Dream home auction raises Ferntree Gully price record by $165K
Marketing and presentation, key factors to success
A family from Footscray will be moving across the city into a deluxe six-bedroom house in Ferntree Gully after a mega auction bid.
They fought off four other bidders to win the keys to 22 George Street for $1.867 million on May 28, as auction numbers swelled after the Federal elections the previous Saturday.
The keenly contested auction drove the result $287,000 above the seller’s reserve of $1.58 million, Barry Plant Boronia agent Mark Hughes said.
The sale broke the previous suburb record of $1.702 million set by a four-bedroom house at 5 Beech Close in 2021, according to sale records.
The George Street house of four years had a $1.4-$1.54 million price guide, and bidding opened at $1.4 million.
“There were 69 groups at inspections during the campaign for the attractive and well-built home on a large block of 1517sq m,” Mr Hughes said.
“The custom-built home is on a very quiet street and attracted one local and several buyers from out of the area.”
The strong result was also due to the seller taking advice on presentation and marketing.
“They showed off the house well and we invested in a strong online and social media marketing campaign, and they were very happy after the auction,” Mr Hughes added.
“It is important to trust a good agent to get the right price.”
The architect-designed home displays contemporary luxury and functionality and features a connection to its surroundings and an enviable location close to village shops.
The timber and brick house with an impressive street presence boasts spacious living areas and a designer kitchen, and is complemented by landscaped gardens.
In May, the median house price in Ferntree Gully was $895,500 based on 320 sales in the past 12 months, according to realestate.com.au. The median price increased 14.8 per cent over the period.
For the week ending May 29, Victoria had 1488 properties scheduled to go to auctions which was a record for the month in the state.
A preliminary clearance rate of 76 per cent was recorded from 682 results available, according to realestate.com.au.