government 5% Deposit Scheme approvals and the threat of further rate hikes in the coming months were holding bidders back.
“I’m confident it will sell early next week,” Ebeling said, noting that he had seen investors “stepping back” from the market, meaning campaigns were focusing on first-home buyers.
“And many of them don’t have the money for a 10 per cent deposit… so you have to be more patient with them.”
