On the other side of the city in Glen Waverley, a four-bedroom family home sold for $1.64 million – $100,000 above the top end of the $1.4 million to $1.54 million.
Four bidders competed for 24 Glen Tower Drive, which had red feature walls.
Bidding opened online, with an offer of $1.35 million, and the home was called “on the market” at $1.56 million. The eventual buyer, a local family, then started to bid, fighting it out with the underbidder to the end.
Biggin & Scott Glen Waverley director Ming Xu said the vendors had owned the property for 16 years and wanted to make a sea change.
“It went very well,” Xu said. “It was good to have the hybrid auction so that bidders who couldn’t be at the auction on grand final day still got to bid.”
In Coburg, a renovated two-bedroom home with a study sold for $1.032 million, above the $900,000 to $990,000 price range.
Five bidders competed for fully renovated home at 46 Sheffield Street, which the vendors had owned for 11 years.
Ray White Coburg agent and auctioneer Raphael Calik-Houston said the auction opened with a vendor bid of $900,000 before the competition began. A young couple from Carlton were the winning bidders.
The property drew strong interest as it was one of very few auctions in the area.
“There was a monster crowd there, close to 70 people showed up,” Calik-Houston said. “Next Saturday there will be five auctions at 11am and [buyers] will be spread out between them.”
While some homes were kicking goals on grand final weekend, not everything sold.
A three-bedroom California bungalow at 15 Victoria Street, Flemington, passed in on a single vendor bid of $1.08 million. The property had a $1.08 million to $1.18 million guide and post auction negotiations were underway.
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Nelson Alexander Keilor East’s Patrick Phu said young couples, builders and investors had been interested, and some were looking to make offers.
“There were 20-odd people at the auction which was good considering it is a long weekend,” Phu said.
The home was built in the 1920s and in need of a renovation. The sellers, who had owned it for the 30 years, plan to downsize.
Another three-bedroom townhouse at 21 Woodland Drive, Cheltenham also passed in on a single vendor bid of $800,000. The property had a price range of $800,000 to $850,000.
Ray White Cheltenham agent and auctioneer Angela Limanis said some interested first home buyers had wanted to make an offer subject to finance.
Rising interest rates had made them nervous about making unconditional bids at auction, she said.
“They’re getting advice from [mortgage] brokers and family and all sorts of people about what to do,” she said. “It’s just the market at the moment.”
