Reserve Bank tax cut forecasts relate to MELB auction results, selling for $300,000 past reserves

16 Coburg Station St Station ST sold for nearly $300,000, which shocked the results.

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Shocking home sales results from multiple Melbourne homeowners have brought them out of the six figures better than expected.

Among the most unexpected sales yesterday, the Victorian four-bedroom Victorian home still scored $1.175 million despite a reserve price of only $880,000.

For the first sale since 1946, Station St Station ST, 16 Coburg Station, Home has been the residence of the same family since the 1930s – before moving to the tenant before continuing to buy it from the landlord.

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Nelson Alexander’s Ryan Currie scored a $840,000 opening bid, followed by five bidders jumping in.

Finally, the bid was dragged with a pair of Chihuahua and a young man and his parents.

It’s the couple’s, but that doesn’t stop the unpopular from congratulating them heartily.

But Mr Curry said bidders had cooled on the property overnight before the auction and chose not to bid.

After nearly a decade approaching the same family, shrewd updates have made the home appeal to modern buyers.

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In Coburg Station ST, Home still has a series of period functions on display.

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“There is a train line behind it and although its bones are good, many people decided not to work so hard,” he said.

Mr Currie added that it appears the prospect of lowering interest rates over a week, while some buyers lost their nerves, and the results exceeded expectations of $295,000, suggest that others clearly felt it was time.

Ferntree Gully also shocked suppliers and agents, with further signs that the market expects home values ​​to rise with future depreciation.

Jellis Craig’s Andrew Luke has four bidders hunting for 27 string chassis, three of which are lowered.

“They were cashed out and ready to go,” Luke said.

While the home has $1.4 million in reserves, the first place in the price guide, buyers have other ideas – pushing sales to $1.78 million.

A single floor plan helped 27 Stringybark urgently attract multiple decline measures, and they pushed the auctions beyond past expectations.

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Inside, the home is ready to find its new owner – including charming roof and wall features.

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“All buyers have said that they can’t exceed the advertising price,” he said. “But in my preface, I said to everyone, ‘Buy now’, as if cut in half in May, and we know that when interest rates drop, prices go up.”

The broker added that home sellers with single floor plans are particularly suitable for sale.

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