Knoxfield lakeside home rises more than $1 million between sales
A LAKE-front position has helped 50 Applewood Drive, Knoxfield, achieve a $1.385 million sale price.
The price achieved in front of a large Sunday auction crowd on November 6 exceeded the expectations of the seller and agent.
It was a benchmark price for a house on a normal sized block in the small, tightly held suburb, Barry Plant Wantirna agent and auctioneer Daniel Cripps said.
It eclipsed the previous top figure for an allotment under 1000sq m set at $1.023 million by 27 Watersedge Close last year.
The vendors had bought the Applewood Drive home in 1999 for just $299,000, Mr Cripps said, which meant it had risen $1.086 million over the period.
“The Lakewood estate house faced the lake and the main attraction for the more than 100 groups that came through were the lake views,” he noted.
The auction had six buyers and began with an $800,000 bid for the five-bedroom house. It then rose by $50,000 increments.
“The buyers were a young couple from Glen Waverley who fell in love with the house. Buyer interest was at $1.2 million and we were confident of a strong price because there are not any similar properties here,” Mr Cripps said.
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