VIC Glen Waverley - 1538sqm for $6mill

There will be some happy vendors after this auction today! Glen Waverley still climbing!

I'm guessing this was another sale price for the record books.

www.realestate.com.au/120299485

 

On the house it was sold back in April for $4.71 mil...

$1.3 mil in 4 months?!

 

RP data also has it for $4.71m - anyone go the auction? every block around the centre will copy this, GW will look like box hill in 5 years for sure...

• Sale Price: $4,710,000
• Sale Date: 22 Apr 2015
• Settlement Date: 19 Jun 2015
• Sale Type: Unknown
• Sold By: Barry Plant - Monash

• Land Use 1: Detached Dwelling

 

There is a new residential zoning for this property. That's probably why it goes up $1.3m in 4 months. However, I don't think the zoning is finalised yet and there is a risk for the new buyer.

http://www.newresidentialzonesmonash.com.au/new-residential-zones#property-report

 

That's one hell of a profit. Over 25% in a few months.

 

It's a development site. It's not real estate news it's business. After reading the article it alludes to the median house prices in the area. Sales like this shouldn't be included in the median as punters will think this is typical and is a misleading use of sales stats.

Could say the same about yesterday's auction at 562Willoughby Rd Willoughby $4m for 658m2 4x1 bed apartments. FSR of 2:1

https://m.realestate.com.au/property-unitblock-nsw-willoughby-120330765

 

Reported median prices is a joke at times!!

 

This is one of the less-reported aspects of property prices now.

Sooo many properties are being sold with a premium attached due to the townhouse development potential...the traditional one house on a quarter acre block is gone.

That';s why so many places have become unaffordable to the average person now..

Even down my way, where it is not necessary to have higher density living; almost every property sold which has townhouse zoning is being sold for obscene dollars....the house on the land is basically an impediment to the next buyer.

 

http://www.domain.com.au/news/recor...-day-for-the-past-two-months-20150822-gj5ec9/

 

It does have the asian food precinct remember.

Better hope they don't change their Lemon Chicken recipe or the whole area might go bust.

 

Asian people dont eat lemon chicken, its is the epitome of asian food for westerners

 

The next things you'll tell me is that you can't get Singapore noodles in Singapore or spaghetti bolognese in italy or garlic bread in Venice.

 

I tried ordering Chicken Laksa in Singapore but they don't sell that. They don't have such thing as Singapore noodles in Singapore. Hmm... honey and lemon chicken... yumz.

 

Hmm, some councillor trying to copy that dodgy guy from Auburn?

 

Old style Aussie Chinese is the best, craptacular!

 

Hahaha dont forget creamy carbonara with chicken and mushroom etc.

Damn you whitefellas for desecrating all of the world's food

 

Me? White? @sanj

 

Just stay clear of Raramen

 

Lol

 

Or that spaghetti marinara doesn't have seafood in it in Italy....