Chat with us, powered by LiveChatWinter windfall gains for Deer Park and Cairnlea sellers | Barry Plant

Winter windfall gains for Deer Park and Cairnlea sellers

Brimbank market stays hot in the cold

The property market is heating up even as the temperature drops in Brimbank suburbs.

Deer Park and Cairnlea homeowners who sold in June achieved outstanding results, according to Barry Plant Deer Park director, Ross Vorrias.

“June was the best ever in terms of sales, and the market is showing no sign of slowing down through the winter months,” Mr Vorrias said.

“There are still plenty of buyers out there, and many have already sold their homes and are actively looking to buy now.”

Affordability is a key factor attracting buyers to Deer Park, where the median house price is $600,000, and to Cairnlea with a $777,500 median.

While prices have increased significantly in the two suburbs in the past six months, they are still below the $839,000 median in neighbouring Sunshine.

“Buyers are now looking to Deer Park and Cairnlea where they can get the same house for much less than in nearby Sunshine or St Albans,” he said.

A young family from St Albans snapped up a four-bedroom house at 24 Dunbarrim Avenue, Cairnlea, for $909,888, at an online auction on June 5. Six bidders pushed the price $60,000 above the seller’s reserve.

“All the registered bidders had a chance to put up their hands, and the auction drew 80 bids, an unusually large number for this area that averages 15 to 20 bids per auction,” Mr Vorrias said.

The property attracted strong interest and sold beyond expectations because there is a shortage of quality move-in-ready single-storey homes in the area.

In Deer Park, seven bidders battled on June 26 for a modern three-bedroom house at 1 Katrine Place, which sold to a city investor for $725,000, well above the owner’s price hopes.

Relatively new and well cared for, the one-owner home attracted fierce bidding from first-home buyers and investors.

“The buyer plans to rent out the property for about $440 a week before he moves in,” Mr Vorrias said.

Four local buyers made offers to buy an older-style four-bedroom house at 131 Tamar Drive, Deer Park, which sold for $684,000 to second-home buyers wanting a larger property.

“While it was in need of an update, the buyers paid much more than the owner wanted to secure the home,” Mr Vorrias said.

Homeowners will benefit from a winter sale as there is an influx of buyers and a low supply of properties on the market.

“This is a good time to list your home as there is not much competition around,” Mr Vorrias said.

“If you’re planning to wait till spring, when many homes will flood the market at once, yours might sell for less than you could get now.”

Up for auction on August 7, a three-bedroom house at 6 Ferris Avenue, Deer Park, priced at $550,000-$590,000, is attracting local first-home buyers and investors.

“It’s a well-presented family home with two driveways, ideal for those with caravans or boats,” Mr Vorrias said.

Presenting a house well for sale in winter is key to attracting and impressing buyers, according to Mr Vorrias.

“Declutter, make sure the rooms are nice and bright, the heaters are working to keep them warm and cosy, and use flowers to bring colour inside,” he said.

“A bit of a freshen up always helps but consult us first before spending too much on improvements.”