Moonee Ponds home sells for $2,817,500 after bidding stalls at auction
Bidding stalled at $2.79 million, but the house later sold for $2,817,500.
A five-bedroom house at 58 Vine Street, Moonee Ponds, later sold for $2,817,500 after passing in at auction. Bidding stalled at $2.79 million on Saturday, and the home did not sell on the day.
The reserve, which is the lowest price the sellers would accept, was $2.85 million. The sellers, who are moving to Queensland, were willing to meet the market.
The buyer is a local upsizer, meaning someone moving to a bigger home. The selling agent said the home had been renovated in the past 12 months.
Across Melbourne last week, Domain's preliminary clearance rate was 58 per cent. The clearance rate is the share of auctions that sold on the day.
AMP chief economist Shane Oliver said the figure is still soft and likely to be revised a few points lower.
- $2,817,500
- Sale price
- $2.85 million
- Reserve price
- 710 in Melbourne last week
- Auctions scheduled
Why it mattersBuyers and sellers at auction will see the minimum price a week before bidding starts.
AustraliaSellers at auction must publish their reserve price a week before, under rules starting October 16.
✓ Claims checked against the source. checked 1 h ago
Open this story in InSnip →
