Auction pushes Wheelers Hill unit to $813k sale
The single-level home at 1/187 Jells Rd sold under the hammer for $813,000, with bidding quickly climbing above the listing's quoted range of $770,000-$810,000.
Auctioneer Robert Cincotta took fast-paced offers from four competing buyers before selling under the hammer to an older couple, whose daughter helped them secure the keys.
Tragic side of Aus housing crisis exposed
Ray White Ferntree Gully's Cristine Jones said she had a lot of young families and downsizers throughout the campaign.
'It was the buyers' daughter who helped them bid,' Ms Jones said.
'It turned out I'd actually sold a home to her previously, so they knew the area well and wanted to be close.'
Set at the front of a boutique complex, the home offered a 268sq m block with an oversized covered deck, grassed yard and ceiling fan, features that made it stand out from most units in the area.
The home had last sold in December 2020, and while the capital gain was modest, Saturday's auction drew a strong crowd and signalled continued momentum in Melbourne's southeast.
Seller Warren Taylor, who also sold a previous home with the Ms Jones, said the result was 'very, very pleasing'.
'I enjoyed the access to all the facilities, it's opposite the shopping centre and the library. Everything's within walking distance,' Mr Taylor said.
'We're thrilled with how it all went.'
Inside, the home included an updated kitchen with stone benchtops and Miele appliances, polished timber floors, ducted heating, refrigerated cooling and a single-car garage with internal access.
The result adds to a string of solid winter sales in Melbourne's southeast, as buyers move early ahead of a widely anticipated rate cut next week.
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News.com.au
2 hours ago
- News.com.au
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Daily Telegraph
2 hours ago
- Daily Telegraph
National Housing Accord 60,000 new homes short in first year
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Oxford Economics Australia lead economist Maree Kilroy said while they were now revising their forecasts for housing construction upward, they were not expecting the target to be reached by 2029. Ms Kilroy said improvements in apartment approvals in NSW and Victoria, as well as a lift in house approvals in Victoria were positive signs, 'but nothing you would right home about'. 'We are at the beginning of an upturn, and we would expect that the approval figures per state will pick up, particularly for housing as interest rates flow through,' she said. 'But it's still really muted for housing at the moment.' The economist added that it's likely numbers aren't accelerating more rapidly at least in part because the cost of building homes continues to rise, rising to $513,000 for the typical house around the country in May. Institute of Public Affairs research director Morgan Begg said they believed the National Housing Accord would come up 55,300 new homes short in its first year. 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News.com.au
2 hours ago
- News.com.au
Banks all sing from same hymn sheet on RBA rate cut
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