Sydney Morning Herald: Hawthorn villa sold for 1300 million Australian dollars
SYDNEY TODAY. The price of a renovated Victorian house in Hawthorn sold during the Japanese week of April 4, Australia Eastern Time was A$19 million, a price that is out of step with the downturn in the Melbourne property market.
The property on Kooyongkoot Road was sold through a private sale, and the price was much higher than the average property price of A$102.2 million announced by the Australian Property Monitoring Center. This property covers an area of 2788 square meters and is located in the Scotch Hill area. It has a tennis court and a swimming pool. It is the second most expensive property in the area.
The property is said to have been purchased by an overseas buyer. Marshall White’s agents Marcus Chiminello and James Redfern are believed to have contributed to the transaction, but neither of them made any comments on the price or the transaction. Another high-end property in the Hawthorn area is Avon Court in Shakespeare Grove, which was bought by Autobarn boss Garry Dumbrell in 2009 for A$2025 million.
In another important street in the area-Coppin Grove, a house was launched in 2010 with an asking price of A$1500 million, but it was successfully sold. It was later subdivided, and some of them are now on sale at a price of A$750 million.
Robert Larocca of the Victoria Real Estate Institute said: "Compared with the same period last year, in March this year, the transaction volume of real estate of more than 3 million yuan fell by 200%. However, the property sold this week shows that there are still buyers buying the most in the city. Those expensive properties."
The property on Kooyongkoot Road last changed hands in 2002 at a price of A$345 million. (Wendy)
English version: http://smh.domain.com.au/real-estate-news/13m-sale-defies-property-slowdown-20120419-1x8no.html