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Buyers responding to latest price rises

If you’re a regular reader of these posts you’ll know that we have been reporting on the clear sense of urgency that so many home buyers are demonstrating in their search for a property in Melbourne’s north-west.

The chances are that this sense of anxiety will increase even further in the coming weeks once buyers get their heads around the latest house price data from the REIV which was released during the week. This data showed that Melbourne’s median house price rose by 9.5 per cent in the December quarter alone and is now at its highest level ever.

Data like this provides further confirmation of the imbalance between big numbers of buyers and a shortage of property for sale that we have been reporting since the lockdown was eased last year, so it’s no surprise that our team has continued to achieve some outstanding sales results for our vendors in recent weeks.

These have included:

Caroline Springs: Meyers Lane. Positioned right in the heart of Caroline Springs where easy access to the lakes, walking trails and Shopping Centre are a real benefit, this low-maintenance four-bedroom town residence (pictured) was a modern, hassle-free option for first home buyers and investors alike. So it was no surprise to see how quickly the SOLD sign went up during the week.

Hillside: Breeze Terrace. With so many young families keen to make use of the Government incentives for those building a new home, demand has been strong for vacant homesites in the area. This 635sqm block in the Stonybrook Estate was a prime example, with the contract being inked at $492,500.

Hillside: Golden Way. Maintained with plenty of pride and located in the popular Bellevue Hill Estate, within walking distance of Hillside Primary School, this appealing double-storey four-bedroom home attracted plenty of attention from young families. A very satisfying sale was soon completed at $661,100.

St Albans: Fox Street. One of a group of three brand new residences that have been constructed just down the street from St Albans North Primary School, this good looking three-bedroom townhouse is set to welcome its first residents after a strong mid-week sale was negotiated in the low $600,000’s range.

Taylors Hill: Domain Way. With heritage influences in the architecture and a location that put you within walking distance of three schools and the supermarket, this single-level four-bedroom home was a popular topic among buyers from the moment it hit the market. The keys changed hands in the high $600,000’s.

Clearly, it’s a great time to be selling if that’s part of your plan for 2021. However, it still takes a carefully planned campaign with experienced agents to maximise your result, so if you are considering taking that step don’t hesitate to give the team at Barry Plant Caroline Springs and Taylors Lakes a call this week on 9307 4000.

Best wishes,

James Hatzimoisis & John Aaron Nakic

Directors – Barry Plant Real Estate

Caroline Springs, Taylors Lakes & St Albans