Knox in-room auctions fetch $4m and new record set in Rowville estate

A NIGHT auction event in Ferntree Gully has proven a success, with a more than 83 per cent clearance rate achieved.

Sellers reaped nearly $4 million in the in-room auction event as five out of six properties were sold by Ray White, Ferntree Gully on April 12. One property was passed in.

Home buyers were also happy with the approach, with several at the event bidding for other properties after missing out on properties auctioned earlier in the night, agency director Patrick McConnachie said.

“We are seeing buyers bid for several properties at such events and auctions are becoming more popular in areas not used to having such sales,” he added.

“In many cases now, when we meet sellers, they prefer to go to auction because of the prices they can get.”

The auction event, one of several the Ray White group holds in Knox each year, attracted more than 100 people with 31 bidders in attendance.

Two properties attracted the most attention, with 10 bidders vying for each. The competition for a three-bedroom house at 3 Rivette St, Scoresby, drove it to sell for $690,000. Also popular was a three-bedroom abode at 62 Frudal Cres, Knoxfield, which changed hands for $640,000.

Selling agent Aaron Clarke said the location of both properties was the main factor for the keen interest from buyers.

Full article available online.

Article Author: Ming Haw Lim News Corp Australia Network