Finance Property Melbourne’s hottest property slips through Jobe Watson’s fingers

Melbourne’s hottest property slips through Jobe Watson’s fingers

jobe watson real estate
The former AFL star, who has a new job in real estate, won't be bragging about this sale. Photo: Edward Thomas / Getty
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Melbourne was the only capital city to see an increase in the number of homes taken to weekend auction, as weakening clearance rates, along with school holidays, impact on April auction activity.

Melbourne had a subdued 64 per cent success rate across 874 auctions, down from 68 per cent across 723 auctions last weekend.

Melbourne’s top sale was a renovation opportunity in Fitzroy North.

The 25 McKean Street double-fronted brick Victorian-era offering fetched $3.84 million, contested by four bidders in the rain.

Last sold around six decades ago, the home with a classic façade featured soaring ceilings, original cornices, architraves, rosettes and open fireplaces.

Boasting three street frontages, with access also from Jamieson Street and Alfred Crescent, the home sits on a 600 square metre block.

According to Domain, the vendors inherited the home in the Edinburgh Gardens precinct after their elderly aunt passed away last year.

The weekend sale price was $220,000 above reserve with Jobe Watson, the former Essendon captain turned buyer’s advocate, the underbidder for his unsuccessful clients.

The four-bedroom, one-bathroom house, which had $3.1 million to $3.4 million price guidance, was instead sold to a young couple with a baby from Carlton North.

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The Fitzroy home has classic high Victorian ceilings. Photo: Edward Thomas
fitzroy property
It is a perfect fixer-upper. Photo: Edward Thomas
fitzroy home
The kids will certainly have plenty of room to run around. Photo: Edward Thomas
fitzroy home
Proximity to the Melbourne CBD and local schools explains the home’s high selling price. Photo: Edward Thomas

The former AFL star secured his first buy for a client last month in his new role, based in Melbourne.

It was when the Infolio Property Advisors director nabbed a two-bedroom Kensington house for interstate clients at $1.03 million.

Watson, whose passion for property saw him initially a client of Infolio, then did some work experience for the group.

He purchased equity in the company in 2016 and began as a buyer’s advocate after his 220-game AFL career came to an end last season.

Canberra recorded the nation’s highest preliminary clearance rate this week with a 74.3 per cent success rate from its 78 auctions.

Prices ranged from $405,000 at Palmerston to $2.95 million at Red Hill.

The 131 Mugga Way, Red Hill home was a five-bedroom Gary Williamson-built home with courtyards on 1255 square metres sold through Luton Properties.

The official land value was $1,291,000.

This stunning Canberra home sold for $2.95 million. Photo: Luton
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It boasts five spacious bedrooms, three bathrooms, a dining and a living room. Photo: Luton
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The master bedroom has its own private balcony with views across the nation’s capital. Photo: Luton
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And don’t forget the swimming pool. Photo: Luton

The national capital’s clearance rate was followed by Adelaide’s 70.6 per cent.

Prices in Adelaide ranged between $385,000 at Bowden and $1,005,000 at Semaphore.

The Harcourt Williams sale at 121 Gibson St, Bowden was a basic three-bedroom 1900 cottage on 292 square metres.

The Housing Safety Authority had declared the Bowden property to be substandard with a Housing Improvement Order on the property.

There were 1890 homes taken to auction across the capital cities this week, with preliminary results showing a 64.5 per cent success rate, according to CoreLogic.

By comparison, 1839 auctions were held last week with a final clearance rate at 62.8 per cent.

Over the same week last year, auction volumes were lower due to the 2017 Easter weekend.

Sydney had the top result around the capitals with a pre-auction sale in Killara at $5.7 million through McGrath agents Neo Wang and Glenn Curran.

It last traded at $2.95 million in 2003.

The four-bedroom manor at 28 Wattle Street with sandstone and double-brick fac­ade sits in gardens designed by Peter Fudge, featured in his first book.

The gardens come with a pool with Moroccan-style mosaics and a sandstone pavilion.

It was initially listed with $6 million hopes last year.

Sydney hosted 774 auctions this week, with preliminary results showing a 64.9 per cent success rate, up from 62.9 per cent across 795 auctions last week.

Brisbane reported 45 per cent clearance of 56 scheduled auctions.

Its cheapest result was $620,000 at Deception Bay, north of Brisbane.

The single-storey home on 733 square metres at 91 Esplanade was a waterfront reserve knockdown.

It sold at $480,000 in 2003.

Jonathan Chancellor is editor at large at Property Observer.

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