Real Estate

Camberwell, Box Hill North auctions: ‘berserk’ bidding in full bloom

Seven bidders have pushed a dated Camberwell house about $310,000 past reserve in an auction that “went berserk”.

Wakelin Property Advisory director Jarrod McCabe said the four-bedroom home at 20 Brinsley Rdfetched $2.41 million in front of a 100-strong crowd.

The figure is 25 times the $96,000 the property last sold for back in 1978, according to CoreLogic.

20 Brinsley Rd will likely be demolished following its sale.

Mr McCabe said the sale price was essentially “land value”, with most of the pool of buyers planning to level the 1960s-70s house to build a new residence on the 649sq m block.

Marshall White Boroondara’s Stephen Gough understood the winning bidder planned to retain the house in the short term before eventually rebuilding.

A major drawcard was the humble home’s position opposite Brinsley Reserve, surrounded by quality schools, and a short walk from Camberwell Junction and train station.

“You don’t get many opportunities to get this sort of land on a level, basically rectangular block,” Mr McCabe added.

20 Brinsley Rd sold for $2.41 million.

The house offered four bedrooms.

He said strong buyer interest had led to the property’s price guide being raised from $1.8-$1.98 million to $1.9-$2.05 million during the campaign. It was declared on the market about $2.1 million.

Mr McCabe expected results like this to spur more homeowners to list as the spring selling season progressed.

“We might see strong listing numbers leading up to December,” he said.

The Camberwell house occupied a 649sq m block.

2 Boyland Court, Box Hill North beat its reserve by $200,000.

In Box Hill North, a four-bedroom brick house listed for the first time in 45 years also attracted seven bidders to sell $200,000 above reserve, for $1.1 million.

Full Circle Property Advocates managing director Robert German said four siblings whose late parents had lived at 2 Boyland Court since it was built in 1974 were beneficiaries of the sale.

“The purchasers are a lovely young couple who plan to have a family here too. It’s a feel-good story,” he said.

Inside 2 Boyland Court.

More than 150 groups inspected the Box Hill North home.

More than 150 groups inspected the property during its auction campaign, and about 80 turned up for the auction.

“Interest rates are low, there’s an incredible shortage of stock, and people are starting to get a bit anxious because they’re not seeing stock coming on the market like it normally does in spring,” Mr German said.

Source: Camberwell, Box Hill North auctions: ‘berserk’ bidding in full bloom
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