Auction Wrap – Saturday 29th November
|As the year draws to a close, the NJP team were in attendance at many auctions all over Melbourne. We were gauging whether buyers, knowing this is one of their last opportunities this side of the new year, were willing to up their budgets in order to secure a property.
According to the REIV, this weekend saw clearance rates around the 78% mark in VIC, with around 1241 properties making it to auction. Stock levels were 29% down on last year, with 1754 making it to auction in 2015.
6 Belmont Avenue Kew, listed by Chris Barrett & Peter Mitchell from Marshall White was the top seller this weekend, with a sale price somewhere in the early $6m’s. The second highest sold price was attained by 14 Kingsley Street in Elwood, with a sale price of $4.750m. Not surprising given this home’s architectural brilliance and proximity to all the offerings in Elwood.
8 Lagnicourt in Hampton (Barb Gregory & Jason Collie, Marshall White) sold for a solid price of $2.41m.
A huge land parcel totalling about 1538 sqm at 9 Montgomery Street, Brighton went to auction. The property was described by the agents at Buxton as a ‘rare Bayside estate with a unique pedigree’ , and sold under the hammer for $2.82m.
Robin Parker & Kate Fowler from Marshall White in Brighton secured a top price for the renovated home at 49 Service Street, Hampton, which sold under the hammer for $1.74m.
43 Type Street Richmond, a single fronted victorian listed by Edward Hobbs and Johannah Doherty and Biggin & Scott, sold for a deserving price of $1.27m.
11 Summerhill Road Brighton East on 650 sqm of land sold for $1.82m.
The auction at 31 Agnew Street in Brighton East drew a decent crowd, mostly comprised of neighbours and onlookers. Agents Peter Kennett and Tamara Whelan from Hockingstuart Brighton managed to drum up two bidders on the property, but despite Peter Kennett’s animated description of the property and auctioneering style, the property did not meet its reserve at auction. It was passed in at $1.58m and sold later for an undisclosed price.
The final auction we attended was located at 136 Thomas Street in Hampton. Two titles being sold as one gave this property a generous land holding of 1203 sqm. Despite the opportunities outlined by Mark Earle and the Buxton team, only two bidders came out of the woods, and the property was passed in at $2.35m, selling later in the day for $2.695m.