Real Estate

1960s Bundoora pad’s original condition helps big auction sale

12 Abelia Court, Bundoora - for herald sun real estate (1)
Written by The ReReport
As seen in the Source link, written by on 2019-06-29 21:28:13

12 Abelia Court, Bundoora, sold for $41,000 more than its reserve.

A Bundoora house that’s barely changed since it was built more than 50 years ago has sold $41,000 past reserve.

And the near original condition of the one-owner home at 12 Abelia Court, Bundoora, worked in its favour, according to Ray White Bundoora auctioneer Andrew Mizzi.

“It’s an honest home that has never been renovated,” Mr Mizzi said.

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This had helped buyers see the quality of the three-bedroom home’s original construction — dating back to 1968. The quiet court location was also a pro.

12 Abelia Court, Bundoora - for herald sun real estate (1)

The home is in almost exactly the same condition it was built in late in the 1960s.

A $540,000 bid at the bottom of the advertised price range got things started. Four bids later, it reached the $580,000 reserve.

Six bidders had joined in by the time the home sold for $621,000 — a reflection of the impact an interest rate cut earlier in the month was already having, Mr Mizzi said.

The first bidder, Matt Robertson and his partner Sarah Pioch, eventually won the keys to their first home.

12 Abelia Court, Bundoora - for herald sun real estate (1)

The kitchen is the only updated part of the home, getting a facelift about 20 years ago.

“This was the first one we have bid at, and we started looking about three months ago,” Mr Robertson said.

“I was a little nervous. We saw the auction for a place around the corner last week and that ran away really quickly when people were jumping in at the end. So I was worried the other bidders would push us out.”

Despite this, he hadn’t feared missing out.

“My gut feeling is (the market) won’t increase rapidly, I think it will be a more general upturn,” Mr Robertson said.

12 Abelia Court, Bundoora - for herald sun real estate (1)

The buyers have no immediate plans to update the home’s interior.

Robert and Lisa Dean were selling the home on behalf of Robert’s mother, Irene, and said the result had been better than they were expecting.

“We are absolutely happy with that, and very relieved,” Ms Dean said.

“The market has had a lot of talk about being in a downward spiral and we were wary of what that would mean for us on the day.”

The sale would help fund their mother’s move to a retirement home.

“So it was about getting a strong result for her,” Mr Dean said.

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