Renter beats three others to pay $1.65m for large Maribyrnong family home
A renter paid $1.65 million to buy a Maribyrnong family home in the same neighbourhood as their rental at auction on Saturday.
The four-bedroom house at 17 Shearwater Crescent had an expansive floor plan, two living areas and a media room, and was across the street from a park. Buxton selling agent Nancy Yang listed the home for sale with a quoted price range of $1.4 million to $1.5 million.
Yang said the four bidders were all families from the area, though one planned to use the home as an investment before moving in later.
“The campaign went super well, we had a lot of local families who either lived in the neighbourhood or were coming from nearby suburbs,” she said.
“Many were looking to upsize so we saw a lot of kids come through that campaign.”
Bidding began at $1.38 million and the reserve was set at $1.46 million. The sale price was pushed $190,000 past the reserve during the auction, after more than two dozen bids were placed.
“It was almost going in ebbs and flows, but it was good overall, and we thought the energy was very good,” Yang said.
She said the winning bidder was a renter from the neighbourhood who had been recently evicted, and would move their family into the home.
The property was one of 752 scheduled to go to auction in Melbourne this week. By evening, Domain Group recorded a preliminary auction clearance rate of 75.8 per cent from 557 reported results throughout the week, while 44 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
In Aberfeldie, a four-bedroom home on a 1271 square metre block could soon be demolished after it sold for $3.3 million in post-auction negotiations.
The house at 62 Brunel Street had been an investment property and was in good condition. Jas Stephens selling agent and auctioneer Tate Moore listed the property for sale with a quoted price range of $3.1 million to $3.4 million.
He said two bid for the home, and both planned to build a large home on land.
“I thought there would be more interest from the developer market, but that segment of the market has gone quiet based on the price of construction at the moment,” Moore said. “All the interest came from home owners who wanted to build one single dwelling on it and have their forever home.”
Bidding opened at $3.2 million and the home passed in at $3,276,000. It sold to the highest bidder for the vendors’ reserve price of $3.3 million.
In North Melbourne, two young couples battled over a workshop conversion. The winner paid $1.06 million to call the unit home.
The two-bedroom apartment at 6/8 Falshaws Lane had previously been part of Fallshaw’s workshop, where pool tables were made in the 1800s. The building featured bluestone exteriors and had exposed brick walls inside.
Jellis Craig selling agent Trevor Gange listed the home for sale with a quoted price range of $850,000 to $930,000. He said the two bidders liked the block’s boutique feel.
“It was very unique real estate, it was one of nine, and it was three per level,” he said. “The size, the uniqueness, the brilliant position and north-facing rear orientation: it ticked a lot of boxes.”
The auction began on a vendor bid at the bottom of the range. The reserve was set at $925,000.
“The auction was ferocious, it was competitively fought out with two people buying,” Gange said. “It was all over in a couple of minutes.”
He said the winning bidders had researched the building and were keen on joining its community.
In Sydenham, a three-bedroom house sold for $128,500 more than its reserve in another competitive auction.
The three-bedroom house at 22 Stagecoach Crescent featured cathedral ceilings and a large, covered outdoor entertaining area. Sweeney selling agent Adrian Sposato listed it for sale with a quoted price range of $690,000 to $740,000.
“It had that charm, and it was a double-brick house so it was very solid,” he said.
Sposato said of the five bidders, two fought the hardest for the home. “There was one first home buyer who just really wanted it. He was going back and forth. It was like tennis: boom, boom, boom,” he said.
“It came down to $1000 bids and $500 bids throughout. It was a good vibe, it was very fast-paced and rushed, everyone was involved, and they cheered at the end.”
The house sold for $908,500 to the first home buyer. Sposato said the reserve was set at $780,000. There is no legal requirement for a vendor’s reserve to be in line with their property’s price guide.
Sposato said the vendors were happy with the sale. “There were tears of joy, it was amazing.”
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