Clifton Hill home defies expectations on election day
The push for an election day auction has paid off for the vendors of this Clifton Hill home.
Six bidders, “mostly young couples”, went head to head for the park-side home, which sold under the hammer for $1.451 million.
The opening bid of $1.25 million for 127 Ramsden St immediately exceeded the $1.2 million reserve price.
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Nelson Alexander Fitzroy agent Roland Paterson said it was a steady auction with lots of bids.
“The (about 240sq m) property was basically the same size as a single-fronted terrace, but with a double-fronted floorplan,” Mr Paterson said.
“It was renovated about 20 years ago, and the current owners haven’t done much to it.
“Two buyers in particular locked horns, and kept going and going in $1000 increments.
“The property ended up selling for $251,000 above reserve.”
The charming double-fronted facade is beyond a white picket fence.
Three bedrooms surround the formal living room, while the open-plan family, kitchen and dining room, which overlooks the courtyard, is at the rear.
Side access leads to the separate studio or workshop.
Mr Paterson said he had to push the owners quite hard to get them ready for election day.
“I’ve (held auctions on election day) several times over the last 25 years and it works really well,” Mr Paterson said.
“There are lots of people around, less competition on that date and a huge crowd (of about 80) showed up.”
Mr Paterson also said the inner-northern belt was generally improving.
“There is not that much supply, but what is available is proving to be quite competitive,” he said.
“I could be wrong, but my personal opinion is the market has turned a corner.
“There is a lot more optimism and inspection numbers are up.”
The property last sold for $648,000 in November 2004, according to CoreLogic.
Another property at 1/118 Roseneath St, Clifton Hill sold under the hammer for $1.06 million.
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