2013's five stand out Melbourne sales that had everyone talking

Last year was a good one for sellers in Melbourne’s property market, with RP Data reporting an 8.5% rise in Melbourne home values from 2012. Buyers came out in droves and records were broken as low interest rates and foreign investors boosted the market. Here, we take a look back at some of Melbourne’s most exciting sales of 2013.

5) 2D Castlemaine Street, Yarraville

The rise of Melbourne’s inner western suburbs continued last year, exemplified by the record breaking sale of this contemporary three bedroom Yarraville home, built in 2007. Split over four intertwining levels, with private balconies and a lap pool, the residence sold in September for $1.56m, the highest sale price ever recorded in the suburb.

4) 111 Alfred Crescent, Fitzroy North

This two bedroom, single fronted Victorian terrace proved that location is everything. Buyers looked past the un-renovated property’s 1970s style interior and instead to its prime position across from North Fitzroy’s Edinburgh Gardens. The modest property also boasts easy access to the University of Melbourne, Fitzroy’s Brunswick Street and the Melbourne CBD.

According to Chambers director John Costanzo, the May 2013 sale exceeded expectations, selling for $1.41m - well above the reserve of $1m.

3) 13 Hume Street, Armadale

Another single fronted Victorian style home made waves last year. This Armadale residence was purchased by the sellers in 2009 for $855,000. After completing a quality renovation, the property was auctioned on October’s record breaking Super Saturday, making it one of 1,385 auctions listed on the day.

With a record breaking attendance at the Jellis Craig Bennison MacKinnon auction, the sale came down to six bidders, with agent Andrew McCann reporting that there were a handful more that didn’t get a chance to make a bid.

“On average, those homes around 200 square metres would be expected to sell for $1.3m to $1.4m”, he said.

13 Hume Street sold for $1.73m, breaking the record for the highest sale price of a single fronted home under 250 square metres in Armadale.

See over page for the Top Two

Further east, this Mount Waverley home also broke records.

The residence is divided into two wings, separated by an outdoor area with an in-ground pool and covered patio. The two bedroom house also has multiple indoor entertaining areas, including a double garage integrated into a rumpus room.

The property’s Friday evening twilight auction didn’t dissuade punters, with 120 people in attendance. It sold for $970,000, above its reserve of $850,000.

1) 9 Medford St, Altona 3018

The sale of former Prime Minister Julia Gillard’s Altona residence generated more public interest than almost any other property in 2013. According to realestate.com.au, the property garnered more than 5800 views on the website in its first week of listing – eight times more than the norm for Altona.

Sold on one of the final weekends of the year, the auction attracted hundreds of spectators. The single story brick home, which Gillard purchased for $140,000 in 1998, sold for $921,000.

Which 2013 sales interested you? 

jrichardson@propertyobserver.com.au