No day of rest for auc­tions

Sunday Herald Sun - - Real Estate - SCOTT CARBINES AND GINA CERASIOTIS

SUN­DAY auc­tions have been boosted this year with more peo­ple sell­ing their homes on the tra­di­tional day of rest.

Real Es­tate In­sti­tute of Vic­to­ria data shows there have been 714 Sun­day auc­tions this year — al­most 10 per cent more than at the same time last year.

Sales fig­ures have also been strong, with a clear­ance rate of 81 per cent.

Caulfield North is the city’s Sun­day auc­tion hot spot, with 90 homes go­ing un­der the ham­mer and 80 per cent sell­ing.

Nearby Caulfield South, St Kilda East, Caulfield and El­stern­wick are Mel­bourne’s other busiest sub­urbs for Sun­day auc­tion ac­tiv­ity.

REIV pres­i­dent Joseph Wal­ton said cul­tural and re­li­gious fac­tors were the main rea­sons for choos­ing Sun­day.

“Sun­day auc­tions in pre­mium in­ner-city ar­eas ap­peal to a wide range of buyers, with auc­tion vol­umes set to in­crease as the spring sell­ing sea­son heats up,” he said.

“Re­duced auc­tion com­pe­ti­tion on Sun­day is boost­ing buyer at­ten­dance and de­liv­er­ing solid re­sults for ven­dors.”

About 40 auc­tions are sched­uled for to­day, in­clud­ing nine in St Kilda East, four in Caulfield and three in Caulfield North. In Ar­madale, the home of in­te­rior de­signer Jean-Pierre Heurteau at 505 Dan­de­nong Rd will also be auc­tioned.

Gary Peer Caulfield agent Adam Joske said open for in­spec­tions and auc­tions on Sun­days were im­por­tant to ac­com­mo­date the Jewish com­mu­nity.

“We don’t be­lieve we have strong Jewish in­ter­est (in 505 Dan­de­nong Rd), how­ever we are do­ing it so we can get a com­pet­i­tive ad­van­tage by be­ing one of prob­a­bly the only Sun­day auc­tions in Ar­madale this week­end, so we are giv­ing our ven­dor a com­pet­i­tive ad­van­tage,” he said.

“In­spec­tions on Sun­days mean that the buyers who can’t make Satur­day can make Sun­day, and it’s more ac­com­mo­dat­ing as they can see prop­er­ties over the week­end on two days. The num­ber of buyers in­spect­ing our prop­er­ties are greater than most be­cause we have two days rather than the one.”

Mr Wal­ton said 2017 had been strong for Sun­day auc­tion ac­tiv­ity but it was likely to fall short of the busiest year on record, which was 2015, when 1321 auc­tions were held.


In­te­rior de­signer Jean-Pierre Heurteau’s Ar­madale home will be auc­tioned to­day.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.