Seaford auction frenzy: Three homes, $1.879m sold, all snapped up by first-home buyers in high-stakes triple sale

News.com.au

26-05-2025

There were tears, cheers and a $500 heartbreak as three Seaford homes went under the hammer in a row, and all sold to first-home buyers.
The triple auction of 1, 2 and 3/83 East Rd delivered a combined $1.879m result, with the three homes selling for $628,000, $580,000 and $671,000 respectively.
Ray White Chelsea director Shane O'Sughrue said the crowd of about 180 created one of the liveliest auction days he'd seen in months, with five to six bidders competing on each property and one buyer narrowly missing out by just $500.
'There was a lot of emotion,' Mr O'Sughrue said.
'One bidder lost by $500 and was gutted.
'One of the vendors actually cried, she was so overwhelmed.'
The homes, a three-bedroom renovator, a modern two-bedroom, two-bathroom unit, and a rear three-bedroom, two-bathroom townhouse, were all sold by the same owner, who was looking to fund a new business venture.
'We were thrilled, of course, but it was bittersweet too,' the vendor said.
'You could see how much it meant to everyone.
'We've been in their shoes, and seeing three young first-home buyers walk away with the keys was really special. A real full-circle moment.'
The vendor said the properties were held as long-term investments and the sales came together quickly, with no major upgrades beyond ensuring they were clean and presentable.
'We didn't have time for any big renovation,' she said.
'We gave Shane a tight brief and just hoped for the best.'
All three homes are located just 2km from Seaford Beach and within walking distance of schools, wetlands, and two train stations, factors Mr O'Sughrue said helped fuel demand in the $600,000 range.
'These weren't luxury renos, but they were neat, coastal, and had outdoor space, and that's exactly what first-home buyers are chasing right now,' he said.
The Ray White Chelsea director said buyer urgency had ramped up in recent weeks, with expectations of Tuesday's interest rate cut adding to the sense of competition.
'There's a definite shift, people aren't overthinking it anymore,' Mr O'Sughrue said.
'If something is priced right and well-presented, it gets snapped up fast,' he said.
Mr O'Sughrue added that the under-$700,000 price bracket was now 'the hottest part of the market' across Melbourne's bayside fringe.
'When you've got three first-home buyers walking away with wins in one day, you know that segment is flying,' he said.