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Influx of first-home buyers at winter auctions

11 July 2024
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First-home buyers have been busy putting their hands up at winter auctions across Melbourne.

Confident online bidder snaps up first home in Mill Park.

They are now more confident to purchase as interest rates have been put on hold, according to Barry Plant Mill Park-South Morang agent Imogen Hammond.

“There are more first-home buyers making enquiries, inspecting homes and bidding at auctions,” she said.

Four of the five bidders who competed for the keys to the two-bedroom unit at 1/6 Patmore Court, Mill Park, on July 6 were first-home buyers.

“The bidding was strong and fast-paced,” Ms Hammond said.

“And the property sold to a first-home buyer for $596,000, above the $580,000 vendor’s reserve.”

SOLD 1-6-patmore-court-mill-park-vic-3082

The buyer from Greensborough, who was on holiday in Sydney, was keenly bidding online, Ms Hammond added.

“He was over the moon as he had been looking for a few months,” she said.

The property attracted strong interest from first-home buyers, with about 50 groups inspecting the well located and renovated home.

Also in Mill Park, three first-home buyers battled with an investor and a second-home buyer for the neat two-bedroom unit at 3/38 Moorhead Drive.

SOLD 3-38-moorhead-drive-mill-park-vic-3082

The second-home buyer from Epping bought the property for $532,000, a sum well above the $460,000 seller’s reserve.

In Williams Landing, a first-home buyer outbid an investor to win the keys to a four-bedroom home at 13 Almondberry Way.

The property sold for $715,711, a result above the vendor’s reserve, according to Barry Plant Point Cook agent Chris Jarvis.

SOLD 13-almondberry-way-williams-landing-vic-3027

“The buyer was a single gentleman from Williamstown,” he said.

“He was determined to secure the property because it offered good value in one of Williams Landing’s premier pockets.”

The low-maintenance double-storey home is near parks, wetlands, train station, town centre and freeway access.

And in Kilsyth, first-home buyers are the new owners of a three-bedroom house on a large 919sq m at 32 Jacaranda Avenue, which sold for $780,000, within the seller’s expectations.

SOLD 32-jacaranda-avenue-kilsyth-vic-3137

The young couple from Mooroolbark had been hunting for their first home for a couple of months, according to Barry Plant Whitehorse agent Declan Treacey.

“They were keen to secure a home quickly as they were expecting their first child,” he said.

Offering endless possibilities at an attractive price point, the property in a quiet area with views of the Dandenong Ranges attracted strong interest from builders, developers and first-home buyers.

“It is a versatile home in a good spot and it came with planning permits to build at the back,” Mr Treacey said.

“The buyers will move in and eventually renovate the house.”

The property market in Kilsyth is ticking along and homes in this price range are in hot demand, according to Mr Treacey.

11 July 2024
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