The results this week included sale prices that ranged from the $600,000’s to over $1 million, with an average of 3 to 4 bidders at each auction producing sales that exceeded the vendor’s reserve prices by a total of more than $230,000. What is clear is that every segment of the market is experiencing plenty of buyer demand despite the cooler weather.

Our first auction was in Clydesdale Road, Airport West where a vacant allotment of just over 840 square metres was sold for $875,000, with the majority of interest coming from property developers and investors. This was a very positive result at better than $1000 per square metre.

The next auction was scheduled for 33 Huntly Street in Moonee Ponds (pictured), which was featured in ‘The Age’ last Saturday; however this was actually sold prior to the auction for a very pleasing price of $1.039 million. I’m sure that many local residents would have liked to have seen a competitive auction taking place, but the vendors were more than happy to agree to a very strong sale before the event.

We then finished off the day with two very strong results for three bedroom homes in Ryder Street, Niddrie and Chappell Place in Keilor East, with sales being achieved for $715,000 and $638,000 respectively.

So the message for those who are considering selling in 2014 is a simple one. Why wait for Spring, (when you will undoubtedly have far more competition from other sellers), when you can sell in the current market and reap the benefits of some serious competition between buyers instead?

If you’d like to have a chat about maximising your result in the current climate, feel free to give me a call any time.