Chat with us, powered by LiveChatBuyer confidence at a high with Knox agency’s perfect auction record

Buyer confidence at a high with Knox agency’s perfect auction record

Barry Plant Wantirna hopes to extend 100 per cent clearance rate record

When it comes to auctions, an outer-east Barry Plant agency has an enviable record to keep.

The Wantirna team hopes to add to its run of 42 successful auctions, running from last November to May 1.

Pent-up demand and a lack of stock have driven the market in Knox to perform strongly and reward sellers with stellar prices, local agents said.

But it may get more challenging as the number of properties for sale have risen recently, by as many as 70 new properties each week.

“We had solid results on May 1 and hope to maintain our 100 per cent clearance rate,” Barry Plant Wantirna director Brendan Murphy said.

“The results show how strong the Knox market is and that buyers are prepared to pay for quality homes that they can live in for the next 20 years.”

He cited the strong interest from more than 100 groups of buyers for 12 St Bernards Court, Wantirna South, which drew four bidders on May 1.

The competition drove the property to a $1.47 million result which was well above what the seller had hoped for.

At 7 Freshfield Avenue, Wantirna, a determined bidder from Box Hill outlasted another bidder with an offer of $1.01 million, a leaving another seller who was thrilled with the result.

“There were just two buyers but the bidding went up in large increments and it was all over in 10 minutes,” Mr Murphy said.

“The winning bidder was keen to move in as her mother lives across the road.”

Also rewarding its sellers with a strong result was 33 Seminary Crescent, Knoxfield, which fetched $1,305,500.

Three bidders attended the auction for the four-bedroom house on 714sq m.

Meanwhile, a bidder from Pakenham, who only saw 6 Selkirk Avenue, Wantirna, on the day of the auction, snapped it up for $921,000.

The developer outbid a first-home buyer and two others for the 721sq m block which has subdivision potential. The result set a new street record price.

And a large four-bedroom house on 851sq m at 17 Karabil Close, Scoresby, sailed above its anticipated price to fetch $1.126 million in a four-bidder contest.

Barry Plant Wantirna has scheduled 14 properties for auction until the end of May.