Doncaster East buyer snaps up dream home block at first sight
Spring and summer market set to strengthen as buyer confidence on the rise
A local family has paid top dollar to secure a prized Doncaster East block for their dream home.
The buyer, who purchased the property at 20 Kennon St for $1.716 million, plans to demolish the existing four-bedroom house on the 726sq m block.
Three other bidders hoping to build on the site missed out at the auction on 12 October.
The successful bid soared well above the seller's expectations of $1.45 million, according to Barry Plant Manningham director Scott George.
“The buyer only saw the property for the first time at the auction and decided they wanted it,” Mr George said.
The 'spirited' auction was held in front of a large crowd, with the final result coming in $266,000 over the seller's desired price due to competitive bidding and the purchaser's uncompromising drive to secure their dream location.
Listed with a price guide of $1.4–$1.5 million, the property featured many original elements and a swimming pool.
Mr George noted that flat blocks in the sought-after East Doncaster Secondary College zone were rare, making this property especially attractive to buyers.
On the same day, Mr George also auctioned a two-bedroom unit at 10/224 Williamsons Rd, Doncaster, which sold for $670,000.
The property was purchased by a first-home buyer who, like the Kennon St buyer, saw the unit for the first time at the auction.
“The buyer’s strong bidding deterred others, and the unit sold for the seller's dream price,” Mr George said.
He added that while the spring market had been “patchy” so far, buyer confidence was growing.
“There has been more activity as buyers look to secure properties before Christmas,” Mr George said.
“We expect a strong market in the next two and a half months, with plenty of stock and enough buyers around.”
Meanwhile, in the inner northwest suburb of Aberfeldie, 2/51 Brunel St sold under the hammer for $1 million on 12 October.
The auction opened at $850,000 and ended with a result nearly $65,000 above the seller's desired price. The three-bedroom unit on 272sq m previously sold for just $160,000 in 1991, according to sale records.
As always, if you need assistance in achieving your property goals, the team at Barry Plant is here to provide expert advice every step of the way.