Buyer activity demonstrates real estate market confidence
When you have competitive bidding duels at auction that push prices around 10% above their expected reserve, and multiple offers being made on several properties currently up for private sale, it’s a sure sign of market confidence.
However, one of the most positive signs we are noticing in the current market is the variety of properties attracting strong interest. Rather than seeing buyer activity focused on one particular area or property type, we are seeing sold signs going up in every area and category, as this cross-section of recent sales shows:
134 Halsey Road, Airport West
Conveniently located to Westfield and Essendon Fields shopping centre, this brand-new contemporary villa unit comprised three bedrooms and a study complemented by two bathrooms. Quality appointments were also a positive with the buyers, many of whom were local residents looking to downsize.
4A Eden Court, Ascot Vale
Set in a peaceful cul-de-sac within walking distance of the majestic Maribyrnong River, this brand-new double-storey family home was sold whilst still approaching completion. Offering four bedrooms and three bathrooms, it featured luxurious spotted gum floorboards, spacious open living and sitting areas, a beautifully appointed kitchen and restful views. Proximity to quality schools and transport was also a feature here.
4/24 Leslie Road, Essendon
Those classic 1960’s apartment buildings are becoming a rarity nowadays, so it was no surprise to see so many buyers responding positively to the oversized rooms and the lock-up garage that this ground-floor two-bedroom apartment provided. Of course, the prime location with Lowther Hall across the road and Essendon station nearby added to the appeal. Three strong bidders fought it out at the auction, with the gavel falling at a remarkable $645,000!
17C Pearl Street, Niddrie
Easy access to quality schools was also a feature of this good-looking contemporary home (pictured), particularly for the many local families who considered it as an attractive upgrade option. Offering three bedrooms and a study, this well-presented family home also captured superb city views. The competitive auction saw three main bidders take the eventual sale price all the way to $1.01 million, which once again was well beyond our happy vendor’s expectations.
The key to results like these, particularly with the official start of the Spring market now just matter of weeks away, is careful planning. So, if you are considering making a move in 2019, don’t hesitate to give the team at Barry Plant Moonee Valley a call on 03 9373 0000.