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No end in sight for Melbourne online auction success

By Mikaela Fowler

THERE were some very happy buyers and sellers last night after Ray White Victoria offices recorded some outstanding results through online auctions.

Buyers proved unphased by the virtual platform after months of successful online auctions showing that while the process may look different, the premium results are still the same.
Early in the evening, Ray White Victoria | Tasmania Chief Auctioneer Matthew Condon (pictured above) expertly ushered in new owners to 21 Canara St, Doncaster East after a whooping 51 bids.
Sold through Ray White Manningham’s Mehron Mashayekh and Danial Reza Ali, the auction attracted 22 registered bidders, with six actively participating. After beginning at $850,000, the three bedroom home sold for well above reserve at $1.125 million.
Mr Mashayekh said one of the key reasons for the campaign’s success was low stock numbers in the area.
“Low stock was a major driver of the price going north and it just goes to show that a great property in an exceptional location offering access to good school zones will always attract a premium result,” Mr Mashayekh said.
“If you’re planning to sell in the coming months, I would say take advantage of today’s market. Limited stock is driving prices up, and with the right campaign and marketing, your house will still sell for a great price despite the economic conditions.”
Canara Street sellers Helen and Ray McIntosh are now planning to move closer to their daughter Christine Gardner who helped sell the home on her parent’s behalf.
Ms Gardner said the constant communication from Mr Mashayekh gave them the confidence to pull the trigger and sell.
“There were minimal COVID-19 cases when we first employed Ray White to be our agents, and then obviously all the restrictions got harsher and tighter and we became a little more concerned, but Ray White reassured mum and dad the whole time,” Ms Gardner said.
“Mehron was on the money in terms of price – he said we should set the reserve at a certain number, and it was the right call. Not only did it sell above the reserve, it actually sold above what the house was valued at.

“We initially thought it would sell for nothing and we were going to have someone pay bare minimum but in the end we couldn’t be happier with the result.”

Mr Condon said last night’s success further reiterated the confidence that was still in the Melbourne property market.

“The results we saw last night show that buyers and sellers are becoming really comfortable and confident in the online auction environment,” Mr Condon said.

“It’s great to see that online auctions in Victoria are continuing to go from strength to strength.”

Ray White Victoria Auctioneer Jeremy Tyrrell (pictured above) had his share of auction success too, helping the Noble Park | Springvale team sell two from two later in the evening.

Up first was 68 Kelvinside Rd, Noble Park that went under the virtual hammer for $565,000 after an opening bid of $390,000. The auction drew more than 60 viewers and nine active bidders out of 23. The home went to a second home buyer and was sold through agent Jason Yan and Principal Allison Grant.

Ms Grant said the property appealed to a wide range of buyers with interest coming from developers, first home buyers, and people looking to knock down and build new.

“It was a very streamlined campaign. There’s a shortage of stock locally at the moment and the versatility of the home really captured an audience,” Ms Grant said.

“This is the perfect time to sell. Demand is outstripping supply and there are lots of buyers about who are being fueled by low interest rates, particularly first home buyers, and there’s really no reason to wait to buy or sell.”

Following the Kelvinside Rd auction, 10/41 Ardgower Rd, Noble Park sold for $311,100 through Alan Tran and Jason Yan. Three eager bidders tuned in with the winning buyer being a local looking for her first property.

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