3 months ago
16
Soaked bidders wasted no time when fighting over a Northcote townhouse in Saturday’s rain as three families pushed the price to $1.63 million within minutes.
The three-bedroom home at 22A Mitchell Street had three bathrooms and was on its own title. Nelson Alexander selling agent Roland Paterson listed the home for sale with a quoted price range of $1.3 million to $1.4 million.
“The house was in excellent condition, and it just shows there’s a strong appetite for low-maintenance homes,” he said. “It’s a single modern home in a group of three, with no owners’ corporation. It had a generous rear courtyard and off-street parking.”
The auction began with a bid of $1.31 million; Paterson said the reserve was set at the top of the range.
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He said poor weather pushed the buyers to bid fast and hard. “It was short and sweet because of the rain, it was all over in about three minutes. Pouring with rain, it was a bit of fun.”
Paterson said all bidders were looking to live in the home, and the winning buyers were a young couple who had help bidding from an older family member.
It was one of 1385 auctions scheduled for Saturday in Melbourne, a so-called “super Saturday”.
In Carlton North, a two-level Victorian terrace passed in after receiving no genuine bids.
The four-bedroom house at 603 Station Street was previously a rental. Jellis Craig selling agent Nicholas Corby listed the home for sale with a quoted price range of $1.7 million to $1.8 million.
“[It] was in perfectly good, clean, liveable condition with the option to add more value and more accommodation, in a good street,” he said.
Corby said he expected two other buyers to bid at the auction, but neither did. The single bid was a vendor bid at the bottom of the range.
A deal wasn’t reached in post-auction negotiations, and the home was for sale with a single price of $1,795,000, Corby said. It was also the vendor’s reserve.
“I think there’s a few following the same pattern at the moment, where they’ve passed in and sold afterwards,” he said.
“I feel interest rates pretty much drive the market, and because now there is no hope of any cut soon … [new buyers are] still trying to figure out where they sit in the market and what they can pay, so there’s a bit of hesitation.”
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