The auction for 58 Rogerson St, Avondale Heights, had to be paused for a kangaroo hopping past, but still sold above expectations.
A Melbourne auction had to be paused and attendees moved from the street yesterday as a wild kangaroo hopped through the middle of proceedings.
The rare event for Avondale Heights did little to harm the sale, with the 58 Rogerson St house sold under the hammer for $920,000 despite the interruption.
It was fitting for a day when the city’s auction market also notched a surprising bounce, with PropTrack data showing a 61.4 per cent clearance rate from 852 results late yesterday.
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There were 1262 auctions scheduled.
A week earlier, when Anzac Day put a cap on sales numbers, just 51 per cent were sold under auction conditions.
Rendina Real Estate’s Lou Rendina said while he was disappointed not to get a bid from the kangaroo as it hopped through, homebuyers had definitely been keen to make a move yesterday to beat the prospect of an interest-rate hike on Tuesday.
Inside the 58 Rogerson St home is ready for an update, but still sold for $920,000.
The auctioneer sold four out of four homes under the hammer, and said about four or five bidders specifically mentioned they had wanted to avoid having to review their finances if the Reserve Bank raises the cash rate.
An interest rate decision by the Reserve Bank on Tuesday could hit homebuyer borrowing capacity by up to $30,000, according to Loan Market broker Jacob Decru.
But it was a Queensbury Place, North Melbourne, auction that surprised him the most. With the home sold for $975,000 — almost $200,000 after it was called on the market at $790,000.
Property Investment Professionals of Australia chair Cate Bakos said the strength of bidding at auctions yesterday had surprised her, but that it was unlikely to be repeated next weekend, when buyers will be waiting to see what happens in the federal budget on May 12.
1/2 Queensberry Place, North Melbourne, snared a $975,000 result as multiple bidders pursued it through a surprising auction.
“I’d say next weekend will be quieter,” Ms Bakos said.
“As soon as something is about a week away, people are a bit coy. So I expect people will sit on their hands.”
After that interruption, Ms Bakos said May could prove “hectic” with a chance there that buyers will be looking to beat the usual winter market hiatus and purchase a home before June.
There are expectations capital gains tax will be altered in the federal budget, which has the potential to impact investor activity.
The number of auctions are expected to soften next week, with 1152 forecast, and then dipping back into three-figure territory with 926 the following week.
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