At a recent Harcourts auction, 19 registered bidders placed 95 bids across three Frankton homes.
The process saw properties in McBride St, Remarkables Cres and Juniper Pl sell, respectively, for $1,693,000, $1,700,500 and $1,550,000.
The under-bidder on the Remarkables Cres house subsequently put an acceptable pre-auction offer of $1,682,000 on another property in the same street after it was only on the market for a few days.
"Everything we’ve been selling has been far above capital valuation and well and truly exceeded all the owners’ expectations," agent Amelia Cross says.
Her colleague Megan Osborne says "it’s the new generation who are wanting to buy there, the ones who are wanting to be in the area where every amenity and facility is around them and they don’t have to be in the traffic".
"The lower interest rates are certainly adding some fuel to the market as well," branch manager Priscilla Uhrle says.
Osborne also notes some of the settlements are longer than usual, allowing vendors time to consider their next move.
