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Market Update

18 June 2016
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If you’ve been following the property market on Melbourne's northern fringe closely, you may have noticed that it is becoming more common for buyers to make offers on auction properties prior to the day of auction, rather than waiting for the day itself. This is another sign of the pressure that buyers are feeling due to the shortage of available property for sale. There is no doubt that once a buyer finds a property that suits them, they will often make an immediate move to try and secure it rather than taking a punt on the competition on auction day. We saw another example of this with the quality-built 4-bedroom home (pictured) in Creswick Drive, Wollert that we were due to auction today. Being located within walking distance of parks and bike tracks in the popular Eucalypt Estate meant that it attracted plenty of interest, resulting in a strong sale prior to the auction. We are also seeing plenty of interest from investors in this area, as was the case with a single level 2-bedroom unit in Ash Street in Thomastown. The location, close to schools and trains, also encouraged plenty of interest, resulting on a privately negotiated sale. Remember, if you are weighing up whether now is the right time to sell, don’t hesitate to give is a call for experienced advice. Regards, Con Constantinou Barry Plant Epping & Thomastown
18 June 2016
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