Richmond result sees funky flair take centre stage as reserve smashed
Funky industrial character and ‘60s flair paid off in spades for one happy couple who sold their Richmond townhouse $328,000 above reserve.
Vendors Tom and Aditi sold 2/352 Burnley St for $2.178 million under the hammer, swapping the contemporary industrial design for a 100-year-old Canterbury home.
The home was listed with a price guide of $1.7-$1.85 million.
The pair are making the move closer to family as they prepare to welcome a baby into the world.
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Polished concrete floors, high ceilings and a balcony with pool and city views proved popular with four groups, with Cremorne-based Mia winning the keys for her young family.
“There aren’t many funky pads that look like this,” Mia said of the new family home. “We just loved the look of it.”
She said the impeccable quality of the architecturally designed home and the pool for the kids were key selling points.
An opening bid of $1.6 million was quickly followed by a vendor bid at $1.7 million as the auction action got off to a sluggish start.
Once the property was eventually declared on the market at $1.88 million, the pace immediately picked up, sparking fierce competition and almost 50 bids, in increments between $10,000 and $1,000.
Three groups of downsizers eventually lost out to the local family.
After last selling for $1.94 million in January 2017, Jellis Craig Richmond director Elliot Gill said the sale was a perfect litmus test for the market.
“It was very strong considering it was probably a bit of a test for the market — they bought at the peak,” Mr Gill said. “We weren’t expecting it.”
He said the number of houses on the market had fallen by up to 40 per cent compared to a year ago.
“Buyers are frustrated with the amount of stock but they’re still very selective. They’re still prepared to wait for the right option.”
Mr Gill said the strong sale would likely encourage neighbours who came to watch proceedings to list their own properties.
“We made some suggestions to make modifications to make it more broadly appealing … it looked so much like a bachelor pad,” he said.
Changes included removing a conversation pit in the middle of the lounge room, plus a bar and in-wall fish tank.
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