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Berwick showstopper sells under the hammer

Real estate & property news
19 March 2021
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Demand and supply imbalance to deliver price boost to Berwick sellers

A Berwick masterpiece dubbed ‘King of the Hill’ has sold to a young couple about to tie the knot.

The exquisite property at 11-12 Tamara Close, with scenic views from every room, was finally put up for sale after years of waiting for a market boom. It was built in the early 1990's and has been beautifully revamped and extended over the years, with the vendors waiting for the right time to sell.

The four-bedroom showstopper fell under the hammer for an undisclosed amount. The home was listed with a $1.5-$1.65 million price guide.

The property last changed hands in 2005 for $460,000, according to CoreLogic records.

A $1.4 million opening bid set the tone for the auction, and rises as high as $50,000 were made by three persistent house hunters.

A young Templestowe couple, about to marry soon, scored the keys to the stunning tree-side abode, according to Barry Plant Berwick sales agent Gabriel Nigro.

“The young couple love the style of the home, the leafy green streets and see it as a great place to raise a family,” he said.

Positioned on the north side of Berwick, the home is just a short walk to Berwick Village and close to some of Victoria’s most prestigious schools.

Stunning views and location were the main draw cards to the family home, according to Mr Nigro.

“Every room offered scenic vistas right across to Port Phillip Bay,” he said.

“We had 36 groups inspect the property over four weeks and every single person was blown away by the incredible views.”

Houses within the region are “selling incredibly well” and within a one-to-two-week period, Mr Nigro added.

“There is a chronic shortage of quality properties and unprecedented demand for lifestyle homes,” he said.

“Demand is so high and lack of stock is driving prices up further and further.”

Mr Nigro said properties which sold in November last year could potentially be relisted and snapped up today for 10 per cent more.

The end of March will be an interesting time for real estate, Mr Nigro suggested, as government assistance subsides.

“We will see the real impact of how our economy has been affected,” Mr Nigro said.

“However, with interest rates staying this low, I can’t see the heat coming out of the market any time soon.”

Real estate & property news
19 March 2021
Save Article

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