Real Estate

Discounted Albert Park terrace a rare opportunity

Written by The ReReport
As seen in the Source link, written by on 2019-02-04 23:18:52

103 Ashworth St, Albert Park is for sale.

An Albert Park terrace just moments from the beach is testing the market less than a year after it last sold.

The three-bedroom Victorian at 103 Ashworth St is still for sale after it passed in on a vendor bid at auction on the first weekend of February.

It now has a reserve price of $1.58 million, well below its last sale price of $1.65 million in March 2018.

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The property has a reserve price of $1.58 million.

The terrace passed in at auction on a vendor bid.

Vendor Romayne Holmes said she had relisted the property after buying a dream home nearby.

“I think this place would suit a young couple, who could easily use the spiral staircase that leads to the main bedroom and bathroom,” Ms Holmes said.

“It’s a very peaceful home, and you can hear the birds singing at all times of the day.”

103 Ashworth St, Albert Park

The vendor purchased the property for $1.65 million in March 2018.

A spiral staircase leads to the first floor bedroom and ensuite.

Its beachside location and ample amount of natural light were other standout features, she added.

The double-storey home passed in on a vendor bid at an auction with more than 50 onlookers.

Wilson agent Grace Le-franke said more than 80 parties had inquired about the home during its campaign.

103 Ashworth St, Albert Park

More than 80 parties has inquired about the terrace during its campaign.

103 Ashworth St, Albert Park

The upstairs lift includes the main bedroom and a bathroom.

“We’re getting a lot of young couples showing interest,” Ms Le-franke said.

“It’s an entry-level price point for buyers in Albert Park … most houses in the suburb with three bedrooms and two bathrooms sell for over $2 million.”

The revised sale price was very reasonable for the area, which typically held its value well, she added.

9/52 Moubray St, Albert Park is the only property to sell in the suburb so far this year.

It sold for $435,000 in a private sale.

CoreLogic data shows the median house price in Albert Park dropped 6.3 per cent to $1.93 million in the 12 months to October 2018.

Despite the decrease, the suburb fared better than St Kilda, where the median price fell 26.8 per cent to $1,034,500.

Saturday’s auction was the first for Albert Park in 2019. CoreLogic shows only one property, a unit at 9/52 Moubray St, has changed hands in the suburb since the start of the year.

2/33 Eildon Rd, St Kilda sold in the suburb’s first auction of the year.

It sold $55,000 above reserve for $495,000.

St Kilda’s first auction for the year recorded a strong result, with a one-bedroom apartment at 2/33 Eildon Rd selling $55,000 above reserve for $495,000.

McGrath St Kilda director Michael Townshend said first-home buyers were recognising it was a great time to break into the property market.


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