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Property Market Update Report - Marcus Chiminello, Stonnington - Issue 2, 2021

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"CHASTLETON" 17 CHASTLETON AVENUE, TOORAK - SOLD

Unparalleled in terms of grandeur, level of finish and unforgettable beauty, this magnificent c1886 Italianate Victorian residence's extraordinary original grandeur and elegance have been brilliantly enhanced with a sophisticated contemporary renovation by architect Russell Casper with interiors by international designer Thomas Hamel and artful landscaping by Paul Bangay. Behind a sweeping bluestone return drive, the majestic columned portico introduces upon entry a spectacular reception hall with original tessellated tiles underfoot and featuring soaring ceilings and exquisite leadlight windows. Oversized limestone tiles flow through the state of the art kitchen appointed with a full suite of Miele appliances including three ovens, induction stove top and integrated Sub Zero fridge/ freezer, 2 dishwashers and underfloor heating. An expansive family living room with gas log fire and leather window seats opens through black steel framed doors to a north-facing limestone terrace and on the western side, to an evocative Tuscan style garden surrounded by lemon trees, soaring cypresses and an espaliered apple tree- a memorable outdoor setting for long summer lunches. Sold via a successful Expressions of Interest campaign.

Marshall White Sales Statistics APRIL TO JULY, 2021 This quarter's outstanding results show the Melbourne property market is continuing on its challenge-defying trajectory, breezing through another snap lockdown and ignoring the traditional pre­

Average sale price $1m+ range

Average days on market

□□ □□ □□ □□ □□ Houses

Days

Number of sales above reserve

Total number of sales $1m+ range

Average

Private & EOI

$2,601,430

27

winter slump. Properties were selling consistently high at well-attended and competitive on-site auctions throughout April and May, with a seamless pivot to the online platform in early June. The short lockdown had minimum impact with the vast majority of auctioned properties continuing to sell well above reserve. Strong results from expressions-of-interest campaigns and offers prior to auction were reflected in the decrease in number of 'days on market'. Demand continues to be exceptionally strong and while supply is on the uptick, it is still not at a level that will satisfy the number of

..

78%

358

buyers in the marketplace.

MARKET UPDATE REPORT


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Property Market Update Report - Marcus Chiminello, Stonnington - Issue 2, 2021 by Marshall White Real Estate - Issuu