HAMPTON – is located approximately 14 kilometres south east of Melbourne CBD with Beach Road being a very popular cycling route which follows the beautiful coastline all the way down to Portsea.
Along with the amazing bike trail that follows the coastline there are plenty of great swimming areas that feature picnic areas with barbeques, garden areas quite the perfect spot to relax on a warm afternoon.
You will find numerous shops on along Hampton Street, with shops such as restaurants, bistros, clothing and antique stores with many more to treat everybody. There is another shopping strip, Bluff Road, however, smaller in comparison.
Buyers were out in large numbers on the final weekend of the financial year. A clearance rate of 73 per cent was achieved from 181 auctions this weekend, with 133 properties selling and 48 being passed in, 15 of those on a vendor bid. There were an additional 370 private sales reported.
Only a relatively small number of auctions were held in Melbourne this week, due to the combined impact of the school holidays, the federal election and winter conditions.
In June, a new record was set for a single weekend with a total of 993 auctions held – 40 more than the previous record. This capped off a solid end to the financial year for Melbourne’s auction market.
1/88 Queens Parade, Fitzroy North. Sold for $1,135,000
Perched at the edge of Edinburgh Gardens close to Clifton Hill and Carlton North, this modern, tri-level townhouse was hotley contested amongst four bidders. With 3 bedrooms and the rarity of three, possibly four parking spaces, this low maintenance home had a price guide of $880,000 to $950,000. Bidding began at $750,000 and quickly rose with more bidders joining in as it cleared it’s reserve of $980,000. The price sailed past the $1 million mark and the hammer was brought down at $1,135,000.
10 Spring Street, Coburg. Sold for $662,000
A one-bedroom house near the Merri Creek trails in Coburg attracted three bidders to the auction on Saturday. With polished hardwood floors throughout, a large bedroom and plenty of north facing backyard space, the property would be an attractive purchase for developers, investors or single buyers. The auctioneer fielded bids from three separate parties who helped push the price past the $590,000 reserve. The entry level home, on approximately 390 square metres of land, eventually sold for $72,000 above the reserve for $662,000.
62 Iluka Avenue, Aspendale. Sold for $713,000
Set on approximately 536sqm of land, the existing three bedroom 1970s property is in need of a major renovation. Located within walking distance of the beautiful foreshore, shops & train station or a stroll to either Aspendale or Aspendale Gardens Primary School this family-friendly location offers easy access to it all. Two bidders were willing to take on the opportunity that this property presents. But the price quickly rose past the quoted $575,000 to $630,000 and the hammer was brought down for $713,000.
The Melbourne auction market had an impressive return to form after the Queens Birthday weekend break. A clearance rate of 72 per cent was achieved from 893 auctions this weekend, with 533 properties selling and 247 being passed in, 98 of those on a vendor bid. There were an additional 275 private sales reported.
This weekend, the competition at auctions was particularly strong, with buyers fiercely bidding for quality properties that are currently in short supply in sought after areas.
Popular with buyers are the “move right in” properties that have been renovated or extended; or even properties that provide potential for redevelopment. Many of the auctions for these properties had three or more bidders, which is always a good indication that there are not enough properties available to meet the demand.
With such high auction volumes for late June, the next couple of weeks in Melbourne will be extremely interesting to watch. Such an influx of high auction numbers would provide strong opportunities for buyers. Melbourne will see one of the biggest ends to the financial year on record, with close to 2,000 auctions scheduled in the next two weeks.
Next weekend there will be an expected 920 auctions held in Melbourne ahead of the Victorian school holidays and the upcoming Federal Election.
658 Lygon Street, Carlton North. Sold for $880,000
This classic single-front Victorian on the edge of the city attracted many admirer’s before the auction. Multiple bidders were involved in the auction for this two large bedroom home with period-inspired bathroom complete with clawfoot bath, central lounge and updated kitchen/meals area. A vendor bid of $750,000 kicked off proceedings, and two parties immediately started trading $10,000 bids, then $5,000 bids until the price reached $800,000. A third bidder then joined in with $1,000 rises until they were eventually beaten by one of the first bidders, who acted on behalf of a contact via a phone.
