Buyer demand for homes in Brimbank suburbs is far from cooling down in winter.
Buyers are still very active even now when the rush is over to secure a home before June 30, when the stamp duty discount incentive ended, Mr Tran said.
“We are experiencing one of the busiest winters in years, with opens well attended and auctions attracting multiple bidders, particularly for homes priced below $650,000,” he said.
The high demand for the low supply of homes on the market is pushing up prices, with properties selling above owners’ expectations.
With a median house price of $640,000, St Albans is an affordable property hotspot, especially for first-home buyers. Its three train stations, the Alfrieda Street shopping hub, quality schools and Victoria University, are also driving factors.
Two St Albans properties recently changed hands beyond their owners’ price hopes at in-house auctions brought forward because of the latest lockdown.
“We conducted the auctions at our office on the Thursday night before the lockdown and sold both homes,” Mr Train said.
Three local first-home buyers competed for a three-bedroom house at 62 East Esplanade, St Albans, which sold for $621,000 to a young couple attracted to its proximity to the train station and shops.
“They were over the moon because they had been looking for a home for six months,” Mr Tran said.
“It’s tough for first-home buyers to get into the market with so much competition around.”
Four first-home buyers were defeated by a second-home buyer in a battle for 71 Marshall Avenue, St Albans, which sold for $679,000.
“A young couple looking for a larger home to start a family loved the four-bedroom house on good-sized 650sq m of land,” Mr Tran said.
During the lockdown, a modern three-bedroom townhouse at 58 Oakden Crescent, St Albans was snapped up by a young family for $575,000.
“They were attracted to this property because it is near the train station and within walking distance of Victoria University,” Mr Tran said.
With a median house price of $565,000, neighbouring Kings Park is also a magnet for first-home buyers.
Sold prior to auction for $625,000, a three-bedroom house near schools and parks at 22 Balnarring Drive, Kings Park, attracted three bidders who were first-home buyers.
Those who sold their homes this winter have achieved results beyond their expectations, Mr Tran said.
“This is a good time to sell because there is not much competition around and plenty of buyers out there wanting to secure a home,” he said.
Presentation and pricing are key factors to consider when selling a home, Mr Tran advised.
“Sellers need to be realistic about how much they want for their home and we can help them with pricing based on comparable sales in the area and current market conditions,” he said.
“A positive outcome also comes down to presentation, so keep everything nice, simple and bright, declutter, and if the property is empty, it is advisable to stage it with hired furniture”
Up for auction on July 31 with $500,000-$550,000 price hopes, a three-bedroom house at 317 Main Road West, Albanvale, is drawing strong interest from first-home buyers.
“This stylishly updated house is well presented with a neutral décor, and we expect it to sell well,” Mr Tran said.