Real Estate

Bayswater auction: three-bedroom unit sells $110,000 beyond reserve

4 9 Ash Grove Bayswater
Written by The ReReport
As seen in the Source link, written by on 2019-07-01 14:30:24

An auction shootout between first-home buyers and downsizers saw a three-bedroom unit in Bayswater sail $110,000 above reserve.

Seven bidders turned up at 4/9 Ash Grove on June 29, after 124 groups had inspected the home, creating a “perfect storm” for a sale, Ray White Blackburn director Peter Schenck said.

“Buyers had attended the property in droves and the bidders had a shootout and it sold for well over the $610,000 reserve,” he said.

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Downsizers won the keys to the Ash Grove home.

4 9 Ash Grove Bayswater

The spacious kitchen and dining area.

The auction started at $500,000 and was a keen contest among the seven suitors for 15 minutes before it reached its $720,000 sale price.

Mr Schenck noted that the market in the outer eastern suburbs, stretching from Box Hill to Bayswater, was performing strongly.

“The recovery in the market is being led by first-home buyers,” Mr Schenck said.

Bayswater is popular among first-home buyers because of its entry-level prices, with the median price for three-bedroom units $637,750 as of May 28, according to

4 9 Ash Grove Bayswater

Room to enjoy a barbecue under cover.

The 340sq m Ash Grove property had a $590,000-$649,000 price guide during the campaign.

A couple downsizing from Croydon outbid first-home seekers and downsizers for the keys. In 2010, the vendors paid $500,000 for the property which was their first home.

“The vendors have two young children now and are looking for a larger home in Vermont,” Mr Schenck said.

The Ash Grove home is part of a group of well-maintained units and has a versatile floorplan with a spacious living area, dining zone and a well-presented kitchen. A courtyard with a large covered deck and lush lawn added to its appeal.

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