A three-level house described as “a slice of Balwyn in Greensborough” has smashed the suburb’s record price in a weekend of booming auction action.
Barry Plant director David Moxon said the Balwyn-like address at 3 Viewgrand Way broke the suburb’s record price by $435,000 on Saturday.
The four-bedroom house with a home cinema, 6m-high ceiling in the formal entrance and a wrought-iron chandelier imported from Italy sold for $2.685m.
RELATED: Record April auction numbers: McCrae home earns $900k in two years
Greensborough’s previous record was $2.25m, set by 7 Toorak Court in 2020.
Mr Moxon said a buyer’s advocate and a Bundoora resident engaged in “very aggressive bidding from the get-go” starting with a $2.1m bid.
“The buyer’s advocate purchased the property on behalf of a middle-aged couple who live probably 500m away,” Mr Moxon said.
He said the couple who built the home and lived there since 2004 were moving to Dromana.
While the Real Estate Institute of Victoria expected 1696 homes to go under the hammer last week in the state’s biggest ever week for April auctions, realestate.com.au had 1560 auctions scheduled.
The latter’s figures show Victoria recorded an early clearance rate of 87 per cent from 833 auction results.
An Edwardian house at 186 Coppin St, Richmond, was another of the weekend’s top sales, making a healthy profit for the family who have owned it since 1984 when CoreLogic records show they paid $75,000.
Kay & Burton agent Zen Agnew said the house passed in on a $3.1m bid, but negotiations resulted in a $3.25m sale – a whopping 43 times the 1984 figure.
“The property was purchased by a young family, returning to Melbourne after spending some time living overseas,” Mr Agnew said.
Another impressive Saturday result was a house at 76 Hertford Rd, Sunshine which sold for $1.602m, a figure $402,000 over its $1.2m reserve.
Douglas Kay Real Estate director Peter Kay said the home had been in the same family for about 76 years.
Other big results included 59 Victor Rd, Bentleigh East selling $205,000 above its reserve for $2.305m to a Moorabbin family, Crown Property Group director Chris Papas said.
An Art Deco house at 23 Hillside Ave, Northcote with a $2.1m reserve, listed by Barry Plant agent Alexander Magliolo, sold for $2.25m to a local family.
Realestate.com.au has 1961 auctions scheduled in Victoria this week, which would make it the highest number ever held in seven days.
The REIV are also anticipating a record week, though have projected 2120 auctions.
Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox