Four-bedroom Montmorency house sells for $235,000 above reserve

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The home, on a large block backing onto a reserve, sold for $1,475,000, with three bidders sending the price soaring.

A four-bedroom home in Montmorency, in Melbourne’s north-east, on a stepped triangular block sold for $1,475,000 at auction on Saturday, with three bidders pushing it $235,000 above its reserve.

One of a street of homes built by the same builder in the late 1970s, and backing onto a flora and fauna reserve, 30 McCarthy Grove sits on 928 square metres of lush green land, with a red-brick undercover terrace, polished floorboards, a ground-level rumpus room, an upstairs entertaining area and a secure double garage.

The property was one of 773 scheduled to go to auction in Melbourne last week. By Saturday evening, Domain recorded a preliminary auction clearance rate of 57 per cent from 515 reported results throughout the week, while 89 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.

The preliminary clearance rate sits just below the 59 per cent from the previous week. There were almost 150 more auctions scheduled this week as the unusually quiet spring auction season ramps up in its final month before the Christmas and January break.

The Montmorency home had a listed reserve of $1.24 million, which Ray White Eltham agent and auctioneer Jackson Ball said was advertised “a little bit earlier” than the seven days before auction required by law. The earlier notice gave the vendors two weeks “to get a bit of a sense on what the reception would be from the market”, Ball said.

The auction opened with a genuine bid of $1.1 million, jumped in $20,000 and $10,000 increments from three bidders, quickly passed the $1.24 million reserve – at which it was declared on the market – and hit $1.32 million.

From there, two local families looking to upsize duked it out until the finish. The winning bidders were a couple with two children who attend nearby Montmorency South Primary School.

Ball said the property was competitive because of its “emotional pull”, given its proximity to both bushland and the primary school.

In Richmond…

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