The waterfront 8 River Reserve Road, Aireys Inlet, was auctioned over the Easter long weekend. Photo: SuppliedAll is quiet on the home front of Melbourne’s auction market this weekend.
But the Easter Bunny came early for the very small number of metropolitan vendors – just nine – who listed on Saturday.
On the back of a record-busting autumn Saturday last week, only five properties were sold under the hammer in metro Melbourne, according to results reported to the Domain Group.
The dip in numbers was extreme – last weekend almost 1400 properties were auctioned in a hot early year of the market.
But at least one vendor’s gamble, listing on a low-key weekend that was not flush with choices for buyers, paid off handsomely.
At 142 Junction Road in Nunawading, a humble four-bedroom home drew a crowd of 200 onlookers and eight bidders, whose battle pushed the price to $220,000 over reserve.
A developer paid $920,000 for the brick property, which was built in about 1980.
Harcourts agent Archie Mantsos said its development potential was a major drawcard.
In Mill Park, two bidders duelled for a pretty four-bedroom brick house at 7 Nervern Court, with a backyard pool and outdoor wood pizza oven, in a quiet cul-de-sac.
The winning bidder rewarded Ray White auctioneer Andrew Mizzi for clocking on, when most of other agents were at the pub or poolside, by paying $560,000.
Some regional agents took advantage of sunchasers flocking to the coast over the four-day break.
At Golden Beach in Gippsland in eastern Victoria, agent and auctioneer Laurie Keady has no trouble offloading a no-frills Cape Cod style home with enviable foreshore access.
“It’s a wonderful day – who wouldn’t want to buy down by the beach?” Ms Keady said.
“We are a tiny village but there was a good roll-up [for the auction].”
An onlooker said the four bedroom home at 74 Shoreline Drive was knocked down for $210,000.
Marty Maher, from Great Ocean Properties, was another coastal agent whose holiday was also on hold.
He auctioned a modern tri-level home overlooking the river at Aireys Inlet.
However, no buyer would take the chocolates: it was passed in on a vendor bid of $950,000 – but post-auction negotiations with a prospective buyer were soon underway.
Mr Maher said there were strong attendances at open for inspections along the west coast, buoyed by the influx of holidaymakers from the city.
“We are at absolute peak down here so we have been very busy,” Mr Maher said.
“Easter here is the reverse of Melbourne – everyone is down here.”
Proceedings will pick up again next weekend, with 546 Melbourne auctions scheduled.
This story Administrator ready to work first appeared on Nanjing Night Net.