Inner city Richmond highlights Melbourne auction resilience

Inner city Richmond highlights Melbourne auction resilience
Jonathan ChancellorDec 14, 2014

A five-level, 400-square-metre Richmond warehouse - once used as malthouse silo - fetched $2,511,000 after its weekend Biggin and Scott auction.

The three-bedroom apartment had attracted just the one bid of $2.22 million when 2/24 Abinger Street (pictured above) went to auction.

The property in the Richmond Hill pocket has an indoor salt-water heated pool, beneath a retractable roof.

The sale was among the weekend clearance rate of 70%, up compared to 66% last weekend and 68% this weekend last year, according to the REIV.

There were 1,266 auctions reported to the REIV this weekend, with 881 selling.

The inner Melbourne region has had the highest clearance rate so far this year, at 73%.

The busiest auction suburbs so far this year are Reservoir, Richmond, South Yarra and St Kilda - with over 450 auctions held in each.

Melbourne has recorded an unprecedented five Saturday’s in a row.

Richmond was the most popular auction suburb with 24 offerings, along with Mount Waverley.

The REIV listed 11 sales among its 13 Richmond results. The Abinger Street offering was the top apartment sale.

Top 5 Houses

  • 133 Canterbury Rd MIDDLE PARK $3,740,000
  • 378 Beach Rd BEAUMARIS $3,700,000
  • 80 Kooyongkoot Rd HAWTHORN $3,085,000
  • 3 Mclachlan St NORTHCOTE $2,782,000
  • 352 Montague St ALBERT PARK $2,710,000

Top 5 Bargain Houses

  • 166A Widford St BROADMEADOWS $242,500
  • 13 Langibanool Av HAMLYN HEIGHTS $251,000
  • 5 Redpath Cl EPPING $295,000
  • 25 Newgrove Rd HEALESVILLE $300,000
  • 96 Laura Av BELMONT $311,000

Top 5 Flats/Apartments

Top 5 Bargain Flats/Apartments

  • 111/44 Barkly St ST KILDA $185,000
  • 9/150 Brunswick Rd BRUNSWICK $227,500
  • 4/28 Hopetoun St MOONEE PONDS $232,000
  • 8/149 Melrose Dr TULLAMARINE $235,000
  • 10/23 Robe St ST KILDA $271,000

Source: REIV.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.