A hard to love Broadmeadows house sold a whopping $91,000 above reserve at a passionate Valentine’s Day auction.
The three-bedroom deceased estate was looking for a new partner to share its dated kitchen with curtains in place of cupboard doors, blue and yellow dining area and purple drapes in its bathroom.
But the eclectic mix and a worn facade proved a turn on for a surprising number of buyers.
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Ray White Glenroy principal Mete Karan said the home had attracted bids from six suitors at a multi-auction event last night, and had a few more secret admirers who never got a chance to show their love.
“There were about 15 bidders registered for it, but only about six got to bid,” Mr Karan said.
The home at 114 Waranga Cres sold for $491,000 despite a pre-auction reserve being publicly set at $400,000.
It was one of the eight homes sold as part of an 11-property Valentine’s Day auction event held by the firm.
As romantic gestures go, you could do worse than committing to a long-term relationship with a home, Mr Karan said.
“I think there were a few that bought a Valentine’s gift,” Mr Karan said.
“A number of young couples wound up walking away with the keys to a home.”
A home at 1/79 Queens Pde, Fawkner went to auction with a $270,000-$297,000 asking price, and was called on the market at $290,000 but seven bidders pushed it more than $80,000 further to $372,000.
Meanwhile, 4/3 Shepherd St, Glenroy sold for just $318,000 with four bidders pushing it well past its $280,000 reserve.
Both homes sold to first-home buyers.
“There was a lot of activity last night,” he said. “We had 86 registered bidders across 11 properties, and that is quite a large number.”
A big part of the successful results had been pricing, with the majority seeking less than $800,000.
“Our first-home buyer market is what’s really keeping most of us in Glenroy in business,” Mr Karan said.
“At the top end we have seen prices pull back.”
CoreLogic Australian head of real estate Geoff White said last weekend’s 52.4 per cent clearance rate across Melbourne had been a positive sign as the number of auctions ramped up for the year.
“(From last year) I would have thought we’d be under 50 per cent,” Mr White said.
“For 307 auction results, that’s pretty good to have a five in front of it. Deals are being done, buyers are out there and vendor expectations seem to have matched the market.”
More than 600 auctions are expected to be handled across the city this week, and the extra volume may push the clearance rate down he said.
Among those hoping to see a good result this weekend is Australian test and Twenty20 cricket star Aaron Finch.
The big-hitting batsman is hoping his Kensington investment pad will put some runs on the board when it goes under the hammer at 10am.
Rendina Real Estate boss Lou Rendina said there were at least two bidders who thought the two-bedroom apartment in a converted warehouse at 303/18 Bent St was on a good wicket near the Kensington Village.
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“It’s appealing to both investors and owner occupiers,” Mr Rendina said.
“(Because of) the sheer size of it and the views of Melbourne.”