A POSTMODERNIST-STYLE Blackburn house on the market for the first time has sold for $151,000 above reserve.
The 4 Leons Court property was the focus of a bidding war between three parties vying to own the original home.
It sold for $1.181 million after the October 13 auction stretched for 30 minutes and more than 70 bids. The property had a $1-$1.05 million price guide.
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The interiors of 4 Leons Court have largely remained the same since 1973.
The classic-style kitchen.
Two bidders had competed from the opening $900,000 bid with several $10,000 rises till it hit the reserve of $1.03 million.
A third bidder entered the fray and the auction slowed down to small $1000 bids before a local family won the keys.
“The architectural style and location close to Blackburn Lake made the home sought after,” Fletchers Whitehorse director Ben Williams said.
He said the four-bedroom “retro classic” on 543sq m had been very well maintained and was complemented by beautiful parkland and garden views.
Large walls of glass allow in plenty of natural light.
The home has an easy indoor-outdoor flow.
The Manningham and Whitehorse region recorded a low 43 per cent clearance rate from 49 auctions for the week ending October 14, according to CoreLogic figures. This was lower than the 52 per cent clearance for Melbourne.
Of the 21 properties sold, five were snapped up prior to auction while 14 sold on the day and two sold post-auction. Another 27 properties were passed in and one was withdrawn.
Mr Williams, who is also an auctioneer, said Fletchers had a 66 per cent clearance rate from seven auctions at the weekend.
He sold two homes after auction the same day at 13 Hylton Cres, Forest Hill and 24 Walwa St, Mitcham.
The Forest Hill home had passed in at $995,000 before selling for $1.01 million, while the Mitcham home fetched $996,000 after negotiations.
Mr Williams said vendors who did not adjust their prices and who were still expecting 2017 prices would struggle to find buyers.
“We find that 55-60 per cent of our listings are being sold under auction conditions and others are sold within a week of being passed in,” Mr Williams said.