A stylish French Mediterranean villa in Brighton, Australia, sold for $8.5 million at auction, representing a $1 million loss for the vendors. The property at 36 Dawson Avenue, located on the prestigious Golden Mile, attracted two local bidders who engaged in competitive bidding before the property was ultimately sold privately for $8.5 million. The auction clearance rate for Melbourne on Saturday was recorded at 67.7 percent, indicating a positive trend in the property market.
A stylish French Mediterranean villa-inspired residence in Brighton sold for $8.5 million after auction on Saturday, a loss of $1 million for its vendors.
The Brighton home is located on one of the suburb’s coveted Golden Mile streets, with panoramic views over Port Phillip Bay and the Melbourne skyline. “There have been a reasonable amount of transactions in the top half but still with opportunities to be had,” he said.With a price guide of $800,000 to $850,00030 Coleman Street’s price point attracted five active bidders said Jellis Craig selling agent and auctioneer, Charles Atkins.
National research manager from PRD, Diaswati Mardiasmo said that while it is not back to the Melbourne average, the clearance rate is tracking upwards. In Moonee Ponds, a two-bedroom single-level Victorian home sold under the hammer for $1,185,000, over its reserve of $1.15 million.
AUCTION REAL ESTATE MELBOURNE BRIGHTON PROPERTY MARKET
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