The sale of a multi-million dollar home in the Melbourne suburb of Sandringham, sold in just one week, has been a highlight in the state's otherwise moribund property market.
Marc Elliott, principal of Harcourts Sandringham, oversaw the sale of 45 Victoria Street – a five bedroom, four bathroom property just a few streets away from the beach.
“The property was sold within a week of being on the market at an undisclosed multi-million dollar figure,” Mr Elliott said.
The sale came as the National Australia Bank Quarterly Australian Residential Property Index recorded a 2.4 per cent fall in house prices in Victoria during the June quarter.
“There were a few interested parties wishing to buy the property which we contribute to having a comprehensive marketing programme featuring half page, full page and double-page ad spreads in the Age [newspaper], the Melbourne Weekly Bayside and other Melbourne publications,” he said.
Harcourts reported that the 593 square metres of living space featured five bedrooms, four bathrooms plus a powder room, study, children’s retreat, formal lounge/dining with Egyptian marble fire place, large designer kitchen with marble bench tops, open plan living and dining space which opens out to a covered alfresco entertainment area, cabana, swimming pool, landscaped gardens and a four car garage.
“Sandringham is regarded as one of the Bayside’s most prestigious suburbs given its close proximity to some of Melbourne’s finest private schools, beaches, parks, Sandringham Village and public transport options. It is rare that a property of this calibre comes on the market,” Mr Elliott said.