Townhouse in Highett,VIC sold for over 25% margin

This townhouse sold for 585k in highett in Auction over the weekend. I have been closely watching this suburb and the last one in this block had sold for 462.5k only about 6 months ago.

http://www.realestate.com.au/cgi-bi...c=&c=14017483&m=1&s=vic&snf=rbs&tm=1260733222

I still think Highett is undervalued as a suburb.
Thoughts on this place anyone?

Its not my cup of tea. There are alot of factories in that particular area.

Me personally prefer to be near beach and station and for that money I can get something around the mordialloc/aspendale area. I may be in the car or on the train for 10mins more, but living near the beach exceeds that cost in my opinion.
 
Agree aussierogue. Not undervalued for 6 months or more. I looked there and Moorabbin about six months ago. Things have moved on.
 
Yeah pretty commercial up that part of highett, however im a big fan of the suburb.
In regards to price, thats what its worth as someone has paid that so s/he has valued it. Something is worth only what someone will pay for it..in this case 585k
 
I am in a consolidation phase and am not in the market to buy. I am still surprised by what places are selling for nowadays.
 
highett

Highett has always been undervalued - there are nice areas in highett that are equivelent of sandringham and hampton for 500k less price - stuff that is literally 400m away.
unfortunately trying to change peoples perceptions of areas is hard. I still reckon highett is an awesome area - quaint shops and a general nice area
 
Ridiculous $$ people paid for these crowded ugly flimsy dog boxes, you can hear your neighbour flushing the toilet, a unit in Doncaster East sold for $620K.
 
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