Rear Lane Access…. Why is it so valuable in the inner-ring areas?

Yesterday’s two auction wins for two wonderful families had a few things in common. Both properties were inner-ring, period homes. Each client had experienced their fair share of disappointments in this tough buying climate.

Both houses were set on long blocks with rear laneways behind them.

Securing houses on laneways is a challenge in itself. Local planning authorities obviously have their controls in place, but the prevalence of laneway townhouses and clever subdivisions are challenging the availability of these deep, dual-access blocks particularly in these tightly held areas where families who cherish the deep yard or off-street car parking option hold onto their home for many years.

Gone are the days of seven year buying cycles.

In these cherished lifestyle pockets, families are adopting clever ways to create more space as opposed to facing the prospect of a ‘moving to the suburbs’. Great upper storey renovations flank the skyline in many inner-ring streets, from classic styled dormer rooms above Californian Bungalows, to architecturally designed master bedroom-ensuite-parent ‘retreat’ additions with suitable heritage-instigated setback.

In the case of yesterday’s exciting purchases, the key differences between our buyers were the reasons they valued the rear right of ways, and the plans they had to make use of this offering.

During the only half hour phase of the day in Melbourne’s inner-north when rain wasn’t belting in sideways,59 Dunstan Avenue Brunswick was placed on the market for public auction. This double fronted old house on 254sqm presented exciting opportunities for our clever investor couple who run a drafting business. The exciting options on offer, particularly based on a rear street access cross-over and period street-facing properties behind mean that a rear street development is a possibility pending Council approval.

Four buyers fought it out and my buyer, (who had bravely asked if she could try her luck with the bidding herself) was my lucky charm for the day.

The hammer fell on our bid and as the rain set in and the neighbours swarmed to ask what plans she had for the property, we quickly dashed inside to sign contracts.

Whether they renovate for short term renters, land bank, develop a larger home, build two townhouses, or restore the house to her former glory, the options are endless for this dynamo couple.

52 Emmaline Street Northcote on the other hand unfolded differently. Wet umbrellas adorned the glorious front entrance and buyers huddled in the expansive rear open plan living area anxiously awaiting the auctioneer’s call to host the auction inside. In true Melbourne form, the rain smashed down loudly and our auctioneer used his best ‘outside voiice’ to be audible.

Boasting stunning period Edwardian charm throughout, from cornice detail to beautiful stained glass, this property had been loved by its former owners. Our buyers had plans, but all in good time. The rear lane entrance would make a huge difference when the renovation time arrives, and they could factor in a significantly reduced level of complexxity for the newly built sections based on trade access directly from the back. The limited side entry width to the rear yard, combined with the semi-detached nature of the house would have precluded some of their plans had the Right of Way not existed. In addition, being so close to Croxton Train Station means that off-street parking is not always an easy option, and rear lane roller-door access for cars is always a valuable bonus for streets like Emmaline.

This gorgeous property had stolen many hearts and the buyer interest was palpable.

I knew I had competition.

All I could do was bid strategically to my limit, and make every effort to bid with such confidence that buyers wouldn’t bother resetting their limits.

And with focus, energy and determination, that’s what I tried.

Four buyers fought it out but it wasn’t until the property was called “on the market” and two had already dropped out that I stepped in with my first bid. I fought one buyer who was headstrong and determined all the way to the finish line. Happily once the hammer fell, I could breathe a sigh of relief and congratulate my teary, appreciative buyers.

That celebration glass of Jansz champagne at the local Peacock Hotel was one I’ll remember for a long time. It was a real pleasure to help this family relocate to Melbourne.

Wishing them years and years of happiness in their fabulous new neighbourhood.