Beautiful Balwyn

35 Yongala Street, Balwyn
Photo: Marshall White

Saturday started with a flash of brilliant sunshine and a warm spring breeze, but by midday, the Melbourne weather had turned decidedly glum.

Rain, cold wind and dark clouds provided buyers with a difficult backdrop as they ventured out to visit their chosen properties.

Nothing was different for 35 Yongala Street in Balwyn. The auction flag was horizontal with the wind and people scurried from their cars to the front door in an effort to stay dry.

The Auction Warm Up

To my trained eye, buyer moods felt just as grey, with many families and couples just walking through to glean ideas or keep an eye on the market. No really strong contenders showed any signs of bidding.

This was good news for me and my clients. They were waiting around the corner in their car and had made the decision to stay under cover for the auction.

We had met earlier at Kew’s Movida Cafe and we strategised our moves – particularly in preparation for a pass-in. Many buyers ask me how I can glean whether a property is more likely to pass in – and there are indicators.

“If the agent is keen to take an offer prior to auction… this can be a sign that the campaign is not going as well as planned.”

The best indicator is gauging the agent’s level of enthusiasm in the final week. If the agent is keen to take an offer prior to auction, or if the agent is looking for commitment signs that you are prepared to bid on the day, this can be a sign that the campaign is not going as well as planned.

In this particular case, the agents had taken thorough steps to call every single person who had been through the property in that final week – a strong sign that the bidders were not firmed up.

The open living area
Photo: Marshall White

I had been engaged in the final stages to bid on this property, so unlike some other assignments where I’ve either chosen the house or I’ve seen it with my buyers, I was new to this property.

What Made the Property Perfect

As I pulled up in the rain I could see exactly what the magic spell was all about – 35 Yongala Street is a beautiful period home that has undergone substantial renovations. Its special essence is actually how beautifully it blends into its surrounds.

The streetscape was inviting and comforting, like something you could imagine being home to children from preschool to their university days.

And Balwyn offers exactly this for families – world class schools, stunning family homes and superbly manicured streets. The backyard was incredibly well presented and showcased an inside-meets-outside party space; cleverly combining yard, deck and lawn to offer a substantial outside area.

A backyard perfect for outdoor entertaining
Photo: Marshall White

What I really loved about this beautiful home though was how the renovation work remained true to its original era. The home had an appealing lived-in-and-loved feel, and yet nothing was out of place.

The room sizes were generous and the extra touches gave me house-envy. The butler’s pantry was every chef’s dream, and the cleverly used audio cupboard meant that the surround sound was controlled without any visible units around.

“There was nothing I could fault at this property – and that is unusual for a buyer’s advocate.”

Throughout the inspection, teenagers and young children buzzed with enthusiasm from the attic-style bedrooms and children’s retreat space upstairs, which the vendor’s girls had enjoyed over their years of ownership.

In fact, there was nothing I could fault at this property – and that is unusual for a buyer’s advocate.

The upstairs haven
Photo: Marshall White

How The Auction Kicked Off

Hamish Tostevin started the auction and called for bidders repeatedly. I let him place a vendor bid before I offered a $25,000 bid. Not surprisingly, the property passed in to me after his attempts to get a competing bidder to challenge me failed.

The crowd was mixed, but as I’d worked out earlier, I was on my own. My anxious buyers responded quickly to my texts and after 50 minutes of tenuous negotiations, I secured their fabulous home.

The Final Result

So what was it that led to such limited interest for something that could arguably be described as perfect?

Could it have been that Election Day played a part? Was it that period homes don’t appeal to a large slice of the Balwyn family home demographic?

Or could it have been a bit of bad luck for the vendors? Two of their shortlisted front-running bidders bought alternative properties in the final weeks of the campaign. I think that it was perhaps a combination of all of these factors.

One thing is for sure – on Saturday, my clients secured a stunningly renovated period family home in one of Melbourne’s premium suburbs for a great price.

For more information about Balwyn, read our suburb profile here

Points of Interest in Balwyn, Postcode 3103

Balwyn High School
Balwyn Primary School
Palace Balwyn
Modern Medical Centre
Boroondara City Council