Finance Property National auction numbers soar as Albert Park property brings out AFL’s elite

National auction numbers soar as Albert Park property brings out AFL’s elite

This house in Albert Park attracted some 350 viewers before auction. Photo: Marshall White
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Geelong AFL star Jimmy Bartel, his wife Nadia and son Aston, Essendon captain Dyson Heppell, St Kilda star Leigh Montagna and Western Bulldogs midfielder Mitch Wallis were all sideline spectators in the weekend Albert Park auction crowd.

They, along with 300 others on Page Street, saw three bidders compete for a big-ticket four-bedroom Victorian home.

Marshall White agent Oliver Bruce asked for an opening bid of $3.5 million but was immediately met with a $4 million offer from the eventual buyer. 

The four-bedroom home soared about $700,000 over reserve, selling at $4.735 million. Mr Bruce told the Herald Sun that the house, which includes hydronic heating, a powder room, auto blinds and skylights, audio wiring, outdoor shower and irrigation, was “the most inspected property” he’d ever marketed.

The property traded in 2013 at $2.31 million, before its rear extension and renovation.

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The home sold for $4.735 million. Photo: Marshall White
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Glamorous bathroom. Photo: Marshall White

Melbourne had the cheapest and dearest reported weekend auction sales.

A four-bedroom, three-level Malvern house sold for $5,075,000. The opening bid was $100,000 over the $4.3 million reserve.

The Spring Road property, with views to the Dandenong Ranges, comes with a home theatre, wine cellar, and lift access to a six-car garage.

The property was marketed through RT Edgar as the latest offering from home builders R & K Developers.

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The luxury residence in Malvern fetched more than $5 million. Photo: RT Edgar
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The house features a six-car garage with turntable. Photo: RT Edgar

A two-bedroom apartment at Mernda, which has been a $310 a week rental in the City of Whittlesea suburb, fetched $245,000.

Offered through Ray White, the Rowell Drive unit fetched less than its $295,000 off the plan price.

The auction price guidance had been $240,000 to $260,000 for the 70 sqm ground floor apartment that was completed in 2012.  

Sydney had the highest bid property, but the combined Paddington terraces did not sell, passed in at $8.1 million.

Set on 394 sq m on Paddington Street, there are 520 sqms of interior living space.

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One of Paddington’s most opulent and iconic homes set on 394 sqm land was passed in. Photo: McGrath
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The second level provides a formal lounge, office, bar, study and salon. Photo: McGrath

At Longueville, there was a $5,050,000 sale of the 1898 Federation four-bedroom home, Nirvana, owned by the late obstetrician and gynaecologist Rod Macdonald and his widow Robin.

The home sat on almost 1600 sq m on Mary Street.

Historic Federation home with serene water views
This historic Federation home, named Nirvana, with serene water views sold for over $5 million. Photo: McGrath

Back in Melbourne, the Toorak home of late socialite Lady Susan Renouf sold in a post-auction negotiations for around its quoted price of $5 million.

Across the capital cities, the number of properties taken to auction increased dramatically, with 3232 auctions held, according to CoreLogic’s latest report.

It was significantly higher than over the same weekend in previous years, with auction volumes generally reaching their seasonal peaks around March.

“The record highs for the number of auctions were confined to the Sydney and Melbourne markets, where auction numbers were the highest on record for the month of February,” said CoreLogic’s Kevin Brogan.

Despite the high auction numbers for February, the combined capital city clearance rate also reached a new record high over the year to date.

Some 78 per cent of auctions recorded a positive result, which is higher than the 71 per cent last year, across its lower volume of 2700 auctions.

Melbourne’s clearance rate rose to 80.1 per cent, up from 75.7 per cent last weekend. The city also saw a substantial increase in volumes, with 1613 auctions held, higher than the 1091 held last week and also higher than a year ago when there were 1347 auctions.

Sydney’s preliminary auction clearance rate increased to 81.5 per cent. Last week, it was 80.6 per cent. This week volumes were higher, up to 1169 from 856 last week.

There were 174 Brisbane homes taken to auction, with 99 results reported so far showing a preliminary clearance rate at 63.3 per cent, up from 47.1 per cent last week.

Brisbane’s priciest was when the restored home, Arden, in Ascot sold for $3.55 million through Ray White. The unrenovated 1913 home cost $2.25 million in 2006, when it was expanded to its 1460 sqm offering with an $800,000 purchase of a neighbouring 400 sqm block in 2013.

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Ascot, described as a one of a kind landmark family estate, has a resort-style pool and landscaped lush gardens. Photo: Ray White
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It even has its own library. Photo: Ray White

Adelaide saw a preliminary clearance rate of 76.3 per cent, with 80 reported results across a total of 121 scheduled auctions.

In comparison, over the previous week Adelaide’s clearance rate was 65.8 per cent and 64 per cent one year ago.

There were 46 Perth auctions this week, with a preliminary clearance rate of 21.4 per cent. Last week, 31.0 per cent of the 42 auctions held were successful.

Across Canberra a total of 100 auctions were held this week, compared to 92 last week and 75 at the same time last year.

Canberra’s preliminary clearance rate of 77.3 per cent is lower than the prior 80.2 per cent result.

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