Insights

In an article by Michael Bleby in the Australian Financial Review on Monday, Hodges agent Angus Graham discussed the sale of a 1970s apartment over the weekend after just one week on the market.

“The apartment market can be very slow but this was very well received and sold very, very quickly, which can be unusual for apartments” Mr Graham noted.

The one bedroom South Melbourne apartment was designed by renowned architect Daryl Jackson in 1972, a fact that was not lost on the number of architects who came through the open for inspections for the property.

Graham explained that “the majority of people who came through did refer to Daryl Jackson. They were aware of who he is and that was what drew them to the building”.

As the apartment drew a number of bidders, all with architectural backgrounds, Mr Graham expects that if more apartments in the building came up on the market they could be expected to receive a similarly favourable price.