School zones key to price
BIG blocks mean big bucks when it comes time to sell around Mt Waverley.
A big development site smashed the reserve by $230,000 as four homes in the suburb achieved million-dollar auction sales last weekend.
The 1004sq m property at 6 Bishop Court was marketed to home builders and developers, with eight bidders raising their hands at the auction, Jellis Craig, Mt Waverley, agent Con Lazogas said.
The home, which is set to be razed, was on the market at $1.25 million before it was sold for $1.48 million.
Mr Lazogas said buyers were eyeing the site, in the Mt Waverley Secondary College zone, for either a development or single dwelling.
“For good properties, that are well-located, the market is very strong,” Mr Lazogas said.
“On some properties that are less sought-after, the market has softened a little bit (since last year.
“But for good, well-located properties the market appears to be just as strong.”
Strong prices were also achieved in Glen Waverley, where 41 Arlington Drive was the top-seller at $1.406 million.
Harcourts Judd White agent Julie Karl said six bidders vied for the home, with the winning family seeking the address to get into the prized Glen Waverley Secondary College zone.
But Ms Karl said the vendor’s efforts helped achieve the sale.
“The vendor took every step to present it well. It made a lot of difference,” Ms Karl said.
A $1 million price tag had vendors ecstatic at 38 Croxteth Way, Wantirna.
The 16-year-old unrenovated four-bedroom house sold for $110,000 above the reserve last Sunday.
Harcourts, Wantirna, director Archie Mantsos said eight bidders entered the auction fray in front of a massive crowd.
Mr Mantsos said 175 groups inspected the property during the campaign, attracted by the neighbourhood’s five schools.
Its proximity to EastLink and Wantirna Mall were also significant drawcards.
And the Peninsula Link is being heralded as a spark to the property market around Rosebud.
Hocking Stuart, Rosebud, director Adam Alexander said sales had lifted about 40 per cent since the freeway opened in January, 2013.
Mr Alexander said investors and holiday makers remained the largest buying group.
“I’ve been in this market for 12 and a half years and I’ve never seen it as strong,” he said.
The agency auctioned three townhouses at 5 Cameron St, Rosebud, selling two and in negotiations on the third. Number 1/5 Cameron St sold for $490,000 and number 3 for $399,500.
This Wantirna house (above) sold $110,000 above the reserve, while 6 Bishop Court, Mt Waverley (inset) sold for $1.48 million.