A stylish Greenvale house inspired tears when it sold for $1.1005m, a massive $125,000 above the owners’ price hopes on Saturday.
Barry Plant Craigieburn sales manager Damien Crivell said the pre-auction $800,000-$880,000 listed range for 4 Silvan Terrace was comparable to other recent four-bedroom homes sales in the area.
A $850,000 bid started the auction, as four bidders drove the property’s price “well above expectations”.
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Mr Crivelli said the owners of more than 10 years were a wife, who is an interior designer and a husband in construction.
They had renovated the “stylish and quality” abode.
“It’s the sort of home that looks like it belongs in Essendon, its features, fittings and finishes are not something you see a lot of out here,” Mr Crivelli said.
“The sellers were ecstatic, there were a lot of tears.”
The Real Estate Institute of Victoria recorded a preliminary 62 per cent clearance rate from 403 results available out of 617 auctions held last week.
In Melbourne’s east, five bidders competed for the keys to 11 Highmont Drive, Vermont South, which sold for $1.74m, a sum $240,000 above the $1.5m reserve.
Harcourts Vermont South managing director Jimmy Lu and auctioneer Andy Reid the five-bedroom home’s sale illustrated that modern family homes remained popular.
“I think the market did drop a little bit but this is a very good example that shows for somewhere with a good interior and location for the family buyer, the market is still there,” Mr Lu said.
A circa-1958 house at 40 Marchiori Rd, Blackburn North, sold for $1.055m.
Jellis Craig Whitehorse agent Christine Bafas said the vendor’s father built the four-bedroom house 62 years ago as one of the first homes in Marchiori Rd, which was named after him.
“The owner was very emotional but very happy,” Ms Bafas said.
“We had two bidders, it was actually quite a competitive auction.”
A Victorian property at 4 Collett St, Kensington, fetched $760,000.
Jellis Craig Kensington agent Jerome Feery said the house was in need of renovating but represented “great value” for the tightly-held inner city suburb.
“Three bidders took part in the auction and the buyers are a couple moving from Lancefield in the Macedon Ranges,” Mr Feery said.
An apartment at 104P/191 Powlett Street, East Melbourne, achieved $865,000 sale at auction.
Caine Real Estate agent Elli Blanco said a buyer’s advocate purchased the two-bedroom home on behalf Australian resident living in Hong Kong.
“We had three registered bidders but it came down to two,” Mr Blanco said.
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Originally published as Renovated Greenvale homeowners tear up as house sells $125k+ above their price hopes