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When it is a quoted range it is often out by that much on the high side, saw a unit quoted as $350-$400k sell on the weekend in Nunawading, it got $492k. That is a 23%-40% underquote. A similar unit not far away (Mitcham) got the exact same price 2 weeks earlier, 492k. If I remember the quote on...

Still sounds like a mightly underquote, $480-520k for a renovated house in east doncaster? Even with the small land size it is hard to fathom how these quotes can be justified.

Very true, the added buying pushes all the surrounding stuff up, even if the Chinese wouldn't normally be interested in those homes.

I've never heard of either school being seen as particularly good before?

I think to some degree. It is also bordering the private school belt of Kew and there is a constant flow of new or close to new 2 storey houses on the market (which seems to be mainly what they like), plus lots of other houses that could be easily knocked down.

I think not many. For the people who do I think they'll have alot of trouble getting back into Melbourne if they ever wanted to.

The thing is though they are are "under" consistently, and by a margin that has grown of late. Personally I haven't seen much lately that I would consider irrational, just a market that is up 20% from 6 months ago. I don't think anyone expects that to be "exact" but they should be roughly right...

Interesting, I once bidded in an auction against a buyers advocvate doing golf swing moves. Always wondered who who was. Do you know his second name or website? He was good at what he did, especially bidding in confusing increments and starting off with an unusual bid amount.

It has been made worse over the last 12 montsh but weren't inner areas always largely out of reach to first home buyers? To me it wouldn't make much sense if the average first home buyer could afford a house a "reasonable" distance ot the CBD. It would be like someone just out of uni expecting...

If it is this house below then was it really a million dollar build or was your friend the actual builder? Even englehart quote $1600-$1800 sqm and that looks to be 60-70 sq or so at a somewhat higher quality than the standard stuff. Would have guess $2300-$2500 sqm in today's money just...