AFL defender’s Kensington home sells for $1.06m to first home buyers

A two-bedroom corner Victorian terrace in Kensington owned by North Melbourne defender Luke McDonald sold to first home buyers for $1.06 million at auction on Saturday.

Held by the Kangaroos player since 2018, 1 Albermarle Street has been updated throughout – with polished floorboards, a stepped open living and dining room, new kitchen and bathroom, and a landscaped garden – while maintaining its classic front.

The property was listed with a price guide of $900,000 to $990,000 on the last weekend before new legislation kicks in requiring vendors to advertise their reserve at least seven days before an auction. The new laws come into effect on October 16.

Nelson Alexander Flemington agent and auctioneer Ryan Currie said he had “pre-empted the new legislation” and told buyers during the week, as well as in his auction preamble, that the reserve in Kensington was $990,000.

Currie opened the auction with a vendor bid of $900,000, which was matched by a genuine bid. Another vendor bid took it to $920,000, followed by a genuine bid of $940,000.

From the moment it hit $940,000, Currie said, increments of $10,000 and $20,000 from the two bidders pushed it to $990,000 in less than 10 seconds.

The auctioneer declared the home on the market, and said the rest of the bids were so quick that “the whole auction was done in less than 40 seconds”.

“The vendor was sunning himself [on holiday],” he said, and McDonald’s sister attended the auction while on the phone to him.

McDonald and wife Brooklyn initially lived in the home and kept it as an investment. It was the first purchase for the buyers, a couple renting nearby, Currie said.

The property was one of 698 scheduled to go to auction in Melbourne this week.

In Armadale, a three-bedroom Edwardian home sold for $1.75 million at auction, with four bidders rocketing it more than $300,000 above its $1.44 million reserve.

Moments from both Glenferrie Road and High Street, 5 Stanhope Street features terracotta tiled floors, open-plan living and a bricked rear terrace with right-of-way access, and had a price guide of $1.35 million to $1.45 million.

Jellis Craig Stonnington agent and auctioneer Carla Fetter opened the auction with a $1.35 million vendor bid, and she said two bidders pushed up the price in $10,000 increments until it hit the reserve.

After the property was declared on the market, another two bidders joined the fray, and a mix of $10,000 and $5000 increments sent the home soaring $400,000 past the opening bid to sell to a young professional.

Fetter said bidders were a mix of couples and singles. The home was sold as a deceased estate.

She said the upcoming reserve disclosure requirement was a “massive change”, and expected some trial and error from buyers, sellers and agents as they “try to navigate” it.

“It’s about making sure we can still find a way to help our vendors sell for the price they’re happy with,” she said.