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Bundoora and Macleod: Winter auctions deliver hot results

Real estate & property news
14 June 2024
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Northeast winter market favors quality homes in good locations.

Upgrading families have splashed up on homes at auctions in Melbourne’s northeast suburbs.

Six bidders attended the June 1 auction at 10 Nara Court, Bundoora, and it sold strongly for $1.166 million to a buyer looking to upgrade, Barry Plant Bundoora partner Michael Egan said.

SOLD - 10 Nara Court, Bundoora

The bidding, in front of a crowd of 20 people, started at a low $800,000, and ended after more than 40 bids.

The sale of the four-bedroom house on 531sq m gave the vendors a handsome premium on their $1 million reserve price, Mr Egan said.

The property’s desired location and new build created strong competition.

“Not many brand new homes come up for sale in this area,and it was the first one we have listed there in a long time,” Mr Egan added.

“The property also represents value for money and is in a good location near schools and the university.”

The house is close to Norris Bank and St Damien's primary schools, and within easy reach of Plenty Road trams, Bundoora Square shopping centre and parklands.

Mr Egan noted that the market still favored well-presented and quality family homes, which attracted plenty of buyer interest and competition.

“The winter market will continue to see high demand for properties in good locations and that are priced right,” he said.

On the same day, Mr Egan also auctioned 9 Crestwood Avenue, Macleod, with two bidders battling it out until the end of the contest.

SOLD - 9 Crestwood Avenue, Macleod

The four-bidder auction started with a low bid of $1.6 million but bidding rose rapidly until the property was called on the market at $1.84 million.

With a $1.68-$1.78 million price guide, the property, described as an “executive residence”, features a pool in the backyard, a blend of indoor-outdoor living areas, and manicured garden.

A young family, who had been looking to upgrade for 12 months, won the keys with a $1.904 million bid.

Real estate & property news
14 June 2024
Save Article

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