21st November 2017: Auction Snapshot: Saturday 18 November

What's happening in the market…

New laws have been put into place after the introduction of the policies earlier this year. "Foreign owners will be slugged with an annual fee if their property is left vacant for six months or more after legislation cleared the Senate. Deductions investors can claim on residential properties will also be limited," The Domain Group stated.

The REIV's recent data showed that, by looking at the next suburb over via the train line, buyers could save a six-figure amount. "Homebuyers willing to commute for a few extra minutes each day are able to consider a greater number of suburbs, including new growth areas which may not have peaked in terms of price growth," said REIV President Richard Simpson.

Saturday 18 November
Number of reported auctions in Victoria: 1,202
Clearance rate: 70%

Auction highlights…

27 Pendle Street, Box Hill

Behind the modest facade of this high-set Californian Bungalow, discover a generously-proportioned renovated home that combines original Art Deco styling with an impressive rear extension to provide spacious comfort for a growing family. Tucked away in a quiet pocket just a few minutes stroll to esteemed Box Hill High School, the new home owners will be able to walk to Box Hill Oval, Laburnum station, cafes and primary school, plus Box Hill Central shopping, restaurants and transport hub.

Number of bidders: 5
Sale price: $1,635,500

21 Coven Avenue, Heathmont

Cleverly designed and brilliantly added to by the current owners, this unique property has been built to provide a fantastic family lifestyle close to HE Parker Reserve, Bungalook Creek, Heathmont East Primary, Canterbury Road shopping and transport. The outside is a major feature, where tiered decking takes you through enclosed sitting areas, paved outdoor seating and a magnificent indoor/outdoor rumpus room with covered salt water, solar heated in-ground pool and separate in-set outdoor spa.

Number of bidders: 5
Sale price: $991,000

3 Stirling Street, Kew

This welcoming and surprisingly spacious resid ence has been extended and modernised with innovative flair to create the home of today. Highlighting space, light and quality appointments, it convincingly defines contemporary family living. Cafe doors open out to a central entertaining courtyard with heated plunge pool and spa. The home is located within walking distance or tram of highly sought-after private schools, local shops and the numerous amenities of Kew Junction – congratulations to the lucky new owners!

Number of bidders: 4
Sale price: Undisclosed