Bank of Dad lands daughter a house in Doncaster East
There is a very fortunate new owner in a sought-after Melbourne suburb after a father gifted his daughter her own home and renovated turnkey homes are attracting premium prices as listings increase ahead of spring!
A businessman snapped up 3 Lyons Place, Doncaster East, for $1.7 million prior to auction on August 7. He had earlier bought a house for his son after selling a business.
“He must have had a very successful business to buy his children a house each,”
Barry Plant Manningham Director Scott George said.
The Lyons Place house offered a family friendly floorplan on a spacious 1031sq m block in a popular Doncaster East pocket.
“We had more than 20 inspections in two weeks and there was strong early interest,” Mr George said.
“The buyer asked his daughter to inspect the property, and when she walked through, she loved it and said it felt like home.”
Another interested party also put in an offer, both of which were above the vendor’s $1.58-$1.65 million price hopes.
Mr George also sold 12 Brook Drive, Doncaster East, under the hammer for a price above the $1.6-$1.7 million price guide.
There were four bidders competing for the fully renovated five-bedroom house on 858sq m, which is in a coveted location close to quality schools, shops, transport and the Eastern Freeway.
“The market is strong and in the past few weeks has grown stronger with as many as four to six bidders at some auctions,” Mr George said.
“Supply has also been rising, and we are seeing buyers keep up, buoyed by the hold on interest rates.”
Another hot contest in the same suburb saw 4 Nolan Close fetch a hefty premium. The six-bedroom house had five bidders who were attracted to the fully renovated home, Barry Plant Manningham agent Diana Dai said.
The property changed hands for $2.301 million, which was well above the seller’s reserve price of $2.18 million.
“The opening bid was already $1.8 million and another bid of $2 million scared off other buyers,” Ms Dai said.
“The house was popular as it can accommodate two families with its dual floorplan, and is in a popular school zone.”
A local family snapped up the property at the August 10 auction.
Ms Dai said renovated homes were fetching top prices and she sold an unrenovated family home in the area for $1.77 million.