5th June 2017: Auction Snapshot: Saturday 3 June

What's happening in the market…

The Domain Group revealed a change to the 2017 budget that nearly went unnoticed. Property industry experts warn the change will affect a huge proportion of the market. When a property is sold for $750,000 or more, sellers have to provide proof that they are not a "foreign investor", otherwise the ATO will receive 12.5% of the sale. Currently this only occurs at a rate of 10% for properties sold for $2 million or above. Click here to read the full article.

Saturday 3 June
Number of auctions in Victoria: 861
Clearance rate: 78%

The same weekend last year
Number of auctions in Victoria: 843
Clearance rate: 75%

Auction highlights…

35 Foch Street, Box Hill South

This three bedroom, two bathroom weatherboard home has been recently renovated, turning the charming residence into a modern vision with design flare. Featuring an indoor/outdoor entertaining area, a north-facing deck, open-plan living/dining areas and a generous kitchen, the home is well suited to families and those who love to entertain. Both our vendors and the successful purchasers were thrilled with the result!

Number of bidders: 2
Sale price: $1.49 million

2 Linnaker Place, Kew

A sleek two storey home with four bedrooms and three bathrooms, located within the Kew High School Zone. The residence features a great deal of space for family living, a rear decking, mountain views and treed surrounds.

Number of bidders: 1
Sale price: $1.8 million

9 Elm Tree Road, Doncaster

An original three bedroom timber home located only a short walk away from Westfield Doncaster, and zoned for Doncaster Secondary College and Primary School. Features include an open fireplace, a 774 sq m (approx.) block and a secure carport. The residence has the opportunity to renovate, redevelop or subdivide (STCA).

Number of bidders: 4
Sale price: Confidential