Real Estate

Auctions to heat up after election weekend

Auctions to heat up after election weekend
Written by The ReReport
As seen in the Source link, written by on 2019-05-24 15:41:26

4 Glen Rd, Ashburton has a price guide of $1.9-$2 million.

After a quiet election weekend with only 432 auctions held in Melbourne, that number has more than doubled to 909 across the city, according to CoreLogic.

Here are some of the homes in Melbourne’s east that are expected to do well under the hammer on May 25.

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51 Park Lane, Mt Waverley

No. 51 Park Lane goes under the hammer for $1.3-$1.43 million.

The home is in the Mt Waverley Secondary College zone.

A three-bedroom home at 51 Park Lane goes to auction at 12pm with a price guide of $1.3-$1.43 million.

Barry Plant Mt Waverley director Mario Munafo said there had been a solid response from a variety of different buyers.

“All walks of life have certainly been drawn to the property,” Mr Munafo said.

“There’s buyers who’ve seen the potential to renovate the original homestead, as well as location buyers, as well as family buyers looking at building their dream home, plus investors that are forecasting a development opportunity in the future.”

About 60 groups have been through the house ahead of the auction, with three bidders expected to attend the home, which is close to schools, shops and public transport.

9 Margate Cres, Glen Waverley

9 Margate Cres is listed with a price guide of $1-$1.1 million.

The Glen Waverley home is going under the hammer at 11am.

Almost 100 groups have been through the home.

Another three-bedroom home at 9 Margate Cres is listed with a price guide of $1-$1.1 million.

Heading under the hammer at 10:30am, the property had been popular online and in open for inspections, with 98 groups attending, Ray White Glen Waverley agent Darryl Wickham said.

“All the ingredients are there for a good auction,” Mr Wickham said.

He said he anticipated more certainty in the market after the surprise Liberal victory in the federal election, but it would be “business as usual” in the short term.

4 Glen Rd, Ashburton

No. 4 Glen Rd was built by Bates Smart & McCutcheon in the 1940s.

The home has been attended by 36 groups ahead of going under the hammer.

Stacker doors open up the architecturally designed space.

A 1940s architecturally designed home backing on to Gardiners Creek trail goes under the hammer at 10am, with a price guide of $1.9-$2 million.

Jellis Craig agent David Macmillan said 36 buyers had been through 4 Glen Rd ahead of the auction, with a blend of buyers interested in the home’s architectural appeal and buyers hoping to renovate.

“It’s a bit of both — it’s a beautiful ‘40s home that’s been architecturally designed and will appeal to a lovely family, but it also has the opportunity to unfortunately come down and for someone to utilise that block of land. It’d be a shame but certainly there’s always that possibility,” Mr Macmillan said.

7 Glenwerri Court, Vermont South

7 Glenwerri Court is up for grabs for $1.08-$1.188 million.

The recently renovated home goes under the hammer at 11am on May 25.

A four-bedroom home at 7 Glenwerri Court with a price guide of $1.08-$1.188 million goes under the hammer at 11am.

Biggin & Scott director Ming Xu said the property’s court location and full renovation had appealed to the 60 groups that have seen the home.

“It’s also in that price range that buyers feel comfortable with,” Mr Xu said.

He said the surprise election result would likely create more confidence in the marketplace.

“We’re going to see the prices increase in the next few months’ time, as more buyers start taking action, not waiting anymore. This week is the first week after the election and there were certainly a few more inquiries coming in.”

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