Buyer demand continues to heavily outweigh supply across Melbourne’s property market, and with Australia’s international borders finally reopening after being tightly shut since early 2020, that trend looks set to continue.

Pre-COVID, many suburbs across Melbourne’s north-eastern and eastern suburbs attracted a large proportion of buyers with non-English speaking backgrounds, so much so that the Barry Plant Eastern Group created an international division to assist the increased number of buyers from this group. With the number of international buyers expected to swell in the coming months — new figures released from realestate.com.au show offshore searches have already increased by 13 per cent in Victoria since the start of this year — our offices anticipate a spike in enquiries from around the middle of this year. Renewed interest from international buyers may also offset any pressure placed on the market from an interest rate rise and the federal election.

Returning to the present, our offices in Manningham, Whitehorse, Eltham and Ivanhoe achieved some strong results for their vendors today, selling multiple homes under the hammer at tightly-contested auctions.

These properties included:

• 43 Botanic Drive, Doncaster sold for $1,670,000
• 2 Gray Street, Doncaster sold for $1,461,000
• 3/28-30 Winfield Road, Balwyn North sold for $1,166,000
• 3/74 Chippewa Avenue, Donvale sold for $790,000
• 29 Charlton Street, Blackburn North sold $2,640,000
• 1/19 Barrina Street, Blackburn South sold for $1,050,000
• 3/7 Morloc Street, Forest Hill sold for $963,000
• 100 Arthur Street, Eltham sold for $1,290,000

Currently under offer and will be sold soon:

• 28 Somers Road, North Warrandyte

If you’re thinking of taking advantage of the strong buyer activity, contact one of our sales professionals today for an obligation-free market appraisal.

Enjoy the rest of your weekend,

Spiro Drossos

Managing Director

Barry Plant Manningham, Whitehorse, Eltham and Ivanhoe