Winter auctions conclude with 100pc record intact

The last of our Winter auctions for 2019 involved a potential-packed three-bedroom period home at 19 Jessie Street, Preston.

For those buyers interested in renovation, the home was dotted with period details including high ceilings, timber fretwork, rosettes, coloured glass and deep cornices. However, the land component of this property attracted equally strong interest. Totalling around 576sqm of land, the property enjoyed frontage to both Jessie and Wallace Streets, with additional frontage to a rear right-of-way as well, so it was no surprise to see several builders and developers paying attention as well. An added bonus was the potential that some buyers mentioned for city views if they built upwards.

Of course, no matter what the final plans may have been, every buyer found appeal in the location. Popular HP Zwar Reserve was just a few doors away down the street, whilst trams, schools and cosmopolitan High Street were all easily accessed.

As you can see from the photo above, the auction drew a large crowd who watched with interest as four main bidders competed with spirit. A slight pause in bidding enabled auctioneer, Jim Dimitropoulos, to declare the property ‘on the market’ at just over $1.1 million, but the bidding continued above the $1.2 million mark, ensuring our happy vendors enjoyed a sale that exceeded their expectations by close to 10%.

So now that the Winter auctions are over and done with for 2019, it’s time for local homeowners to get busy if they want to make the most of the Spring market. If you would like any advice or assistance, you can give our tam a call this week.