O and Bayside…

Morrell and Koren, the 1st buyer's advocates O. Zero. Zilch.

Nothing worth reporting on up at this end.

We won’t waste your time.

David Morrell

Bayside: Victorians rule

Bayside’s uber end scored a rare goal during the week with the private sale of one of Brighton’s most historic properties, “Blair Athol ” at 5 Leslie Grove.

On an impressive garden of over 3,300 sq m, it’s a Victorian mansion which comes with the requisite tennis court and pool and the original stables; now converted into an outdoor games and pool area.

The house sold in better times for $8 million and, given the contraction in Brighton’s top end, the rumoured price of close to $7.5 million is commendable. An even better sign is that not one but two punters were vying for it. No doubt the vendors of a nearby property on similar land at 6 Were Street would be buoyed by the result.

In keeping with the period theme, two other slightly less imposing Victorians also changed hands.

17 Seymour Grove passed in on a vendor bid of $3 million a month ago. A change of agent and approach saw a sale wrapped up at $3.4 million. It’s amazing what a difference an agent can make.

On the other side of Nepean Highway, a rare single level Victorian at 1 Berkeley Grove changed hands at $2,225,000.

The auction results for the week in Bayside hovered around the 70%. Top price paid at auction was for a town house at 125 Cochrane Street, Brighton. It sold for $2,015,000.

A well attended land-only auction was conducted at 7 Young Street, Brighton. 683 sq m, with a Northerly rear orientation, real interest was anticipated and at least three new house builders were competing. It sold under the hammer for $1,805,000, which is considered well enough for this street.

The gong for the pass-in of the week went to an apartment in the Golden Mile. Unit 4 at 1 Chatsworth Avenue managed only a vendor bid of $1.9 million. Its reserve is now set at $2.1 million

Brighton East had six out of six sales at auction. Although the pick of the crop at 183 Were Street was passed in at $2.115 million with three bidders, intense post auction negotiations eventually resulted, we’re told, in a sale in the $2.2 million to $2.3 million range.

Last week, anything south of South Road was lucky to have been given away. Over the weekend, the wind shifted and eight out of the eleven on offer sold. Highest was 5 May Street, Hampton, at $1,520,000.

It’s a lack of consistency which suggests that the local market is still a little brittle. It takes a lot of quality to exceed expectations.

Except the Bentleighs. There, if it has a hoarding, it’s usually not for long. Last week there were four private sales at over $1 million – 15A Windsor Avenue (sorry, no link) going for a substantial $1,282,700.

Stock levels are now lagging behind buyer demand in Bayside and competition is increasing. Once again, deep pockets are becoming the ultimate decider.

Damian Taylor

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