Young Family Secures $1M Inner-North Home, Outbidding Downsizer
A family in Brunswick East has successfully secured a stunning clinker-brick home for $1.02 million after an intense bidding process. This three-bedroom, two-bathroom property at 57 Ryan Street exceeded its initial price expectations, selling for $30,000 over the guide set between $900,000 and $990,000.
Details of the Sale
The auction took place on Saturday, with three bidders competing for the charming residence located near a former electricity substation. The presence of a recently acquired parcel of ex-council land significantly enhanced the property’s appeal.
- Final Sale Price: $1.02 million
- Price Guide: $900,000 – $990,000
- Reserve Price: $945,000
- Bid Opening: $875,000
Ben Calcagno, an agent and auctioneer from Barry Plant Brunswick, mentioned that bidding began at $875,000. The prices steadily climbed with increments of $10,000 and $5,000 until the property ultimately sold.
Who Were the Buyers?
The winning bidders were a young family intending to use the home as their first purchase. They outbid both an older downsizer and another young couple eager to relocate to the neighborhood.
Market Insights
Calcagno described the current market as leaning more toward buyers, emphasizing that well-priced properties can nonetheless perform well at auction. He attributed the desirability of this location to its proximity to Brunswick East Primary School and the added value of the additional land parcel.
Other Auction Highlights
In a separate sale in Craigieburn, a spacious four-bedroom home sold for $897,500, also exceeding expectations. This property at 98 Golf View Drive had a price guide of $840,000 to $860,000 and featured multiple living areas and an outdoor dining space.
- Final Sale Price: $897,500
- Price Guide: $840,000 – $860,000
- Location: 98 Golf View Drive, Craigieburn
- Buyer Profile: A couple from South Morang
Ray White Craigieburn’s auctioneer Phong Ho reported an engaging bidding process that began at $840,000 before fluctuating to smaller increments. The buyers were motivated by a desire to secure this property after missing out on another they were interested in.
