9 Lancaster St, Bentleigh East, sold for $1.831 million
BENTLEIGH East is now Kingston and Glen Eira’s auction hot spot, with more than 400 homes going to auction so far this year and 193 sold under the hammer.
The suburb is well ahead of nearest rivals Bentleigh, which flagged in second place with 213 auctions, and Cheltenham, where 204 homes have gone under the hammer.
The achievement comes as Bentleigh East notched one of its busiest auction weeks of the year recently.
The suburb thrust its way into the local limelight in the week ending October 22, hosting a whopping 18 auctions.
The auction flurry surprised local agents, with one describing it as “spring sprung late”.
O’Brien Real Estate Hampton East/Moorabbin sales agent Spiro Vasiliadis said five bidders “went crazy” at the auction of a property at 9 Lancaster St, which sold for $231,000 above reserve.
The 1940s three-bedroom home is on 724sq m in the McKinnon Secondary College zone.
“The vendors built the home but they had recently passed away,” Mr Vasiliadis said.
“It basically sold for its land value.
“The opening bid was $1.5 million and it was on the market at $1.6 million.
“It sold for $1.831 million.”
Mr Vasiliadis said Bentleigh East generally had five to 10 auctions on a weekend, with about 500-700 sales in total in a year.
“But the market is still very very good and spring has sprung late, I guess,” he said.
“We didn’t really have lunch on this weekend.
“It was a very busy time for us.”
Mr Vasiliadis said the McKinnon Secondary College zone was a big attraction for Bentleigh East buyers.
CoreLogic data reveals 12 of the properties auctioned on October 28 cantered to a sale under the hammer, with six passed in.
SUBURB PROFILE: BENTLEIGH EAST
Originally published as Bentleigh East an auction hot spot as suburb springs to life
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