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Impatient buyers drive pre-auction blitz in the northwest

Real estate & property news
10 March 2023
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Hillside gems on same street up for long weekend auctions

The autumn market in Melbourne’s northwest has kicked off to a fine start with sellers reaping rewards from pre-auction sales.

Fewer properties for sale is driving stronger buyer competition, according to Barry Plant Taylors Lakes director James Hatzimoisis.

“There are clear signs of a strong underlying buyer confidence,” he said.

“And because of the low supply, prices are holding up, which is great for sellers.”

All the properties scheduled for auctions during the first week of March sold well before the day to buyers who made strong offers that proved irresistible to sellers.

A three-bedroom house at 4 Tulloona Street, Fraser Rise, attracted strong interest when it hit the market, and sold for $820,000 during the second week of the marketing campaign.

Two buyers made early offers and the keys went to a young family wanting to upgrade in the area.

“The deal was sealed quickly and the home sold at a really strong price,” Mr Hatzimoisis said.

And in Hillside, a four-bedroom house at 3 Pembury Way, was snapped up for $895,000, several days before the auction.

The property sold above expectations to buyers who wanted to upgrade within the prized The Parks estate, according to Mr Hatzimoisis.

Many buyers were locals wanting to stay in the area and upgrade, while others were first-home buyers with substantial deposits who were moving ahead with their plans of home ownership.

“There are buyers so keen to purchase they are making substantial offers before auction day,” he said.

“Those who put their property on the market this season could achieve outstanding results.”

The office is holding several auctions during the Labour Day long weekend, including two Hillside properties on the same street, which are attracting strong interest from family buyers.

Both homes are located in Glenbruar Drive, in the desirable Banchory Grove Estate, and have price guides of $750,000-$800,000 each.

“People won’t need to travel far to attend both auctions, which are set an hour apart,” Mr Hatzimoisis said.

“And those who are away on the long weekend, will have the chance to bid online.”

Up for auction on March 11 at noon, the single-level four-bedroom house on 650sq m at 98 Glenbruar Drive, offers an ideal layout for growing families.

It has a formal lounge room, a vast family and dining zone with a gas log fireplace, plus a theatre room with a surround sound system.

A few doors away at 83 Glenbruar Drive, a striking four-bedroom double-storey house on 675sq m will go under the hammer at 1pm.

The beautifully presented house displays spotted gum floors, high ceilings, plus a large kitchen with modern appliances overlooking an entertainment area.

Both homes are near quality schools, including Overnewton College, Sydenham-Hillside Primary, Copperfield College and Cana Catholic Primary.

Parks, transport, Watergardens Shopping Centre and access to the Calder Freeway are nearby.

Real estate & property news
10 March 2023
Save Article

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