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Buyer numbers a big surprise

There is no doubt that when the impact of the coronavirus first began to impact on our lives earlier in 2020, many people assumed that the property market around Melbourne would come to a shuddering halt.

What has been interesting is that not only have these expectations proven to be unfounded, but the underlying confidence among many home buyers has certainly exceeded many people’s expectations. In fact, if you saw the back cover of this weekend’s Realestate lift-out in the Herald-Sun, you’ll know just how much confidence there is among homebuyers, as a recent check of the Barry Plant network’s database showed that our group currently has over 820,000 buyers registered as looking for their next home!

That’s a lot of good reasons to approach the property market in Melbourne’s north-west if you are considering selling in the next few months!

One area that has been particularly popular with buyers recently is Hillside. We saw a gorgeous three-bedroom street-frontage townhouse in Armadale Place, offering easy access to schools in the popular Parks Estate, attracting plenty of buyer interest. The sold sticker went up at a very satisfying $510,000. Meanwhile over in the Banchory Grove Estate, a beautifully renovated single-level home in Wolviston Avenue drew many favourable comments from buyers for its flexible four-bedroom floorplan, its abundance of natural light and its well zoned living and entertaining areas. This one produced a highly competitive sale at $690,000. Of course, as we mentioned in last week’s report, our auction in Callender Way drew such strong interest that the vendors decided to accept an early offer of $805,000 rather than waiting for this weekend’s scheduled auction.

Another market segment that is attracting strong interest is the vacant land market, with many buyers keen to take advantage of the Government’s HomeBuilder incentives.

As you can see from the results above, and those our team has been achieving over the past few months, there are many different ways to approach selling in the current market, and all of them can be effective if you have the right advice and strategy from the start. So if you need any assistance in planning your next move, feel free to call on our experience at Barry Plant Barry Plant Caroline Springs and Taylors Lakes on 9307 4000.

Best wishes,

James Hatzimoisis & John Aaron Nakic

Directors – Barry Plant Real Estate

Caroline Springs, Taylors Lakes & St Albans