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Bundoora homeowner nails two auction sales in a day

Real estate & property news
04 May 2023
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Northern suburbs sellers reap tidy rewards in strong market

A Bundoora owner is over the moon after selling two homes on the same day for prices well beyond expectations.

Her four-bedroom home at 11 Ellery Street and her three-bedroom investment property at 14 Carolyn Crescent both changed hands through Barry Plant North Eastern Group partner Michael Egan.

The properties attracted multiple bidders at auctions held an hour apart on April 15 and sold above the seller’s reserve prices.

“The owner, who was moving interstate, had lived at the Ellery Street house for more than 35 years,” Mr Egan said.

“And she had leased out the property at Caroline Crescent under our management.”

Six bidders competed for 11 Ellery Street, which sold to a young local family for $950,000, a whopping $120,000 above the seller’s reserve.

A rare offering in the area, the four-bedroom house with two living areas attracted plenty of attention, according to Mr Egan.

“The buyers, who had been looking since late last year, were determined to win the keys,” he said.

“They made quick bids against the competition.”

The vacated property at 14 Carolyn Crescent was contested by five first-home buyers and sold to a young local couple.

They splashed $800,000 on the home, smashing the seller’s reserve by $110,000, according to Mr Egan.

Mr Egan said the market was buoyant in Bundoora, with high auction clearance rates and strong sale prices.

“Demand is exceeding the supply of properties for sale here,” he said.

“Prices have increased by 5 per cent in the past two months because people are prepared to pay more to secure a home.”

Well-presented properties in good locations were selling quickly, he added.

A stunning five-bedroom, three-bedroom showpiece at 26 Maculata Grove, lasted three weeks on the market before it was snapped up for $1.55 million.

The property attracted six offers and was sold to a local family wanting to upsize.

“Large family homes like this are difficult to find in today’s market,” Mr Egan said.

A total of 25 groups inspected a three-bedroom house at 18 Doidge Street, within the first week of listing.

“The majority were first-home buyers and downsizers,” Mr Egan said.

The stylish move-in ready house with a $700,000-$770,000 price guide, offers relaxed family living, thanks to its spacious interiors and fabulous undercover alfresco area.

Complete with all the modern comforts and conveniences, the property is in an enviable location near Plenty Road trams and buses, shops, M80 Ring Road, Latrobe University and schools.

Real estate & property news
04 May 2023
Save Article

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