Bidders braved steady rain across Melbourne as buyers pushed hard for limited December stock and delivered a string of standout results. Picture: NewsWire/Andrew Henshaw
Melbourne’s clearance rate held at a moderate 66.9 per cent as buyers pushed through steady rain to deliver a mixed spread of December results across the city with several multimillion dollar deals standing out against softer patches elsewhere.
According to preliminary PropTrack auction results, Northcote led the day’s results where a four bedroom home at 37 McCracken Ave sold for $3.67m, topping the list as one of the strongest inner north auctions of the month.
Rowville followed closely with 6 Norris Rd achieving $3.316m, while Glen Iris also posted a solid figure with 45 Rosedale Rd changing hands for $2.686m.
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In the inner city Richmond’s 5 Somerset St reached $2.4625m, and Essendon rounded out the top performers with 27 Mackay St selling for $2.43m.
While the weather kept many Melburnians indoors, bidding intensity remained steady in pockets where buyers were prepared to compete.
In Mulgrave a refreshed four bedroom home at 3 Cromer Cres, stormed to $1.191m, after five bidders contested in the rain.
Richmond’s 5 Somerset St sold for $2.4625m after strong inner city competition.
Essendon’s 27 Mackay St was among the day’s top sellers reaching $2.43m.
Ray White Mount Waverley agent Jacob Biviano said the result was driven by motivated buyers rather than conditions.
“It was horrible” Mr Biviano said.
“We were only expecting two bidders then three buyers who had never been through the home before arrived and all decided to compete. “That pushed us to five and created fantastic momentum.”
Ray White Victoria chief auctioneer Luke Banitsiotis said rain had little impact with strong bidding seen across multiple suburbs.
Northcote’s 37 McCracken Ave, topped Melbourne’s results hitting $3.67m under competitive bidding.
Auctioneers across Melbourne reported similar patterns with the rain having limited impact on buyers who were determined to transact before the end of the year.
Ray White Victoria chief auctioneer Luke Banitsiotis said competition was still evident across the west where he called a lively auction at 124 Tenterfield Drive Burnside Heights, handled by selling agent Leigh Grixty.
“I had four families fighting it out three in person and one remotely from Sydney,” Mr Banitsiotis.
Rowville’s 6 Norris Rd secured $3.316m marking one of the biggest outer suburban results of the day.
“It was super competitive in that popular sub $1m price point. The market does not feel like it is faltering as we head into Christmas.”
Mr Banitsiotis said rate speculation was no longer derailing buyer commitment.
“Life does not pause for the Reserve Bank. People still get married they still have kids they still downsize,” he said.
“If buyers have a home in sight they should push hard now because January and February often bring fewer listings but more competition.”
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