A beach shack on the Mornington Peninsula soared almost $500,000 above reserve on Saturday to notch a $1.443m sale.
The 222 Dromana Parade, Safety Beach, abode sold under the virtual hammer on the weekend with about six bidders and two serious buyers vying for the keys.
YPA agent Elke Remscheid said the well-loved holiday home, a short walk from the beach, had attracted city-based buyers looking for a seaside retreat.
But no one could have predicted the end result, Ms Remscheid said.
“It was just mind blowing, I certainly didn’t expect it.”
She said the house itself was liveable but the 639sq m property had “huge development potential”, which drove its appeal.
“It was used as a holiday house for many, many years by the (vendors’) parents – it’s in a fantastic spot, it’s only about 200m from the beach and it’s north facing,” she said.
Ms Remscheid said even the buyers, a family from Melbourne who intended to use the property as a holiday home, were surprised by how much they paid.
“They were laughing to me, saying, ‘we probably paid too much – but it was worth it’,” the agent said.
With limited stock and rolling Covid-19 lockdowns, people were “desperate to buy” properties “in a good location” or with future potential, Ms Remscheid said.
“The reserve was set at $974,000 and 129 bids later we ended up with $1.443m,” she said.
In Brunswick East, Jellis Craig Northcote’s Sam Rigopoulos sold a renovated “home like no other” for $2.27m – one of the priciest reported sales of the week.
Hidden behind an original Victorian facade, the 7 Maghull St property’s architectural design and modern industrial elegance were a hit with buyers.
Meanwhile, in Hughesdale, Ray White Oakleigh auctioneer Jonathon Eaves attracted a $1.338m sale for 48A Euston Rd while his two-and-a-half-year-old twins watched on.
Mr Eaves described the sale of the three-bedroom brick home as “just mental”.
And in regional Victoria, auctions were thrown into disarray at the last minute after Covid-19 restrictions were reintroduced from 1pm last Saturday.
Auctions and in-person inspections are no longer permitted in country areas, in-line with restrictions already in place in the city.
The state recorded a preliminary clearance rate of 91 per cent from the 243 auction results reported to realestate.com.au, which had expected 534 of the 1026 originally scheduled to be held.
CoreLogic recorded an early clearance rate of 48.6 per cent for Melbourne off 792 results from the 1067 it had marked down to go under the hammer.
A total of 505 auctions were expected this week in Victoria, according to realestate.com.au.
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