Auction success rate eases but the Cordner family easily get their Greensborough goal
The Greensborough home with a very long association with the Cordner medical family – and their Melbourne Football Club representation – sold for $1.3 million at its weekend auction.
Ashmead was built for the Cordner family in 1932 and has been held in the family for 80 years. It was designed in the inter-war English Domestic Revival style – rendered, gabled terracotta tiled roofs, half timbering, shuttered multi-paned windows, tall brick chimneys with terracotta chimney pots and basketweave clinker brickwork.
There were two bidders once the Jellis Craig auction got underway, with a $950,000 opening vendor bid. The property was called on the market at around $1.2 million.
Jellis Craig agent Liz Walker noted an intending developer had been outbid by the new owner who was in Greece, where he spends part of every year.
It's been reported the buyer will modernise the house's floorplan and may build a house for his mother at the rear of the 1,834-square-metre block.
The house and its Monterey Cypress hedge were protected from development, although the house's views had been interrupted by the new Banyule pool complex across Grimshaw Street.
Melbourne's auction success rate fell from 56% to 55%, according to the Real Estate Institute of Victoria, below the year to date clearance rate of 60%.
Enzo Raimondo, the REIV chief, notes while the overall Melbourne clearance outcome was below trend many auctions had competitive bidding with results over reserve.
"This highlights that homes are selling well when vendors' expectations are in line with the market," he says.
Sydney clearance rates fell from 64.9% to 59.4% this week, according to Australian Property Monitors (APM) figures.
Strathfield recorded the top weekend sale – a five-bedroom house on Barker Road sold through Georges Ellis & Co – which respresented the third time in the past month that the suburb had the highest reported Saturday auction result.
In the same week last year Sydney had a rate of 57% and Melbourne 55%.
