Bidding buoyant on the waterfront
Published on 14/04/2013
The lure of a waterside location prompted buyers to reach into their wallets on Saturday.
Arguably the largest Californian bungalow in Alphington, on an iconic 11,540-square-metre block on the western bank of Darebin Creek, sold for $3 million, off a reserve of $2.85 million. Damien Carter of Miles Real Estate reported a crowd of 200 witnessed a local resident wrestle the creekside haven at 2 Rowe Street from two other bidders. The buyer intends to maintain the property ”for future generations”.
A beach box in Brighton was sold before its scheduled auction on Saturday by RT Edgar for an undisclosed figure, believed to be about $200,000. The little blue retreat at 55 Beach Box, Esplanade, near Dendy Street, was bought by local residents seeking shelter for their children on seaside outings.
Melbourne’s inner and middle-ring suburbs were also well represented on Saturday. At 48 Gordon Street, Fairfield, Antony Woodley, of Collins Simms, took bids from four parties for a three-bedroom period house five minutes’ walk to the Station Street shops. It sold for an undisclosed price, which sources say was $1.06 million.
Holding property long term can yield good results, as proven by the sale of a two-bedroom brick dwelling at 36 Blair Street, Brunswick, listed by Nelson Alexander. It was last sold 10 years ago – to the day – for $336,000. Sixty onlookers watched buyer’s advocate Melissa Opie win the keys for her clients for $657,000. Ms Opie said the price backed up the belief that properties double in value every seven to 10 years.
Buyer’s advocate Bruce Renowden reported that 20 Chestnut Street in Richmond was quoted at $600,000 to $660,000. But the timber, semi-detached residence was knocked down by Hocking Stuart for a lofty $779,000.
Fletchers director Tim Fletcher reported his agency sold 10 out of 12 properties on Saturday, eight of them above reserve.