Chat with us, powered by LiveChatRecord-breaking, reserve-smashing weekend at coastal auctions

Record-breaking, reserve-smashing weekend at coastal auctions

Seaside sellers cash in on strong demand in Labour Day weekend auctions

Victoria’s long weekend didn’t stop auctions in seaside suburbs from exceeding expectations and smashing new records.

The Barry Plant network had a strong overall clearance of 81 per cent from 26 auctions for the first weekend in March.

The Mornington Peninsula delivered strong results with three of three auctions smashing the reserves for the first auction weekend of autumn.

In Capel Sound, a renovated three-bedroom house at 19 Hakea Avenue set a new record for a residential sale in the street. Eight bidders battled it out for the 600sq m property, which sold for $821,000, a whopping $121,000 above reserve, according to Barry Plant Rosebud agent Paul Cunnington.

CoreLogic records suggest the previous record holder was 2 Hakea Avenue, which sold for $546,000 in 2018.

Meanwhile, just up the street in Rosebud,123 Second Avenue sold under the hammer for $727,000, an awesome $75,000 above the reserve price.

The previous record holder was 161 Second Ave, which sold for $655,000 just four months earlier. This property was also a three-bedroom, two-bathroom house on a similar block size.

Another impressive result was recorded at 14 Lyon Street, Rosebud with a $790,000-$840,000 price guide. The auction had six bidders vying for the keys, before falling under the hammer for $995,000, a cracking $145,000 above reserve.

Across the bay in Geelong West, Barry Plant Highton sales agent Cam Foster sold a converted bakery at 28 Potter St for $660,000.

Three bidders fought it out for the keys to the two-bedroom pad, which sold for a solid $85,000 above the reserve.

This weekend, the number of auctions in Victoria will bounce back strong, with more than 1000 properties to go under the hammer.