Armadale, Bentleigh East homes for sale at auction
An all-white two-bedroom Victorian terrace in Armadale sold at auction on Saturday for $1,571,000; two bidders took it almost $100,000 over its reserve.
Updated one-bathroom home 15 New Street To the rear is an open-plan entertainment and dining room, with wraparound decking opening onto a small, lush garden.
It had a price guide of $1.35 million to $1,475,000 (plus reserve price).
Marshall White Stonnington agent and auctioneer David Stringer said bidding started at $1.35 million and continued with successive bids of $20,000 and $10,000 as the property surpassed $1.47 million.
Stringer declared the home on the market for $1.48 million before increasing in increments to $5,000, with bids of $1,000 eventually ending the auction.
Stringer said the winning bidders were a couple and the seller had recently purchased an item for a lifestyle change. He lived on the property for 31 years, purchasing it for $234,000 in 1994.
He noted that the seller was happy with the final price, but due to low attendance at the inspection, the guide was lowered from $1.55 million at the start of the campaign.
Drawing attention to the successive interest rate increases and the general uncertainty in the market, Stringer said, “It is really difficult to price real estate right now. This is the essence of the matter.”
“But sellers who listen, present their properties well and promote them well, get them sold,” he said.
The property was one of 1085 scheduled to go up for auction across Melbourne on Saturday.
Further south, a three-bedroom townhouse in Bentleigh East sold at auction for $990,000; which was well below the $1,089,000 reserve.
Large open-plan modern house 2/58 Wingate Street It featured a large rear deck, two bathrooms, and a full-size carport and garage, and had a price guide of $940,000 to $1.03 million.
There is no legal requirement for a seller’s reserve to match the property’s price guide.
Jellis Craig Bentleigh agent and auctioneer Anthony Fordham said bidding started at the reserve low of $940,000, with two bidders trading in $10,000 increments until the property was delivered at $990,000 with a seller’s bid.
Fordham said the seller had moved to be closer to his job in West Melbourne and the two bidders were people trying to downsize and a couple hoping to move from Altoona.
Fordham said it is negotiating with a potential buyer and expects the property to sell by Saturday afternoon.
