Melbourne auctions: Architect John Adam's former home sells under the hammer for $2.33m
An acclaimed architect’s mid-century home sold under the virtual hammer for $2.33 million on a day when few properties were auctioned in locked-down Melbourne.
It was one of 128 scheduled auctions on Saturday, a low volume even for the typically quiet winter period.
By evening, Domain Group recorded a preliminary clearance rate of 53.2 per cent from 63 reported results, while 46 auctions were withdrawn.
Of the auctions that did go ahead as virtual auctions, 67 per cent sold. Ten homes sold at auction, while four passed in.
The seven-bedroom compound, the home of the late John Adam, at 79 Lavender Park Road, Eltham, is an example of mid-century architecture, Buckingham and Company auctioneer and listing agent Stuart Buckingham said.
“John Adam did the build, that was his original home and he lived there,” he said. “[We had a] lot of clients out of those areas where they’re into that Robin Boyd-style of build.
“All the living zones and big windows all face north.”
Bidding for the home began at $1.9 million, at the bottom of the quoted price range of $1.9 million to $2.09 million.
After two dozen bids from four bidders, the house sold for $2.33 million.
Mr Buckingham said the buyers had specifically sought out the home because of its history, but the scattered, three-building compound featuring main house, separate office and extra studio, also suited their needs.
“They’re fans of the architect and design. It suited them with their teenage children and what have you,” he said. “The two buyers who bought it were in that age group that appreciate mid-century style.”
Earlier in Geelong’s Newtown, a townhouse with land at 13 Churchill Avenue sold to a couple from Torquay for $445,000.
Maxwell Collins auctioneer and listing agent Shaun Carrol said there had initially been interest from 13 buyers from Melbourne, but the strict stage 4 lockdown had nipped it in the bud.
“If they’re central areas we’ve noticed there’s increased buyer demand from Melbourne,” he said. “We did notice with this auction in the first week there was lots of interest from Melbourne buyers but when the restrictions hit they dropped off.”
Interest in regional listings has been rising, Domain data this week showed, with more buyers making plans to ditch city life because of the pandemic.
Ultimately just one bidder from Melbourne took part in the auction, with bidding opening at $350,000 for the three-bedroom home.
Five bidders participated, taking the price quickly past the reserve of $410,000 to the sale price of $445,000.
The buyers were planning to renovate the home and potentially rent it out, Mr Carrol said.
He added the pandemic hadn’t badly hurt the Geelong property market.
“It’s holding strong with the pricing. While there’s demand, prices have remained unaffected for us,” said Mr Carrol. “It will be interesting to see what happens in the next six months but we take it month to month.”
In a marathon auction which stretched over an hour and a half, an Oakleigh East brick home sold to buyers who had never set foot there.
The auction for 7 Patrick Street began below the quoted price guide, at $710,000.
Ray White Oakleigh listing agent George Midas was quoting $800,000 to $880,000.
Auctioneer Robert Cincotta began taking $500 bids once the price crossed $820,000, which soon broke down further into $100 bids.
After about 100 bids, the home sold for $895,100.
Mr Midas said interest in the home was stronger than it typically would have been, with 160 viewers tuning in to watch.
“You wouldn’t get those numbers at onsite auctions before restrictions. Buyers realise they can bid anywhere and if they aren’t successful at least they’re at home,” he said.
Using virtual inspections had been instrumental in getting the house sold during lockdown, Mr Midas added.
“In the end the buyers had actually never seen the home. Instead I took them through a virtual inspection which I filmed the day before Stage Four lockdown,” he said. “The virtual inspection was hugely helpful, I filmed it as if I was taking someone through the house and whenever anyone would enquire then I would give them the video.”
In Hadfield, another brick home sold under the hammer.
The three-bedroom home with a recently updated kitchen at 3 Eucra Street was listed for sale with a quoted price guide of $690,000 to $740,000.
Ray White Craigieburn listing agent Adrian Prestileo said the vendor was happy with the final sale price of $791,000, and would be moving back overseas to be with her family.
“There’s not too much available so buyers know they need to spend good money on these houses,” he said. “There were 13 registered bidders and five active on that, there was loads of interest and people really wanted it.”
Mr Prestileo said he was glad he’d pushed on with an auction, during the low-volume lockdown period.
“Some people are scared, withdrawing them and going for private sales,” he said. “We just do what works and follow the process.”
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