The record sales continue this week with 23 properties sold in the last 7 days.

At the auctions today, we witnessed quick and confident bidding, with many properties being sold under the hammer for hundreds of thousands of dollars above the reserve price.

Buyers were confident and were not shy to show it. Quick, strong bidding saw properties reach their reserve within seconds. At two of the auctions today the opening bid was at the reserve price. This is the strongest market we have seen since the property boom of 2017.

Sold:

• 9 Whitehall Court, Templestowe sold for $1,955,000
• 98 Wonga Road, Ringwood sold for $1,185,000
• 34 Caroline Drive Templestowe Lower sold for $1,680,000
• 58 Clay Drive, Doncaster sold for $1,350,000
• 3 Deakin Street, Mitcham sold for $1,112,000
• 200 Weidlich Road, Eltham North sold for $1,200,000
• 54 Worthing Avenue, Doncaster East sold for $1,455,000
• 235 Pitt Street, Eltham sold for $1,292,300
• 7 Morden Place, Eltham sold for $1,080,000
• 11 Merna Drive, Templestowe sold for an undisclosed price
• 3 Ryder Court, Doncaster East sold for $1,218,000
• 402/9 Red Hill Terrace, Doncaster East sold for $760,000
• 9 Sunrise Crescent, Templestowe Lower sold for $946,500
• 2/831 Station Street, Box Hill North sold for $909,000
• 41 Glenburnie Road Mitcham sold for $875,000
• 7/1 Morello Circle, Doncaster East sold for $632,000
• 7/46 Somerville Street, Doncaster sold for $995,000
• 3/102 Mountain View Road, Montmorency sold for $765,000
• 2/16 Raglan Road, Research sold for $910,000
• 2 Withers Way, Eltham sold for $863,000
• 2 Webb Street, Warrandyte sold for $468,000
• 1/5 Walsh Street, Eltham sold for $660,000
• 69 Summit Drive, Bulleen sold for an undisclosed price

Under offer & will be sold soon:

• 218 Bolton Street, Eltham
• 28 Tram Road, Doncaster
• 70/110 King Street, Doncaster East
• 50 Yarra Valley Blvd, Bulleen
• 16 Coolabah Drive, Eltham
• 2/10 Cherry Grove, Donvale
• 304A/164 Manningham Road, Bulleen
• 52 Alexander Road, Warrandyte
• 10 Heacham Road, Eltham North
• 4 Graeme Court, Bulleen
• 508/9 Red Hill Terrace, Doncaster East
• 43 Henry Street, Eltham
• 105B/170 Manningham Road, Bulleen
• 4 Ingrams Road, Research
• 1 Pisces Court, Donvale
• 29 Warringal Street, Bulleen
• 21 Fordhams Road, Eltham
• 2 Maldon Place, Wattle Glen
• 25-27 Church Road, Doncaster
• 2/12 Elizabeth Street, Doncaster East

So why is the local real estate market performing so well?

It’s not just one reason. It’s a combination of factors;

1. Low interest rates
2. Minimal travel (meaning more disposable income)
3. Increased number of families upgrading to homes with more space post COVID lockdown
4. Low property levels at the moment

There are many under bidders from today’s auctions. If you are thinking of selling, get in touch with us. We have buyers cashed up and ready to buy immediately!

Have a nice weekend.

Kind Regards,

Spiro Drossos
Managing Director
Barry Plant Eastern Group