Bidders jump out of blocks for Copnall Court, Glen Waverley, home as market starts spring racing

The four-bedroom properties, at 132A and 132B Wanda St, sold for $796,000 and $750,000 respectively.

Ray White Glen Waverley sales agent Marc Lum said 132A sold to downsizers who wanted something close to Monash, while 132B was snapped up by a young investor.

“We’re seeing a lot of young professionals buying in Mulgrave,” Mr Lum said.

“Lots of developers and builders are also coming in because of the location.

“Mulgrave is performing really well, with a profit margin of 20 per cent, and it’s five minutes from Glen Waverley.”

However, while demand was high in the area, stock levels were still very low, Mr Lum said.

“This demand will increase for sure, and if we have more quality stock coming up, prices will increase,” he said.

SUBURB PROFILE: GLEN WAVERLEY

Mr Lum’s colleague, Anna Du, notched an almost $2 million deal on September 3.

The Glen Waverley property sold for $1.925 million to a woman who now plans to build her dream home on the 721sq m block.

Ms Du said there were three bidders at the auction of 30 Fernhill St.

“The house was on the market at $1.8 million,” Ms Du said.

“The buyer had missed out on other properties and she is now going to build a property for herself on the site.

“The location is excellent and the land has wide frontage.”

The three-bedroom, single-level, brick home was also in the Glen Waverley Secondary College zone.

SWIFT SALE

ANOTHER Glen Waverley home experienced a top auction sale on September 3.

The $1.36 million sale of 11 Copnal Court was the result of fast and furious bidding by four keen buyers.

Harcourts Mt Waverley director Sue Kelly-Brown said the bidders “jumped out of the blocks and away they went”.

The single-level, four-bedroom home, on 652sq m, eventually sold to a local Chinese family.

“It was a really good, fast-bidding auction and the (result) was absolutely above reserve,” Ms Kelly-Brown said.

“The house was appealing as it fell into both school zones (Glen Waverley Secondary College and Mount View Primary), and it was walking distance to the kinder.”

Ms Kelly-Brown said the vendors were thrilled with the auction’s outcome.

“It was originally a family home, but had been an investment for 10 years,” she said.

BIDDERS BATTLE

A BUYER’S advocate opened up an intense round of bidding at a Hughesdale auction, with five people putting up their hands for the california bungalow.

Woodards Oakleigh’s Clare Rocke said the bidding for 18 Paget St started at $1.15 million in front of a crowd of about 100 people.

“In two bids, it was past the reserve of $1.2 million, and after that, they took it all the way, with two bidders fighting it out to the end,” Ms Rocke said.

The two-bedroom home, on 737sq m, was snapped up by a couple who plan to hold on to it for awhile, according to Ms Rocke.

“There is the potential that they will pass it on to their sons,” she said.

SUBURB PROFILE: HUGHESDALE