Firstly, we had confirmation this week in the quarterly House Price Report from Domain that Melbourne’s house prices had remained stable during the September quarter, despite the most challenging lock down conditions we’ve seen all year. This was further confirmation of just how resilient the local property market in the face of ongoing strong buyer demand.
Secondly, many financial commentators are forecasting that we may see another cut to official interest rates on Tuesday. Whilst this expected to be a fairly small cut, it won’t do confidence levels any harm all the same.
Last, but certainly not least, is the level of activity in the local market that our team at Barry Plant Moonee Valley is currently experiencing. As we have reported several times in recent weeks, our sales team is dealing with an enormous number of enquiries and requests for property inspections from buyers who seem determined to secure their next home before the end of the year. When you combine this demand with the ongoing shortage of available properties, it seems we are in for a very busy run through to Christmas.
Some of our most recent results have included:
Airport West: 6 Peters Street. A quiet off-market campaign certainly made the most of the opportunities presented by our extensive database of highly motivated buyers, with this state-of-the-art custom-built three-bedroom double-storey contemporary home finding new owners during the week.
Maribyrnong: 3/97-99 Raleigh Road. A number of investors and first home buyers had no trouble recognising the renovation potential of this two-bedroom flat, with a strong sale being completed at $315,000.
Strathmore: 36 Roland Avenue. Situated in the Strathmore College zone, this brand new four-bedroom/four-bathroom contemporary home (pictured) drew the attention of several upgrading local families, with the SOLD sign going up at $1.45 million.
Strathmore: 54A Carnarvon Road. Combining an abundance of luxurious family living space with an appealing low maintenance lifestyle, this eye-catching four-bedroom double-storey town residence achieved an excellent seven-figure mid-week sale.
The only downside at the moment is that time is getting tight if you’d like to sell in 2020 and give your property the full exposure to the high-demand market we are currently handling. So, if you need any advice or assistance on getting your home ‘market ready’ feel free to give our team a call this week on 9373 0000.
Director – Barry Plant Real Estate
Essendon & Keilor East