Westmeadows unit smashes reserve by almost $100,000
A modest Westmeadows unit sold a startling $90,000 above the reserve at the weekend.
Six fierce bidders drove up the price of the three-bedroom gem at 10/72-74 Hillcrest Drive to $588,000 on April 27. It was on the market for $460,000-$490,000.
RELATED: Bizarre fringe dwelling of jailed recluse linked to toxic dumps sold
Energetic investor snaps up tired Glenroy apartments
Oak Park ultra-modern showpiece smashes suburb price record
Ray White’s Phillip Mercieca said the result was unexpected and a positive one in a challenging market.
“It was a fantastic outcome and quite a surprise,” he said.
“Six buyers fighting for one property is a rare occurrence these days.”
A downsizer from Greenvale defeated four first-home buyers and an investor to win the keys to the home.
The owners, now living in Queensland, were over the moon about the result.
“They couldn’t believe it at first,” Mr Mercieca said.
Mr Mercieca sold the property brand new to the owners about 10 years ago when they were looking for their first home.
“After moving up north, they rented out the property for a few years before deciding to put it on the market,” he said.
Privately tucked away, the unit has an open-plan living, dining and kitchen area that leads out to an outdoor entertainment deck, synthetic-grassed courtyard and the garage.
It features stone benchtops and stainless-steel appliances in the kitchen, high ceilings, timber floors, a bathroom with a spa, ducted heating, refrigerated cooling and an alarm.
Mr Mercieca said the property was in a price bracket sought after by first-home buyers, investors and those looking to downsize.
“There’s not much for sale at the moment,” he said.
“So when something like this hits the market, it attracts strong interest.”
Homeowners should consider putting their properties on the market, he said.
“This is a good time to sell.
“Five people missed out at this auction and are ready to buy.”
CoreLogic records show the median price for units in Westmeadows has jumped 9.7 per cent to $521,000 in the year to January.
The median house price rose 3.3 per cent to $620,000 in the same period.
SUBURB PROFILE: WESTMEADOWS
MORE: Irresistible offer too good to refuse in Greenvale
Greenvale party pad sets new benchmark
Couple charmed by ‘unique’ Greenvale home with turret