Grovedale house valued $260,000 in 3 years after hot auction

Just three years later, wild bids from four promising buyers pushed the value of the Grovedale home by $260,000.

Four-bedroom house at 724 square meters 24 Carstairs closed It was sold at an auction on Saturday for $860,000, a result that underscores the extraordinary growth of the real estate market in 2021.

Buxton’s agent, Tony Mulfort, believes that there were as many as 10 potential bidders in the crowd before the auction.

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But because the competition for brick veneer houses is so fierce, it is obvious that many houses have been blown out of the water because the houses were sold for more than $160,000 in excess of the reserve price.

24 Carstairs Close in Grovedale sold for $860,000.

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24 Carstairs Close in Grovedale sold for $860,000.

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Mr. Moorfoot listed the property, hoping that the price would range from US$670,000 to US$700,000.

But he confirmed that after the second bid of $700,000, it went on the market.

The auctioneer had little chance to breathe because the buyer quickly raised the bet from the opening price of $670,000 to $800,000, and then the bidders were cut to only two.

CoreLogic records show that this is the result of the most expensive home sold in Grovedale, east of the Surf Coast Highway.

Buxton auctioneer Tony Moorfoot auctions at Carstairs Close in Grovedale.

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Mr. Moorfoot is waiting for a call from the bidder.

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The buyer will use the property as an investment.

He said the attraction is that it is close to IGA, schools and Marshall Railway Station.

Mr. Moorfoot said that the auction shows the market trend in 2021.

“We sold it three years ago when the price was high,” he said.

The result exceeds the capital growth measured by realestate.com.au in Grovedale.

Data shows that the median house price in Grovedale has risen by 23.9% in three years, reaching $570,000.

Buyers are looking for investment properties.

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Witnessed the auction part of a large group of people.

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Saturday’s auction consolidated a 38.5% increase in value over the same period.

“Especially Grovedale is one of the hot spots. If you look at the crowd today, you will find that there is a lot of interest,” Mr. Moorfoot said.

He said the property is a great family haven, with four bedrooms and three living areas.

“It’s a short drive from the coast and a short drive to the Central Business District. Now the new estate does not have such a large plot, so when you consider reselling, it’s always a good opportunity to have your own The value of the land is always great.”