Luke McDonald sells Kensington corner terrace for $1.06m
North Melbourne defender Luke McDonald's Kensington Victorian terrace sold for $1.06m to first home buyers at auction on Saturday.
The two-bedroom corner property at 1 Albermarle Street, held by the Kangaroos player since 2018, attracted strong competition at auction. Bidding opened at $900,000 and increments of $10,000 and $20,000 climbed to the $990,000 reserve in less than 10 seconds.
The winning couple, renting locally, were attracted by the polished floorboards, updated kitchen and bathroom, and landscaped garden. The auctioneer noted the speed reflected confidence, with McDonald on holiday while his sister fielded bids on his behalf.
The sale came the week before new auction laws take effect on October 16, requiring vendors to publicly advertise their reserve at least seven days before auction.
- $1.06 million
- Sale price
- $990,000
- Reserve price
- Less than 40 seconds
- Auction duration
- 2018
- Owned since
Why it mattersRapid auctions and strong prices in the inner-city market signal demand is holding even as interest rate uncertainty makes buyers cautious about loan approvals.
AustraliaFirst home buyers are competing hard for established properties in Melbourne's inner suburbs, paying above reserve price to secure a property before rates shift.
✓ Claims checked against the source and corrected before publish. checked 3 h ago
Open this story in InSnip →