2 Forrest Street, Yarraville. Sold for$1,224,000
A double-fronted Victorian in the heart of Yarraville with an asking price of $900,000+ attracted some hot competition at the Saturday auction. A vendor bid of $900,000 stirred the serious buyers to put their hands up, and three bidders were in the mix by the time the price reached $940,000. An investor went head to head with another fierce bidder with $5,000 increments helping the price reach the reserve of $1.09 million. But it didn’t stop there. Two new contenders attempted to win the keys, but it was an investor who secured the contract with a final bid of $500 more than his opponents, and $134,000 above the reserve.
5A James Crescent, Hampton. Sold for $1,271,000
Five bidders slogged it out to try and grab their own piece of the family friendly bayside suburb of Hampton. On offer was an enchanting three bedroom, 2 bathroom home fronting a quiet crescent with a high-gabled attic-style design …and located with a frontage on Thomas Street park with a sun-catching north-westerly aspect. With five bidders pushing the price of this weatherboard home up to $171,000 above the reserve, the property sold to a local buyer returning to the area after working overseas.
Heidelberg is located approximately 13 kilometres north-east of Melbourne CBD and partially boarders with the beautiful Yarra River.
Along the Yarra River, you will find ample walking trails with some that can keep you walking or running for kilometres. There are also play grounds and recreational areas along the way such as tennis courts and football ovals for the athletics.
Burgundy Street is one of the main streets that run through Heidelberg and where you will find health care institutes such as the Austin Hospital, Mercy Hospital for Women and the Warrigal Private Hospital and when you venture further along the road you will hit an array of restaurants and cafes.
If you are interested in Art or enjoy learning about Australian history stop by the Heide Museum of Modern Art, which began in 1934. It is now home to beautiful gardens which incorporate a sculpture park, the main collection and a range of exhibitions feature her
Low interest rates have enticed more first-home buyers to become active in the Melbourne property market this weekend. A clearance rate of 76 per cent was achieved from 747 auctions this weekend, with 565 properties selling and 182 being passed in, 78 of those on a vendor bid. There were an additional 361 private sales reported.
Entry level properties for under $700,000, which are always popular with investors and first-home buyers have seen some hot competition since interest rates were lowered last month, the northern and southern parts of Melbourne received the most attention from buyers this week.
As next weekend contains a public holiday for the Queen’s birthday, there are only 261 auctions scheduled.
3/78 William Street, Brighton. Sold for $800,000
Overlooking the leafy William St Reserve, this unrenovated two bedroom unit was under executor’s instructions to sell. Six bidders braved the rain to compete for their own piece of the Brighton landscape, and helped the price soar well above the $650,000 reserve. A young couple from Bayside eventually outbid all competitors to gain the keys for $800,000.
18 Autumn Street, Coburg. Sold for $1,211,000
This masterfully renovated four bedroom, two bathroom single-level family residence attracted quite a crowd to the auction. With an asking price of $900,000 to $950,000 the property was hotly contested by young families. Bidding began with an offer of $900,000 and continued with one bidder slowing the pace of the auction with rises of only $1000. The home eventually sold for $90,000 above the reserve to a family who had been in the auction from the start with a final bid of $1,211,000.
11 Prentice Street, Elsternwick. Sold for $2,000,000
Thoughtfully renovated and extended (and in keeping with its Edwardian origins), this superb family home reveals amazing accommodation and flexible living in this prestigious residential position. The 4 bedroom home was extended 6 years ago to add on a fifth bedroom or additional living area, an addition that helped the price range reach $1.65 to $1.75 million. The opening bid of $1.85 million from a family was upped by another buyer who quickly took the price to the reserve of $2 million, where it eventually sold.
This small suburb is only 5 square kilometres and it’s a hop, skip and a jump from Melbourne CBD making this the perfect location to live, to work and of course to socialise!
This small suburb is filled with many different cultures and it is interesting to know that only approximately 50% speak English at home. This once well-known suburb for its ever alarming crime rate is well on its way to a complete 360 with people flocking to the suburb wanting to scoop up available real estate at alarming rates!
If you are looking for somewhere to grab a bite to eat or coffee, perhaps one of the 130+ restaurants/cafes could satisfy your needs and whilst wondering through the streets of Footscray, don’t forget to look around and admire the amazing graffiti art.
Footscray is also home to many wonderful and well known icons, such as the Heavenly Queen of Footscray, the Western Bulldogs, Franco Cozzo and the Melbourne Market which has been home for many fruit, flower and fish traders for over 50 years until its recent relocation to Epping – but what will become of this valuable land site and the iconic signage?
