‘Mornington Peninsula buyers get market off to a great spring start (10th of September 2018)
‘LOCAL buyers have snapped up a couple of prime Mornington Peninsula properties to kick start the spring season.
A pair of downsizers are leaving their acreage for 51 Morrell St, Mornington, a double-storey luxury home with resort-style features and stunning bay views.
The house on 907sq m in the Beleura Hill area and just steps to Mills Beach attracted several offers, all from peninsula residents, to sell for $3.85 million on September 4.
The result was within the $3.7-$3.95 million indicative price range, after the property had only been sold last May for $200,000 less at $3.65 million.
Prices of “prime real estate in a prime position never go down”, McEwing & Partners director Dean Phillips said.
The top sale so far this year in Mornington was 840 Esplanade which fetched $4.625 million in February.
The first spring auction weekend saw a 1929-built home at 7 Herbert St, Mornington, fetch $1.54 million on September 8.
All four bidders were from the peninsula and competed strongly for the 696sq m block. All had plans to demolish the property and build a dream home at the coveted Beleura Hill address, Mr Phillips said.
The property, which had been extended in 1970s, had been home for the vendors for more than two decades.
The corner block property, with one side facing Morrell St, has a rich history as one of the original Beleura Hill beach homes.
“It is a quintessential Mornington property and it has sold to a talented landscape designer who will build on the block,” Mr Phillips said.
The double-storey weatherboard home had a price guide of $1.5-$1.65 million during the auction campaign.
The region reported a 71 per cent clearance rate from seven properties, with two passed in, for the week ending September 9.’
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