Young couple outbids Sydney buyer for $1.415 million Bentleigh East home

Listing agent Roland Paterson of Nelson Alexander said the sellers were shopping for a larger property.

This historic house was renovated by its previous owner.

In North Melbourne, a local couple downgraded from an apartment to a two-bedroom townhouse, beating three others to the $1,091,000 price tag for a two-bedroom townhouse.

Jellis Craig auctioneer Trevor Gange hosted 46 Byron Street The vendor is offering $900,000. The property has a price guide of $900,000 to $950,000.

“Sometimes it’s a little like a country dance, and nobody wants to do it first, so I decided to do it first, and then we raised $10,000,” Gange said.

From there, the four parties began bidding in $5,000 and $1,000 increments, quickly pushing the price above $1 million. Gange said he counted at least 40 bids of $1,000 throughout the auction.

The eventual buyer, a North Melbourne local looking to purchase a larger home, made a final $1,000 bid to buy the townhouse for $141,000 above the $950,000 reserve.

Meanwhile, a Bentleigh East home is on the market for the first time in more than 50 years for $1,415,000.

lie in 9 Elswell StreetThe property has been owned by the same family since 1967 and has a price guide of $1.15 million to $1.25 million.

The auction opened at $1,175,000 before two buyers – a local couple and a Sydney bidder – raised their bids in $20,000 increments until the home was listed for $1.3 million.

At this point, the winning bidders began to compete with each other. Three parties continued to bid in $10,000 increments until the property was bought at the auction by a young couple from Oakleigh who were upsizing and looking for a permanent home.

Woodards Bentleigh real estate agent Ryan Counihan said the property’s bathrooms and kitchen had been updated during the vendors’ long ownership.

“It’s a very uneven market, but we’re finding quality family homes, especially move-in ready homes in the $1 million to $1.6 million range,” Counihan said.

“That’s probably where the market is strongest. Anything we find that needs improvement is probably going to be a little bit difficult.”

In Kew, a buyer who moved from Melbourne’s west to be closer to family outbid three other buyers for the property. 20/11-13 O’Shaughnessy Street Priced at $595,000.

The Agency auctioneer Luke Saville said bidding for the two-bedroom apartment started at the top guide of $540,000 to $570,000, which made several potential bidders uncompetitive.

“The bidding was really high at the beginning, at the top end of the price range, which was a bit strange, so I think that scared off some first-home buyers,” Mr Saville said.

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A downsizer offered $570,000, well above the reserve. Two other parties, including the eventual buyer, offered $10,000 each, and then the bids dropped to $1,000.

The successful bidder, a western suburbs mother, eventually paid $1000 for the apartment. The underbidder made just one offer in the final moments of the auction.

Mr Saville said apartments offered a more affordable price for buyers looking to break into the affluent Kew market.

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