A 45% bonus confirms some buyers won’t be distracted
Yes, the election is getting closer and the implications of the recent rise in official interest rates are still being absorbed by a number of Moonee Valley residents. So some people may have expected the local property market to take wind back a little for a week or two.
The fact is that whilst some buyers have become a little more cautious, others are pressing ahead with their plans with renewed vigour, as we saw at one of this week’s auctions where a fierce bidding duel produced a result that exceeded our vendor’s expectations by more than $400,000!
Clearly there is clearly still a substantial level of buyer demand for a variety of property types, as this cross-section of recent results shows…
Ascot Vale: 90 Epsom Road. Potential was the word on everyone’s lips at the auction of this older three-bedroom home on a prime corner site close to the leafy Maribyrnong River trails and eateries on Union Street. With eight registered bidders online and several more onsite, a remarkable bidding duel took place that saw the gavel fall at $1.5 million, close to 50% above our ecstatic vendor’s reserve!
Essendon: 6/183 Napier Street. This was the second sale our team has achieved in this conveniently located building in recent weeks. This time round a two-bedroom apartment found a new owner at $405,000 (pictured), selling well before offers were due to close on a Sale by Set Date® campaign.
Keilor East: 3 Saltau Street. This renovated builder’s own home impressed a number of upgrading local families with its stylish finishes, garaging for six cars and its convenient position. Four bidders competed for the keys, with the sale being completed at a very satisfying $1.52 million.
Keilor East: 45A Berembong Drive. Set in a quiet tree-lined street near the Centreway shops, this refined four-bedroom town residence sold prior to auction for $900,000.
Keilor East: 5 Limestone Avenue. This beautifully finished five-bedroom contemporary home in the highly sought after Valley Lake Estate achieved an outstanding sale through mid-week negotiations, with the SOLD sign going up at $1,787,500.
The message here is clear for anyone considering making a move in the coming months…the buyers are still keen to purchase as long as the sellers are prepared to listen to what the market is saying on price and realistic value.
If you are weighing up the timing of your own sale, and would like to discuss your options, feel free to give our team at Barry Plant Moonee Valley a call this week on 9373 0000.
Regards,
Bill Karp
Director – Barry Plant Real Estate
Essendon, Keilor East & Gladstone Park