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Melbourne real estate: Livestreams and rolling updates from the property auction market


Melbourne is expecting its biggest auction weekend ever, with thousands of homes set to go under the hammer.

Melbourne is slated for its biggest auction week ever, with about 2000 properties set to go under the hammer, according to the REIV.

The current highest auction week was in December last year, with 1870 recorded results.

Homes going under the hammer this weekend we will be watching are a three-bedroom, Californian-style bungalow in Coburg, just opposite Coburg North Primary School at 6 Jersey St.

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Herald Sun Real Estate auction blog: Livestreams and rolling updates from the auction market

Barry Plant’s Sam Gotzilianis said he is hopeful the 495sq m home will sell within its $1.16m-$1.21m price range, with three parties showing strong interest.

He said that most of the inquiries had come from first home buyers, young professionals and families.

“They love the location, and the beautiful, original features like the high ceilings,” Mr Gotzilianis said.

“It’s got a nice homey feel to it, and it’s not something you need to do a lot of work to, you can enjoy it for what it is.”

Also going to auction on Saturday is 7 Welford St in Tarneit, which has an affordable $710,000-$770,000 price tag.

Ray White’s Petar Krnjeta said it was “looking like a really great auction”, with six bidders registered, all of who are families.

“There has been a lot of interest due to its proximity to the train station and local school zones,” Mr Krnjeta said.

“We’re anticipating it will sell in the high $700,000’s-$800,000’s.”

And at 2/393 Barkly St in Brunswick, a four-bedroom converted warehouse apartment is set to sell within its $1.85m-$2m price guide, with Jellis Craig agent Greg Cusack expecting a large crowd and at least three strong bidders.

AUCTION REPLAYS AND RESULTS

REIV president Adam Docking said there was an 80 per cent clearance rate this time last year, and was confident we would see record numbers this week.

“There’s still a lot of strength in the market, and we’re seeing solid numbers,” he said.

“We’re finding there are still a lot of listings, and we’re expecting more after Easter and once we’re out of the election period in May.

Mr Docking added that numbers will be strong going into June, with winter being the second best time to sell, as “buyers are out in full force.”

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emily.holgate@news.com.au

Originally published as Herald Sun Real Estate auction blog: Biggest auction weekend ever on the cards with 2000 homes going under the hammer



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