John Clarkson of Hocking Stuart on his way to producing a stellar result (for the seller) at 38 Montclair Avenue Brighton North

To quote Rodney Morley of TBM real estate  at the auction of 23 Loch Street today, “That’s 8 of you!”  – and the bidders weren’t just there.  They were everywhere!  Loch Street, in St Kilda West, was buzzing with a crowd of more than 150 and bids came from everywhere.

Stuart Lopez of Kay & Burton achieved a fantastic result at 40 Sussex Street, Brighton.  Considered land only (725 sqm) by many, it sold for $3.25M.  That’s  a little over $4,500 per sqm.  Further down south, Hocking Stuart’s pair Stephen Tickell and Jenny Dwyer sold 5 Jennings Street, Sandringham for $1.85M.  With a feeling of yesteryear, this property needed a lot of work, and was rated as such.  If you put no value in the house (although many would keep it),  at 749 square metres, that’s almost $2,500 per sqm.

Family homes sold well today: John Clarkson of Hocking Stuart, sold 38 Montclair, Brighton for $2,225,000 with 3 bidders.  A property in Alicia Street, Hampton that did not move at all last year has sold via an expression of interest campaign, and we believe it sold this week for a little over $4M.  Leigh Hallamore and Bert Stewart of Buxtons ran a good campaign at 2a Rippon Grove, Brighton, selling under the hammer in the early $3M’s.

And it wasn’t just family homes selling today with multiple bidders -  the Leigh and Bert duo continued on to successfully sell 170 Were Street, Brighton, a small townhouse, for $1.283M with 5 bidders; up from just under a million when it last sold about 18 months ago.

The question now is whether this is a sign of things to come.  Will bidders remain at these numbers?  Will an increase in properties affect the current heat in the market?

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