BREAKING: A stunning four-bedroom home in Wheelers Hill has just sold at auction for an impressive $1.39 million, following fierce competition among five families that drove the price over $100,000 above the reserve. The auction, held on Saturday, showcased the property located at 4 Samantha Close, just minutes away from Jells Park and Caulfield Grammar.
The house, featuring a light-filled atrium and underfloor heating, was initially guided at $1.18 million to $1.28 million. However, the bidding commenced at a modest $1 million, as reported by Biggin Scott auctioneer Lindsay Xu. As the bidding progressed, participants increased their offers in increments of $100,000 and $50,000, ultimately surpassing the $1.25 million reserve price.
Xu noted that the atmosphere was electrifying as two additional families entered the bidding once the property was declared “on the market.” The final bids escalated in smaller increments, ultimately resulting in a successful sale.
“The buyers purchased this home to live in right away,” Xu stated. “They had already sold their own house and were eager to find another one in the area.” She also mentioned that a long weekend with fewer competing auctions likely contributed to the strong turnout and bidding activity.
Overall, 489 properties were scheduled for auction across Melbourne on Saturday, a notable decrease due to the holiday weekend. In a separate auction, a two-bedroom villa unit in Macleod fetched $750,500, with bidding intensifying in smaller increments as the auction progressed.
Ray White Macleod auctioneer Kaylah Guerra reported that this unit, located at 4/21-23 Braid Hill Road, was sold after an innovative strategy involving transparent pricing. “We published the $703,000 reserve in the final week, which allowed buyers to prepare and bid with confidence,” Guerra explained.
The winning bid came from a first-home-buying couple who triumphed over three downsizers. “The unit was well-maintained and cared for, almost like it was owner-occupied,” Guerra added, highlighting the home’s appeal.
This auction event underscores the robust demand for real estate in Melbourne, fueled by families eager to secure their next homes before the market becomes even more competitive. As families continue to make significant investments, the real estate scene remains vibrant and dynamic.
Stay tuned for more updates on the Melbourne housing market as it evolves.
