AFL star Dane Swan's $970,000 auction victory as the nation's clearance rate leaps to a seven-month high
Retired AFL star Dane Swan sold his Melbourne investment property for $970,000 at auction on Saturday.
Four bidders went head-to-head for the two-bedroom home at 74 Coronation Street in Kingsville, that had a price guide of $800,000 to $850,000.
According to Pricefinder, Swan purchased the property 14 years ago for $245,000, earning himself a profit of $725,000.
The abode is the first home the 2010 Collingwood premiership player bought during his footy career. Swan had kept it as an investment property after moving out.
74 Coronation Street, Kingsville, VIC
Listed by Hunter French and represented by agent Saade Ghazi, the Edwardian-style home has undergone a renovation over the years.
Interiors are light-filled and spacious with pine floorboards, high ceilings and a neutral colour palette.
A decent-sized kitchen with wooden cabinetry leads out to a terrace that’s ideal for entertaining.
The bedrooms contain plush carpet and feature walls, and the bathroom has a touch of flair in the form of wood-paneled walls.
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Swan, 38, announced his retirement in 2016. He’s not only a premiership star and a champion of the club, but also won the 2011 Brownlow Medal.
The auction win comes as the nation’s clearance rate leaps to a seven-month high, indicating the market is growing more balanced as prices continue to decline.
October’s 61 per cent clearance rate for the combined capital cities was further evidence of an improving collegiate nature between buyers and sellers, who are increasingly meeting on price expectations and cushioning the clearance rate.
The clearance rate has been in recovery mode as the market finds a new harmony – in June, clearance rates around Australia were at their lowest level in two years, hovering 53 per cent.
However, in October, every capital with the exception of Brisbane (at 44.5 per cent) recorded a clearance rate of more than 60 per cent.
In Melbourne, the clearance rate bounced to its highest since April, to reach 61.4 per cent, which also marked the third month in a row of a rate more than 55 per cent.
Five properties in Kingsville, Melbourne, for sale
25 Queensville Street
2/63 Edgar Street
222 Somerville Road
10 Chatfield Street
17 Empress Avenue
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