Victoria’s record-breaking home sales in 2023: Hawthorn manors, Tecoma weatherboards set new benchmarks
From waterside mansions to historic old manors, a plethora of homes across the state broke their suburb’s residential benchmark in 2023. See some of biggest record breakers.
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Waterside mansions and treetop homes have smashed suburb sale records across Victoria, with the trade of one Hawthorn manor marked as one of the state’s priciest sales.
The $41m deal for the Avon Court mansion in Hawthorn surpassed the suburb’s benchmark after it was snapped up by Russian swimmer Anna Egorova and Curve Finance chief executive Michael Egorov in May.
The value of the home had more than doubled since its last sale for $19.8m in 2014.
It blitzed the area’s record by $500,000, formerly held by 21 Coppin Gr which sold for $40.5m in 2021.
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Another standout was The Connault at 41-45 Yarrbat Ave, Balwyn which sold for $14.85m.
It was a luxury retirement complex until late 2022 and even with a significant shaving of its initial $20m-$21m price hopes, the site still managed to knockout the suburb’s record by nearly $5m.
New data from PropTrack also revealed the top 10 areas with the biggest jumps from their former residential home price records.
A four-bedroom Junction Village pile had a $1.168m jump for a home that was owned by the same family for more than 60 years.
The residence at 39 Craig Rd sold in April for $2.55m, thrashing the suburb’s previous record of $1.382m from the nearby sale of 8 Craig Rd.
In Melbourne’s northeast, the four-bedroom residence at 63 Reynolds Rd, Wattle Glen fetched $3.38m, wiping out the previous record of $1.95m held at 19 Lorimer Rd.
And in Tecoma, a four-bedroom home at 11-15 Rutherford Rd sold for $1.82m in February, surpassing the former record set by 33 Hakea St by just under $400,000.
PropTrack senior economist Eleanor Creagh said 10 straight months of home price rises was a factor in why some suburbs had experienced a substantial jump in their record-breaking sales.
“The top end of the market really outperformed after leading the recovery in the first half of this year, that’s despite interest rates continuing to rise,” Ms Creagh said.
“That was really fuelled by demand from life deposit buyers who are less affected by rate rises.”
Ms Creagh said she’d seen that affordable suburbs had recorded strong growth too.
She added that buyer demand had “held up pretty well” even though maximum borrowing capacity has been slashed by more than 30 per cent through record-breaking interest rates hikes since May, 2022.
A lavish waterfront home owned by Western Bulldogs legend Chris Grant broke Williamstown’s highest mark.
Grant offloaded the home at 15 The Strand in September. The sale price, understood to be circa-$8.5m, eclipsing the previous $6.75m record by close to $2m.
Avonsleigh’s benchmark increased $950,000 on the back of a $2.5m sale at 8 Cherry Rd, while the home at 5 Stuart Rd raised East Warburton’s record by $550,000.
While they didn’t notch into the biggest record breakers for this year, other notable benchmark setters included a four-bedroom home at 42-44 Wolseley Pde, Kensington which sold for $3.395m.
The righteous neighbour of the abode managed to crush the suburb’s top sale by paying$95,000 higher than the area’s previous $3.3m benchmark set at 22 McCracken St in 2021 because they didn’t want the property falling into the hands of a developer.
Nelson Alexander Flemington partner Jayson Watts said at the time that the buyer didn’t want “anyone to look into her backyard”.
Kissing the water’s edge, a Safety Beach manor complete with a super-sized berth big enough for a 21m-plus yacht snagged the area’s top spot, selling in February for $8.65m.
The eight-bedroom mansion at 20 Brindabella Point sits in Safety Beach’s Martha Cove marina and was purpose-built in 2020 to accommodate a number of guests as a holiday home.
Biggest Record-Breaking Home Sales of 2023
Address: 41-45 Yarrbat Ave, Balwyn
Sale Price: $14.85m
Beat record by: $4.85m
15 The Strand, Williamstown
$8m-$8.8m (Undisclosed)
$1.25m-$2.05m
63 Reynolds Rd, Wattle Glen
$3.8m
$1.85m
20 Brindabella Point, Safety Beach
$8.65m
$1.55m
39 Craig Rd, Junction Village
$2.55m
$1.168m
2 Somme Pde, Edithvale
$4.8m
$1m
8 Cherry Rd, Avonsleigh
$2.5m
$950,000
5 Stuart Rd, East Warburton
$2.05m
$550,000
20 Shakespeare Gr, Hawthorn
$41m
$500,000
235 Kooyong Rd, Elsternwick
$8m
$500,000
222 Somerville Rd, Kingsville
$2.35m
$420,000
37 Primula Blvd, Gowanbrae
$1.8m
$393,000
11-15 Rutherford Rd, Tecoma
$1.82m
$335,000
47 Orbital Dr, Kealba
$1.5m
$275,000
8 Laburnum Pl, Hillside
$2.82m
$255,000
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