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Seaside online auctions providing sunny results for sellers

Lockdown didn’t deter buyers logging on to secure their next property

Melbourne went into yet another lockdown, but it didn’t stop vendors from cashing in over online auctions.

Barry Plant Mentone-Cheltenham had eight properties due to go under the hammer on Saturday, May 29. Four were postponed until June, while the other four diverted to online auctions, with three properties changing hands.

A contemporary townhouse at 1/19 Northcliffe Road, Edithvale, drew seven first-home buyers. Strong bidding ‘knocked out a few’ contenders quite early, according to sales agent Nathan Wright.

“Online bidding didn’t hinder our process at all, it still worked exceptionally well,” he said.

“It was a long auction, a lot of small bids back and forth from $820,000, between young couples all looking to buy in the area.”

The property, just a few years old, sold for $871,000, a decent $71,000 above the seller had hoped for.

Nearby at 4/204-205 Beach Road, Mordialloc, a mix of first-home buyers, downsizers and investors vied for the keys over a zoom auction.

The property, located one-minute walk to the beach and shops, drew eight registered bidders.

“We had a strong first bid of $960,000 which knocked most buyers out of the competition, making it a fairly short auction,” sales agent Eva Cumming said.

The home was sold to an investor for $1.01 million and ran smoothly online with no issues, Ms Cumming said.

“The auction was great, everyone was very relaxed, bidders understand the online auction process now, it was almost second nature to a lot of people,” she said.

Further down the coast, a Capel Sound house was sold through negotiations the night before it was due to go to auction.

The four-bedroom beach shack at 63 Florence Avenue sits on 836sq m and attracted investors and holiday-home seekers, according to Barry Plant Rosebud director Craig Leo.

“We have done online auctions before, but we had the buyers and knew we could sell earlier,” he said.

The property drew four offers, eventually selling for $861,000 –$30,000 above the seller’s expectations.

Across the bay, one of Fyansford’s historic homes at 55 Lower Paper Mills Road, sold exceptionally well via an online auction conducted by the Barry Plant Highton office. The enchanting property secured an extraordinary $1.35 million.