Days out from another likely super-sized interest rate rise, the crowd kept their hands in their pockets while a vendor bid was placed. But then, a surprise entrant made themselves known. auctions
A Brighton block offered as an opportunity to rebuild passed in and buyers negotiated after.Advertisement
Nelson Alexander auctioneer Tom Roberts made a vendor bid of $1.3 million, the bottom end of the price guide, then received an offer of $1.31 million.A second party entered the race, and the two groups traded a quick succession of $10,000 bids to reach $1.4 million, the top of the quoted range. “Vendors are selling and doing well and bringing things to the marketplace,” he said. “It’s about getting the pricing right.”
Kay & Burton Bayside Brighton’s Will Maxted said he was in negotiations with some parties post-auction, and his phone had not stopped pinging since, with potential buyers wanting to talk.A more affordable four-bedroom house in Frankston North soared above its reserve price, trading for $712,000 in front of a crowd of more than 90 onlookers., surpassing the reserve of $500,000 and price guide of $500,000 to $550,000.
“I’m a bit more picky about what I auction but if you get the right property you can auction it,” he said.“Buyers are looking for better value for money and better bang for their buck – it certainly has an effect on prices.“An investor beat three other parties, pushing the price above the $800,000 reserve.