Large homes on big blocks are smashing auction records in Melbourne’s outer north.
Each of the three most expensive houses sold in both Hume and Whittlesea in the past year had more than four bedrooms and were on allotments of at least 1100 square metres.
Real Estate Institute of Victoria chief executive Enzo Raimondo said well-built, luxurious homes in the outer north were bucking trends for what is considered one of Melbourne’s most affordable property markets.
“While Hume and Whittlesea contain some of Melbourne’s most affordable suburbs, high- quality homes on larger blocks are attracting prices well above the median for the suburbs in these areas,” Mr Raimondo said.
The top sale in Whittlesea in the past 12 months to mid-September was a six-bedroom house in Manna Way, Mill Park, which sold for $1.36 million in February.
Ray White Mill Park’s John Damaskopoulos said the property sold for about $260,000 above the reserve and was bought by a family with older children.
“It’s unique for the area; it’s a very glamorous house,” he said. “It kicked off the market in this area and broke the house price record in Mill Park.”
In Whittlesea, the second and third most expensive homes sold were a six-bedroom house at 48 Cameron Way, Bundoora, which went for $1.125 million in June, and a five-bedroom house on Yea Road, Humevale, which sold for $1.1 million in April.
A four-bedroom house that sold for $1.4 million in March holds the record this year for the most expensive sale in Hume.
The house, at 12 Cameron Court, sits on about 1330 square metres and was sold at auction for more than $125,000 above the reserve.
Mr Raimondo said houses in the outer suburbs were usually sold privately, but auctions were gaining popularity due to an increasing demand for larger homes.
For more outer north property information, visit Domain
