Melbourne Auctions: The hottest auction suburbs in record winter week

The weather has not hindered Melbourne’s hottest winter auction week ever, with as many as 1,580 homes being auctioned this week.

Data from the Real Estate Association of Victoria shows that it will surpass the previous record this season, which was set in 2015 when there were 1064 auctions in the last week of August.

According to REIV, Reservoir will hold the most auctions, with 28 properties available for auction.

East Melbourne is another hot spot for auctions, with 24 auctions in Kew, 21 in Balwyn North and Balwyn, and 20 in Richmond.

related: Sellers on the Mornington Peninsula make more than $700 million in real estate sales in the first quarter of 2021

Berwick, Sunbury, Craigieburn, Mornington Peninsula: Popular interstate buyer hot spots in Melbourne

Covid-19 real estate restrictions: Melbourne auction, timely removal of inspection ceiling for winter records

76 Liston Ave will be auctioned at Reservoir.

---

Craigieburn, St Albans, Preston, Bundoora and Glen Iris also top the list with the same high auction volume.

The latest round of restrictions in Victoria-relaxed just before the big weekend harvest-and the government’s end of stamp duty concessions on June 30, contributed to large-scale auction data.

Harry Kontossis, director of Barry Plant Reservoir, said that Reservoir has always been one of the busiest auction suburbs due to the size of the suburbs.

“This may be Melbourne’s largest suburb,” Mr. Kontossis said.

“We have had to postpone the auction in the past few weeks, so many auctions due tomorrow and next week should be held in early June.”

There are more prestige mats like 16 Ross Street, Kew on the market.

---

The cushions, valued at US$3.9 million to US$4.29 million, have impressive wine storage space.

---

He said that most of Reservoir’s suppliers prefer to auction rather than sell privately to encourage competition when the market is strong.

“This is also a popular area because it is still affordable and all surrounding suburbs such as Northcote and Coburg have taken off.”

According to realestate.com.au, the suburb is still attractive to first home buyers, investors and families, with a median house price of $841,000.

Kew Swinton Ave 2 was postponed due to the lockdown, but will be hit hard on Saturday.

---

The 16B Wallace Crescent in Beaumaris also attracted a large number of first-time buyers.

---

Mr. Kontossis expects that there will be many young buyers 76 Liston Avenue The price is expected to be between US$700,000 and US$740,000.

“There are not many things you can buy in that price range. This is a good blank canvas for them to refurbish later,” he said.

Jellis Craig Boroondara auctioneer Lloyd Lawton said that many of his Kew suppliers also hope to sell before the school holiday is in full swing next week, and some buyers will go to their area or coastal holiday homes.

The hottest suburban auction this week