Young family beats out downsizer to land keys to $1m Brunswick East home
Updated ,first published
An updated California bungalow in Thornbury sold Saturday for its $1,685,000 reserve; Three bidders persuaded him to put it on the market as homebuyers became more price-sensitive.
three bedroom house 139 Rossmoyne Street It featured a mix of old and new, with navy blue accents highlighting the homeowners’ Carlton memories, original brown trim at the back of the house, polished floorboards, a backyard with two sheds, a golf course and a hot tub.
Located halfway between High and Station streets, the price guide for this vehicle was $1.55 million to $1.65 million.
There is no legal requirement for a seller’s reserve to match the property’s price guide.
Jellis Craig Northcote agent and auctioneer Sam Rigopoulos started bidding at $1.55 million with only four further bids in increments of $50,000, $10,000 and $5,000 leading to the auction ending.
“Having three people bidding on a house right now is a good outcome,” Rigopoulos said, noting that interest rate increases and general uncertainty have caused buyers to be more price sensitive, especially at the higher end of the market.
Rigopoulos said the winning couple had young children and moved from Mornington to be closer to family in the local area.
The empty-nesters, who did not give their names and want to move to Mornington, said their next move would be a holiday “probably in Thailand” before an Airbnb tour of the peninsula to find their new home.
The property was one of 891 properties scheduled to go up for auction in Melbourne this week.
To the south, a modern three-bedroom townhouse in Bentleigh East sold for $1.38 million in a competitive auction between two young families.
The open-plan two-story home at 71a Stockdale Boulevard, near Center Road and about a 20-minute drive from Brighton Beach, had a price guide of $1.15 million to $1.25 million and a reserve of $1.3 million.
Ray White Bentleigh agent Olivia Petrou said bids started at the lower end of the guideline, with bids rising steadily in increments of $20,000, $10,000 and eventually $2500.
The winning couple had young children, and Petrou said the sellers had moved their own young families interstate for “a complete lifestyle change.” Petrou said that those participating in the tender were also a young family.
A clinker brick house in a quiet pocket in Brunswick East sold at auction for $1.02 million; three bidders bid $30,000 above the property’s price guide.
Three bedroom, two bathroom house 57 Ryan Street It was located next to a former electrical substation, and the recently secured parcel of former council land added to the house’s appeal.
There was a price guide of $900,000 to $990,000, and the reserve was set at $945,000.
Barry Plant Brunswick agent and auctioneer Ben Calcagno said the auction started at $875,000 and jumped to $900,000, then settled in increments of $10,000 and $5,000 until the hammer fell on just over seven figures.
He said the winners were first home buyers and a young family, who narrowly beat out an older downsizer and another young couple looking to move to the area.
The property was being sold as part of a former estate, and Calcagno thought its location close to Brunswick East Elementary School and supported by additional land made it a unique property in a challenging market.
“It’s definitely more of a buyer’s market,” he said. “But that being said, if you have a really good product and the price is reasonable, you can still be really successful as a seller.”
A spacious four-bedroom house on a large block in Craigieburn sold for $897,500; Two bidders narrowly pushed the price above the $895,000 reserve.
Single storey house with multiple living spaces 98 Golf View Driving It featured an alfresco dining area overlooking a reserve near Aitken Creek and a walkway at the rear of the property, and had a price guide of $840,000 to $860,000.
Ray White Craigieburn agent and auctioneer Phong Ho said the auction started at $840,000 and rose mostly in $10,000 increments over 10 to 15 minutes, before bids dropped to $2500. Sold to a couple from South Morang.
Ho said the buyers ended up going just over their $895,000 budget after losing the home they previously had their heart set on.
“They fell in love with it, so they were willing to spend a little more to make the rest of their weekend easier,” he said.
