Bayside property sparkles.
Property Mavens proudly makes its home in Melbourne’s inner bayside so we thought it would be a good idea to take a look at what’s happening locally.
While other areas are capturing the limelight this year, be in no doubt Bayside is performing well for investors and homeowners alike.
Consider AFL Essendon great and 7 Network sports commentor, Tim Watson.
He and his wife recently sold their charming three-bedroom house at Dundas Place online for an undisclosed figure in excess of their $3 million - $3.3 million price range.
That books the Watson’s a million dollar plus gain on a home they paid $2,172,500 for in 2014.
Similarly, the owners of this Victorian terrace in Kerferd Road, Albert Park made a cool $700,000 gain after buying their home just two years ago.
The house was bought after a beautiful makeover by developer Mark Mercuri (also of Essendon fame) for $2.97 million in 2019, but sold recently for $3.67 million online after the couple needed to return to Sydney.
For those with a more modest budget, there is good buying to be had. Some recent sales will give us a picture of what is available.
$660,000 bought this ground floor 2 bed apartment in an art deco style block of six in Sycamore grove, Balaclava.
In Vale Street St Kilda, $550,000 bought this spacious, ground-floor one bed apartment with a private courtyard.
It is one of only four in a well located, warehouse-style complex.
It’s important to note, my team hasn’t vetted these two properties to see if they are investment grade.
But it demonstrates that investors or ambitious home buyers can find good property in the Bayside region with budgets starting from around $700,000.
If you need help buying a home or investment property or would like to know how to capitalise on Bayside growth, feel free to get in contact with my office for an appointment.
Miriam Sandkuhler.
Property Prosperity
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