Clifton Hill townhouse soars $109,000 above reserve at election day auction

Fierce bidding unfolded for a cottage-style townhouse in Clifton Hill, with seven buyers jostling for prime position even on election day.

The two-level, two-bedroom home at 1/118 Roseneath Street had already proved popular during the four-week auction campaign, and was not eclipsed by the six-week political equivalent.

It was one of 369 auctions held in Melbourne on Saturday.

By evening, Domain Group had recorded a 62.8 per cent clearance rate from 278 reported results.

The first bid of $700,000 was initially declined but then accepted by Collins Simms auctioneer Antony Harbor, who quipped, “I think you’re about three years too late with that price” to the bargain-seeking bidder.

He then placed a vendor bid of $900,000, the bottom of the quoted price range. It was slow going until the price passed the reserve of $951,000. Dozens of rapid-fire $1000 increments then pushed the price to $1.06 million.

“It ended well over $1 million so it’s a reflection of how good the house was and how popular it was from day one,” selling agent Nicholas Corby said. “We knew they were interested but we weren’t sure how high they were prepared to go under competition.”

It sold to a couple, who had brought their young child with them to the auction. The vendors were selling to upgrade to a bigger house, as their growing family had become too big for two bedrooms.

Part of the property’s allure was the potential to snag a home in the sought-after suburb of Clifton Hill for less than or about $1 million. Mr Corby said more buyers still had been waiting in the wings to see if it would pass in.

“The banks are making it a bit hard for us at the moment across the board,” he said. “There were about three people here who couldn’t bid because they couldn’t get their finances organised.”

Later in the eastern suburb of Vermont, an older three-bedroom home was also well received by buyers, surpassing its reserve by $57,000.

Ray White agent Jay Warnak said 12 Delatite Court was popular, drawing six bidders.

“It has a cottage feel, clinker brick home. It’s a gardener’s home without having overgrown trees and it’s perfect for a young family,” he said. “It might need some renovation and might get developed in the years to come but it has street appeal, a lovely quaint feel.”

Bidding opened at $600,000 but quickly reached the reserve of $780,000. It sold to a local family for $837,000.

“They were buying for the school zone and the six families wanted it because it’s in a court, and it was fairly priced too,” Mr Warnak said.

“It wasn’t exorbitantly priced at $837,000.”

In Eltham, a quirky home on a large, private block sold under the hammer with a large crowd for the leafy suburb.

The auction at 19a Falkiner Street suffered from a couple of buyers pulling out ahead of Saturday, but still managed a solid result, Barry Plant agent David Gyton said.

He said the three-bedroom home on more than 3500 square metres of land had a lot of character.

“We used to have a lot of these types of houses in the old days and they’re hard to find nowadays on a good bit of land.”

Bidding opened at $920,000 and reached $940,000, where the auction stalled. From there vendor adjusted the reserve and the home sold.

The advertised price guide was $950,000 to $1,045,000. Mr Gyton said the vendors were happy with the price.

“They’re very happy, they’re going up to the country and they’ve already bought.”

Earlier in Heidelberg Heights, a two-bedroom townhouse passed in with one bid.

Nelson Alexander agent Gordon Hope said 4/5 Dickens Street had interest from first-home buyers, who had been shy at auctions in recent weeks.

“I think it’s like anything at the moment at that price point. The younger ones are always a bit cautious, especially with their parents advising them,” he said.

The auction opened at $430,000, and the one buyer placed a bid at $435,000 but did not buy the home after it was passed in to them.

Mr Hope then placed on the home on the market with an asking price of $455,000. Its quoted price range prior to auction was $420,000 to $460,000.

He said the home had some standout features for the area, and that he had sold two-bedroom units in the same suburb for about $450,000.

“It has a nice little backyard and really high ceilings that add a lot of natural light.”