A renovated Rowville family home passed in despite 10 registered bidders, with private negotiations now continuing for the $1.2m-$1.3m property.
Suburban house hunters are showing hesitation to bid publicly at auction, with a popular Rowville property campaign stalling under the hammer despite attracting 10 registered bidders.
The home at 26 Buckingham Drive home had been quoted at $1.2m-$1.3m and drew strong pre-auction interest from family buyers searching for a move-in-ready house.
But the property passed in at auction, with negotiations continuing by private sale.
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Seller Anastacia Ernikiolis, who bought the home in 2008, said the interest before auction had been exciting but nerve-racking.
“It’s actually quite nerve-racking to be honest, because there’s just so much uncertainty at the moment,” Ms Ernikiolis said before the auction.
“It’s a little bit surreal with the market, but it’s a great family home.”
Ms Ernikiolis said she had taken pride in caring for the house across almost two decades, including recent works to the rear pergola area and painting.
“When I first bought the house, I renovated at the time,” she said.
The move-in-ready kitchen helped the Buckingham Drive home stand out as buyers tried to avoid another major renovation bill after purchasing.
The updated outdoor deck and pergola area added to the home’s family appeal, with vendor Anastacia Ernikiolis recently completing works to the space.
“I take a lot of pride and care in my environment.
“I’ve looked after it exceptionally well. It’s in great condition.”
Ms Ernikiolis said the next owners would inherit a home that had been loved, maintained and set up for family life.
“I think it’s a lovely home,” she said.
“It’s a good family home and whoever owns it next, I think will be quite happy.”
She said the property’s generous layout had made it a comfortable home for her, her partner and his children.
The renovated bathroom formed part of the home’s move-in-ready appeal, which drew strong interest from family buyers before auction.
Ms Ernikiolis bought the home in 2008 and said the next owners would inherit a property that had been loved and carefully maintained.
“It’s really big and spacious, so you’re never on top of each other,” she said.
“You have the luxury to separate if you want to or come together if you want to as well.”
Ms Ernikiolis said the front lounge would be one of the spaces she missed most.
“We have lots of movie nights in that front room,” she said.
“It’s really cosy.”
Seller Anastacia Ernikiolis said the front lounge was one of the spaces she would miss most after years of family movie nights.
The dining area sits within a spacious family layout that Ms Ernikiolis said allowed people to come together or enjoy their own space.
She said one of the best parts of living in Rowville had been discovering the nearby national park, walking tracks and green outlook towards the Dandenong Ranges.
“It’s the best,” she said.
“It’s really green. The mountains are close by, and the view as well.”
OBrien Real Estate Rowville agent Rene Mawad said three parties had made contact after the auction, with buyers still interested in the home but more hesitant to bid publicly.
Mr Mawad said uncertainty around the federal budget’s negative gearing and capital gains tax changes had added to buyer caution.
“There is a lot of fear around what is to come,” Mr Mawad said.
He said the level of interest before auction had been rare for the current market.
“It is unusual. It is one in 100 in this current climate,” he said.
“Every single home I have seen recently in that $1.2m-$1.3m bracket has been tough.
A renovated Rowville family home remains on the market after passing in at auction, despite strong interest from 10 registered bidders.
“Those campaigns have been passing in, sitting there, and then selling two or three weeks later at a reduced figure.
“Then all of a sudden, here we are with 10 registered bidders on a home quoted between $1.2m and $1.3m.”
Mr Mawad said the property had appealed to ordinary family upsizers, rather than big-money investors, because it was renovated and ready to live in.
“These are not wealthy people. They are not big-money buyers,” he said.
“They are very normal, very hardworking Australians.”
The home’s renovated kitchen added to its polished presentation as buyers searched for a family home they could move straight into.
He said renovation costs had made well-presented family homes more attractive to buyers who did not want another major bill after purchasing.
“Renovations cost so much now that buyers are terrified of buying something that needs major work,” Mr Mawad said.
“That gives families confidence. They can move in, live there, enjoy it and not be hit with a massive renovation bill straight away.”
The home is now for private sale, with talks continuing with interested buyers.
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