Mt Waverley property gains almost $1m in two years

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High-end living at 25 Donald St, Mt Waverley.

Savvy sellers made a nice profit in two years after their brand-new Mt Waverley house sold for $2.188 million after passing in under the hammer.

The vendors of 25 Donald St purchased the property for $1.305 million in March 2017, when an older house was on the block, according to CoreLogic figures, representing a sale price improvement of $883,000 in just over two years.

Despite the improved price, it still fell short of the quoted range of $2.3-$2.45 million for the French provincial-inspired house, which passed in at the August 31 auction at $2.095 million.

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French provincial style inspired the single-level build.

The property in 2017.

Jellis Craig Mt Waverley agent Jared Wei said negotiations took just 10 minutes to arrive at the eventual sale price after the highest bidder came inside.

“It sold after (passing in at the auction) — very quickly,” Mr Wei said.

“The wife was pretty engaged with the property, the man just paid the money.”

“They had moved away from the area and wanted to relocate back to Mt Waverley, they fell in love with the design and materials.”

The property sold for $2.188 million shortly after passing in.

Stone benches, Smeg appliances and a walk-in pantry in the kitchen.

The kitchen used to be a bit more cramped.

Mr Wei said it was uncommon to see a single-level property with such high quality fittings in the area.

A middle-aged couple with one child purchased the property, which the vendors built for themselves before a change of circumstances made them decide to sell.

Mt Waverley’s median house price to May is $1,202,500, having fallen by over 14 per cent in a year, according to CoreLogic data.

Mr Wei said there were lots of buyers looking for properties at different price ranges in Monash, but supply was struggling to keep up with demand.

Outdoor entertaining transitions to the indoors.

Three bathrooms are all class.

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