The house at 470 Brunswick St, Fitzroy North, sold under the hammer to a buyer who had never visited in person.
An investor splashed $1.11m on a Fitzroy North house without even stepping foot inside it on the weekend.
Nelson Alexander’s James Pilliner said the NSW-based investor had a family member representing him at the auction for the Victorian-era home at 470 Brunswick St on Saturday.
“The buyer was a Sydney investor who didn’t see the home in person before purchasing it,” Mr Pilliner said.
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He also oversaw a second inner Melbourne auction on the same day.
The two-bedroom house at 116 Palmerston St, Carlton, fetched $1.205m after being placed on the market at $1.15m.
“There were four bidders and they were all aged in their mid-thirties and younger,’ Mr Pilliner said.
Another house which sold under the hammer on the weekend was a six-bedroom abode at 3 Linden St, Blackburn.
Fletchers’ Ben Williams said three bidders vied to make the home theirs.
“It was listed with a $1.48m-$1.58m range and sold for $1.65m,” Mr Williams said.
The new owner is a local investor.
The Fitzroy North house features a modern kitchen with stone benchtops, soft-close cabinetry and stainless-steel cooking appliances.
Closer to Melbourne’s CBD, a renovated three-level house at 4 Little Kent St, Richmond, went under the hammer.
Property Home Base’s buyers’ agent Joe Dunbar, who attended the auction, said the residence sold for $1.601m.
The home had been advertised with a $1.3m-$1.43m range.
However, Mr Dunbar said other inner city auctions he attended on the weekend had “good crowds, but not a lot of people bidding”.
Set on 842sq m, 3 Linden St, Blackburn, is close to Blackburn Lake Sanctuary, Blackburn High School, parks and Blackburn train station.
Mr Dunbar said in addition to a lack of new stock coming onto the market before Easter in March, the Reserve Bank’s recent rate increase seemed to have placed many buyers in a holding pattern.
“I think people are holding off to see what potential other rate rises may occur before biting off more than they can chew,” he said.
More than 100 buyers inspected 4 Little Kent St, Richmond, before the day it went under the hammer.
RT Edgar’s Nick Walker declined to comment on the Richmond house’s sold price but said four bidders took part in the auction.
He said the home’s contemporary-style renovation had been key to its popularity with house hunters wanting to avoid expensive rebuilds.
“About 115 buyers inspected prior to auction day and we had about 55 or 60 people in the crowd on the day,” Mr Walker added.
Most of the potential buyers were local homeowners although the house drew queries from investors.
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