The market is set for its biggest ever end to a year, with former Melbourne footballer Bernie Vince’s family pad among the weekend’s successful sales.
Victoria’s real estate market is on track for a record December of auctions, as another 2000-odd homes went under the hammer last week.
The state is tipped to have conducted a staggering 4700-4800 auctions before the month is up, soaring past the record 4445 that took place in December 2017, according to the Real Estate Institute of Victoria.
Realestate.com.au recorded a preliminary clearance rate of 79 per cent from 1188 reported results.
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REIV president Adam Docking said the massive end to this year’s auctions was largely due to interruptions from lockdown.
“It’s definitely unheard of to be auctioning this late into December.”
The push towards online auctions this year had also helped drive the record volumes, as the flexibility meant agents could schedule more sales beyond their normal Saturday activity.
Mr Docking predicted strong results would continue when auctions picked up again in 2022, but noted the industry had finally “caught up” with the pent-up stock and demand.
“Eventually it has to slow down and find the balance between sellers and buyers, and I think we’ve found it now,” he added.
AFL footballer turned media personality Bernie Vince’s Elwood family home was among the successful sales on Saturday.
The 229-game Demon and Crow’s the three-bedroom pad at 50 Ruskin St fetched more than $2.5m at auction, as a celeb-studded crowd of sports stars past and present watched on — including Melbourne Football Club’s James Harmes and Carlton’s Oscar McDonald.
Vince — a real estate fanatic who runs agency Pride Prahran with Charlie Clemons — said it was bittersweet to say goodbye to the house he and wife Abbie had renovated over the last 12 months.
“We will really miss the area,” Vince said.
“Our family is over there so were always going to end up back in Adelaide, but didn’t expect it (to be so soon).”
The Triple M host said a change to his show, The Rush Hour, had taken him back to South Australia.
The charming property passed in at $2.36m before listing agent Mr Clemons negotiated the buyers over the line.
He said a young professional couple bought the home.
Meanwhile in Ormond, a dated three-bedroom abode at 28 Malane Street, Ormond sold for $1.706m, surpassing the $1.6m reserve.
Five young couples competed for the renovation opportunity on a 674sq m block.
Woodards Carnegie sales director Benjamin Dax said the buyer secured the property with “one last $1000 bid”.
He also noted the final rush to buy and sell before the end of the year “off the back of a lot of strong results across spring”.
“Clearly people who were on the fence about selling have seen the sales and now (post-lockdown) people have been making more plans,” Mr Dax explained.
“The difference now is almost every property in spring was getting multiple buyers and crazy prices. The premium ones are still absolutely flying, but anything that has some shortcomings, we’re not as were not getting away as much.”
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Originally published as Melbourne auction results: Victoria set for record December of auctions