13 Hakea Drive, Montrose, unexpectedly topped the $1m mark at auction.
Melbourne home sellers and buyers are being warned they could get less if they delay their plans amid challenging conditions for both sides.
But at a Montrose auction yesterday, both sides were thrilled as 13 Hakea Drive sold $41,000 above expectations to a buyer who hadn’t even been planning to attend.
Ray White Ferntree Gully’s Cristine Jones said she hadn’t expected to even make the top of the range for the sale after watching buyers concerns rise over the week ahead of the auction.
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“I thought I would only have two buyers,” Ms Jones said.
“Our buyer didn’t think they were going to come today, they didn’t think they would get it.”
In the end, four competed and the home sold for $1.011m — decently above the $970,000 point, where it was called on the market.
However, Ms Jones said the weeks ahead could become more challenging with the possibility of further disruption for vendors and more rate hikes for buyers.
The one-owner house has spent decades in the same hands.
Peaceful surrounds mean plenty of local birdlife stopping by the house.
“If things are going to change as much as they have in the past few months, you could get less selling your home,” she said.
“There might be a bit of a correction if there’s not as much competition.”
The home’s vendors Gordon and Barbara Woodhams were “ecstatic” with the sale that will temporarily make them millionaires — until they make their next move to downsize.
“For a little while it will be fun to be a millionaire,” Ms Woodhams said. “I never thought we would be.”
But there were plenty of nerves in the lead up to the auction, with the pair listing their home about 1.5 weeks before the United States and Israel attacked Iran — and the March interest rate hike.
Exposed timber beams and open-plan living combine for a character-filled home.
The kitchen is set for entertainers to make the most of.
Working in their favour were a few decades of meticulous home care, preparing it to look as ready for the next family as possible, and a tree-filled neighbourhood that attracts plenty of wild life.
On the other side, Holly and William Lewis were thrilled to buy a new home for their youngsters, aged one and three, and their dalmatian.
They recently sold their three-year-old home in Mooroolbark and were “glad we sold when we did”, as they’d been watching interest rates closely ever since — and almost skipped yesterday’s auction.
“We almost wrote it off … we just thought that with the bigger block and the perfect location, we weren’t sure it would fit in our budget,” Ms Lewis said.
“So we were surprised to get the home, we didn’t have our hopes too high.”
The house has multiple living areas with a view.
The home’s bedrooms are spacious and light filled.
Her advice to those still looking to buy is to “just have a crack”, and to not be overly picky.
“You may need to compromise, but long-term you can make anything your own,” she said.
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