A recently-renovated terrace in Melbourne’s inner north had two families battling at auction because they wanted to avoid the rising costs and delays of building.
He added that as building costs rose, househunters were increasingly prepared to pay premiums for turnkey homes.
About 651 auctions were scheduled across the state last week, with 816 properties expected to go under the hammer this week.A stylish kitchen boasting ample timber cabinetry, stainless-steel dishwasher, electric oven and five-burner gas cooktop with wok. Barry Plant Inner City Group agent Jarrod Couch said seven bidders drove the price to $820,000, above its $720,000-$770,000 asking range.
Mr Matthews said families wanting to demolish the existing home and build a larger abode had expressed interest in the 468sq m site.