It was only last week, in OUR REGULAR WEEKLY UPDATE, that I was providing some insights into the latest ABS figures on home lending to first home buyers, and how they suggested that market entrants were still active despite some of the economic challenges we are dealing with at the moment.

So it was interesting to see several aspiring market entrants among the buyers gathering at our auction this week of a two-bedroom single-level unit in the heart of Reservoir.

The location here was “convenience with a capital C”, being a short walk from Ruthven Station as well as enjoying good access to shops, cafes parks and schooling. So it was no surprise to have received strong enquiries throughout the campaign from a mix of first home buyers and investors, as well as a few local downsizers.

The unit itself made a positive impression on buyers with polished timber floors, lots of natural light, a well-appointed kitchen and a private courtyard with undercover entertaining.

In the end, three bidders competed at the auction with a couple of others missing the chance to raise their hands due to the competition, so it didn’t take long for the contracts to be inked at $587,500. As you can see from the photo, the successful young couple were very happy to have secured their place on the property ladder and are looking forward to moving in soon.

Results like this show just what is possible in the current market, whether you are looking to secure your first home, or you are considering selling a property that might fit within the price range of the market entrant. So if you are looking for help in achieving your property goals in 2024, don’t hesitate to give our team at Barry Plant Thomastown a call this week on 466 3233.

We’d love to be of assistance.

Best wishes,

Con Constantinou

Barry Plant Thomastown