Buyers bullish despite lockdown as clearance rate soars
Barry Plant Group scores 95 per cent clearance amid lockdown
The snap lockdown did not dampen buyer enthusiasm as the Barry Plant network scored an impressive 95 per cent clearance rate.
Of the 94 properties that went under the hammer on May 29, only five properties failed to sell.
There were other properties due sell on the 29th but some were sold prior to the auction while some auctions were brought forward to a time before lockdown commenced.
The Barry Plant group has averaged 80-85 per cent clearance rates recently as a consequence of strong demand and limited supply.
Several agents held auctions on-site on Thursday evening before the lockdown or took offers before Saturday.
In the outer-east, the vendors of 83 Landscape Drive, Boronia, received five offers and the 54 year old property sold on May 28 for $810,003.
The vendor, a 95-year-old woman who is moving in with family, lived at the home that features a space where the family used to make and cure salami, Barry Plant Boronia agent Rodney Pickard said.
“It had an accurate price guide of $720,000-$780,000 and sold above expectations,” he added.
“The new owners are first-home buyers from Belgrave South who had missed out on a few homes.”
In Wantirna, 55 Amesbury Avenue also drew five offers and sold unconditionally for $903,000 the same day.
The best offers came from two first-home buyers, including the new owners from Ferntree Gully who hoped to renovate the single-level, four-bedroom house.
On May 29, Mr Pickard also sold a three-bedroom unit at 2/65 Stewart Street, Boronia, for $700,250, which was well above the vendor’s price expectations.
An online auction on May 29 for 5 The Mews, Wantirna, attracted 13 registered buyers and went on to fetch $1.19 million.
“We were confident as the home had more than 80 groups at the inspections over three weeks,” Barry Plant Wantirna auctioneer Brett Smith said.
“The bidding was strong and it sold to a young couple expecting their first child.”
Another online auction nabbed a $758,000 result for 21 Carrara Road, Rowville, after 19 buyers registered.
It came down to five bidders – developers and first-home buyers – and sold well above expectations.
Barry Plant agents are very comfortable with conducting online auctions after great success from the previous lockdown, Mr Smith said.
“We adapt to each situation and do what’s best for our vendors, whether it is to bring forward an auction, do an online auction or sell prior,” Mr Smith added.
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