Byron Bay couple snaps up Fitzroy unit for $620,000
ByMelissa Heagney-Bayliss
February 4, 2023 — 4.42pmKEY POINTS
- The Fitzroy unit sold for well above the $535,000 price expectations.
- A fixer upper in Preston was snapped up by a local family for $817,000.
- Two properties came up for auction in Eltham North with one selling for $1.2 million, and the other passing in at $1.35 million.
PROPERTY LISTINGS
Byron Bay investors outbid local buyers for a one-bedroom Fitzroy unit at auction on Saturday, pushing the bidding well above the advertised price tag.
The couple paid $620,000 for the apartment at 3/144 Nicholson Street, which had been advertised at $535,000, and bid against two local parties to secure the keys to the unique unit in a converted Victorian-era home.
Buyers braved Melbourne’s icy blast on Saturday to compete for a unique one-bedroom unit in Fitzroy, which sold for $620,000.CREDIT:PENNY STEPHENS
Though there were multiple bidders, competition was slow to start. Jellis Craig Fitzroy auctioneer and partner Charlie Atkins called for offers, but was forced to make a vendor bid of $510,000, when the crowd, huddling under umbrellas, remained silent.
Offers soon followed suit, and the bidding rose in increments ranging from $20,000 to $1000. A final bid increase of $4000 sealed the deal for the NSW-based buyers in a matter of minutes.
The unit was one of 388 properties scheduled to go under the hammer in Melbourne on Saturday, as the city’s auction market swings back into action for the year.
By Saturday evening, Domain Group recorded a preliminary auction clearance rate of 70.8 per cent from 219 reported results, while 15 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
