A rundown house in Melbourne sold for $5.8 million at auction – nearly $2 million above the price guide – after critics accused the agents of underquoting to draw attention to the property and drum up business.
The house, at 62 Rose Street in Armadale, was marketed by Kay & Burton agent Grant Samuel, the son of former Australian Competition and Consumer Commission chairman Graeme Samuel.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
