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Heathmont original soars $144K beyond reserve

Corporate - Home Page
06 September 2022
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Barry Plant network scores 70 per cent clearance rate

A move to proceed with an auction despite only one pre-auction offer has paid off handsomely for a Heathmont seller.

Seven bidders ended up competing for the four-bedroom house at 25 Allens Road (pictured above and below), which sold for $1.394 million, about $150,000 beyond the seller’s $1.25 million reserve.

“We decided to let it roll and see what happens at the auction,” Barry Plant Heathmont & Ringwood auctioneer Kate Birchall said.

“No way did we expect such a result and the sellers are ecstatic and can enjoy the next chapter of life with a bit more money to spend.”

About 80 groups had inspected the property, with several returning three or four times, which was an indication of the strong interest.

The empty nesters had kept the house well maintained and gave it a lick of paint, and refreshed the garden for the September 3 auction.

“We didn’t expect seven bidders until auction day, and they came from the local area and further away,” Ms Birchall said.

The house on 888sq m was purchased for just $110,000 in 1994, according to sale records.

“The result was very strong and showed quality family homes are sought after in Heathmont,” Ms Birchall added.

“The house is in a great location, just steps to the village shops, and close to the train station and nearby trail.”

The suburb is well known for its leafy streets, large block sizes and family-friendly facilities close to amenities and top schools.

Supply of spacious four-bedroom houses is very tight, which means buyers often have to pay more.

“Single-level houses like this are rarely listed and buyers are willing to stretch for good, long-term family homes,” Ms Birchall said.

“The bidders competed very hard and knew the value of the location and strong capital growth potential.”

The buyer was a local family who are upsizing to the property.

“Everyone wants to upsize and have more space but there are no such homes on the market now,” Ms Birchall said.

“Supply of properties like this will be tight this spring, though there may be some family homes coming on the market later.”

The result was among 31 successful auctions by Barry Plant agents for the week ending September 3. This was from a total of 44 auctions for a clearance rate of 70 per cent.

Corporate - Home Page
06 September 2022
Save Article

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