31st October 2017: Auction Snapshot: Saturday 28 October

What's happening in the market…

The Domain Group highlighted that, "the incidence of good-quality properties tearing away at auction to a final sale price 20 per cent or more above reserve is still evident in the city's most coveted streets and suburbs. But it's becoming less of a feature of the market."

Domain also highlighted that if a suburb has a cinema complex, it's a sign the suburb has 'made it', with multiple new cinema complexes due to be built throughout Melbourne in the near future.

We will experience a lull in auctions this weekend, with many sellers choosing to avoid the days prior to the Melbourne Cup. Auctions are expected to then ramp up once again as we head into the last few weekends of Spring.

Saturday 28 October
Number of reported auctions in Victoria: 1269
Clearance rate: 71.6%

Auction highlights…

34 Hotham Street, Seddon

In a peaceful, wide street lined with period homes, this appealing Victorian, single fronted weatherboard delivers the near-city lifestyle sought after by young families, professionals and downsizers. Renovated and extended with a stylish blend of original charm and contemporary chic, the showpiece of the floorplan is the enclosed alfresco terrace, a private setting for everyday use or special occasion entertaining. Congratulations to the lucky new home owners!

Number of bidders: 7
Sale price: Undisclosed

7 Campbell Street, Heathmont

This brilliantly located property in the Ringwood Secondary zone has a bright future. Full of natural light and ready to be renovated or fully re-developed (STCA) the current home includes a large front lounge/dining area, second family room, bedrooms with built-in robes, a central bathroom, sun room and kitchen with upright electric cooking, servery and plenty of storage. This home achieved a fantastic result at auction with five bidders on the day!

Number of bidders: 5
Sale price: $1,070,000

5 Skene Street, Burwood East

Elegantly presented throughout, this comfortable 3 bedroom home is great buying for a family wanting to secure a future in this prized location or for a savvy developer who can see the potential of this 552 sq m approx. corner block (STCA). In the illustrious Mount Waverley Secondary College zone, metres from Ballyshannassy Park, and a short walk to the tram, this is a brilliant neighbourhood close to shops, Deakin University and schools.

Number of bidders: 3
Sale price: Undisclosed

9A Langford Street, Surrey Hills

Surrounded by lovingly-tended gardens and covered decks with multiple outdoor spaces, this classic solid brick home in a quiet, sought-after pocket is primed to enjoy immediately with possibilities to renovate or extend (STCA). The new home owners will enjoy high ceilings with Art Deco highlights, a flexible 3 bedroom floorplan and an easy stroll to shops, cafes, restaurants and the 109 tram.

Number of bidders: 3
Sale price: $1,325,000