Melbourne Auctions 18th April, 2015

By Janet Spencer

At Melbourne Auctions on the 18th April, 2015, it was a diverse day for Buyer Solutions.

First up Una McEvoy represented investors at the auction of 24 George Street, Northcote.  A very small Victorian Cottage on small land of only 117 square metres (approx).  The house sold for $851,000. We did not secure the property today.  The selling agents had been quoting $600,000 to $660,000 for the property through-out the sales campaign.  Shocked buyers saw an opening bid of $750,000.   That didn’t stop other bidders from driving the price up and up to just over $850,000.  This could be some sort of record on land value for the area at over $7,000 per square metre if you knocked the house down.  Brighton land can be around $10,000 per square metre to give some sort of perspective on this huge result.

I was deployed both South and West today, bidding at the auction of 41/55 Bay Street, Port Melbourne in the morning and in Altona by the beach in the afternoon.  One win, one loss for me today.  We put the sold sticker up in Altona in Romawi Street.

Auction in Altona

There were four bidders at the auction.  The property was originally quoted at $450,000 plus, raised to $480,000 plus later in the campaign and ultimately sold for nearly $550,000.  Our home buyer client will be thrilled to move in soon. She is involved with the Altona Film Festival and very busy in cinema and film, so this move makes sense.

In the middle of the day, when the sun started to peep through the clouds over the bay, I bid on a one bedroom apartment in Bay Street, Port Melbourne with the biggest private terrace I have seen in a while, even on some penthouses.  You could certainly entertain at this property and benefit from the views morning, noon and night.  This photo is only showing about half of the outdoor space and gives a glimpse of the special views.  Unfortunately for our home buyer client, we were outbid today for this little ripper of an apartment.  Their budget could not stretch to the ultimate and I thought quite fair selling price of $575,000. I needed a quick coffee to refuel for the next auction and was offered two off-market opportunities whilst I drank my coffee to follow up next week.  Both in Beaconsfield Parade with water views.

For up to date information on what’s happening in real estate in Melbourne, contact Janet at jspencer@buyersolutions.com.au or 0418 101 146.

By Janet Spencer

Buyers Agent, Buyers Agent of The Year, Buying property, Home buying, Housing Affordability, Housing Market, Investment property, Janet Spencer, State of the market

altona, auction results, auction results melbourne, Buyer Solutions, buyers advocate, buyers agent melbourne, home buying, Janet Spencer, northcote, port melbourne, property investment