Melbourne homes have sold hundreds of thousands of dollars above expectations amid ongoing restrictions as the city hosted its first live auctions in weeks today.
But buyers had limited choices, with just 284 scheduled across the city for the week, according to realestate.com.au
The group reported a booming 94 per cent preliminary clearance rate from 131 results late yesterday.
Despite buyers being unable to travel more than 25km, homes sold more than $200,000 above expectations in suburbs from Blackburn North to Balwyn North and Oakleigh East.
Even a 1 Satinwood Court, Werribee, townhouse soared six-figures past its reserve.
With only a handful of homes going under the hammer for the day, Harcourts Judd White had two auctioneers on hand to sell 37 Baker Ave, Glen Waverley, for $1.641m.
Dexter Prack opened the sale and Andrew Dimashki brought the hammer down, with the pair tag teaming in and out throughout the auction.
Ray White Victorian chief executive Stephen Dullens said the agency had sold 24 of 25 auctions by 5pm, making it their strongest clearance rate of the year — though volumes were a fraction of normal levels.
The firm also moved four auctions to Sunday to give buyers another day to inspect, while auctions in Glenroy and Craigieburn were held as online-only events with concerns around crowd control.
It all followed a runaway result at 7 Pescott Close, Burwood, where Biggin & Scott’s Ming Xu called Melbourne’s first live auction in a fortnight on Friday night.
Despite kicking off after dark, the sale attracted four bidders and a $1.637m price far above the $1.35m the home was called on the market at.
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