It’s been a very rewarding week for the property market in the City of Moonee Valley, particularly for those sellers with properties in $1 million-plus bracket, and those with properties up to the mid $600,000’s price range. The top end of the market has been very strong, as two of our auction results this week show. On Tuesday evening we auctioned an impressive 3 bedroom Californian Bungalow in Hedderwick Street, Essendon as a mid-week twilight auction, and achieved a result in the mid-$1 million range that exceeded everyone’s expectations. Hot on the heels of this result, we auctioned an elevated 3 bedroom Edwardian home near Montgomery Park today. 119 McPherson Street, Essendon (pictured) attracted at least 6 bidders, pushing the sale price well beyond the reserve of $1,350,000. Whilst both sale prices are undisclosed at this point, I can confirm that these two properties alone exceeded their reserve prices by a total of close to $400,000…and they weren’t the only sales in the $1 million-plus bracket that we achieved this week! Importantly, we are also experiencing exceptionally strong demand from buyers in the price range up to $600,000 or $650,000, particularly in suburbs like Airport West, Avondale Heights, Keilor Park and Keilor East. A combination of first home buyers, investors and couples upgrading from apartments is generating enormous competition here as well. So all in all, things are looking very positive for anyone thinking of selling in the near future. If you’re looking for experienced advice, don’t hesitate to call me. Best wishes, Bill Karp Director – Barry Plant Essendon & Niddrie