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February property market looking strong
Barry Plant Taylors Lakes  |  11 February 2017  |  Category: Market Update

February property market looking strong

Now that all of the kids are back at school, and pretty much everyone is back into the routine of the working week, it was no surprise to see activity in the property market stepping up an additional gear this week as well.

Whilst our auction volumes probably won’t be back to full speed for another week or two, this week’s activity certainly provided all the confirmation we needed that the buyers are back in big numbers, both at Open Houses and at the few auctions we conducted this week.

Among the more notable of the recent results were:

  • Caroline Springs: A rare double-storey warehouse style home in the popular Grove Estate achieved a very satisfying sale at $443,000.
  • Hillside: Two sales here included a 4-bedroom home on 647sqm in Montpellier Drive which was listed for auction, but was sold in the first week on the market for $600,000.
  • Plumpton: A well located 448 sqm homesite in the Sienna Estate with a choice of three Shopping Centres nearby was sold for close to $300,000.
  • St Albans: Three sales here included a well maintained 3-bedroom home in Glenmaggie Drive, across the street from the Reserve. This one attracted 6 bidders who drove the price to $585,000, more than 15% above the very happy vendor’s reserve! Other sales included a 3-bedroom home in Bent street where a sale price of $656,000 was also above the reserve, and a 2-bedroom unit in Adelaide Street which attracted strong interest from investors.
  • Taylors Hill: A stylish 7-year-old single level 4-bedroom home in John Robert Place (pictured) drew a great crowd, 4 strong bidders and sold for a very pleasing $696,000

The good news for buyers is that we do expect to see the numbers of available properties beginning to pick up in the coming weeks, although it’s fair to say that there are no signs of a drop in the competitive nature of the current market any time soon. So, if you find a property that suits your needs, our advice is to give it your very best shot. The longer you wait to buy, the more it’s likely to cost you.

Best wishes,

James Hatzimoisis & John Aaron Nakic

Directors – Barry Plant Real Estate

Taylors Lakes, Caroline Springs & St Albans

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