Auction results continue to exceed expectations

The first of this week’s auctions involved a character-filled two-bedroom timber cottage that had a great deal to offer buyers looking for a renovation project or even potentially a site to build a new home. One of the key assets of 17 Raymond Street in Preston West was the location and it offered easy access to the Merri Creek trails, parklands, schools plus the trams on Gilbert Road and Nicholson Street. Most of the interest came from first home buyers, who pushed the bidding to a very substantial $722,000.

The auction that really got people talking, however, took place at 1/28 Jacka Street in Preston (pictured), a well-presented if unremarkable two-bedroom villa unit. Once again, location was a big factor here, as it was within easy walking distance of the trams on Gilbert Road, the shops on Coburg Hill, Newlands Primary School and more.

Strong interest from a mix of investors and first home buyers resulted in a big crowd attending the auction and fourteen registered bidders, (yes you read that correctly), who pushed the price more than 30% above our ecstatic vendor’s reserve before a knock-out bid of $660,000 sealed the deal.

Make no mistake, if you are planning on selling in Melbourne’s inner-north in 2019, the current market conditions are providing an exceptional opportunity for astute property sellers. Auction results like those above are clear evidence of this. So if you’d like a confidential chat on how to maximise your own sale price, don’t hesitate to give us a call this week.