Labour of love reaps reward for Epping seller
First-home buyers make inroads into Mill Park and South Morang
A son who fulfilled his promise to his mother to renovate their family home has sold the property to a buyer who saw it for the first time at auction.
The three-bedroom house at 53 Calendula Circuit, Epping (pictured above), sold under the hammer on September 23 for $792,500, well above the seller’s expectations.
The beautifully renovated home was the product of a labour of love, according to Barry Plant North Eastern director Ashlee Jade.
“The owners’ son worked on the house for more than a year,” Ms Jade said.
“Plenty of blood, sweat and tears went into the renovation, because he had promised his mum that he would transform it to what it is today, and he finished it after she passed away.”
The sale was an emotional one for the son, and an equally emotive one for the buyer who saw the property for the first time on auction day and fell in love with it.
“He fiercely competed with three other bidders from start to finish,” Ms Jade said.
“He had missed out on another property earlier in the week and was determined to secure this one, even without his wife seeing it first.”
At another auction on the same day, a son helped his parents buy a three-bedroom house at 8 Denham Place, Mill Park (pictured below).
“He helped his parents to bid for the home,” Ms Jade said.
“They were downsizing and wanted a low-maintenance property in a good location.”
After a four-bidder contest, the property sold to the couple for $661,000, more than $50,000 above the reserve.
The market in Mill Park and South Morang is currently dominated by first-home buyers, according to Ms Jade.
“There are many out and about now as interest rates have been on hold for the past three months,” she said.
“They have gained confidence in these affordable suburbs that offer a diverse range of properties and amenities.”
First-home buyers are eyeing 21 Kingfisher Place, South Morang (pictured below), up for auction on October 14 with $645,000- $695,000 price hopes.
This is a great opportunity for investors, first-home buyers and those seeking to upgrade to their second home, Ms Jade said.
The property is in a desirable location within walking distance of Morang South Primary School, Gorge Road shops, parks, Westfield Plenty Valley shopping centre and train station.
In Epping, well-presented properties in good locations are being sold quickly at prices above expectations, according to Barry Plant Epping agent George Stathopoulos.
Near Greenbrook shops, schools and transport, and not far from train stations and shopping centres, the three-bedroom house at 15 Peppercorn Parade, sold two days before auction for $650,000.
“One of four parties, young first-home buyers from the eastern suburbs, secured the home,” Mr Stathopoulos said.
“They were attracted to the property’s affordability, location and potential.”
And at 5 Hammond Drive, a three-bedroom house sold at auction for $685,000, after an impressive marketing campaign attracted strong interest.
Six bidders competed for the home that was snapped up by a first-home buyer from Reservoir, Mr Stathopoulos said.