Bidders buoyed by low interest rates
Published on 11/05/2014
Saturday saw multiple bidders at properties across all prices, encouraged by low interest rates.
Even first-home buyers kicked goals. At Black Rock, a mother successfully bid on behalf of her son while he played footy.
The two-bedroom architect-designed unit with windows soaring to a cathedral ceiling also attracted three other bidders. Hodges’ Paul Bond declared 4/171 Bluff Road on the market at $480,000. The mother won the keys for her boy at $520,000.
A solid brick three-bedder at 493 Hawthorn Road, Caulfield South, had 90 groups through and four interested parties in the crowd. Bids swept past the $770,000 reserve, and auctioneer Gary Peer said further ”rapid-fire” bidding prevented him from declaring it on the market. First-home buyers won it for $837,000.
RT Edgar sold a two-storey luxury home at 20 Hawksburn Road, South Yarra, with four bedrooms, three bathrooms, a pool and cellar, for $4.195 million – $420,000 above the reserve. ”The inner suburbs are holding firm,” said buyer’s advocate Michael Ramsay.
A Victorian house in Moonee Ponds offered a three-car garage, and its location, within walking distance of the Puckle Street shopping strip, was also a plus.
The three-bedroom house at 25 Hopetoun Street attracted four bidders, said buyer’s advocate Melissa Opie. It went on the market for Brad Teal at $940,000 and sold for $982,500.
Odd spot: No.115 Pilgrim Street, Seddon, is an 1890s timber Victorian ”maternity house”. Rather than the usual four main rooms, said Barry Plant’s Neils Geraerts, this building has six, with a fireplace in each. But the building is not protected by any heritage listings. A young family won it for $745,000.