Latest news with #StevenZervas
News.com.au
5 days ago
- Business
- News.com.au
Melbourne property market shows winter strength
Melbourne's auction market is defying seasonal expectations, with clearance rates holding strong and buyers out in force despite the cooler weather. PropTrack recorded a 71.6 per cent clearance rate from 402 reported results this weekend, as buyers fought over a tightening pool of listings ahead of the spring rush. Several homes sold for seven-figure sums, led by a modern family home at 9 Macedon Ave, Balwyn North, which changed hands for $2.975m. Other top results included 33 Barina Rd, Glen Iris ($2.91m) and 22 Wilpena Place, Vermont South ($2.41m). In Mount Waverley, 38 Windsor Ave fetched $2.33m — well above its $2.05m reserve — after attracting six active bidders. Heavyside Boroondara auctioneer Steven Zervas said the single-level, turnkey home stood out from a crowded local market. 'There were 16 auctions in Mount Waverley on Saturday, but this was the only one of its kind,' Mr Zervas said. 'It was modern, high quality, and move-in ready, perfect for downsizers and families looking to get into a top school zone.' Matthews Real Estate director John Matthews said confidence was returning among renovators and boutique builders as costs stabilised. 'We're seeing more interest in period homes and dual occupancy projects,' Mr Matthews said. 'And some buyers are flipping again, that part of the market's waking up.' Mr Matthews urged buyers to build relationships with agents and stay alert. 'Some sellers are still hesitant to launch full campaigns, so off-market deals are happening — and we've seen some buyers do very well through them,' he said. Ray White Victoria chief auctioneer Jeremy Tyrrell said that hesitancy was driving up buyer urgency. 'Many sellers are still waiting for interest rate cuts, but buyers are already making moves,' he said. 'That shortfall in listings is creating real competition — and real results.' With listings expected to pick up in August, Melbourne's auction market could be shaping into an unusually busy winter season.
News.com.au
6 days ago
- Business
- News.com.au
Mount Waverley home stuns with $2.33m auction result
A Mount Waverley home has fetched $2.33m after a six-way bidding war — smashing reserve by $280,000 — as desperate downsizers beat out younger families for one of the suburb's only move-in ready homes this weekend. The single-level four-bedroom home at 38 Windsor Ave, was one of 16 properties to go under the hammer in the prized school zone on Saturday, but stood alone in offering a fully renovated, single storey move-in-ready lifestyle with pool, alfresco deck and luxe interiors. Heavyside Boroondara auctioneer Steven Zervas said the campaign drew more than 80 inspections, with 30 people attending the auction and six active bidders vying for the keys. Where Melb homes sell in 22 days 'Bidding opened at $1.9m, right at the bottom of the guide, and once it hit the $2.05m reserve it just didn't stop,' Mr Zervas said. 'We had really strong depth and competitive energy.' Mr Zervas said the eventual buyers, a semi-retired couple who had been renting just around the corner after relocating from the UK had already missed out on two properties and weren't going to let this one go. 'The underbidders were also downsizers, and they were gutted,' he said. 'The rest of the competition came from younger families who were just as keen, this was a home that really crossed demographics.' Featuring a deluxe kitchen with dual ovens, multiple living zones, a designer ensuite, and a seamless indoor-outdoor layout anchored by a salt-chlorinated pool, the home was marketed as a luxury family entertainer with zero renovation required. 'This was the only turnkey house on the market this weekend,' Mr Zervas said. 'Everything else that went to auction for this type of asset was a unit, townhouse or a knockdown.' Mr Zervas said the result showed strong demand from buyers with 'zero appetite' for major renovations, especially among those chasing access to Mount Waverley Secondary College, Avila, Huntingtower and Wesley. 'With school enrolments on parents' minds, people are planning now, not waiting for spring,' he said. 'August and September are sweet spots. 'Once spring hits, your home could be one of 30 auctions on the same day.'
