One of the interesting questions that has cropped up this week after the State Government announced some new assistance measures for first home buyers was whether some people might decide to hold off on purchasing until the new stamp duty cuts came into effect. What many people will have realised, particularly if they were watching the property market last time a new set of incentives were announced for first home buyers, is that increased competition between first home buyers once the cuts come into effect is likely to push up prices by every bit as much as the buyers are hoping to save on stamp duty! So, it has been no real surprise to see lots of first home buyers pushing hard to secure their property as soon as possible, rather than waiting. One example was the stunning slice of local history at ¼ Spring Street in Thomastown which was due to be auctioned today. This former church was built in 1850’s and was more recently converted into a 3-bedroom home with superb period features and sought after modern appointments. So strong was the response to this property that we had multiple buyers fighting over the opportunity to purchase it prior to the auction. As a result, it was sold prior for a record-breaking $555,000! Our auction of a potential-filled 4-bedroom weatherboard home in Vasey Avenue, Lalor attracted similar levels of competition. After four bidders had their say, we were able to bring down the auctioneer’s gavel at $600,000, again exceeding our delighted vendor’s reserve price. Results like these continue to confirm just how strong buyer demand is for properties in our area. So, if you are considering selling, and would like to discuss the best ways to achieve your own record-breaking result, feel free to give us a call. Enjoy your long weekend. Con Constantinou & Zoran Milenkovic Barry Plant Thomastown & Epping