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Buyer numbers will surprise many

As I mentioned in my most recent video update that we posted on our Facebook page on Saturday evening, (May 9th), the property market is experiencing a level of buyer activity right now that would come as a surprise to many local homeowners.

What is becoming abundantly clear is that whilst buyer numbers may be down a little, there are still strong numbers of buyers who are not only active, but keen to make offers as soon as they find the right property.

As you may have seen on our social media during the week, a prime example of this could be seen in the sale of a charming block-fronted three-bedroom home in Harding Street, Ascot Vale (pictured). This property attracted such strong interest that we ended up having a ‘bid-off’ between seven separate buyers via a zoom meeting during the week, with the result exceeding our happy vendor’s asking price by a substantial margin!

In fact, the latest stats from realestate.com.au show that buyer searches on their website are up by 41% on the same week last year, and increased 6% in the past week alone.

Looking further afield, our sales team have been reporting huge inspection numbers at many of our properties for sale, with several of the team recording as many as six or eight separate private inspections on the one property in a day.

Importantly, it’s not just people looking. As I sit down to write this update I can tell you that our team has taken written offers on seven different properties in the last 24 hours alone, with contracts signed in areas including Aberfeldie, Avondale Heights, Essendon, Niddrie, Strathmore and two in Keilor East. With several more offers likely to be made in the next day or two, this really is looking like a terrific time to be selling a property in the City of Moonee Valley and surrounding suburbs.

Activity like this confirms that buyer interest in the property market is rebounding strongly, and with the suggestion that Open Houses and Auctions could be returning to the market in the foreseeable future, (with appropriate attendance limitations in place in the early stages), the outlook seems positive indeed for those who are keen to make a move in 2020.

Keep in mind, if you are considering making a move in the current climate, experienced advice can make a huge difference to your result, (just ask one of the vendors mentioned above), so don’t hesitate to give one of the team at Barry Plant Barry Plant Moonee Valley a call on 9373 0000.

Cheers,

Bill Karp

Director – Barry Plant Real Estate

Essendon & Keilor East