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‘Autumn the new spring’: Listings rise with seller confidence and buyer demand

Real estate & property news
24 March 2021
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Knox and Monash suburbs record strong results and more homeowners listing

Seller confidence is back in Knox and Monash and it’s beginning to look like a very different autumn market this year.

With buyer activity and strong prices resembling a spring market, there will be more opportunities for buyers in coming months, according to Barry Plant Wantirna director, Brendan Murphy.

“Autumn is the new spring, with more listings coming on the market,” he said. “The number of homeowners asking for appraisals has grown significantly.”

Mr Murphy recently listed seven properties for auction in a week.

“Autumn traditionally has fewer properties for sale but last spring was impacted by the lockdowns and the market started to pick up from October,” he added.

“Buyers are excited and enthusiastic to purchase and sellers are more confident of the market now.”

Mr Murphy said, if the trend continued, “it will be a very busy year ahead and now is a great time to sell”.

The agency sold all three homes under the hammer on March 20. In Wantirna South, 13 Tilba Place fetched $1.25 million with eight bidders registered.

“The bidders were mainly owner-occupiers attracted to the beautiful entertainer’s home, ideal for a growing family,” Mr Murphy said.

“A family from Pakenham who bought the home will be moving to the area.”

The result was well above the $1.05 million reserve price set by the owner of 24 years.

“It was a strong price and more than the seller or I had anticipated,” Mr Murphy added.

Meanwhile, a young couple who sold their townhouse five weeks ago and welcomed their first child, have secured 94 Milpera Crescent, Wantirna, for $1.065 million. There were six buyers registered to bid on the day and the sellers were thrilled with the result.

Over in Glen Waverley, 9 Greenwich Court - a house of more than 40 years old and in original condition fetched $1.341 million under the hammer, with six bidders competing and another two interested buyers on the sidelines.

The owners paid $55,500 for the property in 1981, sales records showed.

“The vendors are incredibly happy with the result and are downsizing in the same area,” Barry Plant Glen Waverley agent Ryan Yan said.

“The buyer is an investor who will rent out the property, while two of the bidders only saw the property on the day.”

Mr Yan said auction listings were getting four to five bidders each and Glen Waverley home prices have risen 10 per cent since last year.

Real estate & property news
24 March 2021
Save Article

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