Multiple bidders drive strong results for Lysterfield and Knoxfield listings

The auction of 71 Berrabri Drive, Scoresby, “went nuts and sailed $172,000 beyond the seller’s reserve price” on April 13, Barry Plant Wantirna director Daniel Cripps said.

“Five keen buyers, including an investor and a first-home buyer, turned up, and three bidders fought it out to the end,” he said.

“The property sold for $1.072 million with a reserve of $900,000.”

While the house had a good floorplan but needed updating, most buyers saw it as a safe purchase, including the new owners who were from nearby Glen Waverley, Mr Cripps added.

Sale records showed the vendors paid $275,000 for the 743sq m property in 2003.

Earlier in the week, Mr Cripps held a twilight auction at 10 Obeah Court, Lysterfield, which fetched $3,191,888.

The result was among the top auction sales for the week in Melbourne where nearly 800 auctions were scheduled. The week ending April 22 was expected to feature more than 1000 auctions.

The five-bedroom Lysterfield property on a sprawling 5000sq m went under the hammer at 6.30pm on April 11, and drew seven bidders.

“We suggested a midweek twilight auction so that there would not be any competing auctions and distractions for buyers,” Mr Cripps said.

“The attractive property attracted 120 groups at inspections, and all seven bidders were locals looking to upsize.”

The property had a $3-$3.3 million price guide and sold well above the reserve price of $3 million. The competitive bidders included the new owner who bid online while he was travelling.

Built by the vendors in 2009, the grand home in the prestigious Carrington Estate features 55-squares of living area and 11 parking spaces.

And a “true quarter-acre block” at 40 David Street, Knoxfield, drew four bidders on April 13 and sold for $1.08 million.

“Knoxfield is known for its 1000sq m blocks that appeal to buyers looking to raise a family and enjoy a large backyard,” Barry Plant Wantirna director Brendan Murphy said.

“The property attracted several quality buyers and sold above the $1.075 million reserve price.”

While the number of bidders per auction had dropped slightly and listings had increased, Mr Murphy noted that the market was still doing well.

“We listed 93 properties in the first quarter of 2024 and everything is still selling,” he said.

“More listings in the market means buyers are having more choice and some vendors are selling prior to auction if they get good offers.”