Blockbuster Burwood auction sees nearly 300 bids placed over two hours
Curious onlookers got more than they bargained for at a marathon Burwood auction that stretched over two hours.
An incredible 273 bids were placed for 1/23 Farleigh Ave, which sold for $1,168,250 after the crowd had long since dispersed.
“We started bidding with a full house, by the time we finished there was only the two bidders left,” McGrath Box Hill agent Ripple Wu said.
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After being declared on the market at $1.1 million, tiny increments of $250 started being accepted from the four groups, all of which were planned owner-occupiers.
“The buyer wasn’t going to give up — it just kept going and going,” Ms Wu said.
Multiple breathers were required to give the auctioneer a water-break as numbers dwindled.
“I can certainly tell you this is the most bids I’ve had at an auction in my career,” Ms Wu said.
“It was a very interesting auction.”
The near-new three-bedroom townhouse was bought by a downsizer, after attention from three young families on auction day.
Ms Wu said the sale was a sign of strong interest in the market, especially from owner-occupiers.
“We’re sort-of picking up again — we’re definitely seeing a lot of positivity,” Ms Wu said.
“People are buying to live in and that’s obviously an essential need.”
Meanwhile in Templestowe Lower, a mortgagee auction at 4/215 High St was over almost before it began, despite three bidders placing 19 bids.
Five minutes was all it took for keys to change hands for $548,000, well above the reserve price of $480,000, for the two-bedroom unit.
“A young family have secured their first home after three months of looking and couldn’t be happier,” Philip Webb agent Declan Treacey said.
Community spirit proved popular with four bidders at a rare Doncaster offering that went under the hammer.
A four-bedroom house in a Merchant Builder complex at 11A Timber Ridge sold for $180,000 above reserve to a downsizing Donvale couple.
The couple faced competition from young couples looking to renovate and move in to the property, before winning the keys with a bid of $1.05 million.
Earlier, the reserve was overcome by a bold opening bid of $935,000 for the house, which was on the market for the first time.
“They loved it because of the communal effect with the cluster of other homes,” Jellis Craig Doncaster agent Matthew Lockyer said.
“It’s extremely rare and very unique, so it certainly captured a lot of people’s interest.”
More than 150 groups inspected the house ahead of the auction, which was watched by a large crowd of more than 100 people, many of them neighbours curious to see what value the home had.
“Once you buy in there you tend to stay in there, which I think was the attraction to a lot of people,” Mr Lockyer said.
“Even if there was far greater stock on the market, I think it would have been just as popular because of its uniqueness.”
Mr Lockyer said the level of stock in the market was starting to show signs of picking up, but was still not capable of matching demand.
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