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Family ties lure downsizers to Thomastown

Real estate & property news
04 October 2023
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Smart virtual staging reaps rewards for seller

A pair of downsizers wanting to live closer to family has beaten off four bidders to win the keys to a treasured Thomastown home.

The Richmond couple was one of five bidders who battled for the three-bedroom house on 756sq m at 5 Belah Street, on September 23.

After less than 10 minutes, the modest 1970s house sold under the hammer for $850,000, a whopping $100,000 above the top end of the price range, according to Barry Plant Thomastown agent Christine Constantinou.

The buyers had inspected the property only once before the auction and competed fiercely for it, defeating the underbidder from Mill Park, who was a developer.

“They were unsure at first, but had a change of heart towards the end,” Ms Constantinou said.

The property drew strong interest, with 36 groups at the inspections who were mainly homebuyers who were attracted to its location near the train station, Ms Constantinou said.

“Many of them were families wanting to live in the Thomastown East school zone,” she said.

“This is one of the top five primary schools in Victoria.”

The buyers were also enamoured with the property’s Mediterranean-style and character created by water features and a shrine made by the owner.

“They loved the ornamental well in the backyard, and the fountain and statue of Mother Mary at the front,” Ms Constantinou said.

Home to the same family for more than 50 years, the property was placed on the market by three brothers whose parents had moved into aged care.

“It was a very emotional sale for the family,” Ms Constantinou said.

“But they were relieved that their home did not sell to a developer, but to homebuyers who would treasure their father’s garden creations.”

Downsizers from Reservoir who also wanted to live closer to family snapped up a three-bedroom house at 81 Carrington Boulevard.

The property had been on the market for less than 14 days before it sold for $705,000.

“’The buyers were over the moon and quite emotional,” Ms Constantinou said.

“They were so happy because their children and grandchildren lived in the same street.”

The 1980s house in original condition attracted 11 groups at the first open and multiple offers from mainly first-home buyers.

“They were impressed with the spacious living areas and bedrooms,” Ms Constantinou said.

“It also has good bones and was presented well.”

As the renovator’s delight was empty without furniture, it was virtually staged to improve its presentation.

“For just $255, three areas in the house were virtually furnished,” Ms Constantinou said.

“The photos looked fantastic.”

The spring market is buoyant in Thomastown and Lalor, with listings gradually increasing to meet buyer demand, according to Ms Constantinou.

First-home buyers are eyeing the three-bedroom house at 12 Louise Street, Lalor, which is up for auction on October 21 with $580,000-$620,000 price hopes.

“This brick-veneer gem is bursting with charm and is a perfect starter in the heart of Lalor,” Ms Constantinou said.

Real estate & property news
04 October 2023
Save Article

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