Middle Park auction delayed by fire ready for winter market
A Middle Park house that has risen from the ashes could benefit from its delayed sale at auction this weekend.
The Victorian home at 22 Fraser St caught on fire the day before it was scheduled to go under the hammer last August.
After extensive renovations to repair the property, it is finally ready for auction tomorrow, June 22, with a $2.2-$2.4 million price guide.
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Greg Hocking Holdsworth agent Max Mercuri said a price correction in the market since last year meant there were more buyers looking at the house.
He said about 60 groups, mostly families looking to upsize, had inspected the four-bedroom home.
CoreLogic auction analyst Kevin Brogan said it was possible the house could fare better on the current winter market than it would have last year.
“Being in a prime location like Middle Park, which is very tightly held, could increase the chances of a sale,” Mr Brogan said.
“Last week we saw one of the highest auction results in St Kilda West and there was very spirited bidding for that property.”
He added that last week’s 65 per cent final clearance rate, which was the strongest result since April 2018, was also a positive sign for houses going to auction.
The Middle Park property is one of 600 testing the market this week in Melbourne, according to CoreLogic. It’s a drop from the 879 properties that went to auction in the same week last year.
A converted Windsor warehouse at 2A Frederick St is another rare opportunity for buyers.
The architectural delight, which has 6m-high ceilings and a private courtyard, was an unusual find in the suburb. The vendors have $1.8-$1.98 million price hopes.
Kay & Burton South Yarra agent Darren Lewenberg said it was “unbelievable” how many people had inspected the property during its campaign.
“There’s been a huge demographic of buyers and it’s certainly because of the rarity of the opportunity, people’s lifestyle aspirations and the fact these properties don’t come up on the market very often,” Mr Lewenberg said.
A family home in Ferntree Gully is also set for a cracker auction. More than 48 groups had inspected the old period home at 24 The Avenue.
Four parties have already confirmed they are bidding on the three-bedroom house, which has a $700,000-$770,000 price guide.
— with Jack Boronovskis
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