Business · Economy · 5 hrs ago

Prestige home sale reflects 20% fall on Victoria’s Mornington Peninsula

Prestige home sale reflects 20% fall on Victoria’s Mornington Peninsula

A clifftop home sold for $7.8 million six weeks ago after its owners had earlier turned down a higher offer.

The property is at 9 Bluff Avenue in Flinders, on Victoria’s Mornington Peninsula.

A year before the sale, agent Rob Curtain received a $10.25 million offer from the same buyer.

The owners declined the offer because of family circumstances at the time.

Across the peninsula, prestige property values fell about 20% over the past year.

The sale reflects a downturn in a wealthy housing market, and no further plans or next steps are reported.

Sources

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