Four days of auction action will kickstart the year’s property market this weekend, with close to 100 Victorian homeowners celebrating Australia Day by selling their piece of the nation.
It will be the state’s biggest dose of auction action to date this year.
And CoreLogic Australian head of real estate Geoff White said while the volume wasn’t huge compared to other times during the year, there could be success stories.
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Particularly along the coast where buyers might be in a stronger financial position than homebuyers in the city’s suburbs.
“I think those areas won’t be so much impacted by what’s going on in the general market,” Mr White said.
“So we could see reasonable outcomes. There will be people thinking with the market softer, now is a good time to buy.”
Despite this, Craigieburn will be the weekend’s hotspot with 15 auctions slated from 6pm Friday at an Australia Day eve event in the northern suburb.
Ray White Craigieburn’s Andrew Bellino said they were expecting strong competition and hoping to see a clearance rate around 60 per cent, with upwards of 60 groups inspecting the homes with prices ranging from the $400,000s to the $600,000s.
“The majority of buyers will be homebuyers with a mix of first-home buyers and second or third-home buyers for some of the higher end ones,” Mr Bellino said.
“Considering the way the market ended off last year, to see that level of buyers coming out is positive.”
A four-bedroom house at 8 Lion Chase had proven particularly popular ahead of its auction and comes with a $500,000-$550,000 price guide, while a similar home at 32 Ballybunion Ave had attracted more than 60 groups of homebuyer hopefuls.
The event will be run at the Hume Tennis and Community Centre, with fireworks planned if there isn’t a total fire ban.
On Saturday Ray White Box Hill’s Aaron McDonald said he expected at least four bidders for 22 Maude St, Box Hill.
The three-bedroom, single-level house had proven popular with first-home buyers and those considering bulldozing the existing house to build a new one.
Mr McDonald said getting in ahead of the wider Melbourne market had given those attempting a sale on Australia Day an extra chance at success with very limited competition in the area at this stage.
“I don’t think we are going to have a boom year, but there’s not much there for buyers — so if anyone wants to sell, I’d be doing it before things get busy again,” he said.
On the coast, OBrien Real Estate’s Mathew Blakely will auction a boat shed off Point Nepean Rd in Rye.
The unusual beach property doesn’t have any water or electrical connections, but has still attracted a number of prospective buyers with its $120,000-$130,000 price guide.
On Sunday, Barry Plant’s Craig Leo and Clare Black are expecting a bare block looking across the road to the water at Safety Beach to draw plenty of interest.
The 1000sq m block at 162 Marine Drive has plans and permits for four residences, and had proven popular in the lead up to the auction.
“The expectations are good for Sunday,” Mr Leo said.
“It’s a really good property for a development site in that location.”
And on Monday half a dozen homes will be auctioned along the Mornington Peninsula.
Hocking Stuart’s Jarrod Eastwood said with most of the state set to enjoy a long weekend, taking advantage of Monday’s public holiday had been preferred to interrupting the official festivities on Australia Day on Saturday.
And there was interest in several of the homes they had listed, including 2 Marine Drive, Safety Beach.