$8 million Brighton beachfront sale rounds out Melbourne's ascending autumn auctions

A clearance rate of 82 per cent was recorded across Melbourne to round out Autumn auctions on an improving success rate.

The weekend results compared to 80 per cent last weekend and 71 per cent the same weekend last year.

There were 1035 auctions reported to the REIV, including the mid-week auction of a Brighton beachfront at $8.04 million.

The auction sales totalled $790 million.

It had been offered with $6 million plus price guidance through RT Edgar on Brighton's true Golden Mile. The two-storey three bedroom brick residence has marble fireplaces, polished boards and stained glass panels on its 683 square metre block.

It was marketed as an "opportunity of owning one of Brighton's fifty-one beachfront properties." After 46 years ownership, it was secured by a New York based expat who beat five other bidders to purchase the knockdown property.  

 

The REIV was expecting about 1,240 auctions across 277 suburbs through the weekend.

Houses were stronger sellers than apartments, with 84% selling compared to 78% of apartments.

Houses sold at a $924,250 median, with $590,000 for the unit median, according to Enzo Raimondo, the REIV chief.

The busiest auction locations were Reservoir and Camberwell with 20 auctions followed by Brighton with 14 auctions.

REIV TOP 5 HOUSES

1. 3 Miller Street, Brighton $8,040,000
2. 36 Wentworth Avenue, Canterbury $3,950,000
3. 6 York Street, St Kilda West $3,500,000
4. 24 Northcote Road, Armadale $3,000,000
5. 3 Percy Street, Balwyn $2,950,000

REIV TOP 5 BARGAIN HOUSES
1. 11 Allawah Court, Hoppers Crossing $290,000
2. 4 Currawong Street, Mornington $300,000
3. 11 Mica Court, Kings Park $314,000
4. 50 Learmonth Crescent, Sunshine West $326,000
5. 2 Silverton Court, Craigieburn $330,000

REIV TOP 5 APARTMENTS
1. 10B Roselyn Crescent, Bentleigh East $1,420,000
2. 4/31 Cookson Street, Camberwell $1,340,000
3. 5A/9 Beach Street, Port Melbourne $1,230,000
4. 22 Stillman Street, Richmond $1,221,000
5. 2/45 Park Street, South Yarra $1,200,000

REIV TOP 5 BARGAIN APARTMENTS
1. 3/6 Hatfield Court, West Footscray $220,000
2. 4/230 Ascot Vale Road, Ascot Vale $236,000
3. 2/5-7 Princes Street, Abbotsford $270,000
4. 3/24 Methven Avenue, South Morang $272,500
5. 11/69-71 Delhi Court, Travancore $285,000

Source REIV