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Multi-bidder Super Saturday auctions yield six-figure premiums

Real estate & property news
27 September 2023
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Auctions continue to reward sellers despite a rise in listings

Victoria’s spring auction season has had a record-breaking start, with more than 1,000 homes up for auction weekly for five consecutive weeks.

Barry Plant agents continue to perform well, posting a 75 per cent clearance rate for the week ending September 23, with 51 sales from 68 auctions.

The first month of the spring market was marked a B+ by Barry Plant Executive Director Mike McCarthy, the Herald Sun reported.

“Things have been good so far,” he said.

The Barry Plant Group has notched a more than 70 per cent clearance rate so far in spring, he noted.

“That says to me that we are still in a pretty strong market,” Mr McCarthy added.

Several sellers of original homes were handsomely rewarded at auctions, including a 1980s unit in Mt Waverley that sold for a record price.

The result for 4/7-9 Glenmore Grove (pictured below) surprised the seller and bidders when it fetched $930,000, which is a suburb record for a two-bedroom, one-bathroom unit.

It gave the seller a $130,000 windfall above the reserve, Barry Plant Dromana agent Carolyn Barton said.

“It was beautifully kept and has only been owned by women since the 1980s,” she said.

“There were four bidders, which included two single women, a single gentleman plus a young couple, and the buyer was a local woman who is downsizing.”

Over in Burwood East, two keen bidders pushed the result of 18 Sandowen Avenue (pictured below) to $1.41 million. The house of more than 40 years had a reserve of $1.13 million.

“There is a lack of good family homes on the market, so the listing was ripe for competition,” Barry Plant Glen Waverley agent Jasmin Tchilinguirian said.

The same day, a 42-year-old house at 3 Aminya Court, Wantirna, attracted five bidders and sold for $1,626,776, which was more than $300,000 above the reserve.

The unusual sale price was the result of two $888 bids made by the buyer at the closing stages, Barry Plant Wantirna agent Chris Hodge said.

“It was a strong contest because there are not many good listings in the market now, and several buyers had missed out on earlier auctions,” Mr Hodge said.

The agency achieved another stellar result at nearby 15 Kingloch Parade, Wantirna (pictured below), which sold for a massive $220,000 above the reserve. A first-home buyer won the keys to the three-bedroom house with a top bid of $1.22 million.

Real estate & property news
27 September 2023
Save Article

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