VIC Glen Iris gone nuts?

Discussion in 'Where to Buy' started by ATANG, 22nd Mar, 2017.

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  1. ATANG

    ATANG Well-Known Member

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    Found out one of the townhouses there sold for 1.5m.... even it's got an advertised price tag of $1.1m. Seriously, someone is going to lose a lot of money in the coming years....?
     
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  2. willister

    willister Well-Known Member

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    What size was the land? How old was the building? If fairly new and about 400m2 I wouldn't say it's that expensive.
     
  3. dave80

    dave80 Well-Known Member

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    Also varies whether Stonnington or Boroondara side, certainly unusual for a suburb to share two different councils
     
  4. JDP1

    JDP1 Well-Known Member

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    I wouldn't say they will lose a very big amount, but they will feel the pinch when the cycle turns - unless they have brics money.
     
  5. The Y-man

    The Y-man Moderator Staff Member

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    So is this thread about the price the unit sold for, or the fact there was a potentially serious under-quote?

    The Y-man
     
  6. ATANG

    ATANG Well-Known Member

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    Don't think it's underquote. Next door was sold last year at 1.1m. I think some people just gone depressed and wanted it so badly. It's a four bedders, two storeys, with all bedrooms downstair, and kitchen and living upstair. It's just right next to Gardiner station. Land size is less than 200sqm.

    Definitely not worth 1.5m. You could buy a house in Glen with that price or 100k more.
     
  7. willister

    willister Well-Known Member

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    If that is an upside down house plan, there must be a view of some sort? 1.5mil for 200m2 that's 7,500 per square meter, it does sound nuts. An average house these days is probably around 1.5 to 2 mil for a 700m2 block in Glen Waverley...I've never really seen anything above 2,000 for a m2 in Glenny.

    Is it a new or near newish building?
     
  8. ATANG

    ATANG Well-Known Member

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    About 4 years old i believe.... Its very nicely built, very modern and lots of natural lights, but still.... it's a townhouse.....lol

    No view, besides overlooking the highway and ashburton area. You actually can hear the traffic sound so badly if you open the sliding door in living.
     
  9. alicudi

    alicudi Well-Known Member

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    Hi

    Excuse my ignorance, which is better?

    Regards,

    alicudi
     
  10. willister

    willister Well-Known Member

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    I'd say Boorondara with all those poshy suburbs.
     
  11. melbournian

    melbournian Well-Known Member

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    why do you think it's not? suburbs like aberfeldie townhouses can sell close to 1.7 - 2 million, and some in balywn 2 bedroom 70-80s single level villa can sell 1 mil.

    Glen iris has always been a premium suburb.
     
  12. supersam80

    supersam80 Well-Known Member

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    Glen Iris not Glen Waverley :) big difference
     
  13. dave80

    dave80 Well-Known Member

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    my opinion only - stonnington.

    toorak, armadale, kooyong, malvern, south yarra, malvern east, prahran, windsor, glen iris - all highly affluent and desirable suburbs. local council not afraid to spend money on infrastructure nor resume expensive homes to make way for public parks.
     
  14. The Y-man

    The Y-man Moderator Staff Member

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  15. ATANG

    ATANG Well-Known Member

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  16. melbournian

    melbournian Well-Known Member

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    1.5 million for 700sqm? I'll buy it again many parts to glen Waverley

    Check 1/32 bogong avenue that was 1.42 mil for 375sqm old low level villa
     
  17. The Y-man

    The Y-man Moderator Staff Member

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  18. Omnidragon

    Omnidragon Well-Known Member

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    My friend bought a 700sqm nice house there for $1.2m in 2015 haha. He said his neighbour just sold $2.6m
     
  19. willister

    willister Well-Known Member

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    IMHO, No. Added to this, it seems like one of those shared driveways with access to at least 15 units? AND it's buttressing the train line.....
     

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