Real Estate

original Art Deco house surpasses $1 million

Written by The ReReport
As seen in the Source link, written by on 2019-11-03 11:54:56

An Art Deco house needing “a lot of work” has attracted five bidders to notch its first sale in 80 years.

The “very original” Northcote home soared past its $960,000-$1.05 million quoted range to reach $1.18 million under the hammer, Spencer Woods director Ken Woods said.

The owner had lived in the two-bedroom residence at 32 Park St since the World War II period.

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Mr Woods said about 60 people inspected the blank canvas during its auction campaign, generating a mixed reaction.

“A lot of people walk in and can’t imagine what they’d do with it,” he said.

“But some people walk in and can picture it.”

He said the home had attracted a mix of first-home buyers and retirees keen on its position in the Northcote High School zone, and a short stroll to the High St shopping and cafe strip, plus train and tram links.

The 333sq m property also offered period features including stained-glass windows, a large backyard, and rear access into a garage.

Mr Wood said “market forces on the day dictated the price” — in particular the limited supply of available housing,

“(The number of) properties on the market are down 40 per cent on this time last year,” he said.

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