Three sold: Albury-Wodonga auction report for Saturday, March 4, 2023

A Glenroy house in Range Road and a Clarendon Avenue, Wodonga, home both sold on the day after being passed in while a three-bedroom Albury house in Randle Crescent was bought before its planned auction.

About 20 people watched at Glenroy as Stean Nicholls director and auctioneer Lachlan Hutchins described the five-bedroom home with a wine cellar and swimming pool.

"Be very flexible with your upper limit, these don't come along that often that tick every single box with the views, with the location," he said.

The property was passed in after a vendor bid at $900,000 and a phone bid of $910,000.

Mr Hutchins said the home was later sold to the phone bidder, who was moving to the area, for $975,000.

Despite fewer bids, he felt auctions remained a preferred selling method.

"It's always the best way to find out market value, there's always good buys around," he said.

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Mr Hutchins had noticed interest rate rises affecting the investment property market more than those buyers seeking a family home.

Sales professional Harley Maclachlan, of First National Bonnici and Associates, said the four-bedroom Wodonga property was passed in after a single bid of $1.205 million. After negotiations with the local bidder, it sold at $1.245 million.

About seven groups watched the auction, with about half a dozen online as well.

"I don't believe that the market is incredibly cooling off or that cliff that people are talking about is really coming, I think the market is going to hold and plateau to where it is," Mr Maclachlan said.

"As an agency we put on 40 new listings this month as well, so there certainly is stock there and we're still getting really good numbers at our open homes."

Agent George Bourdis, part of the @realty network, said the Randle Crescent house's price met expectations and had attracted multiple offers before the sale.

"The market is still going very strong," he said.

Kane Real Estate director Andrew Kane said 1225 Table Top Road, Table Top, was passed in at $1.3 million after a vendor bid and was now priced at $1.35 million.

"There's a little bit of hesitancy out there with interest rates and everything else and that top end of the market place, it has toughened up," he said.

Mr Kane said the rest of the market remained active and felt confident the Table Top property would find a buyer.

"It offers seven bedrooms, it offers 1.25 hectares and it's got weir views, swimming pool, it's a beautiful lifestyle property," he said.

"It will sell, it's a very good home and it's just a matter of time now."

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