4 hours Ago By Emily Power
A speedy auction of an upmarket Kingsville weatherboard on Saturday has netted a $1.46 million deal from a couple who are crossing the city. Four bidders, including young families seeking to step up from their current homes, tried their luck under the hammer at the lavishly renovated 63 Empress Avenue .
The rapid-fire auction was completed in five minutes. The contract was signed by a middle-age pair who are moving back to the area, venturing over the West Gate Bridge from East Melbourne, and engaged a buyers’ advocate to bid for them, agent Joseph Luppino of Village Real Estate said. The hammer fell at $1,469,000, against a reserve of $1.
4 million. Bidding opened at $1.35 million with an offer from the crowd, and quickly rose.
Four bidders competed for the weatherboard house. Credit: Photograph by Chris Hopkins One of the attractions of the property was the substantial amount of accommodation, Luppino said. “The slight rarity with this home is the fourth bedroom,” he said.
“There are a lot of beautiful homes in Kingsville, and many of them have three bedrooms and one bathroom, but this one has a proper fourth bedroom.” It was one of 1100 auctions scheduled for Saturday. In neighbouring Yarraville, developers beat first home buyers, attracted by the price guide of $940,000 to $1 million, which provided an “emotional” conclusion for a long-time owner.
The vendor lived at 34 Finlay Street for 37 years and raised a family there. The four-bedroom property will be enjoyed for now, but is a chance to be demolished. The 427-square-metre corner site was bought for $1,126,000, which leapt clear of the reserve of $1.
04 million. Of the five bidders, two were first home buyers, others were developers, and one was a family from the suburb. Jas Stephens Real Estate listing agent Elise Nemer said the buyer has a track record in development and will reside in the house for a period, before possibly knocking it down and rebuilding.
“It was very emotional for the vendor,” Nemer said. “From day dot she was going to sell no matter what, but for me, it was about giving her good closure.” In Essendon, the impeccable presentation of 32 MacKay Street pulled three bidders.
The neat-as-a-pin Victorian terrace bettered its reserve of $1.25 million to fetch $1,346,000. Woodards listing agent Craig Teal said the new owners are a couple in their late 60s from Kyneton, whose daughter lives near to their new address.
They wanted to be closer to their grandchildren, reducing commute time, and prioritised finding a Melbourne base that did not require any work. The underbidders were a couple looking to upgrade, and the third was a man who had cast a wide net in his quest to secure a property. He had been unsuccessful at auctions on previous weekends in Seddon and Malvern East and was left behind early in the bidding, Teal said.
With decorative fireplaces, a sky-lit living zone, landscaped garden and character throughout, the house was a turn-key proposition that had plenty of admirers during the campaign. “Everyone that came out to see the property said ‘wow’,” Teal said. “You love selling houses with a wow factor.
The emotional buyers get a buzz and that is what happened with the couple today.” In Thornbury, a typical California bungalow at 77 Rennie Street flew at auction, and sold for $1,415,000. The two-bedroom home was on the market at $1.
32 million. The buyer – half of a young professional couple – opened the action with a bid of $1.26 million, which was only $20,000 below the top of the guiding range.
This intensity and intent sent a warning signal to other prospective buyers, agent Gino De Iesi of McGrath said. The auction was a duel with one other bidder, who hung on as it trickled to increments of $1000 before the gavel dropped. “It was competitive and the guy who bought it was set on getting it – he was not going to stop,” De Iesi said.
The handsome art deco house had been held by the vendors for 13 years. It had abundant character, including a deep porch, a brick fireplace and banks of timber flooring, in a family-focused pocket near the Merri Creek Trail and CERES urban farm..
