domain property details: 3 bedrooms, 2 bathrooms, 1 parking.
auction date: 21/3/2015
key selling points: 458 sq2, polished wooden floorboards
key drawbacks: timber house, house walls needs renovation, flat land
rental potential: $500 per week
my sale expectations: 800 – 900k
the auction included three parties, bids (k) identified by font:
- 800 1st party starting price
- 850 2nd party
- 860
- 870
- 880
- 900
- 910
- 915 5k increase (slowing)
- 920
- 925
- 930
- 935 3rd party
- 940
- 955
- 965
- 970
- 980 10k increase (capping)
- 983 3k increase (slowing)
- 985
- 990
- 995
- 997
- 998
- 990
- 995
- 1 mil 5000
sold price: AUD $1,005,000
yield on sales price: (500×52/1,005,000) 2.6%
comments: three parties, higher starting bid than expected, 70 people at auction.
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