What’s been happening in Fitzroy North?

One very special brief we’ve been working on since late last year finally resulted in a sale this Super Saturday weekend. In a sea of some 1720 scheduled auctions, our dear clients had become accustomed to some disappointments along the way and didn’t anticipate that yesterday would be their day in the sun.

The house caught their attention, and despite our doubts about it sitting within our budget, we geared up for the auction at Woodside St Fitzroy North. This enchanting little patch, just 4km north east of the city has been luring cashed up buyers for over a decade now. What was once an inner-ring, grungy suburb has become a stand out patch well known for its beautiful terraces, cool cafes and incredibly rich history.

We’ve learnt since December just how highly prized these Victorian terraces have become because we’ve had some disappointment along the way as under-bidders on one in particular and a general feeling of limited stock and dwindling options. From the month of February 2016, median house price growth in the suburb has been measured at 9.54% for the previous twelve months. We knew this all too well; and felt that keen competition for terraces in particular could have driven an even higher rate of growth for this particular property type.

But as we said to our clients, “you have to be in it to win it.”

And that we did. Familiar faces in the crowd had my mind humming. Where had I seen that couple? And what price had they bid to last time? How could I bid strategically and give the impression I had an endless budget?

I bid strongly, succinctly and very deliberately in ten thousand dollar increments. As their bids began to slow, I maintained my pace, my increments and my deliberation. At my very last breath, with not a dollar to go, I stood like a statue, staring them down and hoping they were exhausted.

The auctioneer called it three times.

He called it another three times.

I remained calm. Perhaps they were out? The auctioneer asked them if they would like to try a reduced increment. The stone face and sharp expression of defiance flashed across the buyer’s face, but his slight slump of shoulders caught my eye. He was out.

The auctioneer called it another three times.

“Going….. GOING….. GOING……. SOLD!!

My buyers stood in the crowd looking on in confusion and disbelief. From the opening of the auction to the hammer falling, only a minute or so had transpired. The battle between the buyer and the under-bidder was incredibly rapid and they hadn’t quite understood that the final bid was mine. I had to step into the crowd to guide them inside, and only at that point they realised it really was their new home.

Securing this gorgeous three bedroom, north facing backyard terrace in arguably one of the prettiest streets was more than just winning at auction. Securing this piece of history for them was one of my happiest victories in a long time.

Even with the rain threatening and the clouds looming, yesterday was indeed their day in the sun.

Wishing them years and years of enjoyment and happy days in postcode 3068.