End of an era as Richmond’s ‘blue house’ sells for $1.68 million under the hammer
A home affectionately known as Richmond’s “blue house” sold under the hammer on Saturday for $1.68 million, ending a long and colourful era in the inner-city suburb.
The three-bedroom home at 21 Griffiths Street, originally painted the unique hue in the 1980s, will be torn down by the new, local owners, who plan to build a new home on the block.
It was one of 730 auctions scheduled in Melbourne on Saturday. By evening, Domain Group recorded a preliminary clearance rate of 60.7 per cent from 532 reported results, while 56 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
Three bidders competed for the Richmond home, opening at $1.55 million. The home was announced on the market at $1.62 million, and sold just below the top end of the asking price range of $1.7 million.
Jellis Craig Richmond director and auctioneer Elliot Gill said it was a bittersweet sale, as the home had been owned by the same family for 51 years and was sold as part of a deceased estate.
The family had joked their parents had painted the home bright blue after getting a good deal from the paint shop, and though it was not everyone’s cup of tea, it had become a local landmark, Gill said.
“Everyone knows the blue house,” he said. “It was a really big day for the family, they grew up there … but they were really excited that it sold.”
Agents said the market was returning to a normal rhythm, as buyers adjust to the pace of interest rate rises and renovated family homes attract competitive bidding.
/http%3A%2F%2Fprod.static9.net.au%2Ffs%2F5c80090b-d9c7-4bb8-ac52-8c8a05596c9d)
In North Melbourne, a renovated three-bedroom family home at 94 Howard Street sold for $1.51 million – above the $1.36 million to $1.46 million guide – after five bidders competed.
An investor won, though they had plans to downsize to the home later.
Abercromby’s Real Estate agent and auctioneer Simon Curtain said the vendors, who had owned the home for about 27 years, were looking to downsize to a single-level home.
“It really felt like a normal auction, and from the start of the campaign we had 60 groups through the property … and five bidders which is what we would normally expect,” Curtain said.
While buyer demand was positive, he said vendors were hesitant to list with more interest rate rises and the high cost of living in the news, he said.
“It would be good for vendors to take confidence in these types of results,” he said.
Two more family homes sold well in Maribyrnong, after multiple bidders competed.
A four-bedroom home, built 14 years ago, at 37 Pridham Street, sold under the hammer for $1.51 million after four bidders battled it out.
An opening bid of $1.4 million sparked competition and offers flew to meet the sale price quickly, Barry Plant Keilor partner Paul Filippone said.
The buyers, a local family, were taking advantage of lower prices to upgrade their current home, like many other buyers, Filippone said.
“There’s a general feeling that the worst is over, and we’re making those conclusions from the number of people at open for inspections,” he said. “I think people are becoming accustomed to it as there are some more interest rate rises – they are just getting on with their lives.”
Another three-bedroom family home, at 27 Hillside Crescent in Maribyrnong sold for $1.1 million when two bidders competed.
The buyers, a couple who are downsizing, were the winning bidders, wanting to be close to the Maribyrnong River walking trails and to the local shopping centre.
Biggin & Scott Maribyrnong director Mark Basilone said properties were selling as long as vendors understood the market was changing, and they would not get the same prices as earlier in the year.
“I’ve been in real estate for 23 years and as long as vendors understand what’s happening, and set their reserve price accordingly, things will sell well,” Basilone said.
In Kew, one of the biggest results of the weekend was a three-bedroom cliff top home, close to the Yarra River, that sold under the hammer for $5.1 million – well above the $3.5 million reserve.
A crowd of 80 gathered to watch the sale of 8 Rockingham Close, and bidding opened at $3 million.
Fierce competition from four bidders raised the price to $5.05 million, before a final $50,000 offer sealed the deal for the buyer, a local downsizer.
Kay & Burton Hawthorn director Scott Patterson said the home, built in 1979, and remained in original condition, was the type of property that rarely sold.
“It was a very unique offering, a rare property because it was on the cliff and the home allowed people to downsize, renovate or rebuild or even extend it for a family,” he said.
In Tullamarine, another uncommon offering at 189 Melrose Drive, sold for $1.317 million when four potential buyers fought it out.
The home on more than 1000 square metres of land sold above its $880,000 to $920,000 price range.
Ray White Gladstone Park selling agent Dom Zampaglione said the buyer, a developer, has plans to build on the large block.
“There are still some good buyers out and about,” Zampaglione said. “Something like this doesn’t come up often, especially in Tullamarine.”
The vendor, who is turning 100 in a couple of weeks, had lived in the home until just four weeks ago, and was thrilled with the sale, he said.
We recommend
States
Capital Cities
Capital Cities - Rentals
Popular Areas
Allhomes
More
