A property in Williamstown has seen an extraordinary increase in value over the past three decades, with its sale price soaring from $136,000 in 1994 to a stunning $1.89 million at auction last weekend. The sale of this four-bedroom, three-bathroom family home on Anzac Crescent marked the highest sale in Melbourne over the long weekend, demonstrating the area’s enduring appeal.
In the early 90s, Williamstown was still transitioning from its working-class past, and the home was purchased during a period when interest rates were high, well above current levels. Since then, the suburb has become one of Melbourne’s most desirable bayside locations, with the property market showing remarkable resilience.
According to Michael Harvey, director of Williams Real Estate, the sale price reflects both the home’s prime location and the ongoing strength of Williamstown’s real estate market. “This is one of the best pockets in Williamstown, and homes like this don’t come up often,” Harvey said. He noted that the auction attracted local buyers, underscoring the strong demand within the community. “People don’t want to leave the area,” he explained, pointing to the loyalty of Williamstown residents who tend to stay in the vicinity when upgrading their homes.
The property, situated on a 530-square-meter lot, features spacious living areas across two levels, a ground-floor master suite, a dedicated study, and a backyard with a thriving market garden. The stylishly renovated kitchen is designed for modern family living, with sleek appliances, ample storage, and a spacious island bench. The home also boasts a year-round outdoor entertaining space complete with a built-in concrete bar and adjustable blinds.
The auction began with a $1.78 million vendor bid before a prospective buyer raised the price to $1.79 million, setting the pace for the bidding. The price climbed steadily in $10,000 and $5,000 increments before reaching its final sale figure of $1.89 million, marking one of the highest results for the suburb this year.
Despite recent fluctuations in the broader real estate market, Harvey believes Williamstown’s property values will continue to rise. “Even when the market dips, Williamstown holds firm,” he said. “When things start moving again, this is one of the first areas to pick up. I’d expect to see prices continue to rise, especially for homes like this.”
According to the latest data, Williamstown’s median house price has reached $1.6 million, up from approximately $800,000 in 2013, reflecting the growing desirability of the suburb.
The vendors, who had lived in the home for 30 years, were delighted with the result, and the buyers, who will be relocating just a few blocks away, were equally pleased with their purchase.
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