Port Phillip Results vs Quote 6 May

Welcome back to our weekly blog post highlighting the difference between agent quoted prices and actual results in Port Phillip. This week we will be focusing on some recent sales in Port Melbourne, Albert Park, Middle Park, South Melbourne, St Kilda and Elwood

We are entitled to rely on the selling agents advice

A property worth noting is 53 Canterbury Rd quoted $3.6m - $3.8m for its March auction, it was passed in vendor bid $3.5m. Then advertised at $3.95m. then $3.75m-$3.95m then $4.30m and just withdrawn! This fluctuation in price shows that the agent quoted price range was a joke.

It's important to be aware of the difference between agent quoted prices and actual results when buying a property in Port Phillip. Buyers should do their own research and due diligence before making an offer, and agents should strive for transparency and accuracy in their quoted price range.

PORT MELBOURNE

74/85 Rouse St – quoted $1.5m-$1.6m with first agent then new auction date 6/5 quote $1.30m - $1.40m.Auction not held due to no interest

42 Cambridge St – quoted $1.25m - $1.35m. Sold $1,428,500

49/15 Beach St – quote $1.10m - $1.175m. 2 vendor bids $1.0m and $1.02m passed in, sold after $1.175m

107/115 Beach St – advertised $2.10m - $2.30m. Sold undisclosed appears $1.90m

143 Cruikshank St PM –  Quoted $2.7m - $2.9m Auction 15/4 Passed In Vendor Bid $2.8m. Then $3,090,000.  Then $2.90m-$3.10m. Sold $3.0m. (NB sold June 2021 for $2.925m

ALBERT PARK

9 Merton Place – quote $1.80m - $1.98m. Sold before undisclosed.

31 Merton St – quote $2.60m- $2.80m then $2.80m - $3.0m. Passed in on a vendor bid $2.80m, then $3.15m

89 Little Page St – advertised $1.45m - $1.55m passed in then $1.66m

45 St Vincent Pl – quote $5.0m - $5.5m. Vendor bid $5.2m passed in one bid $5.225m sold after $5.50m

5 Danks St – sold off market $2.88m after sale of 7 Danks St $2.995m (report 15/4)

6 Greig St – auction 15/4 advertised $2.20m-$2.40m. Sold $2.50m

MIDDLE PARK

37 Harold St – auction 22/4 quote $2.50m-$2.60m. Then auction 6/5 $2.40m - $2.50m. Passed in vendor bid $2.4m then advertised $2.60m

24/195 Beaconsfield Pde – quote $600k - $660k Passed in

53 Canterbury Rd MP - quoted $3.6m - $3.8m. Passed In Vendor Bid $3.5m.Then $3.95m. Then $3.75m-$3.95m then $4.30m. Now withdrawn

89 Armstrong St – EOI 9/5 quoted $3.90m-$4.20m still showing EOI unchanged

SOUTH MELBOURNE

127 Napier St – quote $1.55m - $1.65m 3 bidders from $1.5m on the market $1.72m sold $1.82m

152 Bank St – advertised $1.50m - $1.60m. Passed in then $1.595m

10 Martin St – quoted $2.5m-$2.7m, then $2.3m - $2.5m, then $2.4m-$2.6m. Passed In Vendor Bid $2.40m Then $2.65m. Then EOI 8/5 quote $2.40m-$2.60m. Agent feedback interest at the top of the range, 10/5 still online as EOI

ST KILDA

5/38 Barkly St – advertised $600k - $650k

115 Argyle St – advertised $1.05m - $1.125m. reported sold no price to date

ELWOOD

4/99 Tennyson St – quote $1.10m- $1.20m. Sold $1.20m