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Bidders keen to land homes drive strong auction contests

Real estate & property news
19 June 2024
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An overseas-based family who missed out on multiple auctions over 12 months have finally landed a home.

With a bid of $1.972 million, they edged out three other buyers to win the keys to 14 Allenby Avenue, Wantirna South.

SOLD- 14 Allenby Ave, Wantirna South

The four-bedroom house on 784sq m, went to auction with $1.4-$1.54 million price hopes. It started with a $1.4 million opening bid and two bidders fell away as the June 8 auction took off.

The result, which soared above the $1.55 million reserve price, was unexpected, according to Barry Plant Wantirna agent Chris Hodge.

“We did not think it would sell for so much,” he said.

“We met the buyer last year and they had missed out on multiple properties and then returned overseas.”

The buyer’s son inspected the house and made bids at the auction while on Facetime with his parents, Mr Hodge added.

The underbidder, who missed out on this property, had also been looking for a home to buy for 12 months.

Mr Hodge noted that the property attracted strong inspection numbers because it was just 12 years old and located near Westfield Knox Shopping Centre.

The agency also recently sold two homes on the same street, on the same day just hours apart for strong prices.

Six bidders keenly contested the auction of 38 Alderford Drive, Wantirna, a fully renovated house in the coveted Templeton Primary School zone.

SOLD- 38 Alderford Drive, Wantirna

The property found new owners with a $1.392 million final bid, which was well above the $950,000-$1.15 million price guide.

A short time later, several buyers who missed out went along to the auction of 86 Alderford Drive, which was owned by the Salvation Army.

SOLD- 86 Alderford Drive, Wantirna

“These bidders were keen to purchase 86 Alderford Drive, though it was unrenovated,” Mr Hodge said.

The keen contest among five bidders took the auction to a $1.375 million result.

This gave the seller a $325,000 premium over the $1.05 reserve price of $1.05 million.

“We are seeing standout results from many auctions, especially those of homes in good locations,” Mr Hodge said.

Real estate & property news
19 June 2024
Save Article

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