Market warming up
are willing to wait for the right property and price,” he said.
Mr McCabe said that was evident at 6/69 Morang Rd, Hawthorn, where a twobedroom apartment appealing to first-home buyers, investors and downsizers was passed in for $520,000 before selling for $530,888.
“It’s definitely a great time of year to be a vendor, but this price shows how the willing but not anxious buyers of the current market are able to remain calm and still get a good price,” he said.
The same couldn’t be said at Cheltenham, where O’Brien Mentone agent Trevor Bowen claimed a new “golden triangle” record at 20 Mena Ave, selling for $1.29 million.
“There were 37 bids from seven bidders, starting at $800,000,” Mr Bowen said.
The sale eclipsed a $1.27 million auction sale last September at nearby Shipston Rd.
More than 900 auctions are scheduled this week.