Clifton, an 1891 Camberwell home went under the hammer over the weekend for a $7.7 million record price. The previous record was $6.8 million for a nearby Russell Street property.
The home was listed by Marshall White’s, Doug McLauchlan, who had $6.5 plus million expectations for the property. McLauchlan states that he wasn’t “at all surprised” by the result, going on to explain that it was a competitive auction with over 5 bidders. The result was indicative of a quality property with historical bones in a top location.
History repeats itself with new owners
The historical property has fittingly been purchased by a young couple with two children. Of the 6 owners in the last 120 years, its last were also a young family who took residency for over 25 years.
The current market
McLauchlan stated that the record breaking result was, in his belief, partly due to it being sold during a time time of “market strength”. According to the REIV, there were 944 auctions reported over the weekend. A clearance rate of 76 per cent was recorded on the weekend compared to 75 per cent last weekend and 72 per cent this weekend last year.
For full property details, view the property listing here.
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