The deceased estate was in poor condition, and attracted spirited competition from builders and property flippers looking for a project.
The sale price of a four-bedroom Williamstown houseA builder fought off five other buyers to secure the keys to a run-down Coburg home on Saturday, paying $965,000 at auction.was a deceased estate; the walls were cracking, the wallpaper peeling and the carpets worn and stained in places. The home sat on 435 square metres of land.
“Literally has had no work done to it … since pretty much being built. So it does have some wear and tear,” he said. Jellis Craig auctioneer Warwick Gardiner said a first home buyer had beaten downsizers for the keys to“We had a bunch of empty-nesters looking to buy it because it had no stairs,” he said. “We had a few first home buyers, and it was actually a first home buyer who won it which was unusual ... because empty-nesters tend to have deeper pockets.”Jellis Craig selling agent Mack Burgoine listed the home for sale with a quoted price range of $1.25 million to $1.35 million.
He said auctioneer Terry Fitzpatrick had done well to get the best price he could; some buyers had come close to making late bids on a few occasions.Rankin listed the home for sale with a quoted price range of $1.22 million to $1.3 million. The auction opened at $1,235,000, $5000 more than the highest offer made on Thursday.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Servo a no-no: Coburg locals, council say eight petrol stations is enoughA council has sided with residents and refused plans for another service station in a part of Melbourne where people are encouraged to walk, cycle or use public transport.
Read more »
Workers union: Builders sign up to CFMEU NSW’s 22pc pay riseBuildcorp has become the first builder to sign up to the CFMEU’s new industry agreement in NSW, which leapfrogs John Setka’s Victorian deal.
Read more »
Four builders a week going broke in Western AustraliaFour builders are going broke every week in Western Australia despite a soaring demand for new homes.
Read more »
Housing sales: interest rate uncertainty dogs home builders as buyers stay awayLess than half of companies polled by Macquarie said they expected sales to increase, even as inquiries for new houses begin to increase from last year’s lows.
Read more »
Complaints about builders accepting payment but failing to deliver rise in QueenslandAuthorities say there has been a spike in the number of construction industry complaints where payment has been accepted but services not delivered.
Read more »
Nearly 3000 building companies go broke in a yearThe construction sector remains by far the single largest category of insolvency as builders carry the ‘largest risk’.
Read more »