Pollster Gary Morgan to test bounce back in Melbourne's prestige residential market
Pollster Gary Morgan doesn't need to take a poll. The Melbourne prestige market is bouncing back a bit. Earlier this month Gary Morgan was the highest bidder when $5.155 million was secured in an East Melbourne auction.
Contested by four bidders, in front of a crowd of 150, its Nelson Alexander listing agent Arch Staver opened with a vendor bid of $3,950,000 for the historic, Claverings.
The first bidder came at $4 million, then $4,050,000. The third bidder came with a bid of $4,125,000.
They were after the chance to become the home's third owner as just two families had the property over the past 139 years.
There were 14 rooms comprising up to five bedrooms, along with three formal rooms, a separate consulting/home office suite of three rooms, with reception and waiting room with separate side access.
Also an original cellar and garage and workshop with space for up to six cars on its 752 square metre allotment.
The James Buyer Advocates report on the auction action noted increments of just $5,000 came as the pace slowed at $4,325,000.
The vendors were back with a $4.4 million bid, but soon the final bidder came in at $4,710,000 with two then battling it out to its $5,155,000 hammer price.
"There was jubilation and commiseration offered to the two crowd champions before Mr Staver thanked the crowd for the lively competition and directed the successful bidder into his new home," buyers agent Josie Wagstaff noted.
The pollster Gary Morgan is now about to list his historic East Melbourne mansion in George Street.
The chairman of Roy Morgan Research has engaged Jock Langley of Abercromby on the marketing with The Age saying about $10 million is being sought for the two-storey Victorian designed by architect Charles Webb in 1864.
At that price its considered one of the best houses in East Melbourne.
In a recent sale James pointed to "a very strong result" at Toorak Road West, South Yarra", which had four bidders and sold under the hammer for, $4,365,000. It was the Alannah Hill offering.
But James noted "some non-events."
He says there are a lot of homes in the price segment were still left unsold from last year, "so it could take a bit of time to clean up that overhang."
James noted, with very few truly trophy homes in the mix, that it won’t be known until Easter if the top end is on its merry wa?y.