With the official start of Spring now just a matter of a few weeks away, the latest figures from PropTrack show that there were just over 820 property auctions scheduled this week. This was a clear step up on the 734 auctions that the REIV reported last weekend, recording a 71 per cent clearance rate in the process,

Importantly, PropTrack is also reporting that next Saturday, August 26th, will see our first ‘Super Saturday’ in Victoria since April. At this stage there are over 1100 auctions scheduled for that weekend with another 1000-plus auctions scheduled for the first weekend in September.

Numbers like these will be good news for so many of those frustrated homebuyers in Melbourne’s north-west who have been challenged by the ongoing shortage of new property listings we have experienced this year.

This shortage has continued to drive competition between buyers, as we have reported throughout the year. Recent reminders of this situation have included:

Fraser Rise: 23 Solstice Drive. Positively positioned directly across the street from parkland, this eye-catching four-bedroom double-storey home generated strong enquiry levels from upgrading families the moment it hit the market. Productive mid-week negotiations saw the SOLD sign go up at $930,000.

Hillside: 13 Waters Way. The popular Stonybrook Estate proved an appealing backdrop for this stylish four-bedroom dual-level home with an attractive outdoor entertaining area. This was another property to enjoy the benefits of a competitive negotiating environment, with the deal being concluded during the week at $900,000.

Sydenham: 9/553-555 Melton Highway. Conveniently positioned to provide easy access to a range of amenities including Watergardens, this three-bedroom townhouse attracted interest from a range of market entrants and investors before the keys changed hands at $440,000.

Keep in mind that if you are considering making a move in the coming months, there are real benefits to putting the key ingredients in place early and getting your timing right. Remember, Spring is a season with quite a few public holidays to work around.

So if you’d like an obligation-free update on what your property could achieve in today’s market, or to chat about the best ways to maximise your own result, don’t hesitate to get in touch with the team at Barry Plant St Albans a call this week on 9367 7044.

Regards,

John Aaron Nakic & James Hatzimoisis

Directors – Barry Plant Real Estate

St Albans & Taylors Lakes