A house with good val­ues

Herald Sun - Property - - Real World -

PROP­ERTY in­dus­try stal­wart Milton Cations has put his North Bal­wyn house on the block, de­spite the tur­bu­lent mar­ket.

The vet­eran val­uer, a for­mer pres­i­dent of the Aus­tralian Prop­erty In­sti­tute, is down­siz­ing and is in the mar­ket for a rental place in the in­ner city.

‘‘We’re looking for some­thing strate­gi­cally lo­cated be­tween my of­fice in the city and the Green Acres golf course (in East Kew), where my wife plays golf.

‘‘We don’t re­ally have to sell, but my son’s mov­ing to Syd­ney and my daugh­ter’s about six months away from mov­ing out.’’

He says he de­cided to put the prop­erty on the mar­ket months ago.

‘‘We hoped ev­ery­thing might have set­tled down by Novem­ber, but it hasn’t, re­ally.

‘‘Th­ese days you don’t even know if you’ll get a bid.’’

The Tormey St house has three dou­ble bed­rooms, two bath­rooms, a large rear deck, home the­atre or fam­ily room, a study or home of­fice and sep­a­rate rum­pus room.

Fea­tures in­clude pol­ished floors, ducted heat­ing and cool­ing and a land­scaped gar­den.

Agent Mike Nolan of Noel Jones ex­pects $1 mil­lion to $1.1 mil­lion un­der the ham­mer at mid­day to­day — and no, that’s not Cations’ val­u­a­tion.

‘‘I don’t do a lot of work in res­i­den­tial,’’ Cations says.

‘‘But I own a house, so I am an ex­pert.’’

Bal­wyn beauty: Milton Cations’ Tormey St prop­erty.

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