Melbourne auctions: Cheltenham house sells for $1.5 million

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Melbourne auctions: Cheltenham house sells for $1.5 million
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An unlivable Brighton house has sold at auction for $2.84 million, despite having no floor, bathroom or kitchen.

A two-bedroom townhouse in North Melbourne sold for $1.35 million.was instead a shell, left mid-renovation by its owners, one of whom recently died. The other was in a retirement home.“It’s big money for a house with no flooring, no walls, no bathroom and no kitchen,” he said. “We thought $2.6 million was going to be a good get. We thought if we got that it would be huge. $2.5 million would have been a fair price.

“It started at $2.5 million, and it was straight on the market with one bid,” he said. “The guy who ended up buying it, from Thornbury, just did not want to give it up.”Advertisement “No, I think it’s more inflation and the cost of living,” he said. “[These rates are] normalised, to be honest. I remember paying 7 per cent and 8 per cent.”

In Northcote, a four-bedroom family home sold after a lightning-quick auction, Jellis Craig listing agent and auctioneer, Sam Rigopolous said.Rigopolous had listed the house for sale with a price guide of $2.1 million to $2.2 million.

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