Albany Road Block Sliced and Diced, Now For Sale
A GRAND home in what is considered Melbourne’s best street – is back on the market for sale, after its
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Sydney Mansion Sells For $30 Million
AUSTRALIA’s prestige real estate market seems to be going from strength to strength, with an overseas-based investor paying close to $30 million for a villa style mansion in Sydney’s ritzy Vaucluse.
The six-bedroom home was marketed by Ray White Real Estate’s Prestige Sales Michael Finger, who said five parties competed for the property, which has Sydney Harbour views.
The sale price surpasses the 2010 record held when the former Toorak estate of Diana Baillieu, in Melbourne, sold to a property developer for $25 million – or about $10 million more than the price it sold for, a year earlier.
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Victoria’s Highest Priced Home Still Unsettled
THE agency selling the Toorak mansion expected to smash Victoria’s residential price record is still confident of a sale despite the bleak global economic backdrop.
The 3 Towers Road mansion of London-based mining speculator Socrates Vasiliades was listed for sale in May with price expectations of about $30 million.
An Expression of Interest campaign managed by Kay & Burton’s Ross Savas closed a month ago but the house still appears on industry websites as a current campaign.
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Toorak’s Little Milton Hits The Market, Price Expectations Circa $13 Million
LITTLE Milton, the luxurious home of late businessman and Corona Group executive John Batkin quietly hit the market this week.
The circa 1926, five-bedroom mansion (pictured, right) is at the north-east corner of Whernside Avenue, and Albany Road – which most advocates and agents agree is Toorak’s most expensive street.
Recently, a new tennis court was developed atop a 12-car underground garage, Little Milton’s overall block size is 2476 square metres.
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Victoria Has Australia’s Richest and Poorest Average Workers: ATO
SUBURBS in Victoria accommodate Australia’s wealthiest and poorest average workers.
According new Australian Taxation Office research, Portsea (pictured, right), about 90 minutes south of Melbourne, is home to the country’s highest earners in 2008-2009, up from third position a year earlier (those 2007-08 figures were released last year).
The average income for Portsea residents was $198,987 per annum.
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Top End Market May be Deflating Faster Than First Thought
MELBOURNE’s top-end may be deflating faster than some agents would have you believe.
In St Kilda West, a historic waterfront four-level mansion with six bedrooms on Beaconsfield Parade has just been discounted to $4.95 million after failing to sell last June for $7 million.
Around the corner in tree-lined Mary Street, Channel Nine managing director Jeff Browne is asking $3.975 million for his outgoing terrace after it failed to sell at auction in February, with price expectations of up to $4.4 million.
At another Mary Street, in Hawthorn, a modern family home was discounted this week to $4.65 million after being advertised for most of the year at $4.95 million.
Read moreRecord Price for a Melbourne House Smashed For the Third Time in Four Months
The record price for a house in Melbourne has been smashed for the third time in four months.
Former soft drinks distributor turned property developer Harry Stamoulis is speculated to be paying $25 million for a massive estate at 39 St Georges Road, Toorak, which includes a seven bedroom unrenovated mansion – once the family home of Opposition Leader Ted Baillieu.
The Baillieu family put the house at a trough in the prestige property market in 2008, where it eventually sold for $14.8 million to private investors the Zig Inge Group, who develop mainly retirement communities.
Read moreMelbourne Prestige Residential Auction Round up
A house in Towers Road Toorak, a hop skip and a jump from the mansion of former Carlton Football Club
Read moreMoving Experience for Vizard
All eyes turn to Toorak this month, with the pressure on for disgraced businessman Steve Vizard to find himself a new family home, and soon.
Read moreFormer Deakin University Mansion to be Sold
Stonington, the historic Malvern mansion at the centre of last year’s battle between community lobbyists and the State government, will soon be available for sale for the first time since it was built in 1890.
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Albany Rd mansion collects $18.5m from Jayco founder
Jayco Caravans managing director Gerry Ryan is paying c$18.5 million for a Toorak mansion with no tennis court. The deal
Read moreFormer Toorak Veterinary Hospital to Make Way For Apartments
THE former Toorak Veterinary Hospital will be developed into a luxury 15-unit apartment complex.
The 646 Malvern Road hospital, in Prahran – renowned in the area for performing animal acupuncture – will be cleared to make way for the complex, which is due for completion in early 2011.
