Brighton 42a Black St - Sold After Undisclosed - Bidderman 2. David Hart working hard to get some action, eventually passing it in at $2,100,000 and selling it afterwards

Auctions were quieter today in terms of bidder numbers. Of the four properties we attended in Brighton/Brighton East, all passed in.   Of the 5 auctions in Bayside that we covered, there were only 9 bidders; with only one selling under the hammer.   Does this mean that vendors have become excited by the hype surrounding the market and raised their expectations higher or does it mean buyers maybe slowing a little? Please note only one remains unsold at time of writing so four have sold between hammer time and 6.00pm

Thirteen  days into March and figures show at least 24 sales over $1,000,000 in Bayside – that’s nearly two per day! Year to date 98 sales reported over a million compared with 55 year to date this time last year In Bayside.  There were 16 in Brighton alone and all methods seem to be selling. 

Two big ones for Kay & Burton were 60 St Andrews Street, managed by Justin Follett of Kay and Burton, selling privately for $2,900,000 and 23 Drake Street, with Sturt Hinton running an expressions of interest campaign, successfully achieving more than $2,800,000 for the new townhouse.

Jonathon Dixon of JP Dixon auctioned 2 Connor Street, Brighton East. A good family home on 660 sqm but still managed to pass in with 3 bidders at $2,170,000 (the agent negotiating afterward and successfully obtaining at least another $100,000 from the purchaser).

Jason Gill of Hodges Real Estate auctioned 13 Churchill Court, Brighton East, on 728 sqm, which passed in with no bids at $1,850,000. He advised things are strong and he’s confident he has more than enough buyers out there at the moment to negotiate sales for most properties.

Mark Earle of Buxtons had a good sale with 42 Abbott Street, Sandringham auctioning today for $1,420,000.  A solid result for this renovated Edwardian on 493 sqm of south facing rear land on a busy road.

With most properties selling via all methods at the moment, now, more than ever, it is important to think about how you are going to buy your property.  For example, if it is a private sale, what price should your offer be?  What should you do if it isn’t accepted?  In an expression of interest campaign – how do you know if you have any other legitimate competition?  Is it a one off best offer price?  How should you work out your price?  With many properties passing in at auction, but still selling - if you are successful in obtaining the right to negotiate how will proceed from that point?

With over 50 auctions ($million+) scheduled in the next fortnight as buyers you might want to keep your eyes open.

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