Mid-century Melbourne home with one owner sells in massive auction weekend
A mid-century home in a sought-after bayside suburb sold for the first time since the 1950s, with the buyers making just one bid to win the keys at the weekend.
The property at 10 Hardinge Street, Beaumaris, in Melbourne’s south-east, had been owned by the same family since 1952. It sold for $2,035,000 under the hammer as part of a deceased estate.
Hodges Real Estate Sandringham selling agent Nick Sinclair said the buyers, a young family who lived outside the area, were one of seven bidders on the day. Their one and only winning bid smashed the $1.65 million reserve by $385,000.
“It was hotly contested by families wanting to tear down the original home and rebuild a forever home,” Mr Sinclair said.
The sale was one of the biggest at the weekend, in which Melbourne’s preliminary clearance rate was 76.5 per cent, and another so-called Super Saturday of more than 1000 auctions was held.
There were 1248 auctions scheduled with 938 results reported by Saturday night. Sixty-three properties withdrawn from auction were counted as not being sold as part of the clearance rate.
Although the Beaumaris home sold strongly under the hammer, another home in nearby Sandringham passed in before selling in a post-auction negotiation.
The five-bedroom home at 11 Jennings Street sold for a huge $4.2 million after passing in with a bid just above $4 million.
Buxton Real Estate Sandringham director Mark Earle said there were two bidders on the home – both families — with one from the local area and the other from outside the sought-after suburb.
He said the home, which had a pool in the front yard, did not appeal to every buyer.
“The configuration they had wasn’t ideal for everyone,” Mr Earle said.
A few kilometres away in Hampton, a four-bedroom home at 65 Orlando Street sold under the hammer for $3.07 million, well above the price guide of $2.4 million to $2.5 million.
Mr Earle, who also helped on the sale, said a family snapped up the home, beating four other bidders.
“I’m definitely finding buyers are being a bit more measured than a couple of months ago but AAA-grade homes still have a lot of competition,” he said.
As bayside homes were snapped up by Melburnians, a coastal home at Barwon Heads sold to a farmer for $3.9 million.
He was one of two bidders at the auction, snapping it up for $400,000 above the reserve.
The four-bedroom house at 1-3 Taits Road achieved a record auction result for the Bellarine Peninsula. Bellarine Property director Levi Turner said the home, which had been owned by the same vendors for 25 years, had been renovated over the years.
The vendors would now be looking to downsize in nearby Geelong, he said.
“For us, the market hasn’t slowed down at all. In Barwon Heads, we are actually auctioning more properties than before,” Mr Turner said. “We’re auctioning around 30 per cent of properties now when it used to be around 5 per cent.”
The market remained tight, particularly in Barwon Heads, where there were only six properties for sale.
Much closer to the CBD, in South Melbourne, a three-bedroom home sold under the hammer for $3.35 million.
The Victorian terrace at 36 Ferrars Place drew competition from two families. Both had fallen in love with the property, Greg Hocking Holdsworth director and auctioneer Simon Gowling said.
A family from Frankston planning to move much closer to the city were the buyers.
“The amount of people looking at property in Albert Park, Middle Park and South Melbourne from out of the area has really grown since COVID-19,” Mr Gowling said. “It’s normally locals, but that’s changing.”
In Melbourne’s east, a three-bedroom property sold for $452,000 above the reserve, fetching $2,452,000.
The home, at 6 Eurolie Street, Balwyn North, was nabbed by a family keen to get their children into the local high school zone.
Like the home in Beaumaris, the property had only had one owner for more than 60 years, and was sold as a deceased estate.
Fletchers Balwyn North director Daiman Kane said four bidders fought hard for the property, and the buyers are looking to knock down and rebuild.
“The young family that bought it are looking to build their dream home and send their kids to Balwyn High School,” Mr Kane said.
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