Cheltenham seller nets $77,000 bonus as auction fast track beats RBA

3/22 Gillman St, Cheltenham, moved its auction forward by a week to beat the Reserve Bank, after finding a workaround to Victoria’s new auction laws. A Melbourne homeowner’s decision to bring forward their auction by a week to beat an expected interest-rate hike on Tuesday has paid off with a bonus $77,000 above expectations. The sellers of 3/22 Gillman St, Cheltenham, had listed the home with a reserve price disclosed from day one, paving the way for them to consider an auction earlier in the campaign if they had felt it would benefit the sale. Others planning an auction for next weekend would have been unable to make the same move after concerning inflation data emerged on Wednesday, effectively forced to wait seven days and until after the Reserve Bank makes its next interest-rate call, even if they had disclosed a reserve price immediately after the inflation figures emerged. RELATED: ‘Like a plague’: grim forecast for Melb auctions Vic gov’s shock response as grim new rental crisis data emerges Former Carlton boss Luke Sayers lists $12m East Melbourne pad Sellers are required to advertise their reserve price at least seven days before a planned auction or set-date sale under V...