Quiet Confidence Dominates Auctions
Quiet Confidence Dominates Auctions
Shy bidders lurked in the background of Melbourne’s Inner West over the weekend but when they stepped out of the shadows, auctions were excitedly brought to life. Compton Green celebrated an impressive clearance rate of 80% as interested parties were clearly prepared to bid with a strong fighting spirit.
At 292 Francis Street in Yarraville, one car drove past before the auction and humorously yelled out a bid of $10 to secure this property and this caused a roar of laughter from the crowd of approximately 30 people. Auctioneer, Adrian Butera kept highlighting the affordability factor and this was a recurring theme throughout the auction. “I can’t summarise it any better other than saying that today is an affordable opportunity. We are here in the heart of Yarraville where schools are just around the corner and are only a few hundred metres away. Whether you’re an investor or after an owner occupier opportunity, affordability is the key word. There’s also a planning permit to do a dual occupancy if you want to,” he said. The first hand shot up and placed a bid of $470,000 and then the bidding war began between two interested parties who were clearly vying for this property. $480,000 was called out from one couple but negotiation took place afterwards as this home sold for $550,000 while the marketed price was between the price range of $470,000-$510,000.
Sitting opposite a soccer field, a spacious family residence positioned at 16 Allan Street in Altona North sparked a high amount of interest throughout the campaign. The flexibility of two inviting living areas and a rumpus room immediately established the sense of size as the land spanned approximately 553m2. Multiple bidders enthusiastically joined in and this sought after property successfully sold for $490,000 while the marketed price quote was between the range of $450,000-$490,000.
Sales Executive, Julie Standen had 12 groups through her open for inspection at 63 Rifle Range Drive in Williamstown and provided an expert glimpse into what lies ahead. “Today we had a private auction and a number of properties also sold before auction. Buyers are continuing to soak up the supply and the market in one word can be defined as active. Low interest rates have fuelled the market and the next few weeks are going to be busy. This is a positive lead into Winter,” she said.
Have you booked a seat yet?
Confidently step into the auction battle armed with clever strategies so that you are the last one standing! Our informative evening which is directed by respected Auctioneer, Adrian Butera will guide you through the fundamentals so that you can come out as a winner on the big day.
“Bidding at auction can be nerve racking and while it comes down to who is willing to pay the most for a home, sometimes the way you bid can really influence just how high the other bidders will go.”- Director of Compton Green, Adrian Butera.
When: Tuesday, May 27th 2014 at 6:00pm – 7:00pm
Where: Our office. 116-118 Somerville Road, Yarraville.
To secure your seat, please email [email protected]. Bookings are essential!
