WEEKEND AUCTION RESULTS – FLAT MARKET AT ENTRY LEVEL – PREMIUM END STILL STRONG

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WEEKEND AUCTION RESULTS – FLAT MARKET AT ENTRY LEVEL – PREMIUM END STILL STRONG

Last weekends auction market was a bit on the nose for entry level property under the $1,000,000 threshold.  Perhaps the atrocious weather contributed to the infertility. 22 homes at or under $1,000,000 went to auction; only 7 successfully selling on the day.  The premium end of the market fared much better with 6 properties up for grabs, 1 selling before auction and 3 others selling on the day at or above the vendors reserve.

2 Buxton Court South Mount Martha had been through an extensive and exhaustive marketing campaign leading to the advertised auction last Saturday.  Speaking with Marcus Gollings of McEwing & Partners Mornington; the property reached a successful sale on Friday night prior to the auction and the home was withdrawn.  Hard work paid off for the agent and the vendors.

10 Woolston Drive Frankston South.  An interesting home; ideal for a professional couple or those with 1 Gromit keeping them on their toes.  The gardens are special, and the home had a uniqueness that appealed to a broad range of buyers.  Marketed at $1,000,000 and selling for $1,006,000 was right on the money for both vendor and buyer.  This pocket of Frankston South is a lovely part of the area and worth keeping an eye on for future opportunities.

The much-anticipated auction of 2 Wonderland Avenue Tuerong on Saturday drew a large crowd under grey skies with the rain holding off for the 1:00PM start.  Dean Phillips opened the auction and received a genuine starting bid of $1,800,000.  4 buyers entered at varying amounts with a couple of $50,000 rises, $9,000 and $25,000 with the home called “on the market” at $2,000,000. 14 further bids and the home was sold for $2,180,000.  A fantastic lifestyle property deserving of its price tag.  Tuerong has thrown up a couple of excellent results over the past few weeks with another property exceeding its initial reserve by $200,000 the week before. Premium level homes are performing well, and buyers are  looking for quality peninsula lifestyle property.

Feel free to check out our best premium level peninsula buys at the tiles below.  

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