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Labour Day weekend auctions achieve cracking results across the northern region

Real estate & property news
10 March 2021
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Unexpected windfalls for sellers in Melbourne’s north and north-west suburbs

Auctions in Melbourne’s northern suburbs scored impressive results for sellers over the Labour Day long weekend.

More than half the 26 auctions by the Barry Plant network were in the city’s north and north-west suburbs. A strong clearance rate of 81 per cent was reached, with 21 properties sold.

A patch of dirt at 60 Perversi Avenue, Diamond Creek, was snapped up for an outstanding $1.2 million on Saturday, according to Barry Plant Diamond Creek director.

Two bidders hotly contested the 4,462sq m hilltop block and drove the price $100,000 above its $1-$1.1 million quoted range.

“It was a sensational result as blocks like these are as rare as hen’s teeth,” Mr Koiker said.

A family from Diamond Valley plans to build their dream home on the block.

Vendor reserves were smashed and a new benchmark price set at Niddrie auctions, according to Barry Plant Moonee Valley director, Bill Karp.

Eight bidders battled for a three-bedroom house at 4 Jackson Street, and after 118 bids it sold for $1.541 million, a whopping $221,000 above reserve, to a family who lived a few streets away.

“This is a new benchmark result for this type of family home in Niddrie’s most popular street,” Mr Karp said.

Also in Niddrie, three developers fought for a knockdown three-bedroom house at 70 Hotham Road which sold for $1.454 million, a huge $254,000 above reserve.

“The first bid hit the reserve at $1.2 million … there is big money going around,” Mr Karp said.

Barry Plant Moonee Valley also auctioned a three-bedroom unit at 3/12 Bowes Avenue, Airport West for $655,000. And a three-bedroom house at 20 Cannes Avenue, Avondale Heights, sold for $920,000 or $120,000 above the reserve.

In Sunshine, five bidders competed for a three-bedroom house at 7 Donald Street in desirable Matthews Hill. The property was snapped up by an interstate buyer for $981,000, an awesome $131,000 above the reserve.

“It was an amazing result for the long weekend,” Barry Plant Sunshine director, Jason Allen said.

“The auction opened with a $800,000 bid and then the buyer made a big $930,000 bid and scared off other bidders.”

In Epping, there was “hectic” bidding for a three-bedroom house at 1 Cleeland Close, which sold for $130,500 above reserve.

One of eight bidders, a first-home buyer wanting to live near family, forked out $650,500 for the home near Greenbrook shops.

“The auction was hectic with quite a few big bids,” an agent from Barry Plant Epping said.

In Greenvale, a five-bedroom house on a 1,496sq m block at 8 Wichell Close was snapped up for $1.026 million by a Fawkner buyer who saw the property on the internet for the first time on auction day.

“Just a look online was enough for him to bid and buy the home,” an agent from Barry Plant Gladstone Park said.

Home to the owners for nearly 25 years, the updated house with a self-contained cottage attracted four bidders and sold for $76,000 above the reserve.

“They all bid to the $1 million mark ,”

In Doreen, a five-bedroom house at 17 Marley Boulevard fetched $900,000 after auction the same day.

With a quote range of $800,000-$880,00, the property attracted 63 groups and sold to a family from Canterbury, who recently missed out on a property in the same area, according to Barry Plant Doreen director.

“There is strong demand and competitive bidding for the limited supply of homes in Doreen,” he said.

Real estate & property news
10 March 2021
Save Article

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