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Summer Sales Cool As Metro Property Markets Heat Up
February 5, 2014
This past weekend there were 116 auctions reported to the REIV, with 83 selling and 33 being passed in. 17 of those passed in on a vendors bid.
40 Warrenbeen Court, Barwon Heads
This 3 bedroom home is set amongst Moonah trees on one of the largest blocks in Barwon Heads. The property was auctioned on Saturday by Bellarine Property in front of a large crowd. Most were not interested in purchasing the property resulting in the property passing in with no bids. Despite this, the property was sold just after the auction for an undisclosed amount.
6 Baytown Close, Barwon Heads
This bluestone and cedar clad home at the end of Baytown Close attracted a big crowd when it went to auction on Saturday. Bellarine Property Agent, John Austin explained that the property’s distinctive style was a draw card on the day. The property has 2 bedrooms in the main dwelling with a 3rd bedroom and ensuite in a separate bungalow. 2 bidders contested the auction on the day. The property was passed in before reaching the vendors’ reserve. It was sold shortly after the auction for $573,000.
13 Rest Drive, Flinders
This 3 bedroom and 2 bathroom cottage was described by Kay & Burton Agent, Paul Armstrong, as the best of both worlds falling into the Flinders Residential Zone but backing onto the rural section of Flinders. The large 3,451 square meter block was the main attraction allowing plenty of space to build a dream home with room to spare for a pool and tennis court. The auction was well contested with 2 main bidders resulting in the property selling under the hammer for $935,000.
Next weekend the auctions will start to pick up with around 300 auctions scheduled. The number of properties going under the hammer in coastal areas will drop while the number in Metro Melbourne will increase as we move toward the end of Summer.
That wraps up the last of the weekly market blogs however be sure to visit blog.realestateview.com.au to view articles from propertyDATA.com.au throughout the year. If you are an agent feel free to contact us at email@example.com with the result of your auction(s)/sale(s) and any additional comments and we will be in touch to discuss featuring these in future articles.