Jonathan ChancellorSeptember 25, 2016
Weekend bidding showed signs of the frenzy typically seen in the televised auctions of The Block.
At Bondi Beach - 13 years since the renovation series began and eight doors along - a dilapidated stripped-bare one-bedroom unit fetched a stellar $961,000.
The buyer was a family from nearby Dover Heights who will lease it out after they renovate the apartment with no car space.
"It went berserk," McGrath selling agent Simon Exleton told Fairfax Media.
The Sunday Telegraph reported there were more than 50 registered bidders.
The Bondi Beach one bedroom apartment was 60 sq m with sunroom.
The first floor unit last for $54,500 in 1986, reflecting just shy of 10 percent annual price growth.
A renovated offering in the block of 16 apartments sold for $770,000 a few months ago.
The price guide for 6/85 Roscoe Street - just one block from the iconic beach - was $660,000 with the auction opening with a $720,000 opening bid.
Even a Richmond cottage that failed to sell in its televised auction on The Block’s first Melbourne season fared well at weekend auction fetching $1.32 million.
The three bedroom 41 Cameron Street workers cottage renovated by sisters Katrina Chambers and Amie Godde last fetched $860,000 in 2011, a few days after the televised event.
RT Edgar Hawthorn had the house with a price guide of $1 million to $1.1 million.
With annualised price growth of 8.7 percent, it sold at $70,000 over reserve, one of the 1090 offerings across Melbourne, according to CoreLogic.
