A local owner-occupier paid $1,252,000 at auction on Saturday for a Port Melbourne house with an architecturally designed fissure in the facade.
asserted
occupier → pay → facade
The striking two-bedroom home at 29 Little Cruikshank Street was designed by architect Robert McIntyre and features cedar beams and soaring ceilings in the living area with floor-to-ceiling windows looking out to the courtyard and garden.
It was one of 553 properties scheduled to go to auction in Melbourne last week.
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It → design → Melbourne
By Saturday evening, Domain recorded a preliminary auction clearance rate of 53 per cent from 385 reported results throughout the week, while 59 auctions were withdrawn.
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auctions → record → week
Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
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auctions → withdraw → rate
It was the first weekend where all vendors were required to make their reserves public at least seven days before auction day.
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reserves → require → day
The Port Melbourne house, in the industrial modernism style, has a concrete and fibreglass facade and attracted interest from serious buyers and curious visitors during its sales campaign.
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house → have → campaign
It was listed with a price guide of $1 million to $1.1 million on a Wednesday and received an offer on Saturday of the same week, Marshall White Port Phillip selling agent Nicholas Hoo said.
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Hoo → list → week
So the guide was updated to a reserve price of $1.12 million, the same as the offer, and the auction was brought forward.
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auction → update → offer
Four bidders, all locals, competed in a fast auction, beginning at $1.12 million and rising in a mix of $10,000, $5000, $3000 and $2000 increments.
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bidders → compete → 10,000
A local owner occupier won the keys at $1,252,000.
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occupier → win → 1,252,000
The vendors will upsize.
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vendors → upsize → ?
“It was a really unique offering to the market,” Hoo said, highlighting the car parking and the warehouse style.
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Hoo → say → parking
“It certainly did attract a lot of views because of the facade.”
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It → attract → facade
Hoo said the market is improving slowly, but is fragmented.
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market → say → ?
“In Port Phillip we have got a chronic undersupply of properties.
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we → get → properties
There is not much stock and we have a lot of people that still want to live here,” he said.
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he → be → people
In Cheltenham, a young family buying their first home paid $1.3 million for a well-kept house on a 608-square-metre block.
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family → buy → block
The four-bedroom home at 5 Eila Close came with bay windows, two bathrooms, a fireplace and solar panels.
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home → come → windows
It had a published reserve of $1.35 million and one bidder at auction.
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It → have → auction
The eventual buyer began the auction with a $1.25 million bid, which was countered by a vendor bid of $1,275,000.
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which → begin → 1,275,000
He made one more bid at $1.28 million, but with no further offers, the home passed in.
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home → make → offers
It sold in post-auction negotiations at a $50,000 discount from the reserve.
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It → sell → reserve
The vendors have built two townhouses nearby and will move there, Lewin Real Estate Kingston/Bayside selling agent Brian Lewin said.
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Lewin → build → townhouses
“The market is okay,” he said.
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he → say → ?
“Numbers coming through open for inspections are down.
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Numbers → come → inspections
In Greensborough, a first home buyer paid $635,000 for a bright villa unit, paying $15,000 above reserve in a competitive auction.
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buyer → pay → auction
The two-bedroom home at 1/37 Warwick Road attracted four registered bidders, all first home buyers, of whom two participated.
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two → attract → whom
Bidding began at $580,000 and rose in increments of $10,000 to $610,000.
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Bidding → begin → 610,000
The stride then shortened to a mix of $5000, $2000 and $1000 bids, passing the reserve price of $620,000.
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stride → shorten → 620,000
The hammer fell at $635,000.
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hammer → fall → 635,000
The vendors once lived in the home but more recently had leased it out, Jellis Craig Greensborough and Hurstbridge selling agent Daniel Cobern said.
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Greensborough → live → it
He described the market as inconsistent.
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He → describe → market
“We have got some properties that are getting really good numbers at open homes,” he said, but others were struggling.
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others → get → homes
The Aporia
