Sellers in Melbourne’s north-eastern and western suburbs reaped stellar rewards on one of the city’s busiest auction weekends.
Barry Plant North Eastern Group sold 16 of the 17 properties up for auction on March 27, according to director, David Moxon.
“This is the strongest March market I’ve seen in more than 30 years in real estate,” Mr Moxon said.
In Watsonia, an established property with development potential at 15 Grace Street was snapped up by an investor for $1.15 million.
“We were surprised to get over $1.1 million, this was an outstanding sale,” Mr Moxon said.
Six bidders who were mainly locals battled for the property in an action-packed auction.
“Bidding was aggressive towards the end with two fresh bidders coming in at $1 million,” Mr Moxon said.
“It is a good-size block in arguably the best street in Watsonia, near the shops and station.”
In Mill Park, six bidders competed for a four-bedroom house at 6 Bugatti Court. A family paid in excess of $1 million for the 30-year-old home.
“This phenomenal sale set a new benchmark price for this type of home in the area,” auctioneer Jay Moxon said.
The property attracted more than 120 inspections because of its quality, flexible floorplan and prime location.
Also in Mill Park, a total of seven first-home buyers and investors contested a three-bedroom house at 89 Mill Park Drive, which sold for $710,000, well above what the seller was expecting.
“While it needed some work, the buyer saw potential in the home that is in a great location,” Mr Moxon said.
In Melbourne’s west, Barry Plant Sunshine sold 10 out of 10 properties up for auction on March 27, from Ardeer to Maribyrnong.
They included a three-bedroom house at 39 Sunhill Crescent, Ardeer, which was snapped up for $645,000.
An investor outbid three first-home buyers and paid significantly above the owners’ expectations for the excellent entry-level offering, according to director Jason Allen.
“This property sold well in the heat of the moment because the buyer saw its value and just kept bidding,” Mr Allen said.
In Braybrook, first-home buyers from the eastern suburbs wanting to live closer to family outbid four others to win the keys to an established two-bedroom villa at 34 Cremorne Street.
The young buyers splashed $600,000 on the home.
In Maidstone, two investors went head to head in the battle for a development opportunity at 180 Ballarat Road.
Priced at $960,000-$1.045 million, the three-bedroom house on an 846sq m block sold the night before the auction for $1.1 million, according to Mr Allen.
Barry Plant Sunshine has recorded 38 sales so far in March with a few more to come in the next few days, Mr Allen said.
“This has been a record month for sales and listings, and we expect the coming months to be as robust,” he said.