Young couples and families swamped the auction of an outer-east home that fetched almost $400,000 beyond expectations.
The fully renovated four-bedroom house on 737sq m at 18 Rowan Avenue, Boronia (pictured above and below), changed hands at the August 12 auction for $1.37 million, a whopping $380,000 above the seller’s dream price.
The auction attracted 21 registered bidders, who were given paddles to bid by selling agent Keith Wilson at Barry Plant Boronia.
Their agency is among just a handful that issue paddles for bidders at auctions, according to senior agent Keith.
“The sellers were very excited as the auction went crazy, and were in shock with the result,” he said.
“We had 150 groups at the opens and around 200 people on the day.”
The property was a desirable offering because there were few properties of that type listed in the area, Mr Wilson noted.
The buyers were mainly owner-occupiers including young couples and families.
They were attracted to the impressively landscaped backyard with a pool area, basketball ring, and a man cave set up with a bar and projection screen.
Another stellar result on the same day was 41 Dickasons Road, Heathmont (pictured below), which sailed nearly $300,000 beyond expectations.
The owner, who also built the property, had lived there for 66 years and was moving into retirement living.
“We are still pinching ourselves over the result,” Barry Plant Heathmont & Ringwood agent Marcus Lim said.
“We had hoped for perhaps $1.1 million for the three-bedroom home in original condition, but it fetched $1.33 million.”
Quick strong bidding followed the first bid of $1.05 million, which was already beyond the seller’s dream price, and the property sold under the hammer to a young couple who was upsizing.
The sale price is a record in the Heathmont for a three-bedroom, one-bathroom house, sale records show.
Meanwhile, at 920 Point Nepean Road, Rosebud (pictured below), a failed auction sale earlier in March has ended with a larger bonus for the sellers.
The property’s $1.55 million sale in March eventually fell through, and it was relisted with Barry Plant Dromana director Terry Burgoyne.
The August 5 auction attracted a tiny crowd, but it still gave the sellers an extra $120,000 in their second attempt to sell.
A local business operator, who only saw the property for the first time at the auction, placed the highest bid of $1.67 million. They are planning to redevelop the property and build homes for their employees.
“When we got to the auction there were four people, myself and the auction team, seven in total,” Mr Burgoyne said.
“Two were there as neighbours … but the other two had never seen the property and got into a bit of a bidding frenzy.”
The 780sq m property has a 27m-long private laneway that ends at the foreshore a few metres from the beach.
If you’re considering a sale of your property, or if you just want to know what it would fetch in today’s market, talk to the Barry Plant team today.