Lockdown restrictions could not dampen buyer demand as auctions netted sellers sterling results.
Bidders turned up to deliver strong prices at several June 19 auctions held by Barry Plant agents impacted by shortened sales campaigns.
The ban on home inspections during Melbourne’s recent lockdown meant typical four-week auction campaigns were reduced drastically. Many auctions were either cancelled or pushed back.
But sellers who chose to carry on were met with strong buyer demand and less competition from reduced auction numbers.
On June 19, with on-site auctions able to proceed with density limits, seven bidders turned up at 31 Carol Street, Scoresby, and the three-bedroom house on 715sq m sold just shy of $1 million at $998,000.
“We ended with an eight-day campaign because of the lockdown and yet had 59 groups through the inspections,” Barry Plant Wantirna auctioneer Brett Smith said.
“The first open was June 11 and we had the auction on June 19 but there was pent-up demand from buyers who had not been able to inspect properties.”
Buyers were also affected by the lack of supply in the market and they also wanted to meet the June 30 deadline to claim stamp duty concessions, Mr Smith said.
“The bidding was very strong and we even had a buyer bid via the phone and it sold well above the reserve which was within the $860,000-$940,000 price guide,” he added.
The corner-block property sold to a young first-home buyer couple who will move from a city apartment.
“The couple were also the first buyers to inspect the house when we could have an open,” Mr Smith said.
Over in Wheelers Hill, 5 Samuel Close sold $171,000 above the seller’s reserve for $1.861 million despite a shortened sales campaign.
A five-bidder contest started strongly but slowed until the house was called on the market at the $1.69 million mark.
“We only had two weeks of campaigns instead of the usual four weeks but had many buyers inspect the house three or five times,” Barry Plant Glen Waverley agent Ryan Yan said.
“All the bidders were families looking to move close to Caulfield Grammar and in the Jells Park Primary School zone.”
The vendors of more than 20 years are relocating but were overjoyed with the stunning result for the five-bedroom house, according to Mr Yan.
He noted the pocket in Wheelers Hill had a tight supply of listings and very few rental properties because most residents are owner-occupiers who stayed long term.