Inner-west Victorian house sells for $945,000 after auction

A double-fronted Victorian house in Seddon has sold for $945,000 in post-auction negotiations, after passing in at $860,000 on Saturday morning.

The three-bedroom, one-bathroom home at 215 Buckley Street had been listed with a price guide of $890,000 to $950,000, with the reserve set at $945,000.

$890,000 - $950,000

215 Buckley Street, Seddon VIC 3011

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Walking distance from cafes, shops and the train station, the property is also zoned for Footscray Primary and Footscray High schools.

The property was one of 1122 scheduled to go to auction in Melbourne this week. By evening, Domain Group recorded a preliminary auction clearance rate of 72.7 per cent from 802 reported results throughout the week, while 78 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.

Elise Nemer from Jas Stephens Real Estate said the auction opened with a vendor’s bid of $850,000, followed by a single bid of $860,000 from the eventual buyer, a woman who had inspected the property four times.

Nemer said while a first home buyer had also registered to bid, they couldn’t get finance in time to bid at auction.

“It’s happened to me twice today [at auction] – people are keen out there, but they can’t even bid because of the finance clause,” she said.

Nemer said buyers were sitting on the fence, wanting to see what other properties were coming on the market before committing.

“There’s a lot of mixed emotions – buyers don’t want to just rush into things,” she added.

In the north, a red-brick home in Preston sold for $890,000 at auction to a local first home buyer who beat out a young family.

The three-bedroom, one-bathroom unit at 2/20 Bartlett Street had a price guide between $760,000 and $820,000. The reserve was set at $830,000.

$760,000 - $820,000

2/20 Bartlett Street, Preston VIC 3072

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There is no legal requirement for a vendor’s reserve to be in line with their property’s price guide.

The auction drew two bidders and a big crowd, with bidding opening at $790,000 from a young family who ultimately lost. The buyer, a young woman living in the area and purchasing her first home, was accompanied by her father.

The auction was over in 15 minutes.

John Pasceri from Hockingstuart Epping said it was a “fantastic result” for the “rare” California bungalow-style home.

“[The buyer] fell in love with the period nature of the property and its spaces, and the fact that it has north- and south-facing orientation, which made it airy and bright and beautiful,” Pasceri said.

He said interest during the campaign came from a mix of first home buyers, downsizers and investors.

“The three bedrooms really did appeal to investors because of the yield, and downsizers liked that it was a single-level unit.”

Pasceri said Preston continued to be one of the north’s most sought-after areas.

“It’s such an evolving suburb. It’s so accessible to everything, public transport, shops, eateries, it’s really becoming a bit of a buzz.”

A warehouse-style home in Albert Park sold for $1,622,000 at auction on Saturday, after competition between three bidders.

The two-bedroom, two-bathroom house at 3 Little Withers Street had a price guide of $1.45 million to $1.55 million, with a reserve of $1.6 million.

$1,450,000 - $1,550,000

3 Little Withers Street, Albert Park VIC 3206

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A vendor bid opened proceedings before a young couple moving from Hawthorn secured the keys, beating the downsizing underbidders and an interstate buyer.

David Wood from Belle Property Albert Park said the home’s double garage and prime location made it desirable.

“It’s only about 500 metres from the Albert Park village, which is probably one of the better villages in the area, or in Melbourne … there’s a lot of people that really want to buy and live close to it,” he said.

The auction reflected steady demand, Wood added.

“It’s probably representative of the market today. To have three people bidding I think was a good result … the market’s really just cautiously optimistic. People are not going crazy, and the fear of missing out is not necessarily there.”

In Melbourne’s inner-east, an apartment sold for $775,000 at auction after a war between five bidders.

The two-bedroom home at 703/32 Bosisto Street, Richmond, had a price guide of $680,000 to $710,000, with a reserve of $710,000.

SOLD - $775,000

703/32 Bosisto Street, Richmond VIC 3121

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Bidding opened slowly with a vendor bid of $650,000 before slowly taking off.

The winning bidder was a single first home buyer who recently moved back from New Zealand and works nearby; while the direct underbidder was a first home buyer with parents bidding on their behalf.

Luke Saville from The Agency Victoria said the apartment stood out for its space and design.

“It blended the best of both worlds. It’s a newer built apartment, but it’s got the proportions of something that you sort of expect from an older apartment,” he said.“It’s just bigger, like the rooms are not boxy, little shoebox kind of bedrooms.”

With Caroline Zielinski