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Apartment buyers beat down the door at auctions on Saturday

A buyer fought off six contenders to pay $600,000 for 5/48 Chomley Street in Prahran. Photo: SuppliedAn “absolute shortage” of inner urban houses and townhouses, says Biggin & Scott’s Chris O’Shaughnessy, means vendors should sell now, rather than next year, when demand could taper off.
Nanjing Night Net

“A small correction – say 5 per cent – is a fair bit in a sale at one million dollars,” he said. “Fifty-thousand could have bought a new family car.”

But, it was quality apartments rather than houses that dominated reports on Saturday.

Biggin & Scott sold a two-bedroom apartment at 406/8 Howard Street in Richmond with views over the Yarra for $691,000 (against a reserve of $600,000).

In South Yarra, Robin Boyd devotees attended the auction of a well-preserved “time-capsule” in the architect’s Domain Road apartment block, “which took high-rise living much higher than the usual three-storeys in 1962,” said buyers advocate Richard Wakelin.

In Unit 6 at 1/193 Domain Road, the original fixtures remained, he said, adding valued history to glassy northerly views over the Botanic Gardens from all three bedrooms, the living room and generous balcony.

“It’s as good as an apartment overlooking Central Park, New York,” said Anthony Reis, of agents Marshall White, who passed-in to a mature couple at $1.525 million and later sold to them for $1.75 million

Meanwhile Hocking Stuart South Yarra sold a two-bedroom apartment they said had “house-sized proportions,” at 9/12 Kensington Road for $892,000 (reserve $800,000), reported buyers advocate Frank Valentic.

In Prahran seven bidders battled for a top floor apartment in a small block at 5/48 Chomley Street, with city views. “It ticked all the boxes as a quality blue chip investment,” said buyers advocate Melissa Opie.

Garry Peer auctioneer Leor Samuel declared it on the market at $500,000 and sold for $600,000. DomainThis story Administrator ready to work first appeared on Nanjing Night Net.

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