Wes Mountain is a property reporter at The Age.
The vendors were thrilled with the result for the three-bedroom home, while the buyer is looking to build townhouses.
Some of Australia’s wealthiest people have lived in the same homes, in some of the country’s richest areas, for several decades.
The well-located corner block property sold in post-auction negotiations on Saturday for its reserve, as buyer confidence wanes. The vendor will stay in the suburb.
Property prices are falling and homes are passing in at auction, but buyers who aren’t ready to capitalise risk missing out.
The drivers of rental return and capital growth can work at cross-purposes, but experts say rental income may come to the fore now.
It was marketed as a “side hustle” to rent out the spare room, but new data shows more than half the listings with one major platform are managed by accounts with two or more properties.
Property investors are considering their plans after tax changes in the budget, but some options have a mixed record.
Street art collectors Sandra Powell and Andrew King are selling their St Kilda home, which hosts just some of the 3000 pieces in their collection.
A couple bought a mixed-use home with space for a small business, but a rival’s large bid meant they nearly missed out.
Years of ideal lending conditions and wages failing to keep up with house price growth have brought seismic change to the market.