Real Estate

Unit with views sells for $1.07m

Written by The ReReport

On one of the last auction days of the year, a three-bedroom apartment in Chiswick with views of the river has sold under the hammer for $1.07 million.

The unit at 14/7 Bortfield Drive had 20 groups through the inspections throughout the four week campaign and was sold by Elaine Bowcher of Devine Real Estate.

On the day there were three registered bidders with just two participating.

Bidding started at $900,000 and increased up to $950,000, $975,000 and $990,000. A few smaller bids and then a strong $50,000 bid nearly sealed the deal for the underbidder, but a final knockout bid of $10,000 won the day.

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The successful buyer, who had already sold their previous property and was renting in the area, plans to live in the unit with their two sons.

There were 15 people who attended the auction which was held in the unit, which overlooks the complex grounds.

A similar unit sold two months ago in the same building for $1.185 million but that one had expansive river views, Ms Bowcher said.

The unit sold just two years ago, per CoreLogic data, for $1.2 million, but in vastly different market conditions.


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