Homeowners in a family-friendly south-east suburb are almost guaranteed to land multiple buyers when they list their properties.
While many other suburbs have been adversely impacted by interest rate rises and lower demand, Rowville has remained a top performer.
The suburb’s auction clearance rate was 93.6 per cent from 110 auctions in the first eight months of 2022. A total of 103 properties sold on auction day or before going under the hammer, according to Real Estate Institute of Victoria data.
The Barry Plant Sale by SET DATEⓇ method has been equally effective, with Barry Plant Rowville reporting a 98 per cent success for such listings this year, according to managing director Brenton Wilson.
“The properties are sold prior or on the Set Date, and the market has been very strong with an average of three buyers for each sale in August,” he said.
“While auctions are popular, we find our sellers prefer to sell using our exclusive SET DATEⓇ method as this gets them better prices and buyers have to put in their best offers.”
The agency, which has a commanding share of sales in the suburb and neighbouring Lysterfield, has a higher than average number of buyers per listing than in most other areas.
Mr Wilson noted Rowville’s relatively newer and affordable homes plus good infrastructure with schools, shops and road links made it a favourite of buyers looking in the city’s south-east suburbs.
“However, the number of homes for sale in the suburb and nearby areas has tightened and this means prices and the clearance rate will remain high,” Mr Wilson added.
He cited the recent sale of 6 Glenlea Close, Rowville (pictured below), which was on the market for just one week.
“It had 13 offers and sold three weeks before the set date, and the attraction was that it was fully renovated and had a four-bedroom, two-bathroom and double garage setup,” Mr Wilson said.
“It was an original home of more than 30 years but was renovated and sold for $1.223 million.”
The first owner paid $44,000 for the block in 1988, sale records showed.
Another popular listing was 42 Armstrong Drive, Rowville (pictured below), in Silkwood Estate, which had six offers and sold for $1.275 million.
“Quality renovated homes and acreage properties are sought after in the area, and buyers are staying away from homes that need a lot of work,” he added.
Another outstanding sale was 36 Heritage Way, Lysterfield (pictured above and below), which despite its older Victorian-style design, sold for more than newer homes in the suburb.
The five-bedroom house with an indoor pool and set on 1625sq m fetched more than $2 million.