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Nos. 165-183 Bannons Lane, Alabat were sold for US$2.55 million in a fierce auction.
According to the sales agent, a fierce Arambat auction last weekend was almost hit because its price soared by $200,000, exceeding expectations.
8 hectares or more 165-183 Bannons Lane The estate was sold on the market for US$2.235 million, but because two bidders refused to give up, it was sold for US$2.55 million.
Stuart Buckingham of Buckingham and Company said the two had business dealings before the auction and started yelling at each other, and then asked each other to stop bidding when they realized who they were bidding against.
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“We have five bidders, but two of them fought side by side-they almost got hit,” Mr. Buckingham said.
“They passed it by word of mouth. It became very hot.”
In the end, one person left with the key, and the other was disappointed that he had missed the rare opportunity to buy at the “Millionaires’ Row” in Yarrambat.
![165-183 Bannons Lane, Yarambat-Pioneer Sun Real Estate](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
As the two bidders refused to give in, Bannons Lane 165-183 in Yarrambat was sold at a price higher than the reserve price.
Both bidders are considering demolishing the existing house.
The interior of the house is comfortable and offers impressive views.
Mr. Buckingham also encountered seven bidders 91 Sackville St, Montmorency, When it was called on the market, its opening price was US$1 million, far exceeding US$1.23 million.
It was eventually sold for $1.408 million.
Even the two-bedroom unit in Reservoir was sold for $805,500, which was $150,000 higher than expected.
Andrew Montalto of Hawkinstuart says 1/21 Habury Street The reserve of $655,000 caused little trouble for the five bidders, most of whom were downsizing buyers.
The result unexpectedly comforted the sellers. They sold the house their mother bought as a small apartment at a price of $620,000 in early 2020.
“I think everyone is a little shocked,” Mr. Montalto said.
“This blew us out of the water.”
The price of a two-bedroom unit at 1/21 Reservoir Harbury St is $150,000 above the reserve price.
About a year ago, the house was sold for the last time for $620,000.
A group of mainly downsizing people pursued this property.
Wakelin Property Consulting Director Jarrod McCabe said that he had seen buyers line up at home inspections in Mont Albert North and Surrey Hills, as if they were in an “exclusive nightclub… agents are like bodyguards because they execute 10 people Covid -19 Capacity limit”.
Ray White Victorian chief executive Stephen Dullens (Stephen Dullens) said that limiting the number of people inspected to 10 people has always been a challenge, and many agencies have booked three or more people for a house in the past weekend.
Mr. Durrence said: “Supply is declining, but demand is still there.”
But buyers may not wait too long, because sellers are expected to catch up with the state government’s 25% stamp duty discount on houses under $1 million or 50% of newly built houses before the June 30 deadline.
The selling price of 91 Sackville Street, Montmorency is also much higher than its reserve price.
The modern interior design attracted a family of five from Northcote.
The swimming pool and extra space in the backyard also attracted buyers.
Even those with strong financial resources hope to beat the 1% increase in the state’s highest stamp duty. From July 1st, for every $2 million spent, the stamp duty will rise to 6.5%.
“Markets under US$1 million may be eager to sign contracts on or before June 30 so that buyers can get a 25% stamp duty reduction,” Mr. Durrence said.
He considers June 26 to be “large scale” and said that the agency will hold a special mid-week auction from June 29 to 30 to meet demand.
Mike McCarthy, CEO of Barry Plant, stated that the agency will “advance as much as possible in the next two weeks to intervene before the stamp duty arrangement changes.”
“I suspect that June 26 will be a very big auction weekend,” Mr. McCarthy said.
“You might even see a record number of auctions. This won’t surprise me.”
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