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7/38 Diosma Rd, Nunawading, sold for $1.1m.
The first home to be sold from a Nunawading family compound has smashed expectations by $150,000 last week.
One of seven homes built by a pair of loving parents, who wanted to give their kids a chance to move out but stay close to home, had been expected to make $880,000-$950,000 under the hammer.
But with the well-maintained group and friendly family vibe, the result for 7/38 Diosma Cres soared to $1.1m. Ray White Forest Hill’s Pierre Mastromanno said it was “unbelievable”.
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“There were about 100 people there, with nine bidders and it had a great atmosphere,” Mr Mastromanno said.
Offers started at $800,000 and the home was on the market at $950,000, but the hammer didn’t come down until $1.1m.
The home sold to a woman who plans to downsize into it, with the friendly atmosphere inspired by having so many people from the same family in the wider complex seen as a plus for many buyers.
The 7/38 Diosma Rd, Nunawading, home’s immaculate interiors helped win over buyers.
“It was built by the mum and dad, and a few of their kids and their families have lived there as well,” Mr Mastromanno said.
With the rest of the family still living at the complex, and a few homes rented out, the entire group are all kept in good repair — which he said buyers were willing to pay a premium for today.
Despite selling out of the family estate, the vendor will stay nearby.
Meanwhile in Hillside, a remarkable $2.25m auction soared $400,000 past its reserve as six bidders fought for 8 Stillia Court.
8 Stillia Court, Hillside, sold $400,000 above its reserve.
Barry Plant Taylors Lakes agent Michael Costa said the offers started at a “cheeky” $1.2m, but the price rose to $1.75m in the next two bids — and hit the $1.85m reserve shortly after.
“We have had a couple of big results, but never at that level,” Mr Costa said.
“It was always going to perform well, though we didn’t think it was going to go to that level. But it was a beautiful house, a great package for a family.”
A local builder with a family purchased the home.
With three other homes sold under the hammer as the office hit a 100 per cent clearance rate over the weekend, he said the market was showing no sign of slowing down — though low supply might be helping sellers get results.
Big homes with room for a family to spread out and entertain in are in short supply.
Across Victoria the clearance rate reached 66 per cent based on 570 results, according to realestate.com.au figures. There were 794 scheduled to go under the hammer last week, with 895 expected this week.
In Ringwood East, a first-home buyer snared the keys to a two-bedroom unit for $655,000 on the weekend. They bested two others hoping to enter the market as the 2/66 Mt Dandenong Rd home sold $30,000 above its reserve.
And the agent behind the sale thinks that with a growing number of investors looking for similar homes, people looking to upsize from their first unit to a house are well placed.
2/66 Mt Dandenong Rd, Ringwood East, sold $30,000 above its reserve.
Noel Jones’ Mike Wang, recently named the agency’s runner up most Outstanding Salesperson 2021-2022, said there was a “very strong” first-home buyer market in the area even though the wider market was “not as strong as before”. “So there’s a good chance to upsize in this market,” Mr Wang said.
He noted that as spring took over he expected to see more and more vendors listing homes, and a growing use of social media to promote homes for sale, from Facebook to TikTok and WeChat.
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