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Winter sales heat up as buyers chase limited supply

Corporate - Home Page
02 July 2021
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`Crazy market’ as buyers hunt homes in Heathmont, Ferntree Gully and Boronia

Sixteen offers for a house and multiple bidders at auctions point to a hot winter market in the eastern suburbs.

Buyers swarmed auctions in Heathmont and Ferntree Gully while one Boronia home seller had 16 offers after only being on the market for two weeks.

June closed with a bang as auction numbers spiked with sellers trying to cash in on strong demand.

Young and mature families were out in force at the June 26 auction of 21 The Boulevard, Heathmont, which had been owned by the same family since the 1970s.

Five buyers managed to make bids with four more groups missing out because of the strong bidding, according to Barry Plant Heathmont and Ringwood agent Tamazin Edwards.

The four-bedroom house on 1088sq m fetched $1.7 million which was well above the seller’s expectations.

“The campaign was only for three weeks because of the lockdowns but there was plenty of interest because it was a quality family home and immaculately presented,” she said.

“Having a home office was very appealing to buyers as a work-from-home option and it also has views to the Dandenong Ranges.”

The sale price reflected the lack of supply in Heathmont and any property “that is well presented gets plenty of buyer attention”, Ms Edwards said.

The agency also sold 2/13 Sunbeam Avenue, Ringwood East, for $960,000, with the three-bedroom home on 338sq m attracting strong interest.

The last week in June was Victoria’s biggest winter auction week on record with 1580 homes scheduled to go under the hammer. The previous record of 1064 auctions was set in 2015, according to Real Estate Institute of Victoria figures.

June 26 was also the third Super Saturday in a row of more than 1000 auctions in the state.

Meanwhile, the vendor of 3 Denby Court, Boronia, received 16 offers for their three-bedroom house on 800sq m.

They settled for an offer of $847,000 with initial price expectations around the $760K mark.

“The property has a court location, is well-maintained and has a spacious layout,” Barry Plant Boronia agent Adam Percysaid.

“It attracted 112 groups at the inspections in just two weeks.”

The agency also had eight bidders turn up at 72AWindermere Ave, Ferntree Gully, which sold for $805,000 or $65,000 beyond the seller’s reserve price.

The three-bedroom property on 279sq m drew mainly young buyers with a first-home buyer from the city winning the keys.

“The market in Ferntree Gully is crazy and there is so much competition because of affordability,” Mr Percy said. “If you have a home to sell, we will sell it.”

The agency also sold a three-bedroom home at 2/11 Ozone Road, Bayswater, for $902,000, after it received four offers.

Corporate - Home Page
02 July 2021
Save Article

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