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Three-minute auctions net lucrative returns in Bayswater North and Boronia

Real estate & property news
19 June 2024
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Winter is a great time to sell as there are fewer listings and less competition

Two absent buyers have snapped up homes at quick-fire auctions in the city’s outer-east suburbs.

A bidder took just three minutes to buy 1B Retford Close, Bayswater North, on behalf of her sister, Barry Plant Boronia auctioneer Mark Hughes said.


“We had 10 buyers registered to bid, three put up their hands, and two fought it out,” he said.

“It was over in three minutes and was one of the fastest auctions we have seen.”

Bidding for the new unit opened at a strong $650,000 and shot past the $660,000 reserve price to land at $752,000 soon after. There were just 14 bids made for the property to fetch an auction windfall of $92,000 for the seller on June 15.

“The property was a unique offering as it was brand new, had a street-front position in a court, and was priced fairly,” Mr Hughes said.

“There were 45 groups at the inspections and everyone who came liked it.”

The unit, with a single bathroom and a garage, features a large living and dining zone plus a hostess kitchen with stone benchtops.

Later the same day, two bidders also took just three minutes before a buyer’s advocate won the keys to 15 Beresford Drive, Boronia.


Bidding opened at $900,000 and 18 bids later ended at $1.1 million to give the long-time owners a massive $110,000 above the reserve price.

“The couple owned the home for 40 years and maintained it exceptionally, and were in tears when it sold,” Mr Hughes said.

“They were sad to see the family home go but happy with the price.”

The buyer’s advocate was acting for a young couple that was living outside the area. The five-bedroom house on 713sq m did not attract much interest until midway through the campaign.

On the market performance so far this winter, Mr Hughes described it as “inconsistent due to the low supply of stock and price-sensitive buyers”.

“There are still good buyers out there but the market is sensitive to prices now,” he said.

“It is a good time to sell because of the lack of supply.”

If you're thinking about selling, talk to Barry Plant today.

Real estate & property news
19 June 2024
Save Article

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