The downsizer had two properties she was prepared to buy on Saturday morning, and sent her son to the Richmond auction to bid on her behalf while she attended another auction in a nearby suburb.
A dilapidated Abbotsford home sold under the hammer for $700,000.A Richmond terrace has sold for $1.9 million to a very determined buyer, who phoned in from another auction she was attending.
Bids of $10,000 flew between the downsizer’s son, who had his mother on the phone, and one other party. The home went on to sell for $50,000 above the reserve – before the second auction had even started. The result was well above the $915,000 that records show the vendors paid for the previously unrenovated home in 2015.“There’s still a lack of stock on the market for these quality renovated homes, we need more of them,” Gill said.“A lot of people are still nervous about renovating a home because of the market and the extra costs, but it is opening up opportunities for unrenovated houses. The price differences are so great at the moment.
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