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Drawn-out Doncaster East auction ends with windfall for seller

Real estate & property news
18 June 2024
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Manningham buyers have appetite for updated properties

Two bidders slugged it out for almost an hour before a Doncaster East property that was in the same family for three decades sold for a huge premium.

The five-bedroom house on 958sq m at 9 Crestmont Court, Doncaster East, sold for $1,821,500 on the first Saturday of winter.

SOLD - 9 Crestmont Court, Doncaster East

“Both families who bid for the home wanted to get into the area,” Barry Plant Manningham partner Todd Lucas said.

“It is in an inner court location and was on the market for the first time in 30 years.”

While the property is not in the coveted East Doncaster Secondary zone, buyers are looking at the long term when buying into the suburb, he added.

The property had a reserve price of $1.65 million, and the sale gave the long-time owners a $171,500 premium.

Meanwhile, Barry Plant Manningham agent Harry Lai sold three properties from four auctions on the same day.

“All three properties that were sold under the hammer were updated or renovated,” he said.

“Buyers have an appetite for properties that they feel have value added.”

And a fully renovated property at 2/8 Lisbeth Avenue, Donvale, sold for $823,000 with five buyers making bids.

SOLD - 2, 8 Lisbeth Avenue, Donvale

The 1980s property, which offers light-filled luxury with modern features, drew interest mainly from first-home buyers and downsizers.

“The two-bedroom unit was sought after and the auction saw bidding rise quickly past the $750,000 reserve price.” Mr Lai said.

The new owners had sold up recently and were looking to downsize to the unit set in a lifestyle location.

And 1/11 Meryl St, Doncaster East, which had not been expected to sell well, fetched a result above its price guide.

SOLD- 1, 11 Meryl Street, Doncaster East

“The property is not in the popular school zone and has no gas connection but it attracted three bidders, and sold for $80,000 over the $1.4 million reserve price,” Mr Lai said.

The new owners were first-home buyers who had been looking for several months, while the underbidder was also a first-home buyer. Another buyer bid via an overseas telephone call.

The three-bedroom townhouse on 363sq m is architecturally designed with natural light, water and energy efficiency features.

And the auction of 9 Daina Court, Diamond Creek, ended with a successful sale to the winning bidder who saw the home for the first time.

SOLD- 9 Daina Court, Diamond Creek

“It was a good auction with three bidders and it sold under the hammer for a strong price,” Mr Lai said.

Real estate & property news
18 June 2024
Save Article

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