Young family pays top dollar to break into South Melbourne school zone
SOUTH Melbourne schools are proving a major drawcard for young families, shown in the stellar sale of 13 Ward St.
Three families entered a bidding battle for the three-bedroom Victorian terrace, just metres from South Melbourne Market, pushing it well above its asking price to $1.865 million.
After 20 bids, rising in increments of $5000, $10,000 and $20,000, the two-storey home soared past its guide of $1.65-$1.75 million, and was called on the market on the final bid.
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Shane O’Dwyer won the keys for his wife and twin children, ending the search for a home in the new South Melbourne Primary School zone.
“We both work in the area and now our kids are about to start primary school we thought it would be good to move here,” he said.
“We grew up around Cranbourne but have been renting in Williamstown until now.”
Another young couple with a toddler was the under bidder, raising their hand seven times during the thirty minute auction. A phone bidder also fell short.
Marshall White, Port Phillip agent Matthew Grima called South Melbourne Primary School, which opened this year, a new buying force in the inner-city suburb.
Auctioneer Kaine Lanyon said Albert Park College had also “become so popular the boundaries are coming in to make it a smaller zone.”
Mr Grima said this home was in a particularly sought-after position, with the market just steps away.
“Contemporary updates mixed in with period details, a north-facing backyard and home office made it a winner,” he said.
“Quality properties in this pocket of South Melbourne are always in demand.”
CoreLogic figures show South Melbourne’s median house price was $1,372,500 in the 12 months to May.
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Originally published as Young family pays top dollar to break into South Melbourne school zone
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