After more than five decades, the owner of 1 Ipydene Court, Chadstone, has sold their house.
A Chadstone house’s long-time owner was overjoyed when their home soared $230,000 above reserve to sell for $1.42m yesterday.
The three-bedroom abode went under the hammer with a $1.19m reserve, after being listed with a $1.1m-$1.2m range.
The Agency’s Steve Koutsantonis said he was expecting four bidders to show but six bidders actually turned up, hoping to secure the 1 Ipydene Court residence featuring a timber-fitted kitchen, man cave and studio with a bar adjoining the garage, and a covered barbecue area.
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A family claimed the keys, with the under bidder having flown in from South Australia for the auction.
“I think he was planning to move here, because people from interstate are seeing great value in Melbourne at the moment,” Mr Koutsantonis said.
The owner, who had lived for more than 55 years, was stoked by the sale.
Mr Koutsantonis added that although the Reserve Bank raised rates on Tuesday, homes priced at sub-$1m prices were still selling well, while those at the circa-$1.5m mark had slowed down somewhat.
The Chadstone home’s kitchen includes a breakfast bar and stainless-steel appliances.
The house is set on a 653sq m block.
In Melbourne’s north east, a three-bedroom house at 45A Curtain Rd, Hurstbridge, changed hands for $863,000, against a $820,000 reserve.
Ray White’s Peter Don said five bidders competed for the keys with a downsizer couple emerging as the successful purchasers.
Mr Don said he had noticed a recent shift in the market where buyers who had yet to sell their existing home were often reluctant to purchase a new abode.
Previously, the split between buyers had been about half having already sold up, with the other half waiting to list their current pad.
“I think with the rate rise and the cost of living, people are wanting to be very fixed on what they to pay for property,” Mr Don noted.
45A Curtain Road, Hurstbridge, sold for $863,000.
The house’s kitchen has 900mm cooking appliances set against a subway-tiled splashback.
Across to the city’s outer south east, a four-bedroom house at 4 Sittella Drive, Berwick, passed in for $1.27m on Saturday but later sold for $1.305m after negotiations with the highest bidder.
Barry Plant’s Chris Hill said the owners had built the home, brought up their family and were now downsizing within the local area.
“I think they’re excited to go on the next stage of their journey,” he added.
4 Sittella Drive, Berwick, was another success story at weekend auctions.
Two inner Melbourne homes also delivered solid results with a townhouse at 17 Waverley St, Richmond, selling for $1.165m.
BigginScott’s Andrew Crotty said four bidders wanted the two-bedroom residence, which he described as being located in a blue-chip pocket.
“The bidding started at $1m and it was announced on the market at $1.1m,” Mr Crotty said.
A young man, accompanied by his parents, bought the home.
The townhouse at 17 Waverley St, Richmond, features a bathroom with an open plan living and dining area, a sunken bath in the bathroom, a terrace and a European laundry.
In Flemington, a Victorian-era two-bedroom house fetched $925,000.
Three bidders, all young professionals, tried for the 1 John St residence which was placed on the market at $910,000.
Jellis Craig’s Zach Sianos said the buyer had been looking to purchase for roughly six months and was over the moon to finally secure a home.
Mr Sianos said many buyers were cautious at present because there could potentially be more rate raises later in 2026.
Ray White Victoria chief auctioneer Luke Banitsiotis says all eyes will be on the Australian government’s budget when it’s released next week.
Ray White Victoria chief auctioneer Luke Banitsiotis said that next week, many investors would be keenly awaiting the Australian government’s 2026-2027 budget which is set to be announced on Tuesday.
It’s been widely speculated that the government will alter Capital Gains Tax (CST) arrangements as part of the budget.
“Any movement around housing, taxation or cost of living relief will naturally influence confidence and decision-making,” Mr Banitsiotis said.
“For now, the message is clear: buyers are there. The opportunity is in giving them enough confidence to compete.”
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