Million-dollar sales keep Knox market hot

A FARMHOUSE-style Wantirna home held by a family for almost a century has sold for $250,000 more than its reserve price.

One of 10 Knox properties that sold at auction over the weekend of May 9, the house at 45 Barmah Drive East changed hands for $1.654 million.

The 2349sq m property was part of a huge 10ha landholding owned by the Newell family since 1919.

Carter Real Estate agent Tony Talarico said the strong interest in the rare block with development potential pushed up the price.

A crowd of 150 watched four bidders, with the winning bid from a North Balywn family who intend to move into the area.

"The buyer will keep the property for a while and maybe develop it later," Mr Talarico said.

"There was interest from developers and owner-occupiers."

"We are seeing buyers pushing out to the outer suburbs because properties are more affordable."

Knox recorded a sky-high auction clearance rate of 93 per cent from 15 auctions, with one property passed in and four sold before auction.

The next highest sale for the week was also in Wantirna, with 113 Harold St selling for $1.1 million and the property offering investors sub-letting potential.

The double-storey residence had space for in-law or teenage accommodation or for tenants.

Barry Plant Wantirna director Brendan Murphy said five bidders were at the auction with the reserve set at $1 million.

"A local family that was looking to upgrade and who had missed out on three properties earlier managed to place the highest bid." he said.

The home had been owned by the same family for 30 years and had a huge downstairs area with a garage and workshop plus a rumpus room, bedroom, bathroom, second kitchen and meals area.

HERITAGE STATUS

A FORMER Boronia chapel built by German Templers as a gathering place in 1957 is on the market.

The owners of the three-bedroom house at 3 Wadi St have adapted the old hall to make it an entertainer’s retreat.

A highlight is the single-lane bowling alley. It also features generous living zones, a stunning kitchen, a spacious lounge and dining room, a family room, a veranda plus large bedrooms.

The former stage area has been retained and is suited as an open study or home theatre. The hall was added to the Victorian Heritage Register in 2003.

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