property
Hawthorn Auctions Deliver Standout Results With Multiple Sales Above Reserve
Three properties cleared their reserves by wide margins during the July 5-6 round, underscoring sustained demand along key local corridors.
How we reported this
Three Hawthorn homes sold above reserve at the weekend auctions, led by a four-bedroom terrace on Wattle Road that fetched $2.35 million against a $2.1 million guide.
Buyers moved quickly despite broader economic signals from overseas supply disruptions and European political shifts. Local agents reported 48 registered bidders across the four scheduled auctions, up from 41 the previous month, as families locked in positions before the August school-term deadline.
Prime Streets Set the Pace
Properties on Wattle Road and near the Hawthorn Library on Glenferrie Road drew the strongest competition. One two-storey weatherboard at 18 Wattle Road exceeded its $1.65 million reserve by $185,000 after nine bids. A unit in the rear lane behind the Hawthorn Community Gardens cleared at $945,000, $70,000 over reserve, after a 22-minute auction that drew two interstate investors.
Clearance rate reached 75 percent for the weekend, with four of the five listed lots finding buyers. Median auction price lifted to $1.48 million, $85,000 higher than the June average recorded by the Hawthorn Real Estate Association. The longest contest lasted 31 minutes on a three-bedroom cottage at 27 Mason Street, which sold for $1.92 million.
Next Steps for Buyers and Sellers
Four further auctions are already listed for the weekend of July 12-13, including a renovated Edwardian on Kooyongkoot Road. Prospective buyers should review the updated vendor statements now available at the Hawthorn Council planning counter and arrange pre-approval checks before open homes begin on Thursday. Sellers considering a late-July campaign are advised to finalise marketing photography this week to meet the next print-deadline cycle.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.