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Melbourne Cup weekend sellers beat odds and cold for auction wins

Corporate - Home Page
08 November 2022
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Windfall sales in Bayswater, Berwick and Tootgarook among top results

The Bayswater house price record was smashed in a seven-bidder contest that gifted the sellers a huge windfall.

The 9 Victoria Road property fetched $1.5 million, which was almost $100,000 above the previous record set in April by 2 Rodney Street, according to sales records.

“It is a huge price for a house on a residential block in Bayswater, and it was a dream outcome for the young sellers who built it,” Barry Plant Wantirna auctioneer Daniel Cripps said.

“They would have been happy with a $1.3 million-plus result.”

The modern single-level house on 980sq m attracted plenty of interest prior to the October 29 auction.

“The buyers were mainly locals wanting to upsize and they were willing to pay a bit more to secure and move into the large home,” Mr Cripps said.

The property had a $1.28 million reserve, giving the sellers a $220,000 premium for the home that features three lavish living spaces, an alfresco entertainment area and beautiful landscaped gardens.

Mr Cripps also sold 6 Gerda Street, Scoresby, on the same day for $1.082 million. Four bidders pushed it past the $990,000 seller’s reserve, with buyers drawn to the home’s central hub and impressive renovated kitchen.

In Berwick, the rain clouds cleared in time for the auction of 45 Elgin Street, which was built in 1901 and later renovated and extended.

The three-bedroom house on 1200sq m in Olde Berwick was a rare listing and features original period details.

“There was a large crowd of 100 and I believe that people will come rain or shine, if they want to buy,” Barry Plant Berwick agent Gabriel Nigro said.

“The clouds cleared during the auction and we had two bidders.”

A Berwick local phoned in from Singapore with bids and won the keys to the property for $1.2 million. This was at the top of the seller’s price range.

“Such heritage homes are rarely listed in Berwick and attract a certain type of buyer and the new owner has been looking for a large home for a year,” Mr Nigro said.

Sale records showed the property was purchased for $195,000 in 1997.

On the Berwick market, Mr Nigro said renovated homes were in hot demand.

“We have had plenty of success selling modern or renovated homes, and 72 Marsh Grove, Berwick, recently sold after one week with two offers,” he said.

The four-bedroom house fetched $975,000 with an unconditional offer.

He noted the market was now “normal and balanced” between demand and supply.

“Agencies and agents with experience and a good track record are getting listings because sellers know that we have performed in a tough market,” Mr Nigro said.

On the Mornington Peninsula, a three-bedroom house sold for $90,000 above the seller’s reserve price for $965,000.

The 20 Morris Street, Tootgarook, home had its price guide revised from $800,000-$850,000 to $825,000-$875,000, prior to the auction due to strong demand.

Seven bidders competed strongly to push the property above the seller’s $875,000 reserve.

Corporate - Home Page
08 November 2022
Save Article

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