Cheltenham Real Estate Results – March 2012 (Part 2)

The next listing of mine which I’d like to focus on is 56 Olympic Avenue:

Property: 56 Olympic Avenue, Cheltenham 3192
Auction: 24th March, 2012
Result: SOLD Under the Hammer!
Listing Agent: Peter Konidaris 0421 274 996

56 Olympic Ave, Cheltenham

A very healthy crowd turned out for this auction. Throughout the campaign there was a lot of interest, which is expected of a 3 bedroom post-war California bungalow style weatherboard home in Cheltenham’s most desirable pocket. Some may argue that this is Cheltenham’s best street, tree-lined and quiet with a lot of charm to go with it, plus a kindergarten and park on the same street.

The auction kicked off with nobody wanting to put in an opening bid, as usual. Eventually once our auctioneer Phil Rawlings threw in a few crowd-pleasing jokes, the crowd warmed to him and competitive bidding took off! Straight off the bat there were 3 parties going at it, and mid-way through the piece the vendor’s reserve had been reached. As this was a family home for 55 odd years, the reserve was conservative and it was always going to be met, given the amount of interest this home had received. By the end, the last two couples who were bidding were both young couples, looking to buy into the area and to renovate this charmer. Unfortunately they both couldn’t buy the property, however we’re positive that we can find a home for the under-bidders! The home sold for $650,000 under the hammer, to the delight of the crowd and the neighbours who were able to welcome a young couple into the area.

Vendor of 56 Olympic Ave. A teary farewell after 55 years...

Congratulations to the vendors and to the purchaser. Now the purchaser is the proud owner of 56 Olympic Ave, Cheltenham… coincidentally 56 years after Melbourne hosted the 1956 Olympics too! We fell just 1 year short of the home being in the vendor’s family for 56 years, but still after 55 years one can imagine that it was with a lot of emotion and sadness that the vendors had to say goodbye to the family home they grew up in and shared so many memories.

Thank you again Helen, Paul and John for entrusting me with the sale of your home and congratulations again to Michael & Simona. I’m glad you’re all happy and that Michael & Simona are going to enjoy and appreciate this home as their future family home for many years to come.




Peter Konidaris
Real Estate Advisor
0421 274 996
Specialising in real estate for sale in Cheltenham and surrounds.