A home in Albert Park’s St Vincent Place sold for more than $11.1 million at auction on Saturday, the second week in a row that the exclusive street has fetched a sale at this level.
The six-bedroom residence at 53 St Vincent Place achieved a winning bid of $11.15 million – $1.65 million above the vendor’s reserve.
It was one of 1179 auctions scheduled in Melbourne on Saturday.
By evening, Domain Group recorded a preliminary clearance rate of 72.8 per cent from 857 reported results, while 86 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
In stark contrast to last weekend’s glorious sunny weather at the auction of 88 St Vincent Place North – which sold for $11.11 million – yesterday’s frigid conditions did not deter a rugged-up crowd of at least 200 who had turned up to watch the sale.
Hotly contested between three voracious bidders, the auction opened with a bid of $9 million – already above the price guide of $8 million to $8.8 million – which was quickly exceeded by a rival party.
At $9.5 million, auctioneer Greg Hocking of Greg Hocking Jellis Craig announced the grand 1870s-built Victorian home was on the market.
Bidding continued unabated, with one of the three prospective buyers dropping out about mid-$10 million, leaving just two parties.
Ultimately, the winners were the underbidders at last week’s auction a mere 280 metres down the road.
“I told him [the winning bidder] about the house before we went to market, and he said no, it didn’t suit,” Mr Hocking said.
“And then I saw he was the underbidder at last week’s auction at St Vincent Place North, and I came up to him after the auction and said – you’ve got to come and look at this property.
“He did, and one week later, he’s bought it.”
A few kilometres away in St Kilda West, a three-bedroom Edwardian house sold for an impressive $5.91 million.
The auction of 222 Canterbury Road was an intimate affair, held in the property’s neatly manicured backyard.
A small, socially distanced group looked on as two parties threw counter bids back and forth until only one bidder was left standing. Agents on the listing were Marshall White’s Oliver Bruce and Lisa Kosch.
Across town in Ormond, a three-bedroom Californian bungalow shocked onlookers when it sold under the hammer for $1.88 million, $230,000 more than the vendor’s reserve.
The unrenovated home at 28 Dalmor Avenue sat on a 628-square-metre block, and according to the selling agent Clare Adams of Woodards Carnegie, the final figure took everyone by surprise.
“It was a very strong result, considering it’s a completely original home with a heritage overlay – it’s a big-ticket,” Ms Adams said.
“The last home that sold in the street was just last month, it was in better condition, and it sold for $1.69 million.”
Ms Adams added the new owners, Melburnian expats currently living in Singapore, plan on renovating the family home with the intention of keeping it for many years to come.
In Melbourne’s north, an eclectic three-bedroom brick home in Brunswick sold for $1.961 million against a reserve of $1.73 million.
Attracting a crowd of more than 70 people, 80 Union Street caught the eye of five motivated buyers, with strong bidding taking place throughout the auction.
Selling agent Tom Roberts of Nelson Alexander Brunswick said the vendors were thrilled with the final figure and added that the new owners were already Brunswick locals.
“They live close by and know the area very well. They already own a place in Brunswick but are upsizing,” Mr Roberts said.
Another property that exceeded expectations was 114 Halsey Road in Airport West.
The three-bedroom brick home sold for $1,012,000, beating an already strong $950,000 reserve.
According to Anthony Elliott of Frank Dowling, three bidders vied for the 621-square-metre property, with the winning party hailing from the town of Beveridge, 42 kilometres north of Melbourne.
Mr Elliott said the new owners plan on renting out the 1970s-built home in the interim and may decide to either develop or demolish and build their dream home in the future.
A five-bedroom family home in Brighton East passed in on a vendor bid around the $2.35 million mark before selling by negotiation for $2,410,000. The reserve had been $2,425,000.
Despite two bidders pulling out at the last minute, the sale of 9 Parklands Crescent was still a great outcome for the vendors, Jacinta Cotton of Buxton Real Estate Bentleigh said.
Further down Melbourne’s coast on the Mornington Peninsula, a five-bedroom house in Rye attracted a multitude of bids from no less than five engaged parties, selling for $1.6 million – $175,000 above the reserve.
Bidding on 12 Austin Street started at the top end of its $1.4 million to $1.5 million price estimate, and despite the heavens opening shortly before the auction began, none of the interested parties were dissuaded by the wet, icy conditions.
Selling agent Jay Furniss of Belle Property Blairgowrie said it was yet another good result for Melbourne’s ever-popular Mornington Peninsula, which recorded a 19.6 per cent increase in its median house price to the end of 2021’s September quarter.