The Maidstone house went up at auction, sold later for $1.276 million as nervous buyers held back

“Buyers are really waiting to see who else might be out there and what they have to offer,” Saad said. “They thought that delaying might give them a little more power in the negotiations afterwards.”

The house in Melbourne’s west is one of 630 auctions scheduled across the city on Saturday. In the evening, Domain Groups recorded an initial clearance rate of 55.0 percent of the 451 reported results, while 68 auctions were cancelled. Drawn auctions are counted as unsold properties when calculating clearance levels.

The Maidstone House isn’t the only one passing by and selling later on the weekend. A three-bedroom terrace at 108 Roseberry Street, Ascot Vale passed, then sold for $1.2 million in reserve after auction.

Nelson Alexander Ascot Vale sales agent Josh Calendar said two bidders were competing and one made a strong bid while the other tried to slow down the process by making a $1000 bid.

The property made a bid of $1.18 million, before quick negotiations. It was sold to an upsizer from the local area.

“It’s really about the current market sentiment,” Calendar said. “I tell vendors that if you don’t want to offer good value, there’s always someone else who will, and that means they’re going to be left behind.”

A four-bedroom house at 11 Hamilton Street, Brunswick West had similar results, with two bidders also making bids during the auction.

The property opened with a vendor bid of $1.46 million, before placing a bid of $1.5 million. It was sold after brief negotiations for $1.56 million – above the $1.5 million to $1.55 million price guide.

Jellis partner and auctioneer Craig Brunswick Dylan Francis said the buyers were a young local couple looking to enlarge their home and had been interested from the start of the auction to buy. Even so, they and the other bidders refrained from making big offers.

“Buyers just sit on their hands … because a) they want to see it announced in the market before bidding, and b) they don’t want to overpay,” Francis said.

He said some buyers struggled to get their financial approvals in time for bids.

Saturday market is not all over. A two-bedroom one-bedroom Victorian terrace at 15 Queen Street, Fitzroy North sold under the hammer for $925,000 after three competing bidders.

It sells in the middle of the $870,000 to $940,000 price guide.

“Properties like this have a different set of buyers when you talk about investors, owner-occupiers and downsizing, and anything under $1 million in a class-A area like Fitzroy North will always get a lot of interest and a good crowd,” Francis said. .

In Northcote, a modern three-bedroom house at 3A Bent Street was sold for $1.49 million to a professional woman looking to move to a sought-after suburb.

Nelson Alexander Northcote sales agent Denise Kriaris said four bidders were competing, with an opening bid of $1.25 million.

A final bid of $4,000 sealed the deal for the buyer, one of many interested in the property for its two car parks.

“That’s really rare for Northcote,” Kriaris said. “It’s been a really weird time, and we definitely don’t have as many buyers as we did at the start of the year. But people still go out and look, and they buy.”

In Endeavor Hills, a four-bedroom house at 8 Orbison Court has seven active bidders vying for the keys.

The house had an opening bid of $800,000, with a bid of $50,000 for a price of $1.2 million. It sold under the hammer for $1,226,000, well above price expectations, to siblings who said their mother might be moving into the house.

Ray White’s partner Ferntree Gully Jack Rickard says the right property still attracts good competition from buyers.

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“I think it’s a very price sensitive market right now – if people look at value, they will bid, and if they don’t, obviously they won’t,” he said.

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