Albury, Wodonga and Yackandandah Saturday auctions

The property at 1 Railway Avenue sold for $1.06 million, well over the $700,000 reserve price set.

The modest, single-story home, auctioned by PJ Murphy, sits on 8323m2 offering great views of the region.

It last sold in November, 2008, for just $147,500.

Saturday's purchase price marks a massive 619 per cent increase in value in 13 years.

In Albury, a four-bedroom red brick house on Jones Street sold for $1.32 million after 15 bids from two separate parties.

Auctioneer James Seymour, of PJ Murphy, told the crowd of about 50 people gathered in the rain the property was a "magnificent piece of prime real estate" on a "renowned" street.

He estimated the land value alone at 662 Jones Street was $630,000.

Saturday's sale price represents a 274 per cent increase in value since the property last sold in August, 2007, for $535,000.

Up north in Lavington, a four-bedroom brick home, auctioned by McGrath Real Estate, sold for $490,000 - a 31 per cent increase in value. The property at 28 Payerl Court last sold in April, 2009, for $374,000.

In Wodonga, a four-bedroom home with 2.7-metre ceilings at 8 Central Place sold for $60,000 over reserve.The property sold for $620,000 under the hammer to an online bidder from Melbourne.

The property last sold for $370,000 in March, 2014, having since increased in value by 68 per cent, while 38 Leonard Street - of solid brick, close to central Wodonga and sitting on 970m2 of land - sold for $90,000 above the reserve.

The art deco home was bought by a local investor for $555,000.

The sale represents a 152 per cent increase in value since the property last sold in March, 2012, for $220,000.

PJ Murphy agent Leon Kowski said that when combined the agency made sales of $3 million over four auctions on Saturday.

He said some of the great results shocked agents and sellers alike.

Mr Kowski expected the strong local market to continue right through to Christmas, with demand from city buyers still driving some of the current strength.

"There's talk of things slowing down but I haven't seen it yet," he said.

A dreary Saturday of rain had a number of homes passed in at auction, but the majority sold after later negotiations with bidders.

A two-bedroom, two-bathroom townhouse in South Albury sold for $635,000 after initially being passed in at auction.

The property at 394 David Street, sold by Stean Nicholls, featured a highly modern interior and sits within the Wighton apartment complex.

A large Lavington home with a self-contained unit downstairs sold for an undisclosed amount after being passed in at auction with a highest bid of $765,000.

Stean Nicholls auctioneer Nicholas Clark said 27 Panorama Place was well situated and beautifully renovated.

A double red brick home in central Albury was passed in for auction after attracting a highest bid of $650,000.

Auctioneer Philip Bell, of McGrath Real Estate, said 831 David Street was in an awesome location and its condition was immaculate.

Mr Bell said the Albury-Wodonga market had been on the rise for the past year.

"There's no signs of that letting up," he said.

Despite being passed in Mr Bell told the crowd he was quite confident they'd be putting a sold sticker on the David Street property shortly.

An aging South Albury home was also passed in at auction after attracting a highest bid of $392,000.

Mr Clark said the 435 Hovell Street block was a "marvellous piece of real estate" only 650 metres from central Albury's Dean Street.

He described the sale as a great opportunity for someone to develop their dream home in a central area of town or for investors to build in a blue chip location.

Negotiations with interested parties are ongoing for all unsold properties.

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