Different spin on Malvern East auction outcome

Different spin on Malvern East auction outcome
Different spin on Malvern East auction outcome

Weekend auction reports were at odds on the status of a sale in Melbourne prestige Malvern East property market.

Nine Entertainment carried two conflicting stories on a 1920s Malvern East home sale result.

One report had Kay & Burton's Michael Armstrong noting that buyer confidence was "coming back to the market citing an auction at 56 Clarence Street, Malvern East, selling for about $3 million."

However The Australian Financial Review disputed Domain when referencing the view of buyer's agent Emma Bloom who has provided regular Monday morning negative market commentary ever since quitting her estate agency job at Kay & Burton last year.

Bloom noted the 1920s five-bedroom residence at 56 Clarence Street passed in after a vendor bid but sold soon after for $2.76 million, which was lower than its $3.2 million official valuation.

There had been $2.8 million to $3 million pre-auction price guidance given by the K&B agents Gerald Delany and Mark Mckenzie.

Bloom became an estate agent in 2012 in sales with Kay & Burton South Yarra after nine years with women’s fashion brand Portmans, which was owned by her father Norman and uncle Barry until its sale to Just Jeans.

The property, nestled on the fringe of the Gascoigne Estate, sits on 775sqm.

Admired for its elegant period façade, the existing five bedroom, three bathroom family home presented an opportunity to secure a site for a luxury new home.

It sold for $65,000 in 1978.

Weekend Auctions Malvern East

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