Banyule Homestead went up for auction on Saturday 16th May 2015 and sold for $5.2 million. Unfortunately only registered bidders could gain access to the interior of the homestead on the day, leaving lesser mortals to mill on the lawns outside.
The auction was held at the rear of the property. Bidding started at $4 million, initially at $100,000 increments, then smaller. Progress was boosted considerably by a $500,000 bid that took it from $4.5 million to $5 million. It was purchased by a very young-looking couple for $5.2 million.
The view from the back is spectacular. There’s nowhere else that you can get this outlook which makes the loss of this property from public ownership and access even more regrettable.
The Age has a good article on the auction, complete with video.