Another historic home at 344 Beach Road in Black Rock also sold under the hammer for $4.6 million, after five bidders competed.
The auction for the five-bedroom, mid-century-designed property opened with a bid of $3.9 million, with bids of $100,000 rising in price rapidly.
The house listed for $4.4 million and sold for an additional $200,000 under the hammer.
Marshall White Port Phillip manager and auctioneer Oliver Bruce said the historic home had drawn a lot of attention from families in the area and a local family won the keys.
Buyers’ agent Greville Pabst, who attended the auction, said the house, reminiscent of Palm Springs, had a lot of history.
“Everyone who walked by the property today was in awe of the home’s truly unique style and features: There’s a blue bathroom with gold faucets that looks like something out of a 1970s gangster movie,” Pabst said.
“This sale represents the Melbourne two-speed market. Scarce, unique and newly renovated or newly built homes are driving the market right now which underpinned the strength of this result,” he said.
In Mount Waverley, a four-bedroom home at 27 Palm Beach Crescent, owned by the same family for more than 60 years, sold at auction for $1.5 million after two bidders competed fiercely.
There were 75 offers exchanged between the two, both young families, who were eager to get into the Mount Waverley Secondary College area, Eview Group director Nick Blow said.
The four-bedroom house was listed for $1.3 million, but the offer continued.
“Buyers will either rent it out initially and move in once their kids are a little older, or develop it before they move in, they haven’t decided yet,” Blow said.
Six bidders fought for a large family home on Lysterfield South, and the five-bedroom home at 25 Parkside Boulevard sold at auction for $2,062,500, $112,500 above the reserve.
Ray White Oakleigh sales agent Nick Strilakos said the winning bidders, a couple with a large family, made a final bid of $500 to win the keys.
Strilakos said well-presented homes were selling under the hammer and the market had improved in the last four weeks.
“July was pretty tough with the market adjusting, but it looks like August is getting back to normal a bit, there’s spirit in the market,” he said.
However, not all houses sold so easily. A tidy three-bedroom house at 32 Larch Street Blackburn drew a crowd of about 80, but only two bidders raised their hands.
The sold house eventually sold for $1.29 million, at the end of a slow auction. Bidding was opened with a vendor bid of $1.1 million, but was later halted as potential buyers hesitated.
Charging
After the auction resumed, bids rose to $1.22 million before the house was put on the market, Ray White Forest Hill agent and auctioneer Aaron McDonald said.
“The house was built by the owners in the 1960s, and they were hoping a young family would buy it and that was exactly the buyer,” McDonald said.
He said buyers were trying to use the market slowdown to their advantage, looking to get a better price than last year.
In north Melbourne, a two-bedroom row house at 2/6 Melrose Street sold for $1.158 million in a post-auction deal with the buyer, after moving into ownership.
Jellis Craig Fitzroy listing agent Johanna Doherty said that despite the large crowd, which included neighbors from the property, only one bidder came forward to make an offer.
The buyer, a woman looking for an apartment in the city, made the highest offer of $1.115 million before negotiations began.
“Sellers were happy after the sale,” Doherty said.
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