Seven buyers fight over Bayswater North home as price shoots$160,000 past reserve

1 month ago 15

A Melbourne man and his partner bought their first home in Bayswater North at a weekend auction that soared to $1.229m.

A Bayswater North home expected to fetch just over $1m has sold for $1.229m, smashing expectations — and it’s sparked a warning for others thinking of selling to be quick.

The four-bedroom, two-bathroom home at 16 Wimborne Court had a price guide of $950,000 to $1.045m, but intense competition between seven bidders pushed the final result $160,000 above reserve.

Ray White Wantirna’s Amir Armani said the auction was one of the most competitive he had seen in years, with buyers fighting fiercely to secure the home.

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“The auction was electric — one of the best we’ve seen in a long time,” Mr Armani said.

“The vendors were absolutely over the moon with the result.”

The auction opened at $980,000 and quickly escalated as buyers threw everything they had at securing the home.

The high-end kitchen renovation, featuring Caesarstone waterfall benchtops and premium ILVE appliances, appealed to buyers looking for quality and style.

The expansive alfresco area, perfect for entertaining, looks over a landscaped backyard — one of the many features that made this home a magnet for buyers.

Mr Armani said the final result left the winning bidders ecstatic.

The 822sq m property, tucked away in the Canterbury Gardens Estate, had undergone a high-end renovation in 2018, adding an extension, Caesarstone waterfall-edge benchtops, and stylish finishes throughout.

With multiple living areas, high ceilings, and an expansive back yard, the home appealed to families looking for space and a prime location close to schools, shops, and parks.

Spacious and filled with natural light, the living area boasts Tasmanian oak flooring and high ceilings, adding to the home’s sense of space and luxury.

A bidding frenzy broke out as seven buyers battled for the keys, pushing the price $160,000 past reserve.

The Ray White agent said the result signalled Bayswater North’s market was heating up, with buyers no longer waiting for potential interest rate cuts before making a move.

Mr Amir added that this was good news for sellers who acted quickly.

“Waiting is a huge mistake,” he said.

“People think another rate cut will push prices higher, but when that happens, more properties will hit the market, increasing competition. Right now, demand is outstripping supply, and sellers are in the driver’s seat.

“This is proof that the market is stronger than ever – I was expecting around $1.05m, maybe $1.045m — but to hit $1.229m? That’s phenomenal.”