An impressive 16 bidders competed for the keys to a South Morang house on Saturday.
The home was among 732 Victorian properties to test the market under the hammer last week, with PropTrack figures showing the state recorded a 68 per cent preliminary clearance rate from 472 results.
Ray White Thomastown’s Jack Trewin said a young couple paid $910,500, $85,500 above the $825,000 reserve, for the four-bedroom home at 7 Ellabella Court.
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Mr Trewin said the vendor, a builder, had upgraded parts of the home, including the kitchen, in their two decades of ownership.
“There is no scarcity in regards to the properties of this size, but this home – in my opinion – was the most well presented, buyers were attracted to its turnkey quality,” he said.
The location in a quiet court close to a grocery store, a Westfield shopping centre and South Morang train station added to the appeal.
In the city’s northwest, a five-bedroom house at 38 Steele Creek Drive, Keilor East, recorded one of the week’s top results.
Sold for $2.365m, it topped its $2.2m reserve by $165,000.
Nelson Alexander Keilor East’s Mark Giardina said the six-car garage was popular with buyers.
“It was snapped up by a young family,” Mr Giardina said.
“Higher-end, turnkey houses are among the best performing ones at the moment.”
Eight kilometres away, a townhouse at 2A Dorset Rd, Pascoe Vale, fetched $713,000.
Ray White Pascoe Vale’s Stefan Stella said the suburb had “come out of the cracks and become quite a viable suburb, opening it up to be a dominant area”.
Meanwhile a Bundoora woman selling two houses she owned at 11 Ellery St and 14 Carolyn Cres snared results at $950,000 and $800,000, with both properties listed through Barry Plant North Eastern Group partner Michael Egan.
Barry Plant chief executive Mike McCarthy said five bidders drove the second home sale, pushing it $110,000 above reserve.
Mr McCarthy said while there was a low volume of stock for sale, there was “still very good demand” from buyers.
“People have adjusted their budgets to cope with the interest rate rises,” he said.
“Perhaps they might now look at a smaller house or a different suburb.”
And in East Melbourne, a two-bedroom apartment at 5/86 Hotham St sold for $851,000.
Kay & Burton’s Monique Depierre said a buyer’s advocate bought the property on behalf of a Vietnam-based expat.
About 680 auctions are scheduled across the state this week.
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Originally published as South Morang house attracts 16-bidder swarm
