Hotly contested homes in Essendon and Aberfeldie are drawing pre-auction offers, multiple bidders at auctions and even some online buyers.
The market has remained buoyant in these Moonee Valley suburbs, in Melbourne’s northwest, with good-size family homes in popular demand, according to Barry Plant Essendon director Bill Karp.
“We aren’t seeing the doom and gloom that’s being reported across the media, at least not in our suburbs anyway,” he said.
“There is a really strong demand for good quality, larger family homes, with limited stock on the market.”
An impressive sale was 32 St Kinnord Street, Aberfeldie, which went under the hammer with two keen bidders battling it out for the keys on May 27
The charming Californian bungalow was called on the market at $1.785 million and sold for a whopping $1.84 million after 22 bids.
The three-bedroom home retains many original features, including the weatherboard façade, stained glass panels and ceiling roses. It seamlessly blends contemporary finishes with updated flooring, stylish bathrooms and quality SMEG and Bosch appliances.
A stunning, modern house at 80 Bradshaw Street, Essendon, sold for a jaw-dropping $2,760,500, after an offer was presented to the sellers three days prior to auction.
The new, five-bedroom masterpiece is a prime example of a highly sought-after property in today’s market, Mr Karp said.
“People are looking for turnkey homes, and properties that need a lot of work aren’t as desirable,” he said.
“These new, renovated or really well-maintained homes are extremely popular, and we are seeing really good numbers at inspections.”
Another beautifully renovated, Californian bungalow at 20 Balmoral Street, Essendon, passed in on a vendor bid, but sold immediately after the auction to an Echuca buyer watching on via Gavl’s auction live stream.
“Properties are still selling well, we are not seeing any major signs of stress,” Mr Karp said.
“People are choosing to sell for all different reasons, not just because of interest rate rise pressure…circumstances change, as they always do.”
Meanwhile, the Barry Plant Group reported a strong clearance rate of 81 percent from the last weekend of May.