Our happy vendors shared a massive $1,463,000 over their reserve prices!
$22,508,000 worth of property was SOLD
82 delighted buyers & sellers!
The auction campaign started on January 28th with a fantastic volume of potential buyers entering the home for inspection. Across the four week campaign the home was viewed by 60 or more groups. With a wide variety of groups looking to purchase for diverse motives from investing to first home buyers to downsizers the variety was fantastic to witness. On Sunday, auction day proved to be a major success for the 10 Kipping Rise vendors, with multiple purchasers visiting for their final inspection prior to the commencement of the auction. As the buyers eagerly awaited the commencement of the auction proceedings, the crowd from surrounding homes started to gather and then we were off.
A starting bid of $480,000 kicked the auction off. The auction was hotly contested by 4 participants – all enthusiastic to be the one who claimed the keys to 10 Kipping Rise, South Morang. Bids flowing at a rapid rate saw the price rise with the hammer finally coming down to the successful purchaser for a street record price of $591,000. With vendor and purchaser both very excited and overwhelmed with joy, the campaign ended with what was a fantastic auction result.
These two properties started as a peculiar situation with separate vendors wanting to sell side by side at the same time. Although the situation was not the norm, it paid off as a worthwhile venture. A large amount of interest came through the properties for both sale as a combination and sale as individuals. With large amounts of traffic via the advertisement on the internet and large numbers through each open home it was exciting to see how the auction day was going to fair for the hopeful vendors.
A crowd of 100 plus people packed the street of Dalton Road, Epping in anticipation as to what the outcome would be. The program for the day was that the properties were to be auctioned off as a combination and if unsuccessful would be sold as individuals. Thankfully, the properties were snapped up after the homes were passed in at $930,000 to the successful purchasers for a substantial $1,000,000.
3 bidders fought out for the fantastic buying opportunity, but as usual only one can be successful. Following the auction proceedings, the sales team from Ray White South Morang were bombarded with potential buyers wanting to know if there were any other homes for sale in the area as they are keen and eager to purchase.
Patrick and Margaret have lived at 9 Blackman Avenue, Mill Park for the past 25 years. They have watched their children grow up and start their own families and decided it was time to move further North. Like many other families who have lived in the area for years, the move further North means a newer and more modern home. On this occasion, the move was also a chance for the vendors to downsize from and their four bedroom home to something with less bedrooms, land and maintenance.
The Mill Park location has been a great family neighbourhood for Patrick and Margaret, with plenty of schools, parks and facilities close by. Mill Park is seeing rapid growth in sales prices as buyers and investors who cannot afford inner suburb pricing are driven to Mill Park and surrounding suburbs.
The auction day saw plenty of buzz and eager buyers. There were 3 bidders and the auction passed in at $610,000. The four bedroom home sold during post-auction negotiations to the happy investors for $650,000! A massive result for this type of home!