Auctions to heat up after election weekend
After a quiet election weekend with only 432 auctions held in Melbourne, that number has more than doubled to 909 across the city, according to CoreLogic.
Here are some of the homes in Melbourne’s east that are expected to do well under the hammer on May 25.
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51 Park Lane, Mt Waverley
A three-bedroom home at 51 Park Lane goes to auction at 12pm with a price guide of $1.3-$1.43 million.
Barry Plant Mt Waverley director Mario Munafo said there had been a solid response from a variety of different buyers.
“All walks of life have certainly been drawn to the property,” Mr Munafo said.
“There’s buyers who’ve seen the potential to renovate the original homestead, as well as location buyers, as well as family buyers looking at building their dream home, plus investors that are forecasting a development opportunity in the future.”
About 60 groups have been through the house ahead of the auction, with three bidders expected to attend the home, which is close to schools, shops and public transport.
9 Margate Cres, Glen Waverley
Another three-bedroom home at 9 Margate Cres is listed with a price guide of $1-$1.1 million.
Heading under the hammer at 10:30am, the property had been popular online and in open for inspections, with 98 groups attending, Ray White Glen Waverley agent Darryl Wickham said.
“All the ingredients are there for a good auction,” Mr Wickham said.
He said he anticipated more certainty in the market after the surprise Liberal victory in the federal election, but it would be “business as usual” in the short term.
4 Glen Rd, Ashburton
A 1940s architecturally designed home backing on to Gardiners Creek trail goes under the hammer at 10am, with a price guide of $1.9-$2 million.
Jellis Craig agent David Macmillan said 36 buyers had been through 4 Glen Rd ahead of the auction, with a blend of buyers interested in the home’s architectural appeal and buyers hoping to renovate.
“It’s a bit of both — it’s a beautiful ‘40s home that’s been architecturally designed and will appeal to a lovely family, but it also has the opportunity to unfortunately come down and for someone to utilise that block of land. It’d be a shame but certainly there’s always that possibility,” Mr Macmillan said.
7 Glenwerri Court, Vermont South
A four-bedroom home at 7 Glenwerri Court with a price guide of $1.08-$1.188 million goes under the hammer at 11am.
Biggin & Scott director Ming Xu said the property’s court location and full renovation had appealed to the 60 groups that have seen the home.
“It’s also in that price range that buyers feel comfortable with,” Mr Xu said.
He said the surprise election result would likely create more confidence in the marketplace.
“We’re going to see the prices increase in the next few months’ time, as more buyers start taking action, not waiting anymore. This week is the first week after the election and there were certainly a few more inquiries coming in.”
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