Family ties leads Scoresby buyers to snap up long-held home
Six siblings had their wish granted when their long-held Scoresby childhood home sold to another family.
The 17 Nevana St home fetched $866,000 at auction, well above the $720,000-$790,000 price guide.
The 1146sq m block had development potential, with an investor among five bidders, Barry Plant Wantirna agent Brett Smith said.
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“The six (siblings) had inherited the property and had fond memories living there,” he said.
“So they were hoping the house would go to a family with children instead of to a developer.”
The irregular-shaped block was a popular listing and sold to a young couple living locally who wanted to remain near family, Mr Smith said.
The property attracted young families looking for a good-sized block; it had been held by the sellers for more than three decades, with their family paying $101,700 for it.
Knox suburbs again recorded a strong clearance rate of 85.7 per cent from 21 auctions for the week ending October 6, according to CoreLogic data.
A third of the properties sold prior to auction, while 11 sold on the day and two were passed in.
The Knox market had risen since the federal election and three interest rate cuts, Mr Smith said.
“Prices have probably gained 10 per cent since then, and while the tight supply has improved it is still well below the spring average,” he said.
“There are now more buyers, from first-home buyers to downsizers and investors.”
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