Real Estate

Auctions to heat up as Knox buyers turn up

Auctions to heat up as Knox buyers turn up
Written by The ReReport
As seen in the Source link, written by on 2019-05-21 17:26:15

Auctions are being ramped up across Knox suburbs, with signs pointing to growing buyer confidence.

Sales normally slow as the market heads towards the winter months and sellers hold back for the spring market.

But agents have seen a rise in numbers at inspections, and also multiple buyers and bidders at auctions and private sale listings, in recent weeks.

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The stylish kitchen at 11 Sykes Ave, Ferntree Gully.

Room for children and pets to run and play.

Ray White Ferntree Gully already has 30 properties throughout Knox suburbs ready for auction next month, according to agent Lar Potimoy.

There will also be 14 auctions held in the City of Knox this coming Saturday, May 25.

Ms Potimoy noted more buyers were out inspecting homes and bidding at auctions.

Barry Plant Wantirna sales manager Daniel Cripps had noticed inspections numbers at the agency’s properties had risen sharply since late last year.

“We might have had two or three groups of buyers at inspections late last year but are now getting 10 to 12 groups at each open,” he said.

“We see more bidders at auctions and buyers more confident and able to access financing which was a major problem.”

Buyers able to make unconditional offers for properties was also resulting in more sales, Mr Cripps said.

The polished interiors at 11 Sykes Ave.

It comes with a perfect spot.

In Ferntree Gully, 11 Sykes Ave attracted a crowd of more than 70 people with five bidders on polling day.

The auction gave the vendors an $850,000 result — $40,000 above their reserve price.

“It showed there are still buyers looking and ready to purchase and many are missing out,” Ms Potimoy said.

All the bidders were family buyers with two being represented by buyer’s advocates, she added. A Rowville family won the keys and will be upgrading to the well-presented house.

Bidding opened at $680,000 bid and rose strongly.

“It went very quickly and several buyers missed out,” Ms Potimoy said. “It shows the market is still moving well with many buyers around.”

The charming three-bedroom house on 843sq m had a $760,000-$820,000 price guide but ended up selling well above expectations.

The vendor paid $410,000 for the home in 2012 and transformed it with a makeover. They had planned to live in the fully renovated property but had a change of plans.

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