Frankston buyers refuse to wait for sale day, driving pre-auction sales
BUYERS have made offers vendors can’t refuse as the tight supply of houses for sale continued in the Frankston region, according to local agents.
Many homeowners have even accepted offers in pre-auction deals in recent weeks.
Buyers have faced significant competition at auctions and for private sales in recent weeks.
A Sydney buyer recently flew in to inspect 4 Greenhood Place, Langwarrin, and made a $1.13 million offer prior to the planned September 10 auction.
“They made an offer that was above the owners’ expectations and there were two other offers of just under $1.1 million,” UFirst Real Estate director Juan Merchan said.
“The family from Sydney loved the three-year-old home and wanted a spacious lifestyle property.”
The offer set a new price record for a house on less than 1500sq m in Langwarrin, Mr Merchan said. It was slightly higher than the $1.06 million fetched by 10 Woodmarsh Drive in December 2015, according to CoreLogic.
UFirst also had two recent before-auction sales, with a two-bedroom unit at 3/645 Nepean Highway, Frankston South, selling to a Vermont South buyer for $466,100. It had a guide of $395,000-plus.
The sale meant that the property’s price had risen $141,100, more than 43 per cent, on its $325,000 selling price in March 2015. The unit was on 182sq m in popular Olivers Hill.
In Seaford, a Hampton investor paid $534,000 for 25 Moomba Ave. The home had a price guide of $450,000 plus.
In Frankston South, an original brick home sold for $1.25 million after its first open for inspection. No. 39 Alicudi Ave was expected to fetch more than $1.1 million at its September 17 auction, Rob Ferguson of Eview Group said.
Interest from four buyers pushed the price high enough to entice the owners to sell and proceed with plans to downsize to the Mornington Peninsular.
“After the first open, four buyers expressed interest and a couple upgrading from Frankston made the highest offer of $1.25 million,” Mr Ferguson said.
On Sunday, September 25, a Frankston foreshore bathing box will be auctioned for charity. This is the third and final bathing box up for auction by the Frankston City Council and Rotary Club of Frankston Sunrise. About $230,000 was raised for community projects through the sale of two other bathing boxes in recent years.
Ray White Frankston agent Ashley Weston will be handling the sale with all proceeds going to charity. The sale of bathing box 19A is restricted to Frankston ratepayers.
SEE SUBURB PROFILE LANGWARRIN FRANKSTON SOUTH
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