Latest news with #ShaneOSughrue
News.com.au
26-05-2025
- Business
- News.com.au
Seaford auction frenzy: Three homes, $1.879m sold, all snapped up by first-home buyers in high-stakes triple sale
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.
News.com.au
21-05-2025
- Business
- News.com.au
‘Hectic' bidding war pushes Hampton East home $268k over reserve
A bidding war in Melbourne's southeast has left jaws on the footpath, with five buyers pushing this sleek townhouse almost $300,000 past reserve. More than 120 people packed into 21A Lonsdale Ave, Hampton East, to witness a 'high-stakes auction' — a modern three-bedroom townhouse that ultimately sold under the hammer for $1.538m. Ray White Chelsea director Shane O'Sughrue said the auction 'went off like a firecracker' and left him nearly speechless. 'There were bids flying. It was hectic,' Mr O'Sughre said. 'My sellers are speechless. 'They're upsizing locally and just couldn't believe the result.' The auction opened at $1.17m — the bottom of the price guide — and quickly escalated in $20,000 and $30,000 jumps. Once the bidding hit the mid-$1.4m range, the increments narrowed to $10,000, then $2,000, and finally $1,000 as two buyers went head-to-head in a nailbiting finish. Mr O'Sughrue said confidence in the market was rising fast, especially ahead of an expected interest rate cut. 'There's a sense of urgency building out there,' he said. 'Buyers aren't waiting anymore. ' They're getting aggressive and jumping in before competition gets even stronger.' The home itself had plenty of pulling power, about 30sq m in total with three distinct living zones, a high-end kitchen featuring a stone waterfall island and seamless indoor-outdoor area leading out to a covered timber deck. The Ray White Chelsea director said the home has a great flow. 'You've got the space, security with the electric gate, and finishes that are mid to high calibre for the area,' Mr O'Sughrue said. 'It appealed to families, professionals, downsizers, a really broad market.' The result comes as listings remain tight across Melbourne's bayside suburbs, with well-presented homes continuing to draw big crowds and strong offers. Mr O'Sughrue also urged sellers not to sit back and wait for spring. 'Now's the moment,' he said. 'You don't want to be competing with everyone else in three months' time. 'The buyers are here, they're ready, and if your home's priced right, it'll fly.'
