Pie’s game goes on
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