Auctions deliver great results on the Bellarine

AUCTIONS are again proving to be the most valuable way for vendors to achieve the best possible result for their property in such a competitive market.

Hayeswinckle Drysdale was spot on bringing 25 Takanna Avenue, Clifton Springs, to auction over the weekend, with the vendors over the moon in achieving $95,000 above reserve.

The opening bid was $450,000 and three active bidders then pushed the property well past the reserve of $455,000 to see the property sold for $550,000 to local investors.

Hayeswinckle sales consultant Michaela Miller said that with more than 50 groups throughout the campaign inspecting the home, they were confident of a great result. “We had interest from Melbourne-based investors, however our two main bidders were local to the area, with our purchaser a Clifton Springs local looking to invest back into the area.

“By a local buying it, it really goes to show how our market is booming and expected to still rise.

“We’re still so under-valued considering our proximity to the bay, the Geelong CBD and with a lot of people now having the ability to have their workplace possibly in Melbourne, but able to work more from home.

“It will be the perfect investment as it’s low maintenance and will appeal to a lot of the rental market, which is in such incredibly high demand.

“Auctions are still so rare in Clifton Springs, with a lot of people saying they don’t work and we’re a ‘private sale market’ and keep commenting on how we’re not Geelong or Melbourne, which is heavily auction-based. This campaign and result just goes to show that’s not the case and we’re in a thriving market with no signs of slowing down.”

This comes off the back of another great Bellarine Peninsula auction result at St Leonards for RT Edgar with the sale of 103 Bluff Road for $770,000 above the reserve price.

The property was sold for $1,830,000 after 32 bids were placed from 10 registered bidders.

RT Edgar sales consultant Aaron Jones said there was significant interest in this property throughout the campaign.

“We had six opens and more than 90 people through with a diversity of interest coming from the city, regional and local buyers,” Mr Jones said.

“The auction started strongly with the first bid at $1 million being just under the reserve of $1,060,000. In the end it was local buyers who secured the property to build their dream home.

“Auction campaigns like this assure vendors get the best possible price for their property in this very competitive market.”