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Spring auctions make strong November start

Real estate & property news
15 November 2023
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Victoria’s Super Saturday auctions continued to deliver strong results for many sellers, including in Bundoora, Dingley Village and Mordialloc where top prices were reeled in under the hammer

While listing numbers have risen, supply is still well down on previous years and helping keep prices buoyant.

Several Barry Plant offices and agents scored 100 per cent auction clearance rates on November 11. The spring selling season kicked back into top gear after a lull for the Melbourne Cup holiday weekend.

More than 1100 homes were scheduled to go under the hammer for the week ending November 11, the seventh week of Super Saturdays with 1000-plus auctions.

Another 1539 auctions are set for the November 18 weekend, to be followed by another 1353 scheduled for the final week of November, according to PropTrack data.

In the city’s southeast, Barry Plant Mordialloc agent Jake Mabey auctioned three homes within three hours.

A long-held property at 19 St Marks Close, Dingley Village, pictured below, was the most competitive that day, with five families bidding. The 728sq m block on a tightly held street has direct access to a park.

It sold for $1.236 million to a former Dingley Village resident keen to return to the suburb. Mr Mabey called the property on the market at $1.13 million to give the seller a bonus of more than $100,000.

Three first-home buyers competed for 76 Howard Road, Dingley Village, and it sold above the $970,000 reserve for $1.001 million.

And a family outlasted two other families to gain the keys to 72 Barkly Street, Mordialloc, pictured below, after a winning bid of $1.48 million.

“Great prices are achieved when the homes are well presented well and priced to meet the market,” Mr Mabey said.

“There is still a lack of stock and there are buyers keen to get something before Christmas.”

In the city’s northeast, Barry Plant Bundoora and Mill Park agents found buyers at all seven auctions.

“The spring market has been really strong and homes in demand have attracted multiple bidders, and our clearance rate is around 90 per cent,” Barry Plant Bundoora auctioneer Michael Egan said.

Five bidders competed for 11 Carbine Place, Bundoora, pictured below, which sold for $1.405 million or $55,00 beyond the seller’s reserve.

“The family home is in an estate with high demand and is tightly held, and it sold to local upgraders,” Mr Egan said.

Nearby 1 Leahy Drive, pictured below drew three bidders and it sold for $1.665 million, which is among the top five sales in Bundoora for a single-storey house.

In the Monash suburb of Glen Waverley, six buyers seeking to knock down and rebuild on 13 The Outlook pushed the result to $2.221 million.

The dated four-bedroom house on 738sq m sold for well above the seller’s $1.7-$1.87 million price guide.

“All the buyers were keen to own the block and build a new home,” Barry Plant Glen Waverley agent Ryan Yan said.

The agency also had a perfect clearance for its four auctions on November 11.

Real estate & property news
15 November 2023
Save Article

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