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On Saturday, an Australian family returning home from the United States defeated five other bidders at an auction and obtained the key to 15 Thunder Street in Hawthorn.
As Melbourne’s auction market rose after the lockdown and long weekends were closed, an Edwardian magician in the 1920s had surpassed his reserve by more than $1 million.
A family of expatriates returning from the U.S. sold out 15 Rae St, Hawthorn, Saturday’s reserves of $5.55 million were about $1.25 million higher.
Marshall White agent Chris Barrett said that the early bid of $4.5 million will be auctioned ahead of June 26.
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The renewed Edward VII was coveted by his family for being close to the elite school.
A family bought it for $5.55 million.
The seller has owned the property for 20 years.
Six bidders competed for the fully renovated home, and 36 of them exceeded his and the supplier’s expectations.
The seller who sold to downsize has owned the property for 20 years.
According to realestate.com.au, the sale is the biggest result reported last week.
As the market rebounded from the two-week Covid-19 lockdown and the Queen’s birthday long weekend, a total of 926 homes in Victoria were auctioned-both of which reduced auction volumes.
Realestate.com.au initially recorded a clearance rate of 83% from 460 available results.
Marshall White agent Chris Barrett said there is strong demand for family homes in the area.
Mr. Barrett said that wealthy family buyers seek to go public because they are keen to send their children to nearby elite schools.
“There is a lot of pent-up demand… Buyers have full confidence in the market,” Mr. Barrett said.
“If you own a well-located family home on a decent piece of land, it will be highly sought after.”
An elderly buyer snapped up a property at 1/21-23 Alexandra Avenue in South Yarra for $750,000.
In South Yarra, a cash-rich buyer can snap up a neat but old Art Deco-style one-bedroom apartment for $750,000 without a mortgage.
Zed Nasheet of Zed Real Estate stated that the buyer paid the balance in advance to ensure 1/21-23 Alexandra Avenue In private sales.
Mr. Nasheet said that he initially valued the apartment at $580,000-$620,000 and then listed it for sale a week before the most recent blockade in Melbourne.
Agent Zed Nasheet said that his initial estimate of the apartment was between US$580,000 and US$620,000.
He said that considering that this was just a one-bedroom apartment, he was surprised that the seller paid so much money.
“For them, it’s more of a retirement thing, so it doesn’t matter how much they pay for it,” Mr. Nasheet said.
“Achieving $750,000 shocked the entire market. Will you buy a one-bedroom, one-bathroom (apartment) that has been over 50 years old?
“You can now buy a one-bedroom apartment in South Yarra for $340,000, which is the same as what I sold.”
On Sunday, a family defeated three other bidders to win 16 Caithness Crescent in Glen Waverley.
The outdated home is close to the school and Glen Waverley Golf Club.
Dexter Prack, director of Harcourts Judd White, said it can also see the view of the Dandenong Ranges.
In Glen Waverley, a four-bedroom cushion is located in 16 Caithness Crescent On Sunday, its sales exceeded the base price by $66,000, reaching $1.856 million.
The bid was $1.5 million, and four participants participated in the competition-two online and two live.
The property was listed for sale on the market at a price of US$1.79 million.
Dexter Prack, director of Harcourts Judd White, said family buyers were attracted by this old house.
The location of the property and the “majestic view” are the main attractions.
It sold a base price of $66,000 at a price of $1.856 million.
The location is the biggest attraction. The residence is located in the area of Mount View Elementary School and Brentwood Middle School, close to Glen Waverley Golf Course and Glenvale Tennis Club. It also offers views of the Dandenong Ranges.
“That street is a blue ribbon street with a beautiful view,” Mr. Puck said.
Realestate.com.au expects Victoria to hold 1,509 auctions this week because Auctions postponed due to the blockade are caught in a wave of sellers Hope to enter before the end of the stamp duty discount for purchases less than $1 million on June 30.
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