Home sells for $1 million above reserve at auction through the assistance of Brighton Real Estate Agents
The three-bedroom home at 12 Farleigh Road, Brighton, sold for $5.18 million under the hammer, after four bidders who were desperate to buy in the suburb competed for the keys.
Fredman Property Group’s Joel Fredman, who sold the home in conjunction with Meridian Real Estate, said the buyer would be looking to tear down and rebuild a new home on the property in one of the suburb’s best streets.
An opening bid of $4 million set the scene early, with big bids coming in quick succession.
“There were downsizers and families bidding on the home,” Mr Fredman, who was also the auctioneer, said. “They just went for it.”
The family who bought the home had been looking for property in Brighton for a few months and were very happy with their buy.
The vendors, who were ecstatic with the result of the auction, were now looking to downsize, Mr Fredman said.
The sale was one of the biggest auction results in Melbourne at the weekend, which brought some enormous sales despite the rain.
By Saturday night, the preliminary auction clearance rate was 79.8 per cent from 978 scheduled auctions and 756 reported results.
There were 53 properties withdrawn from auction and were counted as not being sold as part of the clearance rate.
While the sale in Brighton flew, another stuck much closer to the indicative price range.
The classic California bungalow at 37 North Road sold under the hammer for $3.38 million, close to the price range of $3.1 million to $3.4 million.