11th September 2017: Auction Snapshot: Saturday 9 September

What's happening in the market…

"Dozens of auctions in Melbourne at the weekend saw a drop-off in bidder participation rates but the percentage of properties that sold under the hammer stayed high," The Domain Group stated.

Domain also highlighted that the outer east suburbs of Melbourne achieved the highest clearance rate, whereas the south-east had a weaker result than usual.

Once again, the Reserve Bank of Australia has decided to leave the cash rate at 1.5%, unchanged since August 2016.

Saturday 9 September
Number of auctions in Victoria: over 900
Clearance rate: 73.1%

The same weekend last year
Clearance rate: 78.4%

Auction highlights…

21A Glen Road, Ashburton

Architect-designed, this four bedroom residence sets a new benchmark for contemporary family living and extravagant entertaining. Features include an under-cover alfresco area, infinity pool, Miele kitchen and butler's pantry, fully-fitted cinema and a three car garage. The lucky new home owners will enjoy a perfect location within walking distance to trains, Solway Primary and Gardiners Creek.

Number of bidders: 2
Sale price: Undisclosed

12 Stanley Street, Box Hill South

A prime investment opportunity or as a consistent source of cash-flow returning approximately $98,300 p.a. gross, this block of seven apartments boasts extremely low vacancy rates. Set on a quiet street with easy access to the supermarket, Aqualink, Box Hill's shopping district and job opportunities for tenants, there is huge scope to redevelop this site and build multiple townhouses (STCA).

Number of bidders: 9
Sale price: $2.246 million

327 Hull Road, Mooroolbark

Near Red Earth Community Park, this single-level brick veneer house occupies a block of 862 sq m approx. and presents opportunities for the first homebuyer, young family or those seeking to add value through subdivision (STCA). The light-filled home retains its original hardwood floors and an open fireplace, renovated to feature a fresh bathroom and modern, stainless steel-appointed kitchen. Congratulations to the vendor and successful purchasers!

Number of bidders: 3
Sale price: $720,000