Price records tumble as cold fails to dampen heated auctions
Sellers rein in huge bonuses as demand drives up sale prices
Despite the inclement weather, sterling results achieved at two auctions in Croydon and Wantirna South have set new suburb price records.
They were among 57 successful sales from 66 auctions by Barry Plant agents for the week ending May 6, with another strong clearance rate of 86 per cent reported.
A renovated and extended home at 7 Yallambee Way, Croydon, soared $330,000 beyond the seller’s reserve at an action-packed contest on May 6.
Seven bidders turned up, including a buyer from Queensland who was looking to relocate. They kicked off the bidding at $1 million, which was the reserve price.
“The property was attractive because of the high-end, quality finishes and good location,” Barry Plant Croydon auctioneer Sarah Savio said.
The charming three-bedroom weatherboard home, which fetched $1.33 million, belonged to a couple who bought it in 2015 and raised two children there.
“It is a record price for a house in Croydon under 1000sq m,” Ms Savio said.
“We expected a strong result as there is no shortage of buyers for quality homes in the suburb, and there were more than 130 groups at the inspections.”
Over at 4 Dayan Drive, Wantirna South, a crowd of 80 people crammed inside the house to witness 10 bidders battle it out on the cold and wet Saturday afternoon.
Bidding rose quickly past the $1.425 million seller’s reserve and ended at $1.717 million, which was a record for a single-level house under 1000sq m in the suburb, Barry Plant Wantirna agent Dean Kehagias said.
“The house had plenty of interest because it was on a single level with multiple living zones, renovated, and on a large block in the coveted Cathies Lane estate.”
Barry Plant Wantirna scored a 100 percent clearance rate from five auctions, with four properties sold on May 6 and one prior.
Barry Plant Glen Waverley agent Kathleen Kuang also achieved an outstanding result with the sale of 1 Yanina Court, Glen Waverley, for $2.62 million.
More than 130 groups attended the inspections, and six bidders were keen to land the keys to the five-bedroom house, which offers spectacular views to the Dandenong Ranges.
The result for the 38-year-old home gave the sellers a whopping $220,000 premium beyond their reserve price.
“The large block size and views were the main drawcards,” Ms Kuang said. “And more than 100 people turned up for the auction.”
She noted that buyer demand in Glen Waverley was “still very strong”.