Doncaster East house sells for 40% above price guide

Alistair WalshAugust 8, 20130 min read

A five bedroom house in Doncaster East sold at auction last weekend for almost 40% more than the published price guide leading into the auction.

After being advertised at $800,000 to $880,000, 45 Beverley Street (pictured below) sold for $1.22 million – a price improvement of 39.5%.

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Ray White agent George Papadopoulos told Property Observer he didn’t know what the comparable sales in the area were, saying “I don’t care”.

He says there were eight bidders at the auction which pushed the price far beyond its reserve of $900,000.

Despite the enormous price discrepancy between the price guide and the actual sale price he insisted there were no angry bidders at the auction.

“I’m not a mind reader. You’re asking stupid questions,” Papadopoulos said.

“I wouldn’t be angry [if I was bidding at an auction which sold for 40% above the price guide].”

The two storey house comes on 722 square metres. It has three bathrooms, a two-car garage and open space for more cars, multiple living spaces, a large kitchen with a walk-in pantry and, walk-in robes in all bedrooms and a backyard shed.

Papadopoulos told Property Observer that the owners wanted $900,000 so he set the price guide accordingly.

On the morning of the August 3 auction he said there was interest in the property at $1.1 million.

Bidding came from local families and overseas buyers.

“I’m still on cloud 9,” he told Property Observer.

But he’s not alone on cloud nine in Doncaster East.

A nearby three bedroom house at 44 Landscape Drive (pictured below) sold the same day for $820,000 – 24% above the price guide of $600,000 to $660,000 leading into the auction.

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The single level home on 644 square metres was sold by Fletchers agents Jason Salan and Ebony Driscoll.  It comes with a study, a double garage and two bathrooms.

A Property Observer survey found Melbourne auction properties sell for 11% above their price guide.

A search by Property Observer returned 31 recent house sales in Doncaster East between $800,000 and $1.2 million so far this year, which most estate agents would suggest offer comparables sales advice, even taking into account out--of0line sales.

The recent sales in Doncaster East were.

34 Abelia Street, $900,000

24 Ascot Street, $840,000

32 Baratta Street, $800,000

17 Beresford Close, $1,135,000

3 Camira Close, $830,000

35 Churchill Street, $900,000

2 Correa Court, $920,000

6 Cosmos Court, $900,000

7 Diamond Court, $800,000

2A Franklin Road, $935,000

40 Gaudion Road, $950,000

38 Ireland Avenue, $835,000

4 Kris Court, $840,000

14 Larnoo Drive, $994,000

1 Leroy Place, $802,000

19 Monomeath Close, $1,068,000

3 Mont Close, $850,000

3 Murphy Road, $830,000

18A Norman Street, $968,500

8 Pine Way, $880,000

1 Regency Place, $950,000

3 Regency Place, $950,000

16 Rosamond Crescent, $1,050,000

68 Saxonwood Drive, $920,000

41 Schafter Drive, $800,000

5 Teringa Court, $805,000

14 Thorncombe Walk, $852,000

5 Treevalley Drive, $1,152,000

10 Viewmont Court, $800,000

4 Yates Wynd, $930,000

Alistair Walsh

Deutsche Welle online reporter
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