The Barry Plant Group sold over 1000 properties last month, with 24 of the Group‘s 80 offices celebrating a record August, pointing to an ever-strengthening property market in Victoria. The number of sales increased nearly 21% above August last year, and value of sales was up by a massive 34% over the same time last year, further underlining the strength of the market.
“Sales growth is showing no signs of levelling off,” said CEO Mike McCarthy. “In fact, it appears to be gaining momentum.” “We saw a strong start to the new financial year in July, and August was even stronger,” Mike said.
“Growth continues unabated, particularly in the middle to outer suburbs.” The increase in the group's average sale price continues its spread to the middle and outer suburbs and pockets of regional Victoria, with a 12.5% increase over the same time last year to $595,000.
Among the offices to enjoy record sales figures for August were Altona Meadows, Boronia, Pakenham, Doreen and Woori Yallock-Healesville to name a few. “Growth is being driven by a number of factors,” Mike said.
“Continued low interest rates, combined with a shortage of supply over the winter months and ongoing interest from overseas investors.” The spring market is off to a promising start with strong activity reported in all areas and price ranges.