Real Estate

early positives for 1600 plus auction melbourne market test

Written by The ReReport

4 Moule Ave, Brighton goes under the hammer on one of the busiest auction days in Melbourne this year.

THE second biggest auction weekend of 2018 could be set for a more positive spin than recent weeks.
Despite last week ending with a 46 per cent clearance rate, there are already positive signs ahead of this week’s bumper crop of more than 1600 properties headed under the hammer.

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It’s a bumper weekend with just a few hundred expected for sale during the pseudo-long weekend for the Melbourne Cup on November 6.
And those going to auction this weekend can take heart from an early success story.
At 7pm Wednesday night, four bidders turned out for a twilight auction at 10 Kirkwood St, Beaumaris.

10 Kirkwood St, Beaumaris10 Kirkwood St, Beaumaris sold for $1.49 million in a twilight auction on Wednesday.

OBrien Mentone’s Byron Kerr said it had been a good result, and built a degree of confidence ahead of a busy weekend when they would take 10 further homes to auction.
“It was a chance to get ahead of the weekend activity,” Mr Kerr said.
“You can attract the majority of the market that’s out there at a time when it’s first in best dressed.”
The four families who turned up on the night pushed the home from a $1.3 million vendor bid to $1.49 million.
The weatherboard home’s character and period features captured some of the attention, while a location in the catchment for Royal Melbourne golf course access — as well as local school zones — had helped convince others.

10 Kirkwood St, BeaumarisA series of bright interiors suit the homes bayside suburban location.

The successful buyer was bidding while her husband was in Hong Kong.
A handful of particularly soft regions in the city’s south east and inner east had dragged down the average, according to CoreLogic Australian head of real estate Geoff White.
“You can see that some of the regions, four of the nine, have had clearance rates over 50 per cent,” Mr White said.

Coastal areas along the Mornington Peninsula had done particularly well — hitting 62 per cent last week.
“While we are focusing on the percentage for Melbourne, if we drill down to the regions you start to see it’s a very patchy market,” Mr White said.
“It all depends on the quality of the stock and the level of demand in that area.”

10 Kirkwood St, BeaumarisThe home’s outdoor entertainment space also appealed to buyers.

For the weekend to come, Nick Johnstone Real Estate’s Nick Johnstone is expecting interest for a more than $5 million home in Brighton.
While the result would be determined on the day, the six-bedroom house a block from the beach had a lot going for it, Mr Johnstone said.

4 Moule Ave, BrightonThe auction is likely to be staged in the striking home’s impressive backyard.

Location, as well as nearby schools, had put 4 Moule Ave on the radar with a handful of local and international families.
A mainland China database run by the firm gave him added confidence in a result that could prove the biggest sale of the weekend — with the home listed for $5-$5.2 million.
“We think there’s a bit of interest,” he said.
“It’s on one of Brighton’s premium streets, it’s a very liveable home and you can be on Brighton Beach very quickly.”

4 Moule Ave, BrightonThe main bedroom offers extensive space to relax in.

A pool set behind the French Provincial-style house had also been noted amid some of the recent warmer weather.
“Spring has arrived and we have found buyer inquiry has gone through the roof in the last two weeks,” he said.
“I think that has a lot to do with us being a beachside location. Once the days start getting longer, people start to look more closely.”

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