Auction action ramps up for Barry Plant agents in autumn
Melbourne auction volumes triple for the first autumn Saturday
Autumn will kick off with hundreds of auctions by the Barry Plant Group over March.
It starts with a whopping 96 properties headed for auction on March 5 by the network of offices across Melbourne, Adelaide, Geelong and regional Victoria.
Barry Plant agents have seen a strong auction market in February and this is expected to carry over to March and April.
This is due to strong prices and demand from buyers, enticing property owners to list their homes for sale. Many sellers are also keen to secure deals before interest rates rise.
A total of 1205 auctions are scheduled in Melbourne on March 5, triple the numbers at the same time last year, according to Domain Research.
With 2339 auctions planned in Australia’s capital cities, this Saturday is the second busiest on record with volumes almost double compared to last year.
Five properties were set to go under the hammer by Barry Plant Bundoora, with one already sold before auction.
The property has attracted strong interest from across the northern suburbs, with 60 groups attending the open-house inspections, including young families upgrading and buyers downsizing.
“It’s had an impressive renovation and looks near new,” Mr Egan said.
“There is high demand for well-presented homes.”
Up for auction at noon, the property in a quiet pocket near a park and lake features a sleek finish, multiple living areas, a smart stone kitchen, and a shaded entertainment deck leading to a leafy low-maintenance garden.
Barry Plant Sunshine scheduled seven properties for auction on Saturday, with one sold before auction.
A good turnout is expected at two Braybrook homes, including a four-bedroom house at 17 Hargreaves Crescent, with a price guide of $760,000-$820,000, and a two-bedroom house at 52 Joy Street, with $850,000-$880,000 price hopes.
Both older-style potential-packed properties are in prime positions and are expected to be highly contested by homebuyers and investors, according to agent Justin Luciew.
“These homes are well priced and offer good value,” he said.
“They have scope to be transformed into new homes or a multi-unit development.”
Family homes in the area are attracting strong interest, particularly those with development potential.
Local investors and homebuyers are eyeing the four-bedroom house at 6 Fulton Retreat, Sunshine North, with an $840,000-$880,000 price guide.
Currently a rental property, it is a standout in the quiet court because of its stylish design, according to Mr Luciew.
The house includes two bright and spacious living areas, an upper-level fourth bedroom or home office, plus a pergola for outdoor entertaining throughout the year.
While larger houses on bigger blocks are in high demand in the area, there is currently less interest in apartments, according to Mr Luciew.
“Buyers are wanting more space and properties without body corporate fees,” he said.
With more homes coming on the market, Mr Luciew expects a busy autumn season ahead.
In the southeast suburbs, five auctions are being held by Barry Plant Noble Park-Keysborough and another six by the Mentone-Cheltenham office on March 5.
In the eastern suburbs, Barry Plant Manningham has 10 properties up for auction via several offices, while Barry Plant Wantirna has six auctions.
Barry Plant agents have reported strong auction clearance rates over the summer, with some offices returning perfect clearance rates over several weeks.