Mt Waverley property gains almost $1m in two years
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.
RELATED: Glen Waverley: back-to-school buyers run amok at auction
Bidding battle for Mt Waverley house in sought-after school zone
Manningham prestige property buyers value quality builds over lifestyle blocks
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.”
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.
READ MORE: Bright Green tea plantation contracted to Ito En for sale
Box Hill South California bungalow leaves reserve in winter wake
Johanna Lyle: Olympian and Siesta Home founder’s Home Truths