It was a quiet weekend for auctions in the Border and North East regions at the weekend, with only four properties up for bidding, none of which sold under the hammer.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Negotiations over a large-five bedroom home at Baranduda continued at the weekend after the house was passed in.
An opening bid of $1.25 million was made with multiple bidders vying for the property.
It was passed in at $1.325 million.
Agent William Bonnici said negotiations continued with multiple people over the home, which sat on a 3790 square metre block on Chervil Place.
The property has space for five cars, a pool, spacious living area, and large outdoor entertaining area.
He said such homes were somewhat rarer as lots became smaller in the region.
"It's on nearly an acre," Mr Bonnici said.
"There were multiple bidders and a good crowd too.
"People were really interested."
Mr Bonnici said while it would be foolish to think rate rises wouldn't impact the market, "money is still very cheap".
Some buyers were keen to lock in loans before predicted rate rises.
"Housing stock numbers are still up there," Mr Bonnici said.
We're still listing and selling those million dollar properties
- First National real estate agent William Bonnici
"We're still listing and selling those million dollar properties.
"To give an insight, last year we sold 15 properties over $1 million.
"We've sold 17 over $1 million so far this year, and we're only halfway through."
In other results, a townhouse on Stanley Street in Wodonga passed in with a vendor bid of $640,000 on Saturday.
The three-bedroom home is a short distance from Wodonga Plaza, but failed to attract a buyer at that price.
IN OTHER NEWS
A unique 6.3 hectare block of land, which features a large dam stocked with hundreds of Murray cod, also failed to sell during an auction on Saturday.
The land on Michelle Drive at Kiewa had an agent's price guide of $700,000 to $750,000.
The dam is large enough that it attracts birds and native wildlife.
A two-bedroom unit on Pemberton Street in Albury, a short distance from Thurgoona Street, also failed to sell at auction.
Negotiations were also continuing between the agent and potential buyers with that property.
Our journalists work hard to provide local, up-to-date news to the community. This is how you can continue to access our trusted content:
- Bookmark
- Make sure you are signed up for our breaking and regular headlines newsletters
- Follow us on Twitter: @bordermail
- Follow us on Instagram @bordermail
- Follow us on Google News
