Goldman Sachs managing director Alastair Lucas spends $3.025 million in East Melbourne

Goldman Sachs managing director Alastair Lucas spent $3.025 million to buy in East Melbourne.

Lynda Manor, the Italianate Victorian terrace was the most expensive Melbourne house sold at auction on the weekend, according to the REIV.

The three-bedroom, 1889 Vale Street ­terrace sold through Caine Real Estate director Paul Caine who's price guidance was $2.5 million plus.

There were three bidders after the initial $2 million vendor bid on the 209 square metre property.

It last sold for $95,000 in 1979.

In March 2013 some $2.62 million was paid for the terrace two doors along, a five bedrooms, three bathroom terrace with s, the formal lounge with Karl Fender designed extension.

There was a clearance rate of 70% at weekend auction, compared to 69% last weekend and 70% on the same weekend last year.

There were 576 auctions reported to the REIV.

The final clearance rate hasn’t risen above 70% since the week ending 23 March 2014. 

The clearance rate is trending lower, however auction numbers remain high.The next two weekend is expected to have about 1,000 auctions each. 

This would push up the total number of auctions for the month of May to 3,700, which is higher than the long-term average, Enzo Raimondo from the REIV said.

THE DEAREST FIVE HOUSES

1. 110 Vale Street, East Melbourne $3,025,000
2. 95 Kooyongkoot Road, Hawthorn $2,775,000
3. 29 Brazilia Drive, Glen Waverley $2,416,000
4. 832 Esplanade, Mornington $1,900,000
5. 9 Bella Vista Road, Glen Iris $1,900,000

THE CHEAPEST FIVE HOUSES

1. 22 Oak Avenue, Doveton $269,000
2. 37 Nightingale Drive, Werribee $280,000
3. 21 Hughes Crescent, Dandenong North $325,500
4. 10 Paringa Avenue, South Morang $347,500
5. 39 Hendersons Road, Epping $350,000

THE DEAREST FIVE APARTMENTS

1. 2/6 Wellington Crescent, East Melbourne $1,360,000
2. 13A Rose Street, Highett $1,228,000
3. 2/64 Burke Road, Malvern East $1,157,000
4. 1/33 Myrniong Grove, Hawthorn East $1,150,000
5. 50 Were Street, Brighton $1,135,000

THE FIVE CHEAPEST APARTMENTS

1. 16/6 Garnet Street, Brunswick $229,500
2. 7/116 Inkerman Street, St Kilda $235,000
3. 8 Elinda Place, Reservoir $265,000
4. 12/42 Middle Road, Maribyrnong $290,000
5. 6/3 Denbigh Street, Frankston $295,000

Source: REIV