Bay Street, Brighton $4.85 million weekend top seller adds to the $1.8 billion 2013 Melbourne auction sales tally
A Bay Street, Brighton house was Melbourne's highest weekend auction sale.
The $4.85 million sale through Buxton came after two bidders in a weekend when the REIV reported a 69% auction success rate.
Recent Brighton private treaty results have included a quiet one in Blairgorwie Court, Brighton which has been on the market for some time.
The buyers agent Mal James suggests it was sold for over $6 million through Jonathan Dixon of JP Dixon.
It was sold by the mining executive Peter Reeve and his wife Anne.
Mr Reeve, an executive director at Havilah Resources, put the 1920s-era house on 2700 square metres with a pool and tennis court,with initial $7.5 million hopes.
The Reeves had paid a reported $7.05 million at the peak of the market.
Brighton was in the news last week with still unconfirmed reports that a St Ninians Road property was bought by the retired Australian cricket captain Ricky Ponting for about $10 million.
And another private treat sale was 17 Albert Street, Brighton that has been sold for just over $4 million through Ian Jackson having previously sold in April 2010 for $3.9 million.
The weekend Melbourne clearance rate of 69% was compared to 61% last weekend and 58% this weekend last year.
There were 804 auctions reported to the REIV this weekend, with 557 selling and 247 being passed in, 134 of those on a vendor bid.
"This year there has been an increase in the overall value of residential sales at auction with $1.8 billion worth of homes having sold compared to $1.5 billion this time last year," Enzo Raimondo, the REIV chief said.
"The value of private sales is also estimated to have risen from $3.9 billion to $4.5 billion."
Next weekend the REIV expects around 1,210 auctions and this is likely to be the 5th biggest weekend on record.
