The rain and unofficial long weekend couldn’t douse a bidding contest that pushed a Wantirna home to sell more than $350,000 above reserve.
The 3 Kew Place auction had five bidders inside the packed kitchen and living area of the four-bedroom house.
A Vermont family paid $1.417 million on a $1.05 million reserve for the 738sq m property.
“We had 10 potential bidders at the auction and the result was crazy and totally unexpected,” Harcourts Wantirna agent Dean Kehagias said.
“It took just five bids to reach the reserve, with most of the buyers being Asian families.”
Mr Kehagias noted Asian buyers preferred large well presented homes similar to 3 Kew Place as they wanted properties they could move into without having to renovate.
“There are not many similar homes for sale in Wantirna now, and we had more than 100 groups at the inspections and 70 people crowded into the home at the auction,” he added.
The vendor paid $795,000 for the Kew Place house in 2010, sale records show.
Another auction that same day in Wantirna at 19 Wondalea Cres had to be held in the carport due to the rain.
The property sold for just under $1 million, well above the $800,000-$880,000 price guide.
A single homebuyer from Clayton won the bidding from a family and another single male bidder
Mr Kehagias said the lack of auctions over the long weekend helped bring buyers to the Wantirna auctions.
“Homebuyers don’t care about a horse race and just want to secure a property, and this is why we hold auctions even on long weekends,” he said.