Thornbury home sells for $1.52m after auction to only bidder
Despite a strong campaign, four interested buyers and a large turnout on the day, the house at 10 Hobson Street, initially guided at $1.42 million to $1.52 million (later changed to $1.5 million to reflect a private offer) struggled to gain traction, eventually selling post-auction to the only bidder – a couple – for $1.52 million.
The property was one of 733 scheduled to go to auction in Melbourne this week. By evening, Domain Group recorded a preliminary auction clearance rate of 71.1 per cent from 519 reported results throughout the week, while 51 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
Little Real Estate agent and auctioneer Eric Brown said the property had been very popular.
'It was a really busy campaign – we had over 100 groups come through that property, with people saying they really liked the feel of the home, loved the location,' he said. 'Four people said they wanted to buy it, and three attended the auction.'
The young professional couple – whose opening bid of $1.48 million was countered by Brown with a vendor's bid of $1.5 million – held out, resulting in the house passing in at $1.5 million. The reserve was $1.53 million. There is no legal requirement for a vendor's reserve to be in line with their property's price guide.
In neighbouring suburb, Clifton Hill, a very different auction result netted the vendor $235,000 over reserve after his 20-year-investment property sold under the hammer for $1,215,000.
Five young couples competed for the two-bedroom, unrenovated house at 20 Noone Street, said auctioneer and listing agent Steven John Scalise from Little Real Estate, with a young local couple placing the winning bid.
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A three-bedroom Californian bungalow in Thornbury, a popular suburb in Melbourne's inner-north, failed to sell under the hammer following a solitary opening bid of $1.48 million. Despite a strong campaign, four interested buyers and a large turnout on the day, the house at 10 Hobson Street, initially guided at $1.42 million to $1.52 million (later changed to $1.5 million to reflect a private offer) struggled to gain traction, eventually selling post-auction to the only bidder – a couple – for $1.52 million. The property was one of 733 scheduled to go to auction in Melbourne this week. By evening, Domain Group recorded a preliminary auction clearance rate of 71.1 per cent from 519 reported results throughout the week, while 51 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate. Little Real Estate agent and auctioneer Eric Brown said the property had been very popular. 'It was a really busy campaign – we had over 100 groups come through that property, with people saying they really liked the feel of the home, loved the location,' he said. 'Four people said they wanted to buy it, and three attended the auction.' The young professional couple – whose opening bid of $1.48 million was countered by Brown with a vendor's bid of $1.5 million – held out, resulting in the house passing in at $1.5 million. The reserve was $1.53 million. There is no legal requirement for a vendor's reserve to be in line with their property's price guide. In neighbouring suburb, Clifton Hill, a very different auction result netted the vendor $235,000 over reserve after his 20-year-investment property sold under the hammer for $1,215,000. Five young couples competed for the two-bedroom, unrenovated house at 20 Noone Street, said auctioneer and listing agent Steven John Scalise from Little Real Estate, with a young local couple placing the winning bid.
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