Bidders braved persistent rain in Melbourne as buyers pushed hard for limited December supplies and recorded a series of eye-catching results. Photo: NewsWire/Andrew Henshaw
Melbourne’s clearance rate remained at a moderate 66.9 per cent as buyers weathered the steady rain, delivering a mixed spread of December results across the city, with several multi-million transactions standing out from softer periods elsewhere.
According to preliminary PropTrack auction results, Northcote led the day’s results, with a four-bedroom house at 37 McCracken Ave selling for $3.67 million, topping the list as one of the strongest auctions in the Inner North of the month.
Rowville followed closely with 6 Norris Rd selling for $3.316 million, while Glen Iris also posted a solid figure with 45 Rosedale Rd changing hands for $2.686 million.
RELATED: Mickleham buyers are vying for an ‘immaculate’ family home
Melb summer auctions increase as Olympian sells
$520,000 Vic Church becomes $1.8 million ‘insane’ icon
In the inner city, 5 Somerset St in Richmond reached $2.4625 million, and Essendon rounded out the top performers with 27 Mackay St selling for $2.43 million.
While the weather kept many Melburnians indoors, bidding intensity remained steady in areas where buyers were willing to compete.
In Mulgrave, a revamped four-bedroom house at 3 Cromer Cres stormed to $1.191 million after five bidders contested in the rain.
Richmond’s 5 Somerset St sold for $2.4625 million after strong competition in the inner city.
Essendon’s 27 Mackay St was among the top sellers of the day, reaching $2.43 million.
Ray White Mount Waverley agent Jacob Biviano said the outcome was determined by motivated buyers rather than circumstances.
“It was terrible,” Mr Biviano said.
“We were expecting just two bidders, then three buyers arrived who had never been to the house before and all decided to join in. That brought us to five and created fantastic momentum.”
Ray White Victoria head auctioneer Luke Banitsiotis said the rain had little impact as bidding was strong in several suburbs.
Northcote’s 37 McCracken Ave topped the Melbourne results, achieving $3.67 million among competitive bidding.
Auctioneers across Melbourne reported similar patterns, with the rain having a limited impact on buyers determined to complete a transaction before the end of the year.
Ray White Victoria head auctioneer Luke Banitsiotis said competition was still evident in the west, where he hosted a lively auction at 124 Tenterfield Drive Burnside Heights, handled by sales agent Leigh Grixty.
“I had four families fighting it out, three in person and one remotely from Sydney,” says Banitsiotis.
Rowville’s 6 Norris Rd achieved $3.316 million, one of the biggest suburban results of the day.
“It’s been super competitive at that popular sub-$1 million price point. The market doesn’t feel like it’s faltering as we head into Christmas.”
Mr Banitsiotis said interest rate speculation was no longer derailing buyer engagement.
“Life doesn’t stand still for the Reserve Bank. People are still getting married, they’re still having children and they’re still getting smaller,” he said.
“If buyers have a house in sight, they have to push hard now, because January and February often bring fewer advertisements, but more competition.”
Sign up for the Herald Sun weekly property update. Click here to receive the latest news from the Victorian property market straight to your inbox.
MORE: New details revealed for the new $1.5 billion Footscray hospital
Pink supercar leads to wild TV reno ‘takeover’
Bunnings in, Woolies out: most and least trusted retailers named
david.bonaddio@news.com.au
#Buyers #compete #hard #Melbourne #blustery #Saturday #realestate.com.au