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Eltham North’s “best listing” sets new price benchmark

Real estate & property news
24 February 2023
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Midweek auction delivers whopping windfall for owners of luxury home

A stylish tri-level home has smashed the price record in a Melbourne northeast suburb.

The home at 35 Highpoint Crescent, Eltham North on 1391sq m nabbed a $2.89 million result on February 22, raising the price record in Eltham North by more than $420,000. The previous record was for 63 Banks Road which fetched $2,468,888 in 2021. The four-bedroom property is on a 2865sq m block.

“It set a new price record by a long way,” Barry Plant Eltham director Jason Stepanow said.

“It was the best listing in the area and attracted many buyers with its style, quality and location.”

It was initially set for private sale but with strong interest, it was converted to a midweek twilight auction, he added.

The stunning contemporary home with five bedrooms and four bathrooms drew 120 groups at its inspections and four bidders at the auction.

In images 1/435 Highpoint Crescent, Eltham North

The hour-long auction, which Mr Stepanow described as “competitive but slow and consistent”, opened with a $2.3 million bid.

With a $2.4-$2.6 million price guide and a seller’s reserve of $2.6 million, the property was sold to a family from nearer the city.

The result gave the sellers a bonus of $290,000 beyond the reserve.

“The outcome showed there are still buyers even at this price point in Eltham North,” Mr Stepanow said.

The bespoke, state-of-the-art house offers a luxury lifestyle in a sought-after pocket in Eltham North. It features a modern and spacious design with an open-plan kitchen and dining zone and indoor-outdoor entertaining options.

The showpiece kitchen is complemented by a magnificent poolside alfresco area with a built-in barbecue and bar fridge, plus a first-floor rooftop terrace. The basement boasts a home theatre and a cellar.

Included are a workshop or gym, a backyard with play equipment and a four-car garage with drive-through access.

Mr Stepanow also recently sold a home at 44 Nerreman Gateway, Eltham, for $1.55 million.

With a median house price of $1,242,500, Eltham North is a tightly-held suburb with just 14 houses available for sale in the past month. A total of 68 houses were sold in Eltham North over a 12-month period. There are 1900 buyers interested in the suburb, according to data.

Real estate & property news
24 February 2023
Save Article

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