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Coburg and Fawkner auctions: Multiple bidders set up perfect clearance rate

Real estate & property news
12 December 2022
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Inner-city summer selling season kicks off to a fine start

Auctions held on the first Saturday of summer in Melbourne’s inner city suburbs have reaped rewards for sellers.

Properties in Coburg and Fawkner attracted strong bidding and sold above reserve prices, according to Barry Plant Inner City Group agent, Sam Gotzilianis.

Four bidders competed for a three-bedroom house at 72 O’Hea Street, Coburg (Main image above), which was snapped up by a young family living locally for $1.184 million.

“This was one of the best auctions held by our agency this year,” Mr Gotzilianis said.

Rapid bidding pushed the price $84,000 above the seller’s reserve, he added.

The fully renovated Victorian home attracted strong interest because of its period charm, contemporary comforts and prime corner position.

Set in manicured gardens, it showcases fireplaces in each room, an elegant archway plus soaring ceilings with deep cornices and rosettes.

Meeting modern needs, it includes a main bedroom with an ensuite plus an open-plan living, kitchen and dining zone that opens to a covered entertainment deck.

A short stroll from the property reaches railway stations, Sydney Road shops and cafes, Coburg Lake Reserve and Merri Creek bike trail, Harmony Park plus schools.

The sellers, who bought the property from Mr Gotzilianis about nine years ago and leased it out for the last few years, are moving to Templestowe.

Nearby, two bidders went head-to-head in a battle for a four-bedroom house at 22 Stawell Street, which sold for $1.17 million to a young couple with a newborn child.

Onlookers watched the price sail past the $1,000,050 seller’s reserve, according to Mr Gotzilianis.

“The buyers were over the moon with their purchase,” he said.

The bidder who missed out had sold their unit with another agency and were looking to upsize, he added.

An investment property for the sellers for nearly seven years, the generously proportioned home is in a desirable location near schools.

“It drew good interest because it was ready to move into and offered buyers the chance to put their personal stamp on it,” Mr Gotzilianis said.

The double-storey house with bedrooms and bathrooms on both levels, suits the needs of a growing family with its two living and dining areas, and a decked entertainment zone.

And in Fawkner, two first-home buyers fought for a four-bedroom house at 7 Shaw Street, which sold $30,000 above the seller’s reserve for $730,000 to a young couple from Pascoe Vale.

“The bidding was slow to start but ramped up towards the end when the property was called on the market,” Mr Gotzilianis said.

The bidders were attracted to its affordability, presentation and location, he added.

On a well-proportioned 577sq m block with a side driveway and garage, the house is in a coveted area near schools, transport, Anderson Road shops and Moomba Park.

The three auctions produced great results for the start of summer, according to Mr Gotzilianis.

“While the numbers of people attending opens have reduced, quality buyers are still out there,” he said.

“Inner-city properties will continue to do well, especially those in family friendly suburbs with good schools, parks, shops, transport and sports facilities.”

One of the last auctions for the year will be held at 17 Rollo Street, Coburg North, on December 20.

Attracting strong interest from young families, the three-bedroom house with $890,000-$940,000 price hopes comes with a vast alfresco deck and a sparkling inground pool.

“It offers great value and a resort-inspired lifestyle,” Mr Gotzilianis said.

“We expect a good turnout at the twilight auction.”

An irresistible offering for a first-home buyer, downsizer or investor, the cream clinker-brick house features hardwood floors, sash windows, an open fireplace plus all the modern comforts and conveniences.

The location is also a drawcard, near two train stations, cafes, parks, schools, Coburg North Village and Sydney Road.

Up for auction on December 17, is a freshly painted two-bedroom unit at 4/4 McKay Street, Coburg, which is catching the eye of first-home buyers and investors.

The low-maintenance gem with $410,000-$450,000 price hopes, features new blinds and modern flooring.

Both bedrooms have built-in wardrobes, while the kitchen is well equipped with a freestanding stove plus ample storage and bench space.

Complete with a balcony and an undercover car parking, the bright and airy home is within easy walking distance of Sydney Road shops and transport.

Real estate & property news
12 December 2022
Save Article

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