A homebuyer fainted as Melbourne’s first weekend of face-to-face auction action ended with sellers celebrating prices $100,000 and more above their reserve.
On the busiest AFL Grand Final day of auctions since the premiership match had to be replayed in 2010, realestate.com.au recorded a 76.9 per cent clearance rate from 238 results.
Real Estate Institute of Victoria vice-president Adam Docking said with buyers coming from “everywhere” the sales showed “real estate is back open for business”.
In-person bidding for up to 10 people resumed across Melbourne on Monday, and is believed to have helped drive results.
In Seddon a backyard auction that soared $161,000 past its reserve led to one of the 10 prospective buyers fainting.
Jas Stephens sales manager Craig Stephens said the 44 Hyde Street sale was paused while the bidder was given a seat and a drink before continuing to a $1.151m sale.
“He composed himself after a break in the auction, I believe it was after going past his bidding limit,” Mr Stephens said.
He estimated had the vendor gone to auction as planned in April earlier this year they would have got $100,000 less, with the market already rebounding from COVID-19 and Melbourne’s inner west in particular “red hot”.
But there were signs the pandemic had hampered sales with RT Edgar’s Joanne Royston revealing a pair of bidders for 1/125 Sixth Avenue, Altona North, were left making offers subject to finance. The Cavka family (pictured) selling the townhouse are expecting good news after a lender crunches the numbers for a contract on Monday.
Barry Plant chief executive Mike McCarthy said his firm recorded a “solid” 67 per cent clearance rate, including an hour-long auction for 25 Mersey Street, Box Hill North, with the two-bedroom home selling almost $17,000 above its reserve for $1,046,888.
One of Melbourne’s biggest auction agencies Ray White conducted all but five of their about 100 auctions online this week, but still recorded an average 5.6 bidders with more than 70 sales under the hammer.
“It is up on this time last year and not what you would expect for Grand Final day in a normal year,” said chief executive Stephen Dullens.