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Five bidders per auction as Autumn arrives

As a record-breaking Summer comes to an end, and the traditionally strong Autumn property market makes its official launch on Monday, there are clear signs that the remarkably strong levels of buyer demand we have been reporting recently look set to continue for quite some time to come.

Not only can we report yet another 100% auction success rate for our vendors in the north-west over the past week, with five out of five auctions all exceeding expectations, but a quick count of the bidders confirmed that these auctions averaged more than five bidders per sale, ensuring that our vendors reaped the benefits of a highly competitive market.

Some of our most recent results included:

Albanvale: Bloomingdale Avenue. Six bidders fought it out at last Saturday’s auction of a run-down but potential-filled three-bedroom home. As a result, the price soared more than 10% above our happy vendor’s reserve before settling in the low $500,000’s.

Hillside: James Court. Attractively sited in a popular pocket of the Bellevue Hill Estate, this four-bedroom home had four bidders pushing the price all the way to $812,000 which was well over our excited vendor’s reserve (pictured).

Keilor Downs: Munich Drive. A fully renovated three-bedroom home attracted a huge crowd to watch nine bidders competing. The bidding opened at $580,000 and didn’t take long to be declared ‘on the market’ at $650,000, but there were plenty of stunned expressions when the bidding kept going all the way to a remarkable $753,000!

Maribyrnong: Horizon Drive. A modern two-bedroom apartment capturing panoramic views over the river to the City enjoyed a strong mid-week sale at $510,000.

St Albans: Oberon Avenue. The combination of a privately situated family home and a self-contained bungalow proves a popular offering, with four bidders pushing last Saturday’s auction all the way to a very satisfying sale in the mid $600,000’s.

Sydenham: Stratheden Court. A modern single-level villa unit situated within walking distance of Watergardens achieved a pleasing result at this week’s auction, selling for $465,000.

If you are considering selling this Autumn, it’s worth remembering that results like these don’t ‘just happen’. They take careful planning and an in-depth awareness of what’s happening in the local property market. So, if you would like some experienced advice on how to maximise your own result, don’t miss giving our team at Barry Plant Caroline Springs and Taylors Lakes a call this week on 9307 4000.

Regards,

James Hatzimoisis & John Aaron Nakic

Directors – Barry Plant Real Estate

Caroline Springs, Taylors Lakes & St Albans