• October 25, 2014

Auction Bonanza Hits Inner West

Melbourne set a new auction record this weekend as more than 1,600 homes were tested under the hammer. RP Data Victorian spokesman Robert Larocca said in news.com.au that the final weekend of October had ridden to the forefront of the Melbourne auction calendar as vendors moved to get in before the Spring Racing Carnival. “What we are seeing is that this weekend at the end of October has become the biggest weekend of the year for auctions and that looks to be the case this year,” Mr Larocca said.

Contrary to the media speculation that the property scene may soon fall into a doom, Compton Green is experiencing a strong and robust market. This weekend’s hot spots included Williamstown, Footscray and Newport where an increase in demand from buyers intensified.

At 14 Bates Drive in Williamstown, uncompromised family living takes centre stage in this Rifle Range home set in a beautifully quiet pocket. The auction started by Nathan Johnson announcing a vendor bid of $790,000 and seconds later multiple bidders pulled themselves into action. This property sold for $911,000 while the marketed price was $780,000 plus.

Hidden away in Williamstown’s heartbeat, 62 Cole Street is where time stands still and lifestyle priorities work in unison. The historical Nelson Place, restaurants, cafes, Williamstown Beach, the Botanic Gardens and local shopping are only a short stroll away so entertaining city edge lifestyle desires is a certainty. In this cul-de-sac, the lengthy auction was defined by persistent bidding. The price for this two bedroom (possibly third bedroom due to the mezzanine) soared to $833,000 while the marketed quote range was in between $700,000-$770,000.

Compton Green Director and Award Winning Auctioneer, Adrian Butera shared advice if you have missed out on finding a home amongst the 1,600 for sale this weekend. “Stay patient and perhaps even widen your search. Next week, we are holding a How to Bid at Auction Information Evening where I share tips so that you stand out from the pack. I highly recommend that you attend!” Find out details: https://www.facebook.com/events/477366479072240/

Other sold properties includes: 2/19 Stanlake Street, Footscray sold for $540,000, 145 John Liston Drive, Newport – $642,000, 148 Melbourne Road, Williamstown (undisclosed) and office building – 14/180 Fairnbairn Road, Sunshine West – $392,500.


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