Chat with us, powered by LiveChatThe new year is off to a flying start for the Barry Plant Group

The new year is off to a flying start for the Barry Plant Group

If the January results for the Barry Plant Group are any indication, the Victorian real estate market may be set for another strong year.

Following a record 5.286 billion dollars’ worth of property sales in 2014, the Group posted record results for the month with 2015 January sales figures topping last January’s in both number and value of properties sold.

The number of properties sold was up by 7.2% to 595, compared to the same time last year, and the value of those sales had increased by 13.1% to $277 million. The average sale price had also risen by $26,000 – 5.9% higher than January 2014.

“Industry sentiment is that it has generally been a quiet start to the year in real estate, so our January results are very promising,” said Group CEO, Mike McCarthy. “It’s pleasing to see a solid start to the year. It’s a positive sign moving into the first quarter and should give vendors more confidence if they are looking to sell.”

The 80-office network enjoyed an 89% clearance rate over the Valentine’s Day weekend, selling 25 out of the 28 properties auctioned. If the weekend’s results are an indication of what lies ahead, then the market may be well on its way to another bumper year.