143 Gordon St, Balwyn sold under the hammer on Saturday.
A Balwyn mansion sold for $200,000 above its reserve price at auction on Saturday.
The six-bedroom residence at 143 Gordon St is located in a leafy pocket moments from Balwyn High School, attracting four parties to compete for the keys.
One buyer kicked off proceedings with a $4m bid, as fierce competition pushed the property above its $3.9m-$4.29m price guide.
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Kay & Burton Boroondara director Sophie Su said there was very competitive bidding between prospective purchasers, adding that it was a very new home built just last year on a small block of land.
The expansive living and dining area.
The result comes as more than 900 auctions that were scheduled across Victoria on the weekend.
Barry Plant head of growth Mark Lynch said there’d been an increase in homes on the market in the last two to four weeks, as more tenants were looking to purchase their own residence due to rent increases.
“There has been multiple bidders on lots of auctions, probably an average of two to three bidders per auction,” Mr Lynch said.
“I don’t think people are thinking about rate rises. I think they’re probably factoring in a decrease.”
The kitchen featuring Miele appliances, integrated fridge and freezer and a butler’s pantry.
Last weekend’s clearance rate sat at 62.4 per cent with 353 homes sold.
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sarah.petty@news.com.au
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