Johnny Famechon's Frankston South House sells pre-auction

Johnny Famechon's Frankston South House sells pre-auction
Johnny Famechon's Frankston South House sells pre-auction

The longtime home of the boxing legend Johnny Famechon at Frankston South sold before its scheduled weekend auction.

The boxing hall of fame inductee’s home (top) came with $1.2 million to $1.3 million price hopes.

A nearby Mount Eliza buyer put in a strong offer to snap it up on Friday.

It was built in the 1970s with Mediterranean touches, as a family home after Famechon had been crowned world featherweight champ in 1969.

He was inducted in the Australian National Boxing Hall of Fame in 2003, having recorded 56 wins, six draws and five losses over his impressive 20-year career.

There were only a few traces of photographic memorabilia hanging on the walls dating back to the triumphs of the 73-year-old who has been immortalised in a statue at Frankston’s Ballam Park.

Famechon had custom built the four bedroom home on the 2809sq m property, with a pool and tennis court.

Meanwhile the AFL Richmond star Alex Rance sold his Niche, Richmond investment apartment (below.)

The two bedroom pad at 606/120 Palmer Street fetched $678,000, after being announced on the market at $672,000.

Johnny Famechon's Frankston South House sells pre-auction

Three bidders competed for the apartment which Rance bought to liver in after his debut season for $675,000 off the plan in 2009.  

The top floor apartment, with two balconies with district views, had recently been a $580 a week rental.
 
The price guidance quoted had been $620,000 to $680,000.

The slow down in offerings continued deeper into winter and school holidays, with a total of 1,400 auctions held across the capital cities, down from the prior week when 1,671 auctions took place.

CoreLogic calculated a preliminary auction clearance of 55.9 per cent, which was up on the previous week’s 52.6 per cent final clearance rate.

"The weighted average has remained within the mid-50 per cent range for each of the last 8 weeks, while one year ago 65 to 70 per cent of homes were selling," CoreLogic auction analyst Kevin Brogan said.

"Although the capital city weighted average is substantially lower than a year ago, auction results are holding stronger relative to the 2010-2012 downturn in home values when the capital city clearance rate held below 50 per cent between mid- 2011 and early 2012," he added.

There were 632 Melbourne homes taken to auction, returning a preliminary clearance rate of 58.2 percent. Last week, 791 auctions were held across Melbourne with a lower 57.2 per cent success rate.

Melbourne's most expensive result was on Stanhope Street, Malvern when a Shanghai buyer paid $2.74 million for a four bedroom home (below).

Johnny Famechon's Frankston South House sells pre-auction

The classic 1893 Victorian period home, Hye House had been expected to sell for between $2.6 and $2.8 million.

It last sold at $1,115,000 in 2005.

In Sydney, 55.1 per cent of properties sold, up from last week when final result saw less than half of Sydney homes successful at auction at just 49.7 per cent.

Click here to enlarge.

Johnny Famechon's Frankston South House sells pre-auction

There were fewer Sydney auctions held this week compared to last, with 544 homes taken to market down from the 634 auctions last week as of final figures.

The highest Sydney weekend sale was 11 Darook Park Road, Cronulla, a likely knockdown home, which sold for $5.8 million.  The four bedroom, three house on Gunnamatta Bay had last sold in 2013 for $3.8 million and $3.2 million in 2008.

Some five of the 11 registered bidders competed for the beachfront on over 1000 sqm. It was the seventh sale on the road above $5 million over the past decade.

Canberra returned the strongest preliminary clearance rate of 64.7 per cent while only 30.8 per cent of homes sold in Perth.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
Weekend Auctions Frankston South

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