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House price records broken on all sides of Melbourne in 2017

HOUSE price records have been broken in suburbs on all sides of Melbourne this year, as the market kicks up to another level.

Benchmarks have been beaten in battler suburbs on the rise, including St Albans and Sunshine North, as well as blue chip postcodes like Balwyn and Carlton North.

And a divine Collingwood church conversion not only became the most expensive house to change hands in the suburb, but of in all Melbourne’s inner north last week.

9 Knutsford St, Balwyn set a new suburb price record in June. Source: Supplied

 

Advantage Property Consulting director Frank Valentic said a flood of new records had been set in 2017, especially at the start of the year, reflecting the strength of Melbourne’s market.

“Some of the prices have been absolutely outstanding — well above reserve,” he said.

“There’ll continue to be some runaway results and we’ll keep seeing records, but there’s been a bit of a welcome slowdown for buyers since the underquoting laws changed.”

The Courtyard House at 6 Oxford St beat the Collingwood and inner north records for a single dwelling when it fetched an undisclosed figure between $5.8-$6.38 million last week.

CoreLogic records indicate the heavenly home’s seller, architect Ilana Kister, paid $2.505 million for the former church in 2012 — a record that had stood until the latest sale.

She then spent two years converting and extending it. 

Carlton North’s benchmark has been beaten twice this year, most recently by a $5.255 million five-bedroom house at 1032 Drummond St. The price was almost $2 million more than the previous record, set by 235 Amess St in May.

 
 
Carlton North’s price record has been beaten twice this year. Source: Supplied
 

Meanwhile, an original ‘50s weatherboard broke Sunshine North’s residential price record by the smallest of margins — $1000 — when it achieved $1.051 million in its first ever sale last weekend.

Six bidders competed at auction for the original weatherboard at 27 Northumberland Rd, which was built by the sellers’ father in the ‘50s.

A similar property in St Albans at 80 Alfrieda St soared to a benchmark $1.81 million in February, prompting Ray White St Albans director Shaun Marijanovic to declare the suburb was shaking its “bad reputation”.

A jawdropping house at 19 Panorama Way in Point Cook’s up-market Sanctuary Lakes estate also beat its own suburb record of $2.1 million when it sold again for $2.33 million this year.

In June, the historic home of Madman Entertainment co-founder Paul Wiegard obliterated Fitzroy’s price record by almost $900,000, selling for $4.9 million, as a modern marvel in Balwyn soared $860,000 past than its suburb’s previous top price to fetch $8.36 million.

 

RECORD BREAKERS

NORTH

6 Oxford St, Collingwood Source: Supplied

 

6 Oxford St, Collingwood

Sold for: an undisclosed price between $5.8-$6.38m in August

Previous record: 6 Oxford St, $2.505m in September 2012 (suburb) and 1032 Drummond St, Carlton North, $5.255m in June 2017 (region of inner-north)

 

Inside 1032 Drummond St, Carlton North Source: Supplied

1032 Drummond St, Carlton North

Sold for: $5.255m in June

Previous record: 235 Amess St, $3.45m in May 2017

 

43 Gore St, Fitzroy Source: Supplied

43 Gore St, Fitzroy

Sold for: $4.9m

Previous record: 17 Bell St, $4.011m in November 2016

 

35 The Grove, Coburg Source: Supplied

35 The Grove, Coburg

Sold for: $2.5m in April

Previous record: 23 The Grove, $2.2m in August 2015

 

70 Pinetree Cres, Lalor Source: Supplied

70 Pinetree Cres, Lalor

Sold for: $1.11m in June

Previous record: 29 Keane Cres, $1.1m in June 2017

 

10 Windermere Cres, Gladstone Park Source: Supplied

10 Windermere Cres, Gladstone Park

Sold for: $921,000 in May

Previous record: 9 Allenby Place, $820,000 in May 2017

 

SOUTH

17 Windoo St, Frankston North. Picture: Hamish Blair Source:News Corp Australia

 

17 Windoo St, Frankston North

Sold for: $611,000 in July

Previous record: 69 Armata Cres, $596,000 in April 2017

 

EAST

9 Knutsford St, Balwyn Source:Supplied

9 Knutsford St, Balwyn

Sold for: $8.36m in June

Previous record: 125 Yarrbat Ave, $7.5m in December 2015

 

16 Tower St, Surrey Hills Source: Supplied

16 Tower St, Surrey Hills

Sold for $5.655m in February

Previous record: 37 Middlesex Rd, $3.8m in December 2016

 

WEST

19 Panorama Way, Sanctuary Lakes Source: Supplied


19 Panorama Way, Point Cook

Sold for: $2.33m in March

Previous record: 19 Panorama Way, $2.1m in July 2015

 

80 Alfrieda St, St Albans Source: Supplied

80 Alfrieda St, St Albans

Sold for: $1.81m in February

Previous record: 21 Albert Cres, $1.1m in December 2016

 

27 Northumberland Rd, Sunshine North Source: Supplied

27 Northumberland Rd, Sunshine North

Sold for: $1.051m in August

Previous record: 32 Troon Cres, $1.05m in November 2016

 


This article was originally published by Samantha Landy on AUGUST 20, 2017 via Herald Sun

Sources: CoreLogic, real estate agents. For single residential dwellings, not including off-market or unreported sales

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