Newport family sells Tuesday, buys Saturday,
A family successfully purchased a Newport house at auction on Saturday for $2,041,000.
They managed to sell their current home in the same suburb off-market just days before the auction took place.
The deal was an unconditional sale completed on Tuesday, allowing them to bid on their desired property.
This four-bedroom home at 132 Woods Street was larger and better suited for their family of six.
Jellis Craig’s Anthony Kristakakis listed the property for sale, quoting a price range of $1.88 million to $1.98 million.
According to Kristakakis, the buyers had been searching for a suitable home for about four years.
Additionally, his agency managed the off-market sale of the buyers’ previous home, streamlining their transition.
“I hadn’t sold anything like 132 Woods Street before,” Kristakakis remarked about the property.
The house featured a double garage, which was particularly appealing to buyers with a caravan.
He noted, “I can’t remember the last time I sold a property with a double garage and side access.”
The auction began with a low bid of $1.6 million, immediately followed by a vendor bid of $1.88 million.
The reserve price was set at the top of the quoted range, and the auction intensified thereafter.
Once the property was declared on the market, two bidders began competing fiercely for it.
“Then we were taking $1000 increments all the way from $2.02 million to $2,041,000,” Kristakakis explained.
This auction was one of 999 scheduled for Saturday, showcasing the active real estate market.
In Yarraville, a two-bedroom house also sold to a downsizer during a separate auction event.
The property at 86 Blackwood Street was a modern build featuring off-street parking for added convenience.
It was listed with a quoted price range between $950,000 and $1,045,000, attracting significant interest.
“It was built with the intention to be lived in, but the owners ultimately had to sell,” stated listing agent Huss Saad.
He added, “It’s a townhouse setup, but it has no adjoining walls, ensuring privacy for the owners.”
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A significant amount of money has been invested in the property.
The owners made a wise decision by constructing a tall electric gate at the front entrance.
When you drive through, you can close the gate behind you.
As a result, it creates a sense of separation from the bustling city.
Saad mentioned that the auction commenced with a vendor bid at the lower end of the price range.
Ultimately, the home sold for $1.16 million, while the reserve price was set at $1.05 million.
Interestingly, there were only two buyers who continuously raised their bids without hesitation.
He noted that the buyer was relocating from the nearby area of Williamstown.
