Latest news with #SteveHatzi
Herald Sun
3 days ago
- Business
- Herald Sun
Buyer's plan after forking $2m on Mount Waverley home
10 Inverell Ave, Mount Waverley – for Herald Sun Real Estate A buyer has forked nearly $2m for s four-bedroom home in Mount Waverley, and plans to knock it down to build a single new family home. The sale of 10 Inverell Ave smashed its $1.6m reserve by more than $300,000, following a six-way bidding war that erupted under the hammer on Saturday, with the home eventually selling for $1.915m. Buxton Mount Waverley director Steve Hatzi said the property, with $1.5m-$1.65m price hopes, drew fierce competition from a mix of renovators and knockdown buyers, but it was land and location that ultimately won out. 'We had six active bidders and the energy didn't let up,' Mr Hatzi said. 'It started at $1.4m, and just when we thought it was slowing, someone else would jump in. 'We thought it was done at $1.68m, then it flew past $1.9m.' RELATED: RCA: Buyers circling Melb's forgotten cinema How Melb family's reno smashed record Overlooked VIC suburbs winning in 2025 Mr Hatzi said the buyer, who beat out five other contenders, won't be keeping the original Tasmanian oak floors or the Kent wood burner. 'They're knocking it down and building one brand new home — no plans to subdivide,' he said. 'It shows the premium families are paying for land in this school zone.' The Buxton Mount Waverley director said the 725sq m block is in the Mount Waverley Secondary College catchment and one of the last remaining original homes in a street otherwise filled with new builds. 'This pocket has already undergone a big transformation,' Mr Hatzi said. 'This sale was classic real estate, buying the worst house on the best street.' This family-sized block in the Mount Waverley Secondary College zone has sold for $300,000 over reserve. This four-bedroom Mount Waverley home attracted six fierce bidders. Despite the cosy period charm, the new buyer plans to knockdown and rebuild. Mr Hatzi said uhe vendor had owned the home for more than 45 years, and the sale reflects a growing trend of long-term residents downsizing across Melbourne's east — unlocking tightly held family housing. 'We're seeing more of this every week, owners who've been in their homes for decades are finally making a move,' he said. 'It's opening up opportunities in Mount Waverley where historically listings have been tight. 'It's not just about Mount Waverley Seconday College — it's the greenery, the peaceful streets, the connection to Glen Waverley and Burwood, and the lifestyle. That's what families are chasing.' Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox. MORE: Cricket great's former home hits market Metro Tunnel turns Shrine into hot property No more 'awkward conversations': wild rental crisis solution
News.com.au
3 days ago
- Business
- News.com.au
Buyer's plan after forking $2m on Mount Waverley home
A buyer has forked nearly $2m for s four-bedroom home in Mount Waverley, and plans to knock it down to build a single new family home. The sale of 10 Inverell Ave smashed its $1.6m reserve by more than $300,000, following a six-way bidding war that erupted under the hammer on Saturday, with the home eventually selling for $1.915m. Buxton Mount Waverley director Steve Hatzi said the property, with $1.5m-$1.65m price hopes, drew fierce competition from a mix of renovators and knockdown buyers, but it was land and location that ultimately won out. 'We had six active bidders and the energy didn't let up,' Mr Hatzi said. 'It started at $1.4m, and just when we thought it was slowing, someone else would jump in. 'We thought it was done at $1.68m, then it flew past $1.9m.' Mr Hatzi said the buyer, who beat out five other contenders, won't be keeping the original Tasmanian oak floors or the Kent wood burner. 'They're knocking it down and building one brand new home — no plans to subdivide,' he said. 'It shows the premium families are paying for land in this school zone.' The Buxton Mount Waverley director said the 725sq m block is in the Mount Waverley Secondary College catchment and one of the last remaining original homes in a street otherwise filled with new builds. 'This pocket has already undergone a big transformation,' Mr Hatzi said. 'This sale was classic real estate, buying the worst house on the best street.' Mr Hatzi said uhe vendor had owned the home for more than 45 years, and the sale reflects a growing trend of long-term residents downsizing across Melbourne's east — unlocking tightly held family housing. 'We're seeing more of this every week, owners who've been in their homes for decades are finally making a move,' he said. 'It's opening up opportunities in Mount Waverley where historically listings have been tight. 'It's not just about Mount Waverley Seconday College — it's the greenery, the peaceful streets, the connection to Glen Waverley and Burwood, and the lifestyle. That's what families are chasing.'
