The selling tactics of the homeowners of a modest Doncaster property have paid off. The property on Doncaster Rd, had been occupied by the owners for the last 30 years, and was initially valued pre-auction, at between $1,700,000 to $1,800,000. The owners however, wanted to put the property on the market at $1,650,000.
Mark Ribarsky says, “The auction for this property was slow to start. It took around 40 minutes, and 90 bids, but they reached the final sale price of $1,868,000! I believe the reason why it gained such competitive bidding was because of the 812sq m block, and the DD08 zoning, which allows developers more wiggle room with high density construction, and low restrictions.”
Mr. Ribarsky states, “The property prices in Doncaster have increased 2.4 per cent in the 12 months up until April 2017. The median is now $1,280,000. With such big blocks in the area, Doncaster, and the surrounding suburbs are a developers dream”