Doncaster jazzy sale: retro listing a timely reminder of market peak
Retro style matched a throwback to thriving market conditions as Manningham and Whitehorse continued to produce a series of strong results under the hammer.
Jazz music drifted down the street from 14 Log School Rd, Doncaster on June 15, attracting a crowd of over 100 people to watch the home sell for $135,000 above reserve.
“We got a jazz band out the front to lighten the mood a little bit — it’s good easy music for people to come to the auction with,” Philip Webb Doncaster East agent Michael Webb said.
The party vibe was in keeping with another successful auction week, with a 69 per cent clearance rate recorded for Manningham and Whitehorse.
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Neighbours packed out the front yard to watch two bidders vie for the keys, with the four-bedroom home ultimately selling for $1.135 million to young investors with long-term plans to renovate and move in.
Mr Webb said it was great to get a result that would provide the vendor with more security, after she recently moved into a retirement home.
“She needed the money to take that next step, we were working with her good friend who’s been her power of attorney,” he said.
Mr Webb said many neighbours were thrilled to see such a strong result on the street and some had already been in touch about listing their own homes in the future.
“With the market going the way it is, it seems to be a bit of a kickback to the golden days of selling real estate,” Mr Webb said.
“Hopefully it can keep on going for the next few years.”
A contemporary Doncaster dream home sold in a private sale for $2.9 million, after a huge amount of family attention.
“It was extremely well received — over 200 families inspected across four weeks — it attracted an audience from all over Victoria,” Barry Plant Doncaster East director Spiro Drossos said of 21 Hampshire Rd.
Mr Drossos said having the builders at the open-for-inspections gave potential buyers far more insight into the home, which was listed with a price guide of $2.8-$3 million.
“We wanted to provide an extra level of service to people that came through — to have that interaction with the people that designed and constructed it — the buyers really appreciated that,” Mr Drossos said.
“When it got to the particulars, they were able to share their vision. It was a really nice touch.”
A local family beat four other offers to win the keys to the award-winning home.
“It was one of the best products in the local area on a standard block. Very contemporary and modern and the floorplan really appealed to how everyone is living today,” Mr Drossos said.
“Very open-plan, high quality and lots of glass to allow a lot of natural light to come through.
“There were also people that came through that are thinking of building and they were so impressed with the creation, they wanted to get to the next level by speaking to the builders.”
Mr Drossos said confidence was returning to buyers with stronger competition for properties, including one home at 41 James St, Templestowe that received eight offers in its final day on the market before selling for $910,000.
A Templestowe Lower mortgagee auction had the crowd suffering from neck stiffness, watching over 100 bids placed by four groups on 3/215 High St.
Philip Webb agent Declan Treacey said mortgagee auctions often attracted greater interest, after the unit sold for $525,500.
“They tend to be pretty popular because the bank is very realistic — they’re there to sell, it’s not an emotional vendor, it’s a business decision,” Mr Treacey said.
Contrasting strategies saw the final two bidders bring the home to $55,500 above the reserve price.
“The underbidder was happy to throw a series of knockout bids but the buyer was just coming in with an extra $500 each time — it went on for a good half an hour of bidding,” Mr Treacey said.
“It would be interesting to see how far they would have gone.”
Mr Treacey said buyers were starting to become more proactive in the search for property.
“It’s almost like there’s a fear of missing out for buyers in this market — prices are still very affordable compared to what they were in the peak of 2017.”
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