Auction Wrap 24th February 2018
The first Super Saturday for 2018 in Victoria had 1701 auctions scheduled, with a 72% clearance rate according to REIV published data.
In blue-chip Brighton, the auction of 10 Farleigh Grove (marketed as prime land to build) attracted a crowd of neighbours, onlookers, enthusiasts, as well as serious bidders. Stephen Smith of Marshall White led the auction, supported by Andrew Campbell and Ben Vieth. We counted over five bidders, some bidding for others and some for themselves. From $10k to $5k to $20k, there seemed to be no rules or clear strategy in play. Some playful banter between the bidders and crowd kept things interesting – not that the auction itself wasn’t keeping everyone entertained. Stephen announced the property as on the market in the high $3m’s, with an end result of $4,710,000 well above reserve, equating to over $7,040/sqm for the land.
22 May Street kicked off the morning auctions in Hampton however the crowd of mostly onlookers did not give auctioneer Robin Parker of Marshall White, a Hampton local himself anything to get the process underway. An out of area agent representing a young couple finally kicked it off at $2.225m. That is where it stayed though despite robin’s entertaining style. The property passed in and sold later for $2.44m
Over in Mills Street Hampton, two different properties we’re scheduled for auction at the same time. 31 Mills Street, a four bedroom Edwardian family home with a pool, drew a crowd of around 60+ people and three tentative bidders. Again, auctioneer Robin Parker worked hard for an opening bid of $2,200,000, then called for $50k rises. Two bidders pushed the price to $2,400,000, then a third bidder came out of the woodwork with a $15k bid. The property passed in at $2.415m and sold after to the highest bidder for just under $2,600,000.
Further up at 54 Mills Street, Stephen Tickell, supported by Jenny Dwyer and Warren Smith, delivered a very engaging, friendly and confident auction spiel. One person opened the bidding at $2,450,000 which was followed by another bid of $50k. Once the property was on the market, director Nicole Jacobs began to bid on behalf of a client and the property successfully acquiring the property under the hammer for an undisclosed amount just under $3,000,000.
20 Bridge Street Hampton, a well designed and executed Nick McKimm home was auctioned by Stephen Wigley from the Hodges Sandringham team. This auction started off with a vendor bid of $3.2m. After the small crowd of about 40 fell silent, Stephen placed another vendor bid at $3.3m but there were no bids from the crowd and the property passed in.
The crowds at 9 Holzer Street Sandringham, were spilling out from the elegant front yard on to the street. Two serious bidders raised the price to $3,415,000, but Robin Parker passed the property in. The property sold later for an undisclosed amount.
6 Normanby Street Brighton, auctioneered by James Paynter and Danielle Martin began with a vendor bid of $3,200,000 and calling for increments of $50k. Three bidders came in and once the property reached $3,600,000, the auctioneer went inside to consult with his vendors. The property was not yet on the market. The original bidder gave a final bid of $3,725,000 and the property was sold. The property was sold within the advertised range.
Other Notable Auction and Private Sales Covered –
47 Roseville Avenue – Roseville, NSW – $4,860,000 (25/02)
48 Fawkner Street – South Yarra – Undisclosed mid $3m’s (23/02)
13 Edro Avenue – Brighton, VIC – Undisclosed mid $4m’s (24/02)
7.03/46-52 Wentworth Avenue, Surry Hills NSW – Undisclosed circa $3.4m (prior to auction)