Alphington $252,000 sale the week's cheapest auction result for Melbourne

Georgia WestgarthJuly 16, 2013

Melbourne’s cheapest auction sale price last weekend was in the north-east suburb of Alphington, according to Australian Property Monitors.

Just a hop, skip and a jump from Kew and Ivanhoe, the unit at 6/40 Yarralea Sreet, sold for $252,500, with a starting price guide of $220,000 to $250,000.

Real estate vendors Hocking Stuart advertised the home as "offering affordability with a sought after location, live in with convenience at your fingertips, lease out with this popular location, all with an entry level price tag."

The light filled one bedroom apartment in the heart of Alphington features a kitchen with open meals area, lounge, master bedroom and bathroom as well as laundry facilities, car space on title and gas heater.

The apartment was last listed for rent in March 2013 for $250 per week.

The median price of units in the Alphington sits at $502,000, up over the past five years by 24%, with an average rental price of $325 per week, according to RP Data.

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