Unique Properties Still in Hot Demand

Bucking current trends of decline in property prices over the last year, two stand out auctions from the weekend show that unique properties are still high on the shopping list for discerning buyers.

A large, two bedroom, period apartment in an art deco building in Albert Park sold on Saturday for $900,000 at a hotly contested auction sailing $100,000 past reserve. The famous Art Deco block is one of the only remaining in Albert Park and is highly recognisable to locals, the tightly held block was recently restored by famed architect Fender Katsalidis further adding to its appeal and real-estate pedigree.

Following on from this trend of unique properties smashing expectations, a very spacious three bedroom, two bathroom apartment in an extremely secluded and exclusive block located around the ‘Paris’ end of the CBD Sold for over $200,000 above reserve on Saturday. The property was hotly contested with a rural buyer eventually winning the keys wanting to use the property as a city base. The building is famous for being frequented by celebrities and rock stars when visiting Melbourne and is extremely tightly held being located in a famed laneway.