Chat with us, powered by LiveChatLess pressure on buyers to make speedy decisions in Waurn Ponds

Less pressure on buyers to make speedy decisions in Waurn Ponds

Author: Kate Johnstone - Geelong Advertiser

Figures showing properties are staying on the market almost twice as long as this time last year is good news for buyers.

Buyers have been given some breathing space in Waurn Ponds with homes staying on the market nearly twice as long as the same time last year.

New CoreLogic data shows homes in the suburb spend an average of 27 days on the market, compared to 16 days in 2018.

Barry Plant agent Deane Hughes said even though homes were on the market for nearly double the time, the number of keen buyers had increased.

“The good thing is there are more buyers to choose from,” Mr Hughes said.

“And there is not a rush any more — people can take their time.”

Mr Hughes said this was a good result for buyers who could now inspect homes without making a speedy decision or rushing to finalise finance.

“They can look at homes without having to make a decision on the day,” he said.

“Properties right across the board are taking a bit longer to sell and this is positive for buyers who are new to the market and need to do their research, they are not under as much pressure as last year and that is the whole market, that is everywhere.”

Mr Hughes recently sold two high-end properties in excess of a million dollars in the suburb. The median house price of $630,000 was up 13.5 per cent on last year and increased by 2.4 per cent in the past three months.

“Traminer Court sold for $1.51 million and a property in Lemins Rd sold for just under $1.6 million to set an area record,” he said.

The home on just over 1ha was bought by a local couple.

He said the Waurn Ponds train station and ring road were still major draw-cards for people moving in.

Source: news.com.au