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Price windfall for church as Box Hill North property soars above expectations

House gifted to Box Hill church sells strongly under the hammer

The first bid for a small block on a busy Box Hill North street hit the reserve in a strongly contested auction.

The 378sq m property at 2/831 Station Street eventually sold for $909,000 well above the seller’s expectations on March 13.

“There were five bidders, with the second bid rising $50,000 for the older-style property on a half block and in a busy location,” Barry Plant Blackburn agent Zen Chan said.

A deceased estate that had been willed to a local church, the property was contested by investors and first-home buyers, and an investor made the highest bid.

“The owner had no family and gave it to a church in her will,” Mr Chan said. “The sellers were surprised with the result and are over the moon.”

Buyer interest during the campaign was strong for the property with a result in the $800,000 range expected, he added.

On the market for the first time, the three-bedroom home attracted 80 groups to the inspections.

Mr Chan said Box Hill North has seen plenty of buyer activity in recent years because it is more affordable than nearby Box Hill and Doncaster.

“It is popular among young families moving out from more expensive areas nearby,” he added.

“Box Hill North is also the Whitehorse suburb with the highest turnover of properties, but stocks now are limited.”

Another strong result on the same day was 34 Caroline Drive, Templestowe Lower, which fetched $1.68 million.

In Glen Waverley, eight bidders pushed the price of 18 Pindari Street to $2.088 million, with a young family winning the keys.

The strong contest gave the sellers a result well above their expectations, Barry Plant Glen Waverley’s Julie Guiqian Wells said.

“There was good interest because of the rectangular block size, lucky number eight in the address and location close to shops,” she said.

“Prices in Glen Waverley have been rising each week and we are seeing more listings now.”

Meanwhile, 5 Verdant Court, Glen Waverley, attracted four bidders, including one who was bidding from China.

“The area is tightly held and the house is zoned to Mount View Primary and Highvale Secondary schools, and we had 123 groups at the inspections,” Carolyn Barton of Barry Plant Glen Waverley said.

The renovated property sold for $1.368 million to a couple who outbid another family.

“We see urgency among buyers looking to secure properties and while supply has been tight, there are more listings now,” Ms Barton said.

“There are still plenty of genuine buyers.”