Renovated period house featured in Vogue Living hits the market for less than $830,000 in Melbourne

Let’s play a quick guessing game.

How much would you expect to pay for a newly renovated, two-bedroom period home less than 10 kilometres from Melbourne’s CBD?

How much extra would you pay knowing it was featured in Vogue Living where only the creme de la creme of Australian interiors get published?

New data from Domain’s House Price Report lists Melbourne’s median house price as $1,039,460 – so anything over $1 million would be a fair guess – but you’d be wrong.

The reality? A lot less.

A two-bedroom, newly renovated home previously featured in Vogue Living has just been listed with a price range of $770,000 to $830,000.

The period home located in Melbourne’s inner west suburb of Maribyrnong, where the median house price is $1,020,000, has got buyers hopeful and looking to snatch a blink-and-you’ll-miss-it deal.

THE DEAL: $770K - $830K

1/141 Raleigh Road, Maribyrnong VIC 3032

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The owners of the home were first-time renovators, and restoring the property unlocked a passion. Now, they are selling with the intention of doing it all again.

Paddy Tilli of Whitefox is not surprised by the interest in the turnkey home.

“It’s value for money against inner city suburbs that surround it, like you go to Ascot Vale or Moonee Ponds for example, and you’re going to be talking over a million dollars for this,” he says of a home of this size and condition.

The median house price is $1.25 million in Ascot Vale and $1.42 million in Moonee Ponds.

So, why the comparatively affordable price tag?

The home is on a subdivided block with another property at the rear (sans body corporate fees, Tilli confirms). The property is also positioned on a busy road, but this hasn’t deterred prospective buyers ahead of its early February auction.

Tilli mentions the property’s low maintenance slick interiors, modern amenities and newly landscaped courtyard have all been open-house wins but also its central location in Maribyrnong.

“[Maribyrnong] performed better through the course of last year compared to other suburbs,” he says of the local area, which joined the million-dollar-median-house-price club for the first time in the September quarter last year.

“There’s the Maribyrnong River, walking trails, public transport, Highpoint, cafes and it’s less than 10 kilometres from the CBD,” says Tilli.