12 ‘fierce’ bidders push Glen Waverley home $300k above reserve at auction
1/8 Park St, Glen Waverley, soared $300,000 above reserve at auction, with 12 bidders fighting for the keys.
Buyers were out in full force for the first weekend of spring, with 12 buyers facing off in a “fierce bidding” war on Saturday for a three-bedroom home in Glen Waverley.
The 1/8 Park St pad soared $300,000 over reserve at its auction, selling under the hammer for $1.4m.
A crowd of more than 100 spectators filled the street to watch the intense battle, which kicked off with a $1m bid.
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The 1/8 Park St was highly sought after among buyers.
A five-bedroom mansion at 30 Howard St, Glen Iris, also notched a top result.
The opulent home sold under the hammer for $4.715m.
Offers quickly flew to reach the vendors’ $1.1m reserve, with the auction briefly pausing at the point where four buyers placed a bid at the one time — a definitive sign of the spring market’s strength.
“The auction started straight away, it was fast and furious,” Harcourts Judd White chief auctioneer Dexter Prack said.
“It was fiercely competed and (the bidders) weren’t backing down.”
Mr Prack added that the vendors, sisters selling the home on behalf of their deceased mother, were “ecstatic” with the result.
He believed the mother was the first occupier of the home, having lived there for more than 20 years.
Meanwhile, in Glen Iris, an opulent five-bedroom mansion sold under the hammer for $4.715m.
Bidding for the 30 Howard St home opened with a $4.3m vendor bid, before four buyers competed for the keys.
The light-filled Glen Iris pad is brimming with luxury.
It also features a swimming pool and spacious outdoor area.
It was quickly brought onto the market at $4.7m, with a final $5000 bid closing the deal.
Marshall White Stonnington partner Jason Brinkworth said the auction was “a bit touch and go”, with most of the bidders comprising family buyers.
“It’s a very significant property,” he said.
“It was heritage listed and has some really beautiful features.”
Bidding was also competitive over in Blackburn South, where seven buyers competed for a four-bedroom pad at 2 Obrien Crescent.
A local couple looking to occupy the home placed the winning $1.207m bid, scoring the vendors an impressive $107,000 premium on their $1.1m reserve.
“It’s the bread and butter of real estate,” Ray White Burwood partner and auctioneer Jichen Quan said.
“The layout is practical, the land is decent, it’s a nice rectangular plot.”
2 Obrien Crescent, Blackburn South, also sold at auction over the weekend.
As did 5 Fern Court, Werribee.
A top result was also seen in Werribee, where a three-bedroom house at 5 Fern Court notched an $89,000 premium, selling under the hammer for $659,000.
Strong bidding was seen from three buyers, with a couple who had moved from Tasmania and were renting locally winning the keys.
Hocking Stuart Werribee auctioneer Samantha McCarthy had the listing.
It comes as PropTrack recorded a preliminary 60.5 per cent clearance rate from 784 results on Saturday, with a further 910 auctions expected this week.
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