A local couple paid $896,000 for a North Melbourne townhouse, outbidding two other first home buyer couples for the keys to the split-level home.
asserted
couple → pay → home
The two-bedroom residence at 2/60 Courtney Street is spread across three levels and features a garage room, a bathroom and an open-plan living room that flows seamlessly onto the terrace.
asserted
that → spread → terrace
The auction started with a bid of $770,000 as savvy buyers tried to get in under the $820,000 reserve.
asserted
buyers → start → reserve
Independent auctioneer Jack Cooper accepted the bid but called for the next offer to be “somewhere in the 800,000s”.
asserted
offer → accept → 800,000s
He was instead offered a bid of $2000, which he declined.
asserted
he → offer → which
“I wanted a little higher given the guide,” he said to a silent crowd.
asserted
he → want → crowd
As he started to count down, a second bidder offered $820,000, which soon escalated into a flurry of bids ranging from $1000 to $10,000 until the $851,000 mark, at which a third bidder entered the fray.
asserted
bidder → start → fray
From there, the second and third bidder fought until the $896,000 mark, where the second bidder stopped.
asserted
bidder → fight → mark
Jellis Craig Kensington lead agent Zach Sianos said the buyers were a local couple looking to upsize.
asserted
buyers → say → ?
The underbidders were another young first home buyer couple, who had dad bid on their behalf.
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dad → have → behalf
Sianos said the vendors were a family with young children who had bought the house as their first home, and since outgrown it.
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who → say → it
Sianos said properties in the first home buyer market were still selling despite the cash rate increases.
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properties → say → increases
“It’s just price-sensitive ... properties with sensible reserves are still performing well,” he said.
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he → ’ → reserves
“Properties under a million dollars have got some good momentum at the moment.”
asserted
Properties → get → moment
The property was one of 676 scheduled to go to auction in Melbourne this week.
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property → schedule → Melbourne
Earlier, an Edwardian home in Surrey Hills, in Melbourne’s leafy east, sold for $200,000 above reserve, with a couple fighting off three other bidders to secure their city residence.
asserted
couple → sell → residence
The four-bedroom house at 14 Norris Street was listed with a reserve price of $2.06 million.
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house → list → million
Featuring coloured leadlight glass, an arched hallway and high ceilings, the home is close to schools and other amenities.
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home → feature → schools
Marshall White Boroondara lead agent Julian Papas said auction proceedings began with a vendor’s bid of $1.9 million, which was soon countered by a genuine bid of $1.92 million.
asserted
which → say → million
From there, the first and second bidders – both owner-occupiers – battled in increments of $20,000 before breaking down in $10,000s.
asserted
bidders → battle → 10,000s
At the $2 million mark, a third bidder entered the auction, after which the bids went up in increments of $5000, until a final bidder won with an offer of $2.26 million.
asserted
bidder → enter → million
“It was purchased by a family with adult children who have a residence on the Bellarine Peninsula and are going to be splitting their time between Melbourne and the Bellarine,” Papas said.
asserted
Papas → purchase → Melbourne
The underbidder was a downsizer moving from a larger parcel of land in the eastern suburbs.
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underbidder → move → suburbs
Papas said the vendor also has a house on the Bellarine Peninsula, but decided to scale down in Melbourne.
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vendor → say → Melbourne
The vendor refinished the floors, added new carpets and repainted the home to make it more live-ready, which helped attract a much larger pool of buyers.
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which → refinish → buyers
In Balaclava, in the inner south-east, a brand-new home passed in at auction on a vendor’s bid of $2 million.
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home → pass → million
The four-bedroom house at 50 Rosamond Street features two master suites with en suite and walk-in robes, and was listed with a reserve of $2.2 million.
asserted
house → feature → million
Melbourne Sotheby’s International Realty Stonnington lead agent Will Hocking said the auction had attracted a few parties, including a local investor and Queenslanders looking to relocate to Melbourne.
asserted
auction → say → Melbourne
Some parties had registered and some turned up on the day.
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some → register → day
While the house passed in on a vendor’s bid of $2 million, Hocking said he would now speak to the interested parties before looking to re-auction the house before the end of the year.
asserted
he → pass → year
Hocking said the biggest issue in the $2 million-plus market was low stock, due to rising interest rates and the upcoming state election in Victoria.
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issue → say → Victoria
“Stock levels are down dramatically, and transaction volumes above $2 million are down 50 per cent compared to last year,” he said.
asserted
he → compare → year
“There are buyers out there, stuff is still selling, but the stock is the issue.”
asserted
stock → be → ?
The Aporia
