Winning result on Phar Lap Drive as bassist sells in Blackburn
The Blackburn home of a bassist hit the right note with buyers as a Doncaster property galloped to a strong sale on the first weekend of winter.
Motor Ace member Matt Balfe’s slice of modernist magic with a huge backyard close to Blackburn Lake Sanctuary sold under the hammer for $1.92 million.
The three-bedroom home at 12 Phar Lap Drive in Doncaster’s Tullamore Estate fetched $1.09 million, as the Manningham and Whitehorse clearance rate stayed strong at 67 per cent, according to CoreLogic.
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The Mirvac-built two-storey Phar Lap Drive home was listed with a price guide of $900,000-$990,000 and the reserve price fell in that range.
Three bidders competed for the property, which sold to downsizers after strong interest from young families, attracted by a playground across the road and community projects in development.
“They’re also building a central hub at Tullamore Estate,” Jellis Craig Doncaster agent Anthony Pittas said.
“There’s going to be a gym, cafes, Next Gen Health and Lifestyle Clubs by mid-2020.”
About 80 groups viewed the property ahead of the auction, with redevelopment at the nearby Westfield Doncaster also helping to generate interest.
“A lot of buyers had been looking at neighbouring suburbs like Balwyn, Balwyn North and Kew,” Mr Pittas said.
“For those types of buyers, their expectations on what they had to spend was far higher, so something like this was quite good value for money.”
Mr Pittas said there’d been an increase in buyer confidence and stability in the wake of the federal election.
“We truly feel like the bottom of the market is now behind us and there’s a little bit more confidence out there,” he said.
“Buyers are actually making decisions and buying properties. Together with prices now at a pretty reasonable level, that means people are now taking that opportunity to get into the market.”
Mr Pittas said limited supply of high-quality homes was also creating competition.
A four-bedroom Doncaster East home sold $104,000 above reserve at a June 1 auction.
A family with plans to rent the property, at 25 Owens St, out for a few years before moving in purchased it for $1.254 million, beating three other bidders who were all families.
With 126 groups attending the home ahead of the auction, Ray White Manningham agent Nathan Papadopoulos said the vendors were thrilled with the result.
“There’s a little bit more confidence in the marketplace at the moment with the election now in the past,” Mr Papadopoulos said.
Motor Ace bassist Matt Balfe’s four-bedroom Blackburn property with a huge backyard that includes a creek sold under the hammer for $1.92 million.
No. 11 Jeffery St was called on the market at $1.85 million before quickly racing to its final sale price.
The sprawling property, designed by architect David Edelman, attracted three buyers who placed 13 bids between them.
It eventually sold to an architect, who did not want to be named. The buyer said he appreciated the mid-century style of the house and planned to live there with his family.
“We want to do a renovation using the bones of the architecture,” he said.
“We also really liked the trees, nature and the creek that runs through the backyard — that’s something we’ve never seen before.”
Jeffery St is one of a number of streets surrounding Blackburn Lake Sanctuary with heritage listing due to the native trees and large variety of bird species that frequent the area.
Mr Balfe, who was part of the rock band that gained popularity in the early 2000s, said living there with his family for a few years had been a dream gig.
“I’d always fantasised about living in that street — my sister lives around the corner in the old Masonic lodge,” Mr Balfe said.
The musician said he was moving interstate and playing with his Motor Ace bandmates was also “back on the agenda”.
Fletchers Blackburn agent Michael Richardson said the rare property had been very popular with young families who were hoping to break into the tightly held area.
“It’s a substantial house with a creek running through the block of land, which is perfect for a family,” Mr Richardson said.
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