Developer snaps up Canterbury home for 37% above reserve: RP Data
A 1950s Canterbury home soared passed its reserve by 37% to take out this week’s most expensive sale, selling under the hammer for $5.76 million, according to RP Data.
Located on Rochester Road, the four-bedroom home sits on a large 3,276-square-metre site – an unusually big size for the tree-lined suburb.
The site was marketed as having redevelopment potential – STCA – and four parties took part in the bidding war with a developer snapping up the site.
Peter Vigano of Jellis Craig Hawthorn says the successful bidder plans to build four properties on the Canterbury site.
Vigano says blocks in Canterbury generally average around 700 square metres.
The vendors purchased the empty site in 1925 and built the family home in 1953.
The property was listed by Peter Vigano and Sally Morrison of Jellis Craig Hawthorn.
The median house price in Canterbury is $1.81 million, an 11.7% change in the past five years, according to RP Data.
Most expensive sales:
37 Rochester Road, Canterbury, VIC, 3126, four-bedroom house, sold at auction on December 7 by Jellis Craig Hawthorn for $5.76 million
367 Cotham Road, Kew, VIC, 3101, eight-bedroom house, sold at auction on December 7 by Abercromby's Real Estate for $5.6 million
13 Craig Avenue, Vaucluse, NSW, 2030, five-bedroom house, sold on December 4 by Ray White Double Bay for $4.35 million
29 Wilson Street, Carlton North, VIC, 3054, six-bedroom house, sold at auction on December 7 by Nelson Alexander Carlton for $3.85 million
26 Brighton Boulevard, North Bondi, NSW, 2026, four-bedroom house, sold at auction on December 5 by Raine & Horne Double Bay for $3.82 million
40 Archer Street, Toowong, QLD, 4066, six-bedroom house, sold at auction on December 5 by Place Estate Agents New Farm for $3.8 million
11 Kent Avenue, Brighton, VIC, 3186, four-bedroom house, sold at auction on December 7 by Nick Johnstone Real Estate Brighton for $3.77 million
7 Pindari Avenue, Castle Cove, NSW, 2069, five-bedroom house, sold at auction on December 8 by McGrath Estate Agents for $3.6 million
6 Adolphus Street, Balmain, NSW, 2041, five-bedroom house, sold at auction on December 7 by Cobden & Hayson Balmain for $3.45 million
15 Mansfield Street, Glebe, NSW, 2037, six-bedroom house, sold at auction on December 7 by Cobden & Hayson Balmain for $3.32 million