‘Fierce with her bidding’: Interstate buyer beats four first-timers to buy Kingsville house

A professional relocating from Sydney beat out four first home buyers to secure the keys to a renovated two-bedroom Kingsville home for $910,000 at auction on Saturday.

The house at 16 Chatfield Street had a quoted price range of $740,000 to $810,000 and a reserve set at the top of the range.

SOLD - $910,000

16 Chatfield Street, Kingsville VIC 3012

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Jas Stephens selling agent John Galea said the property was built in 1994 by the seller and had since then been “beautifully renovated with high-quality finishings normally seen in properties of a higher price point”.

“It had engineered floorboards and a beautifully appointed kitchen, with lots of storage,” he said.

The auction took place in front of a 40-strong crowd, most of whom were the four first home buyer bidders and their families.

Bidding started at $740,000 and the price quickly rose by $20,000 increments to $860,000, but broke into smaller bids from there.

“The ultimate underbidder, a first home buyer, had his dad bid on his behalf because he was too nervous,” said Galea.

“The lady who bought it was fierce with her bidding,” he added.

“She had sold her apartment in Sydney and was looking for her first standalone home and had missed out on another last weekend, so she really wanted it.”

The property was one of 1762 scheduled to go to auction in Melbourne last week. By evening, Domain Group recorded a preliminary auction clearance rate of 67.2 per cent from 1249 reported results throughout the week, while 134 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.

SOLD - $1,300,000

10 Hoadley Avenue, Frankston South VIC 3199

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In Frankston South, a four-bedroom home in a blue-chip neighbourhood and within walking distance of the beach sold for $1.3 million – $250,000 more than its $1.05 million reserve.

The house at 10 Hoadley Avenue had a quoted price range of $950,000 to $1,045,000.

Six competed for the house, which was in the Frankston High School zone, Ray White Frankston selling agent Ashley Weston said.

“We had good numbers through the property with lots of interested parties,” he said.

“While it’s not a substantial home, it’s turnkey and the street was a big drawcard. Its outlook onto the bay and city views also attracted interest.”

Bidding opened at $990,000, Weston said. “It went up quickly in $30,000 and $20,000 increments, quickly passing the reserve.”

The auction attracted an interstate investor who was bidding online, retirees looking to downsize, young couples and young families. “Empty-nesters bought it in the end,” said Weston.

“They are from Berwick and are looking to rent it out as an investment for a couple of years, possibly renovate it, and then move into it. Their daughter lives around the corner.”

The underbidder was an investor from Sydney.

In Ferntree Gully, a generously sized three-bedroom house on a 723-square-metre block sold under the hammer for $1,117,000.

The home at 22 Lynn Drive had a quoted price range of $899,000 to $988,000 and the reserve was set at the top of the range.

Ray White Ferntree Gully listing agent Jack Rickard said six people bid for the home.

SOLD - $1,117,000

22 Lynn Drive, Ferntree Gully VIC 3156

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“It was a great auction, there were 35 bids in total, and it kicked off at $1 million,” he said.

Rickard said there was “a bit of a mix of bidders”, including an upsizer, a first home buyer and an investor.

“In the end, it was a young family upgrading from a unit who won the keys today,” Rickard said.

Rickard said about 80 groups of buyers inspected the property in the lead-up to the auction, and some made offers ahead of Saturday.

“The property was presented really well,” he said, and “the fact that it was turnkey was also a drawcard.”

“It wasn’t fully renovated, but it had been upgraded with a renovated bathroom, and some areas were converted,” he said.

The sellers were looking to upsize and were thrilled with the result, Rickard said.

LJ Hooker head of research, economics and business intelligence Mathew Tiller, said the weekend’s results were “a bit softer result than what we’ve seen over the past few months.

“The rise in the number of auctions and listings, as well as the front-loading before the Melbourne Cup long weekend next weekend, has contributed to this,” he said.

Tiller said buyer demand has lifted, and confidence in the market will remain despite dwindling hopes for another Reserve Bank rate cut this year.

“Buyer demand will remain consistent regardless, but if there is another cut, it will receive even more of a bump.”