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Ray White Cheltenham director and auctioneer Kevin Chokshi takes bids for the Beaumaris home.
A heated auction in Melbourne’s Bayside has delivered a pre-Christmas ‘miracle’ smashing its reserve by almost $200,000.
The three-bedroom, two-bathroom home at 427 Balcombe Rd, Beaumaris saw four bidders push the sale price to $1.894m —$194,000 over reserve.
It was a surprise to many, after slow interest early in the campaign saw price expectations reduced to $1.6m-$1.7m.
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The auction opened with a bid of $1.5m, quickly climbing to $1.7m when the home was called on the market.
A final flurry of bids saw the price soar to nearly $1.9m in front of a packed crowd of buyers and curious neighbours.
The home sold under the hammer by Ray White Cheltenham director and auctioneer Kevin Chokshi and sales consultant Elise Russell.
The successful bidders fell in love with the property on first inspection.
The expansive kitchen includes high-pitched ceilings and seamless flow to the living area.
The Ray White Cheltenham director and auctioneer Kevin Chokshi said the home was everything buyers loved about Beaumaris: a spacious block, mid-century charm, close to the beach and schools.
“The buyers, a young local family, fell in love during the first week of inspections,” Mr Chokshi said.
“They knew it was perfect for them – the sellers, who had called the property home for 30 years, were thrilled with the result.
The sparkling swimming pool and spa.
“They’re planning to downsize now, and this result was beyond their expectations; they were overjoyed — almost in tears, it was a Christmas miracle.”
The property, was described as offering “the ultimate indoor-outdoor lifestyle,” on realestate.com.au and featured a study nook, a master suite with private ensuite and built-in robes, and an expansive open-plan kitchen and living zone with high-pitched ceilings, skylights, and timeless slate tiles.
The home also included an outdoor entertainer’s paradise, complete with a swimming pool with landscaped greenery.
The spacious open-plan living area with high-pitched ceilings and skylights.
The home’s main bathroom.
Mr Chokshi said despite this coming week being the last of auctions for 2024, the market wasn’t winding down just yet with buyers hoping to secure property before Christmas.
Embracing the season, Mr Chokshi dressed up in a red suit at the Balcombe Rd auction and played Christmas carols to energise the crowd.
“This time of year, buying a home feels like the ultimate Christmas gift,” he said.
The outdoor entertaining area complete with a landscaped pool area.
The charming facade of the Beaumaris mid-century home that sparked fierce bidding at auction.
“Beaumaris is a magnet for local buyers, with 70 per cent of prospective buyers often locals from surrounding suburbs.
“It’s the unique appeal of the area — close to the water, top schools, and that mid-century charm.”
Of the four active bidders, three were Beaumaris locals.
For homeowners looking to downsize, Mr Chokshi said a well maintained home in a good location will always attract interest.
According to Ray White Cheltenham director and auctioneer Kevin Chokshi mid-century architecture was a key drawcard for Beaumaris buyers.
The sellers, long-time Beaumaris residents were thrilled with the unexpected auction result.
“Families are now thinking long-term — the interest rates are temporary, but a home and its location are forever,” he said.
“As for the market at the moment, momentum is strong, this year.
I have auctions scheduled right up to 21 December, and the new year looks just as busy – buyers are still hungry.”
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