Short-stay option seals deal for townhouse buy
An extra bungalow that brings in $1200 monthly as an Airbnb listing helped seal a Wantirna townhouse sale.
The 24/3 Ashley St property went to a first-home buyer for $580,000, which was the highest price recorded in the 34-unit complex.
This was $90,000 above the next highest sale of $490,000 for No. 17/3 in early 2018, sales records show.
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The four-bedroom unit had four offers, all from first-home buyers, with a total of 54 groups inspecting it and it sold within two weeks, Noel Jones Wantirna agent Dylan Hare said.
“It sold above the $530,000-$570,000 price guide, which surprised us,” Mr Hare said.
“It was renovated and had an extra bedroom which was used as an Airbnb listing and this money helped pay the mortgage.”
The buyer, from the city, is relocating upon the recommendation of friends living in the suburb already, and was attracted to the extra self-contained bedroom.
They will also rent out the extra bedroom for income.
Rising demand from first-home buyers in Knox suburbs has helped the market weather a difficult 18 months, Mr Hare noted.
“We see plenty of such buyers active because prices have declined between $50,000 and $100,000 and there are more properties that suit the budgets of such buyers,” Mr Hare said.
“And these buyers enjoy stamp duty savings for properties under $600,000.”
Another popular listing was 17 Hilda Ave, Boronia, which had more than 100 groups at inspections and six offers within two weeks.
It sold for $555,000 to another first-home buyer coming from nearby Burwood.
“Two years ago, first-home buyers were priced out of the strong market but this has changed,” Mr Hare said.
“Listings are still slow but demand has been growing as we see from great numbers of buyers at inspections.”
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