Pie’s game goes on

Sunday Herald Sun - - Real Estate -

A BUYER is yet to swoop on Mag­pies mid­fielder Levi Green­wood’s South Mel­bourne home.

The sin­gle-fronted ter­race, which Green­wood stylishly ren­o­vated to fea­ture a black and white fit-out, passed in at auc­tion yes­ter­day at $1.125 mil­lion.

While the 40-odd crowd fea­tured four par­ties who had d ex­pressed in­ter­est in 97 Bank k St, only one put their hand up.

For­mer Rich­mond and Essendon player Ty Zan­tuck was also among the on­look­ers.

The sole bid­der raised their of­fer in a post-auc­tion ne­go­ti­a­tion, but fell short of the 2018 Grand Fi­nal­ist’s $1.275 mil­lion ask­ing price.

The pad re­mains for sale at that fig­ure.

Mar­shall White auc­tion­eer Matthew Pil­lios ex­pected a deal to be done sooner rather than later

More and more buy­ers were “hang­ing back” at auc­tion, hop­ing to take ad­van­tage of cool­ing mar­ket con­di­tions and snare a bar­gain, he said: “We’re gen­er­ally con­fi­dent of se­cur­ing a sale in seven to 10 days.”

Elite Buyer Agents di­rec­tor David Easter­brook said buyer strat­egy had “com­pletely changed” in Mel­bourne.

“They’re not pay­ing stupid prices any­more. And they’ll wait, wait, wait,” he said.

Green­wood pre­vi­ously told the Sun­day Her­ald Sun the house had been in bad shape when he snapped it up in late2016, when CoreLogic records show it fetched $920,000.

“I put a golf lf b ball ll on the h ground and it would roll from one end of the house to the other,” the 29-year-old re­called.

“We ba­si­cally turned it into a skele­ton and built it up again.”

A key fo­cus of the reno was open­ing up the for­merly seg­mented pad. It now fea­tures a wow fac­tor open-plan liv­ing and kitchen area that seam­lessly flows out to a back­yard deck with a beach mu­ral.

Two bed­rooms, a bath­room and an up­stairs mul­ti­pur­pose room that could be an­other bed­room or liv­ing area, or be of­fered on Airbnb, com­plete the pack­age.

Green­wood, who started his ca­reer with North Mel­bourne, sold a North­cote Ed­war­dian house he also ren­o­vated for $1,307,500 in July last year. A YOUNG cou­ple will re­vive a rundown for­mer com­mis­sion house in Brunswick West af­ter se­cur­ing the “bar­gain” at a hot auc­tion.

The three-bed­room 1950s dump at 5 Yarra­bin St flew $51,000 past the top end of its quoted range to fetch $691,000 un­der the ham­mer.

Two bid­ders went hard for the 334sq m prop­erty, drawn by its price point, solid concrete build and po­si­tion on a quiet tree-lined street.

Buy­ers Tony and Grace, who didn’t pro­vide their sur­names, had the added bonus of buy­ing across the road from friends, one of whom Tony had lived next door to as a child.

“They told us when this house came up — we didn’t see it (in on­line searches) be­cause . it came un­der our price range,” he said.

“All the homes we were look­ing at were be­tween $750,000-$800,000.

“It’s prob­a­bly a bar­gain for us. We think we’ll put a lit­tle bit over $100,000 into it.”

Jel­lis Craig Brunswick auc­tion­eer Mitchell Boys said he hadn’t listed a house “in this price range in five to six years”.

He told the 50-strong auc­tion crowd the pad was built by the Min­istry of Hous­ing in the ’50s and had likely sat va­cant for some time.

“It has been rewired. It got a new kitchen in the ’80s, but it prob­a­bly needs an­other one,” he said.

“What you’re buy­ing here is po­ten­tial.” SAMAN­THA LANDY

Matthew Pil­lios auc­tions Colling­wood mid­fielder Levi Green­wood’s South Mel­bourne home. Main pic­ture: SARAH MATRAY

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