Highett Property Exceeds Expectations

If the results of a Highett auction are anything to go by, bayside properties will draw in the crowds. The three-bedroom townhouse in Jillian Ave, which was quoted at between $850,000 to $920,000, ended up selling for $1,020,000.

With a reserve of $920,000 the property exceeded expectations by $100,000. The property was ultimately nabbed by an investor, who is expected to hold onto the property and sell it off in the future.

 

The lack of properties on the market in Highett, and surrounding suburbs like Cheltenham, Moorabin, Black Rock, Beaumaris and Heatherton is likely causing people to bid beyond their capacity, as they are desperate to get their hands on a property.

By Mark Ribarsky

 


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