VIC Some Big Numbers for Reservoir/Preston

Discussion in 'Where to Buy' started by MTR, 24th Apr, 2017.

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  1. MTR

    MTR Well-Known Member

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    Have a look at these auction results for Reservoir/Preston

    Auction Results Melbourne - Property Prices & Sales Results in suburbs beginning with R | propertyDATA.com.au

    I was looking at buying development site in 2013 and it was very hot at this time.

    Its quite scary at the moment in particular development sites, if end values of townhouses don't continue to rise it just wont make any sense. I always thought it was a little out of whack when I was looking...

    I notice lots of underquoting, who would have guessed.
     
    MTR, 24th Apr, 2017
    #1
  2. melbournian

    melbournian Well-Known Member

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    2.3 Million for 464sqm in Preston???

    There are rising (some like going off the shelf now for 700-800K in reservoir and preston) Also went to this auction double block. Fought out between group of Chinese and Group of trades

    84-86 Howard Street Reservoir Vic 3073 -
    1.91 million
    84-86 Howard Street Reservoir Vic 3073 - House for Sale #125072962 - realestate.com.au

    These Chinese guys were like probably in their 20s. bidding slowly. Actually they could have won it but they kept discussing among themselves and before putting in a bid it was sold.

    upload_2017-4-24_11-8-41.png

    and the eventual winners in group of trades in orange

    upload_2017-4-24_11-9-17.png
     
    melbournian, 24th Apr, 2017
    #2
    Big Will and MTR like this.
  3. MTR

    MTR Well-Known Member

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    Amazing, thanks
    I have never been to a Melb auction, always had others bidding for me. Next buy in Melb I am going to be there, seems like a real buzz.
     
    MTR, 24th Apr, 2017
    #3
  4. Big Will

    Big Will Well-Known Member

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    Bit of a different kitchen inside

    upload_2017-4-24_15-22-36.png
     
    Big Will, 24th Apr, 2017
    #4
  5. Big Will

    Big Will Well-Known Member

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    I know it is a development site and some money is better than nothing but if you were going to B&H that is a 1.48% yield... Ouch.
     
    Big Will, 24th Apr, 2017
    #5
    MTR likes this.
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