A unique sale with plenty of investor appeal saw one Australian suburb record an auction sale price in excess of $5 million last weekend.
APM PriceFinder revealed the most expensive auctions from last weekend, with two adjoining properties, sold together, in Melbourne's exclusive eastern suburbs fetching a massive $5.52 million on Saturday.
The property consisted of a federation family home and a two-storey brick house, with the latter touted as an income-generating opportunity for any future owner.
"Multiple options to immediately rent out, new home site/develop – subject to council approval – or make use of one of the rare double blocks available in Canterbury and utilise an enormous garden area," the listing advertisement stated.
Sold by Marshall White, the property includes a pool and outdoor entertaining area on the huge 1,479-square-metre block.
The sale price compares with a current median house price of $2,341,500 for the suburb, according to CoreLogic RP Data.
The best results for Australia's five leading capital city auction markets are below (listed in descending order).
1. Melbourne
2-4 Mangarra Road, Canterbury, VIC
2. Sydney
51-53 Edgecliffe Boulevard, Collaroy Plateau, NSW
3. Brisbane
4. Canberra
9A Ducane Street, Forrest, ACT
5. Adelaide
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