A mammoth “neoclassical” mansion in Balwyn North has hit the market as Lunar New Year holiday-makers boost the buying pool.
The commanding five-bedroom, five-bedroom house at 7 Tower Rd has a $6.3m-$6.68m price guide that would place it among the sought-after suburb’s most expensive sales.
Ray White Balwyn North agent Helen Yan — last financial year’s top woman in real estate with almost $350m in sales — said the property would attract the Chinese market.
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“They are already here, or maybe just got here; because it’s holiday time they come from China for two weeks’ holiday and they’re going to buy property,” she said.
“Normally the wife and kids are here and the husband is in China, and now is the time for the husband to come over and stay for two weeks and buy a property.”
Ms Yan said buyers so far had been attracted to the home’s high quality, intricate detailing and hydronic heating, with Balwyn North popular for its public school zone and private school proximity.
Sellers Chris and Yvonne Laukart said they had seven children and eight grandchildren and had entertained as many as 40 people in the grand open-plan living and dining area.
“Chris had in mind memories of his time in Europe and the neoclassical architecture he had always admired,” Ms Laukart said of the design.
“We knew immediately that this was the perfect lot for this type of design and Chris worked closely with Andrew Pavitt, an amazingly talented architect, to achieve every aspect of this classical design while still accommodating our practical living needs for our large family and lifestyle.”
Ms Yan said the Lunar New Year period was like Christmas in the west, with families having about three weeks holiday.
She said transferring money out of China was still an issue, but hoped the market would pick up this year.
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Story Credit: news.com.au