The home at had an emphasis on sustainability,Williams Real Estate listing agent and auctioneer John Limperis said,as demonstrated by its 7.1-star energy efficiency rating.
“It’s a very,very special home. We don’t see too many energy-efficient homes that are built for that specific purpose in the inner west,” he said.
“A lot of people who weren’t actually considering buying in the inner west,were actually considering this house.”
Limperis called for an opening bid at the bottom of the price range at $1.4 million,but the first bid was at the top of the range,$1.5 million. The auctioneer declined to reveal the reserve price. The sale price was $175,000 more than the range.
Limperis said that the underbidder,a couple,bid throughout the auction. The vendors bought the house for $1.27 million in 2018.
The home was architecturally designed.Williams Real Estate
It was one of 788 auctions scheduled in Melbourne on Saturday. By evening,Domain Group recorded a preliminary auction clearance rate of 63.1 per cent from 563 reported results,while 63 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
A couple beat out two other competitors for a three-bedroom Edwardian house in Kingsville at auction on Saturday.
The successful buyers paid $1,125,000 for,which was more than the price guide at $960,000 to $1,045,000. Listing agent Peter Skourtis of Buxton Inner West declined to reveal the reserve price.
Skourtis said the buyers were shy. A vendor bid at $985,000 was made,before a $1000 raise was accepted,Skourtis said. After no further bids,the auction was paused to confer with the vendors.
“We said,‘we’re not going inside for a second term’. We’re ready to sell,” he said.
After the break,bids were exchanged between two young couples until $1.05 million. At $1.05 million,a third buyer,an owner-occupier,started bidding $1000 increments. Skourtis said the auction lasted 20 minutes.
“They waited until there was a lull in proceedings to jump in and bid,” said Skourtis.
Records show that the house last sold for $925,000 in 2016. The vendors had plans to remain in the local area.
“It’s always good to sell at auction,it’s not always the way it goes at the moment. You usually start with one or two people[buyers] and that seems to be the trend,” said Skourtis.
In Cheltenham,a couple paid $1,241,000 for a three-bedroom house at.
A $1.04 million reserve price for the house was set,within the quoted price range of $980,000 to $1.05 million.
Bidding opened with a vendor bid of $950,000. Ray White Cheltenham director and auctioneer Kevin Chokshi said that it was a slow auction initially but picked up and rose quickly to $1.2 million.
“It[the house] opened up a wider pool of buyers – young couples,first-time buyers,and we had a couple of downsizers there as well,given it was a single-level home. It was a real mixture,” he said.
Chokshi said that there was a crowd of 70 people at the auction. The vendors,who were a young family,planned to remain in the local area and upsize.
In Greenvale,a family from Craigieburn paid $1,305,000 million at auction on Saturday for a four-bedroom house at.
Ray White Gladstone Park auctioneer Dom Zampaglione said the buyers had plans to renovate the existing two-storey property.
The sale price exceeded the vendors’ expectations by $205,000. The price range for the house was $1 million to $1.1 million.
“Two buyers were pretty emotionally attached to the home,” said Zampaglione.
The opening bid at $900,000 and $20,000 raises were made at the auction. A crowd of 50 people attended the auction.
“It had lovely potential,but it needed a lot of work,” said Zampaglione.
AMP chief economist Dr Shane Oliver said auction results at the weekend indicated the Melbourne property market continued to struggle.
“The market is struggling under the light of high interest rates,” he said.
“Obviously,the market is getting some support from a shortage of housing,very high immigration levels and a lack of new supply.”
“There’s not a lot of transactions occurring at the higher end[of the market],” he said.