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The Age
3 days ago
- Business
- The Age
First home buyers snap up bayside three-bedder for $1.77m
A St Kilda house in need of a little love sold at Saturday's auction for $300,000 over reserve after a first home buyer couple paid $1.765 million for the three-bedroom property. With a price guide of $1.3 million to $1.4 million, the auction of 17 Fawkner Street attracted well over 40 onlookers and four serious bidders, who battled it out for nearly 15 minutes before victory was secured. The reserve price was $1.46 million. There is no legal requirement for a vendor's reserve to be in line with their property's price guide. The property was one of 1417 scheduled to go to auction in Melbourne this week. By evening, Domain Group recorded a preliminary auction clearance rate of 70.3 per cent from 1048 reported results throughout the week, while 105 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate. Auctioneer Nick Renna took the bidders through a competitive session with an opening bid of $1.45 million, where two couples battled it out until the $1.725 million mark, at which point the third and fourth bidders stepped in. Connor Delany from Jellis Craig Brighton said the winners, a couple with teenage children, were renting in Albert Park and had been on the lookout for their first property. 'Those buyers came from Barcelona, they've been here for about 15 years, and it's their first purchase,' he said. Most of the potential buyers were local, with many looking to 'renovate and live in the house, or flip it'. 'The house needs some TLC,' Delany said. The underbidders included a couple with nearby family, an upsizer in an apartment, and an older European man.
Sydney Morning Herald
24-05-2025
- Business
- Sydney Morning Herald
Sydney terrace that last sold for $80,000 sells for $1.95m at auction
A first home buyer from Newtown paid $1.95 million at auction on Saturday for a Victorian terrace in the suburb with 'time-worn interiors'. Records show it last sold for $80,000 in 1986. The three-bedroom property at 21 Bucknell Street was guided at $1.6 million. Adrian William Real Estate's Kate Ferrante declined to reveal the reserve but said it sold for 'more than $300,000 above the reserve'. There were 11 registered bidders and three took part. Bidding opened at the $1.6 million guide and rose in varying increments. The property was one of 992 scheduled to go to auction in Sydney this week. By evening, Domain Group recorded a preliminary auction clearance rate of 71.1 per cent from 641 reported results throughout the week, while 105 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate. Ferrante, who held the listing alongside CobdenHayson's Mia Fredrix, said the male buyer had help from his parents. He outbid builders and a father who bid on behalf of his son. Interiors are described as 'time-worn' on the listing. There is dated carpet and retro pink cabinetry in the kitchen. Ferrante said that while there's confidence in the market, the full impact of two interest rate cuts were yet to be felt. She said the property is something people can put their own mark on.
The Age
19-05-2025
- Business
- The Age
Young couple pay $272,500 over reserve for renovated Brunswick terrace
Three young couples competed for a Brunswick terrace at auction on Saturday, pushing the sale price to $3,272,500. The renovated three-bedroom home at 679 Park Street was listed with a price guide of $2.8 million to $3 million and had a reserve of $3 million, set at the top of the range. The Victorian terrace, 'Ellis', located on the Princes Hill border in Brunswick, has generous living areas, a flexible layout and off-street parking. The winner and underbidder were both local to the area. Proceedings opened with a bid of $2.8 million and the reserve was quickly reached. Bidding then slowed, with increments decreasing from $25,000 to $10,000, $5000, and $1000. Selling agent Peter Stephens from Nelson Alexander said the auction 'wasn't very fast' but had 'good, strong bidding.' 'The market is getting going again after Easter, Anzac Day and the election,' he said. The property was one of 849 scheduled to go to auction in Melbourne during the week. By Saturday evening, Domain Group recorded a preliminary auction clearance rate of 72.4 per cent from 615 reported results throughout the week, while 55 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate. In Northcote, a double-fronted period house sold under the hammer for $2.33 million.
The Age
19-05-2025
- Business
- The Age
Young couple pay $720,000 over the reserve for renovated Brunswick terrace
Three young couples competed for a Brunswick terrace at auction on Saturday, pushing the sale price to $3.72 million. The renovated three-bedroom home at 679 Park Street was listed with a price guide of $2.8 million to $3 million and had a reserve of $3 million, set at the top of the range. The Victorian terrace, 'Ellis', located on the Princes Hill border in Brunswick, has generous living areas, a flexible layout and off-street parking. The winner and underbidder were both local to the area. Proceedings opened with a bid of $2.8 million and the reserve was quickly reached. Bidding then slowed, with increments decreasing from $25,000 to $10,000, $5,000, and $1,000. Selling agent Peter Stephens from Nelson Alexander said the auction 'wasn't very fast' but had 'good, strong bidding.' 'The market is getting going again after Easter, ANZAC Day and the election,' he said. The property was one of 849 scheduled to go to auction in Melbourne during the week. By Saturday evening, Domain Group recorded a preliminary auction clearance rate of 72.4 per cent from 615 reported results throughout the week, while 55 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate. In Northcote, a double-fronted period house sold under the hammer for $2.33 million.
Sydney Morning Herald
19-05-2025
- Business
- Sydney Morning Herald
‘House of the Year' with swim-up bar, golf simulator snapped up for cool $14m
A Gold Coast trophy home with its own golf simulator, inbuilt trampoline and swim-up cocktail bar has smashed the Mermaid Waters house price record, after a local buyer – who first saw the house 24 hours earlier – dropped $14,005,000 under the hammer. The unnamed buyer outmuscled eight registered bidders, five of whom were active, and paid about $1 million over the reserve. The previous house price record for Mermaid Waters was $7.7 million. Set on a 1113-square-metre block at 24 Winch Court, the five-bedroom, four-bathroom residence was crowned National Contract Home and Gold Coast House of the Year in 2024. Spanning four levels and boasting 46 metres of lake frontage, it features a resort-style pool with built-in day beds, a five-car basement garage and a hydraulic lift. Bidding opened at $6.5 million and surged to $9 million in million-dollar jumps before slowing to $500,000 increments. It paused at $12 million and was called on the market at $13 million – about the reserve – before reaching its final price after 48 bids. 'The buyer only saw it 24 hours before the auction as he had been travelling but he just fell in love with it. He not only appreciated the quality but also what Mermaid Waters has become,' said co-selling agent Jamie Harrison, of Kollosche. According to Domain's latest House Price Report, the median house price in the suburb rose 7.6 per cent to $1.7 million over the past year, and a staggering 105.1 per cent over the past five years. There were 124 scheduled auctions in south-east Queensland over the past week. By Saturday evening, Domain Group recorded a preliminary auction clearance rate of 43 per cent from 89 reported results, while 19 auctions were withdrawn.
