Auction round-up: South Melbourne stunner smashes reserve as Autumn market heats up

A classic, double-fronted, Victorian residence in South Melbourne has sold at auction for $4.010 million, well above its listed price guide of $3.3 to $3.45 million.

The four-bedroom, two-bathroom home at 80 Nelson Road attracted four bidders, with two of them battling it out until the very end.

Selling agent Hamish Palmer-Hill from Abercrombys said it was a competitive auction with the final and winning bid placed by a local resident.

Mr Palmer-Hill said the surprising sale price was reflective of a more positive start to the year in the Melbourne market.

“It’s a lot more positive than the end of last year. Though it seems to be a bit more patchy,” he said.

“Contradictory to this sale, we are finding that homes at a slightly lower price point are doing well. I think people in that market feel they have to buy rather than keep spending all that money on rent,” Mr Palmer-Hill said.

“Buyers looking above $4 million are a bit more picky and they want a home that has been renovated and things like that,” he said.

The home, which last sold in 2009 for $2.23 million, was one of 1,249 homes taken to auction in Melbourne this week, up from 1,192 last week.

Melbourne’s preliminary clearance rate came in at 70.6 per cent, up from 70.3 per cent last week, which revised down to 63.8 per cent on final numbers.

115-year-old Geelong home sells at auction

And in Geelong West, a four-bedroom, one-bathroom period home has sold for $1.160 million.

Set on an expansive block of 544m2, and with two street frontages, the character home is positioned in a prime location, just a short walk from Packington Street.

Records show the period home at 46 Candover Street, which was built in 1910, last sold in 2001 for $188,000.

Sans Souci coastal beauty attracts six bidders in Sydney

A newly built, two-storey home in the peninsula suburb of Sans Souci in Sydney attracted six active bidders desperate to call the coastal haven home on Saturday.

The auction got underway with a bid of $3 million for the light-filled, modern home with five bedrooms, four bathrooms and a swimming pool.

But there were plenty more bids to come for the stunning residence at 33 Kendall Street.

The final bid of $3.820 million was placed by a family from the Sutherland Shire, who had already sold their previous home and were looking to secure their next one.

The home was one of 2,435 capital city homes taken to auction this week, down just slightly from 2,472 week-on-week.

This time last year was the week leading up to Easter, so auction activity was much higher across the combined capitals, with 3,519 auctions held.

Selling agent Robert Juric of Mcgrath Sans Souci said he had a mix of potential buyers interested in the property.

“There were three main things that generated the amount of interest we had. The house itself is just eight months old and is phenomenal; it’s a fantastic lifestyle suburb that is appealing for families; and it backs straight on to a park, with direct access,” he said.

Mr Juric said the Sydney market was performing well, particularly in the sub-$2 million category.

“More affordable stock, under $2 million, is selling really well. That market is very strong, however the luxury home market has pulled back a little bit since last year,” he said.

There were 837 homes taken to auction in Sydney this week, down from 893 last week.

The preliminary clearance rate slipped to 69.1 per cent, after holding above the 70 per cent mark for the past six weeks. Last week’s preliminary clearance rate came in at 71.4 per cent, revising down to 64.3 per cent on final numbers.