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Market still strong for quality family homes in Heathmont & Ringwood

Corporate - Home Page
17 August 2022
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Lack of supply of family homes gives sellers price boost

While many suburbs have seen buyer demand fall, Heathmont and Ringwood family homes are still commanding high buyer interest and strong prices.

On August 6, the auction of 41 Waterloo Street, Heathmont, drew a big crowd and eight registered bidders, as the home went on to fetch $1.275 million.


Four bidders managed to join the auction and gave the seller a $75,000 premium above their reserve.

“The auction started at $1.1 million and I was expecting a $1.2-$1.25 million result but it went beyond that,” Barry Plant Heathmont & Ringwood director Louise Carrigg said.

“The buyers are a young couple from Ringwood East who will move from a unit to this family home, and be closer to family and friends.”

The beautifully renovated house on 737sq m had wowed 100 groups at inspections with its character, style and presentation plus a gorgeous yard with outdoor lifestyle extras, including a chicken coop and a pizza oven, Ms Carrigg added.

She noted that the market in the outer-east region was robust for quality family homes in good locations.

“Such listings are in short supply but the market is strong, and we have many good buyers coming to the area, with listings well attended in Heathmont, Ringwood East and Ringwood,” Ms Carrigg said.

“There is a mix of buyers ... some coming to the area from the city and from the surrounding areas.”

While the number of auctions has slowed, many private sales attract multiple offers in the area.

“Many of our listings have sold or are about to be sold and we advise sellers to focus on the presentation of their properties because it is the common denominator in getting good prices,” Ms Carrigg added.

On the same day, several bidders also contested a Nunawading home that was on the market for the first time since it was built 61 years ago.

Siblings who grew up in the well-loved home at 32 McCulloch Street sold the property, which features an extension by the same architect who designed the original house.


The Barry Plant Blackburn listing fetched $1.355 million with strong interest pushing it well above the seller's expectations.

And on the Mornington Peninsula, 2/37 Grenville Grove, Capel Sound, attracted five bidders and it sold for $1.035 million. The Barry Plant Rosebud listing had a seller’s reserve of $960,000.


Corporate - Home Page
17 August 2022
Save Article

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