Chat with us, powered by LiveChat

Mornington and Monash: Auction and pre-auction sales reap mega prices

Real estate & property news
19 September 2023
Save Article

Coastal and eastern suburb homes attract multiple bidders and offers

A long-held Mornington Peninsula holiday house has rewarded three siblings with an auction windfall.

The 8 Turnbull Street, Mornington property, just minutes from the beach and cafes, attracted 11 interested buyers, with six making bids at the September 16 auction.

The four-bedroom house (pictured below) fetched $1.542 million, which was nearly $350,000 above the reserve price, Barry Plant Rosebud Auctioneer Paul Cunnington said.

A family from the eastern suburb of Balwyn edged out homebuyers and developers to win the keys to the property, which will remain a holiday house.

“This would be our strongest auction result this year and shows the market is robust,” Mr Cunnington said.

“The first bid was at the reserve price of $1.2 million and most of the developers dropped out at $1.3-$1.4 million, and two buyers went head-to-head at the end.”

On the same day in Glen Waverley, a house built four decades ago (pictured below) attracted four bidders who drove the price past the reserve by more than $200,000.

The auction at the 57 Shepherd Road property started slowly but the contest escalated when it was called on the market at $1.9 million.

Two homebuyers pushed the price to $2.101 million, which made the sellers “extremely happy”, Barry Plant Glen Waverley auctioneer Tony Ievoli said.

A local family snapped up the five-bedroom house, which was popular with buyers because of its location in the Glen Waverley Secondary and Mount View Primary catchment.

“The sellers would have been pleased with a price close to $2 million,” Mr Ievoli said.

“And this shows quality properties are selling well.”

Meanwhile, a Burwood property that sold prior to its scheduled September 16 auction (pictured below) has set a new price record in the Montpellier Gardens Estate.

The 20 Bentham Court house changed hands for $1.71 million, which was well above the top of the price guide of $1.58 million, Barry Plant Glen Waverley agent Jason Chow said.

The estate is tightly held and sought after because of its proximity to private schools, Deakin University and Chadstone shopping centre.

More than 80 groups inspected the house and it drew six offers. A couple from Sydney, who had not inspected the house, snapped up the property.

“They were relocating to be close to family,” Mr Chow said.

“The sellers were hoping for $1.6 million and were happy to accept the offer prior to auction.”

The previous record price in the estate was $1.699 million.

Real estate & property news
19 September 2023
Save Article

Get more from Barry Plant.
Sign up for our newsletter

Sign up now to stay informed about market trends, investment opportunities, and exclusive property listings. Don't miss out on valuable insights - join our community today!