Chat with us, powered by LiveChatSummer auctions close with a bang

Summer auctions close with a bang

Multiple bidders deliver strong prices to vendors in Super Saturday auctions

Melbourne’s summer auctions have ended strongly, with several Barry Plant offices scoring perfect clearance rates.

The Barry Plant network had a strong overall clearance of 85 per cent from 60 auctions for the last weekend in February.

A combined $605,000 over the reserve prices, from seven out of eight auctions, was reported by Barry Plant Moonee Valley.

An investor defeated four bidders to win the keys to a three-bedroom, mid-century house at17 Pridham St, Maribyrnong. After 90 bids, the buyer secured the keys for $1.406 million, a whopping $256,000 above what the vendor expected.

The home had been in the same family for over 56 years since it was built, according to Barry Plant Moonee Valley auctioneer Paul Filippone.

“Everything inside the home is near original and has been so well maintained,” Mr Filippone said.

“It was strongly contested by mostly investors and one first-home buyer, with the 697sq m footprint and location adding to its allure.”

A four-bedroom, double-brick home, nestled on 687sq m at 21 Spence St, Keilor Park, with a $740,000 - $790,000 price guide, opened with a $900,000 opening bid. The competitive auction resulted in an impressive sale $170,000 above the reserve for an undisclosed amount.

In Heathmont, a four-bedroom, art deco house on a 698sq m block at179 Canterbury Rd, was snapped up before auction by a young family. Their seven-month search for a home came to an end when they splurged $1.34 million on the property, a huge $296,000 above the reserve.

Meanwhile, three out of three auctions by Barry Plant Taylors Lakes sold above expectations, each averaging more than five bidders.

A renovated three-bedroom house at38 Munich Dr, Keilor Downs, went “gangbusters”, according to Barry Plant Taylors Lakes director James Hatzimoisis.

“It’s a great property that drew a lot of interest, 200 inspections, well over 100 people in attendance and nine bidders fighting it out for the keys,” Mr Hatzimoisis said.

The home sold for $753,000 to a second home-buyer “keen on the garage”, a healthy $103,000 above its reserve.

A downsizer scored the keys to a four-bedroom house at23 Cormistom Rd, Ringwood North, which started with a $900,000 opening bid and soared $85,000 past its reserve, to secure $1.005 million for the vendors.

Similar properties were selling around the high $800,000 mark just late last year, according to Barry Plant auctioneer Jay Carroll.

“We had really strong competition for the property, with five bidders fighting it out,” Mr Carrol said.

“It’s a really nice pocket of Ringwood North, with very good family homes.”