Real Estate

melbourne auctions big results in glen iris kew and preston

Written by The ReReport

11 Clyde St, Glen Iris sold for $2.6 million against a reserve of about $2.2 million.

A Glen Iris house broke through the Melbourne auction market doom and gloom to smash its reserve by $400,000 on the weekend.
Six bidders pushed the 1983 residence at 11 Clyde St to a $2.6 million sale price on Saturday, as Melbourne’s clearance rate came in below 50 per cent for the sixth consecutive week.
CoreLogic returned a preliminary 44 per cent result from 1137 auctions to edge the market closer to spring 2011’s low of seven straight weeks of sub-50 per cent.


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The Glen Iris house attracted six bidders.

It vendor had held it as an investment.

Jellis Craig agent Ian McLennan said the runaway Glen Iris result bucked the negative trend to prove there was still strength in the city’s auction sector.
The single-level, four-bedroom house had been held as an investment since its last sale 14 years ago, which CoreLogic records show was worth $907,000.
Mr McLennan said the owner “didn’t hold back, in terms of spending some money” to bring the pad up to scratch before its sale. This involved repainting parts of the property, tidying up the garden and refurnishing it.
“It’s a great lesson — you’ve got to make your property as attractive as it possibly can be,” he said.
“The market’s challenging. But from the outset, (this house) was popular.”

The owner gave it a substantial spruce-up before selling.

The property offered four bedrooms.

The home’s “out of the ordinary” modern style and closeness to Central Park, public transport and top schools Sacre Coeur, Korowa Anglican Girls’ School and Caulfield Grammar attracted largely young families.

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Seven bidders wanted 1/1295 Burke Rd, Kew.

Inside the 1970s Kew townhouse.

In Kew, a 1970s townhouse scored seven bidders and an $810,000 sale price.
Kay & Burton auctioneer Steven Rode said the three-bedroom pad at 1/1295 Burke Rd was announced on the market at $740,000 but just kept going up, as a crowd of about 150 watched on.
Its “rare” price point for Kew, scope for improvement and blue-chip position drew a mixed bag of first-home buyers, investors and downsizers. But Mr Rode said parents with kids at a nearby private school won the keys.
“If you’ve got something a bit unique, it still attracts a lot of attention,” he said.

6/25 Windsor Place, Melbourne smashed its reserve.

The apartment is at the CBD’s desirable “Paris end”.

Six bidders also battled for a three-bedroom CBD apartment, pushing it $265,000 past reserve to $1.515 million.
Hocking Stuart Melbourne managing director Scott McElroy said the Mornington Peninula-based buyer snapped up 6/25 Windsor Place as a city base.
Its large floorplan of more than 130sq m and desirable position at the CBD’s “Paris end”, and in a building dominated by owner-occupiers, the main drawcards.
“We knew it was going to go well. But I didn’t expect it to keep going as high as it did.”

19 Murphy Grove, Preston tripled in value since its last sale in 2006.

The Preston property fetched $1,105,500.

Meanwhile, Advantage Property Consulting director Frank Valentic reported a three-bedroom Edwardian at 19 Murphy Rd, Preston soared $95,000 past reserve to $1,105,500.
He said a couple in its 40s beat a first-home buyer pair to win the 627sq m property, which had remarkably tripled in price since its last sale worth $357,000 in 2006.
The auction of a three-bedroom brick veneer Thornbury house that had been in the one family for 50 years wasn’t quite as hot.
Mr Valentic said 302 Gillies St passed in at $1.465 million and later sold for $1.53 million.
The 809sq m property “would have sold for $100,000 more a year ago”, he said.

302 Gillies St, Thornbury sold after auction.

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