Malvern mansion takes out weekend’s top sale – at whopping $6m

The Malvern mansion almost tripled in price in 14 years.

The Malvern mansion almost tripled in price in 14 years. Photo: RT Edgar

A renovated 1930s family residence in Melbourne’s coveted Stonington Estate has taken out the nation’s top weekend auction sale at $6.3 million.

The pre-auction guidance had been $5.5 million to $6 million for 13 Wilks Avenue.

The residence sits on a 913 square metre block inside the former grounds of the Stoning mansion, which was built by Canadian-born businessman John Wagner in 1890 and once served as the official residence of Australia’s governor-general and Victoria’s governor.

The Malvern home, which boasts an impressive five bedrooms and four bathrooms, last sold for $2.15 million in 2004 – meaning it almost tripled in price in 14 years.

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The home, originally built in the 1930s, has been beautifully renovated. Photo: RT Edgar

malvern mansion

The new owners will enjoy two separate lounge areas. Photo: RT Edgar

malvern mansion

The property is set in stunning garden surrounds overlooking a garden, pool and spa. Photo: RT Edgar

In another notable sale, a Fitzroy residential conversion that was once home to the Victorian Movie Makers Society fetched $3.7 million at weekend auction.

The clean-edged 1950s building – where 8mm amateur film sessions were all the rage – had been converted many years ago into a contemporary three-bedroom home.

The Victorian Movie Makers signage is still etched onto the block’s facade, despite the group selling for $571,000 in 2002.

Set near the Gertrude Street design precinct, there was a $3.5 million to $3.7 million price guide.

Centred around an open plan living room with soaring nine-metre ceilings, the home features a master bedroom retreat with ensuite. The second living room flows to a landscaped alfresco entertaining terrace.

It last traded for $2.85 million in 2014.

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The ‘Victorian Movie Makers’ signage can still be seen. Photo: Nelson Alexander

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The new owners have a view of the Melbourne CBD. Photo: Nelson Alexander

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The vast main bedroom has walk in robes and ensuite. Photo: Nelson Alexander

fitzroy house

The home sold for $3.7 million, up from $2.85 million in 2014. Photo: Nelson Alexander

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Its centrepiece is this living room with a nine-metre ceiling. Photo: Nelson Alexander

The cheapest weekend sale across the country’s capitals was nearby in Melbourne’s Brunswick.

The one-bedroom 14/38 Canberra St villa fetched $282,000, having last sold at $20,000 in 1982, and $24,000 in 1981.

Elsewhere in Melbourne, Carlton recruit Aaron Mullett secured $1.011 million on Friday night after three pre-auction offers for his Flemington home.

Mullett has shared the Princes Street two-bedroom, one-bathroom home, with his fiancee Elle.

The property, which sold in 2014 for $760,000, hit the market with a $890,000-$979,000 price guide.

Mullett landscaped the back and front yards of the single-storey red brick house which came with high ceilings and polished hardwood floors.

CoreLogic’s preliminary auction clearance count indicated success rates have softened as the number of auctions surged to the second-busiest week so far this year.

There were 3097 homes taken to auction across the combined capital cities this week, showing a 67.5 per cent success rate.

In comparison, 1764 auctions were held last week and the final clearance rate came in at 63.3 per cent.

Over the same week last year, auction volumes were lower with 2916 homes going under the hammer across the combined capital cities, although the clearance rate was a stronger 74.1 per cent, CoreLogic auction analyst Kevin Brogan said.

“Looking at auction volumes, Perth was the only city to see a slight fall in the number of homes taken to auction this week, while all other cities increased,” he said.

In Melbourne, a preliminary clearance rate of 68.9 per cent was recorded across 1656 auctions, down from 70.8 per cent across just 453 auctions on the prior holiday weekend.

Sydney was host to 1055 auctions, with preliminary results showing a 67.8 per cent success rate, up from 62.2 per cent across 974 auctions last week.

This time last year, the clearance rate was a stronger 76.8 per cent across 1001 auctions.

“Buyers certainly feel like the tides have changed,” Cooley Auctions auctioneer Damien Cooley told The Australian Financial Review, adding he would not call it a buyers’ markets until clearance rates fell below 50 per cent.

Sydney’s top house sale was $5 million on Kogarah Bay through McGrath Estate Agents.

The five-bedroom house at 78 Carlton Crescent came with a boat shed on its 500 square metre holding which last sold four decades ago.

Adelaide recorded the highest mainland preliminary clearance rate at 69.7 per cent.

But Saturday’s South Australian election prompted estate agent Charles Booth to delay the auction of a five-bedroom Prospect house until next Thursday night, sensing some people were delaying decisions until after the result.

The 31 Alpha Road offering is a 1926 Tudor style house on 2100 square metres with a price guide between $2.9 million and $3.1 million.

CoreLogic calculated the number of scheduled auctions in the SA capital on the weekend was 99, up from 94 last weekend but down from 115 the weekend before.

Canberra’s top sale was 90 Dominion Circuit, Deakin which fetched $3.75 million through Luton Properties.

The five-bedroom house last sold in 1996 at $725,000.

The entry foyer leads into the formal lounge and dining room. Photo: Luton

The new owners can enjoy an in-ground swimming pool, spa and Balinese-inspired outdoor dining area. Photo: Luton

Canberra’s cheapest sale was 9/2 Covington Crescent, Charnwood which fetched $322,000.

The single-level two-bedroom courtyard home was marketed as “in need of attention”.

Brisbane’s cheapest was $466,000 for a three-bedroom house at 15 Stonewood Street, Algester. It last sold at $108,000 in 1999.

The dearest Brisbane sale was an acreage further south at 115 Frizzell Street, Stretton.

The three-bedroom house sat on a 4047 square metre holding, 18 kilometres out of the CBD.

Brisbane’s weekend auction clearance rate was 55.8 per cent.

Jonathan Chancellor is editor at large at Property Observer.
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