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Flurry of first-home buyer activity in the north-west

Real estate & property news
25 April 2022
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Hectic auction action in Kings Park, St Albans, Deer Park

First-home buyers have been out in force in Melbourne’s northwest, swooping on auction properties in affordable areas.

Multiple bidders battled for a three-bedroom house at 28 Cromwell Road, Kings Park, which sold well beyond the owners’ expectations on April 9, according to Barry Plant St Albans agent Kevin (Tung) Ho.

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Four first-home buyers strongly competed for the property, including three who were living locally and one from Wyndham Vale.

The property sold for $770,000 to a local buyer because of its presentation and location opposite Cromwell Reserve, Mr Ho said.

“It was fully renovated and spotless throughout,” he said.

The home’s updated bathrooms, designer kitchen with quality appliances, and two decked outdoor entertainment areas were also drawcards.

On the same day in St Albans, a hectic auction contest saw five bidders fight for a four-bedroom house at 247 Sunshine Avenue.

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Fast and furious bidding among local first-home buyers and those wanting a larger home pushed up the price well beyond the seller’s reserve, and within 10 minutes the property sold for $802,000.

“This was a very good result,” Mr Ho said.

In a pocket popular with the Vietnamese community, the well-presented rental home of 611sq m has plenty of room for a growing family and is near the new Brimbank Aquatic and Wellness Centre.

And in Deer Park, a three-bedroom unit on an easy-care 239sq m at 2/40 Lake Boga Avenue, was snapped up for $551,000.

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One of two on the block and tucked away at the rear, the modern home offers privacy, bright living areas, security shutters and an alarm.

Demand is strong for affordably priced homes in Melbourne’s northwest, according to Mr Ho.

“There are many buyers out and about, and open house inspections are well attended,” he said.

St Albans, Kings Park and Deer Park, less than 19km from the CBD, are havens for first-home buyers, where the median house prices are below $700,000, according to realestate.com.au.

“Majority of these buyers have pre-approved finance and are ready to pay for well-presented homes at favourable prices,” Mr Ho said.

Up for auction on April 30, a large five-bedroom house on 769sq m at 16 Firbank Terrace, Albanvale, has a $570,000-$610,000 price guide.

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Within walking distance of Brimbank shopping centre, the property is drawing strong interest from first-home buyers and investors, according to Mr Ho.

“It’s attracting more than eight groups per open because of its size and room for growing families,” he said.

A huge carport, double garage and gated driveway perfect for work vehicles, boats and caravans, add to the property’s appeal.

Real estate & property news
25 April 2022
Save Article

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