Melbourne’s market is dividing further into a two-speed market, with house sales soaring higher than apartments. A clearance rate of 74 per cent was achieved from 934 auctions this weekend, with 692 properties selling and 242 being passed in, 107 of those on a vendor bid. There were an additional 361 private sales reported.
Houses in Melbourne are performing better than apartments in the current market. As Kim Easterbrook discusses in The Age on Sunday’s Domain, villa units are the one exception to this trend. Villa units broadly appeal to downsizers, investors and first-home buyers.
The eastern suburbs, particularly the outer east is not seeing as much activity as they used to, as results from other regions outperforming the east more regularly.
Sunshine North achieved its first million dollar house sale, beating the suburb’s previous record of $945,000. While in Brighton, a new record was achieved when four local bidders helped reach the sale of a Dendy Beach bathing box selling for $307,000.
There is an expected 843 auctions to be held next weekend.
5/33 Gnarwyn Road, Carnegie. Sold for $632,500
Conveniently located close to Koornang Rd shops, the train and tram, parklands, schools and Chadstone Shopping Centre, this renovated 2 bedroom villa attracted a crowd of 45 to the auction on Saturday. The opening bid of $500k was met by another party who offered $10k more, and the two took the price up to $600k when a 3rd bidder joined in. The property had a quoted price of $580k to $620k, and was on the market at $630k before selling at $632,500 at this straight-forward, non-referral auction.
169 Were Street, Brighton. Sold for $4,400,000
The auction for this grand family home with four bedrooms plus a home office and brilliant entertaining area was held indoors due to the rain on Saturday. The opening bid of $3 million was rejected by the auctioneer, and another party put their hand up with a real bid of $4.25 million for the 3 level home. The two bidders continued battling it out, until the property was announced on the market at $4.4 million, and it sold for the same price, with no further bids forthcoming.
9 Beckley Street, Coburg. Sold for $1,370,000
A crowd of 60 gathered in the light rain to watch the auction of this Californian bungalow, which held a price guide of $1.1 million to $1.2 million. The first offer for the 3 bedroom home filled with natural light was $1.1 million, and this was met by a rise of $10,000 from a young couple. The two parties battled it out in $10,000 increments until $1.31 million when a third would-be buyer joined in. The young couple won the rights to the keys with their final bid of $1.37 million.
“Hi, It’s David Easterbrook with the Elite Buyer Agents Market Wrap
This weekend there were 934 auctions of which 74% sold. Melbourne is currently experiencing a two-speed market, houses and villas are outperforming apartments and town houses.
The auction of 3A Cowra Street, Brighton demonstrated how popular villas are. The competitive auction attracted 8 bidders and sold for $1.425 million which is $425 thousand over reserve.
Our tip for the week: the key to a great property is scarcity and location, shy away from properties of high supply such as off the plan apartments and town houses, apartments and town houses can be a good investment but look for location and x factors such as irreplaceable architecture and private outdoor areas.
I’m David Easterbrook, remember at Elite Buyer Agents – We’re on your side.”
St Kilda is a small suburb of around 3.2 square kilometres, even though it is small it is extremely well known and conveniently located just 6 kilometres south east of Melbourne CBD.
St Kilda is filled with cafes, restaurants, clothing boutiques, medical services and supermarkets. Two well-known streets are Acland Street and Fitzroy Street, when in Acland Street, call past The Acland Cake Shop – you will not be disappointed. St Kilda features many iconic locations and to name a few there is Lunar Park, St Kilda Sea Baths, St Kilda Botanical Gardens, St Kilda Marina and a popular restaurant overlooking the ocean, is called Riva St Kilda.
With the ease of public transport at your fingertips, St Kilda has everything that you need to owner occupy or invest!
“This weekend there was 631 auctions of which 75% sold with 40% less auctions as the same time last year, we are seeing consistent clearance rates in the 70s indicating a steady market
Family’s upsizing and older buyers downsizing are making up the majority market. Lower than ever interest rates are keeping home buyers interested in purchasing, the lack of quality stock on the market is contributing to runaway results of quality properties in the sub one million dollar price bracket.
Also the looming election is causing uncertainty for investors due to the hot topic of negative gearing. Our tip for the week – sellers can seal problems, they rarely fix them, always get a building inspection before buying, know the defects and allow for them in your price.”
