Indeed, we saw several very strong sales being negotiated this week, which was great news for quite a few very happy vendors who were keen to get their plans finalised before they sit down for Christmas with the family.

One of the key lessons this week for market watchers was the importance of post-auction negotiations. Some people make the mistake of assuming that when a property is passed in at auction that the sale process has ‘failed’, but the truth is quite different.

Last week’s auction of a block-fronted 3-bedroom Edwardian home (pictured) on Epsom Road in Ascot Vale was a prime example of this. A short walk from Walter Reserve and St Mary’s Primary School, this freestanding period home was within easy reach of Union Road cafes and the glorious Maribyrnong River precinct, so the location was clearly a plus here. Combining period features like a bullnose verandah, leadlights and original floorboards with tasteful 21st-century updates and comforts, this property was passed-in at the auction on Saturday, but some professional negotiations a very pleasing sale concluded on Monday.

Another example of this involved a 2-bedroom Art Deco style home on 590sqm of land in Deakin Street, Essendon. This property attracted the interest of a mix of home buyers interested in renovation, extending and even potentially redeveloping the site, given its close proximity to Buckley Park College, St John Bosco Primary School and the Keilor Road retail precinct. Again, whilst a deal was not able to be completed on the day, further negotiations by the team soon saw a very satisfying sale completed at $1.05 million.

Don’t forget that whilst our team will now take a well-earned break, our offices will be open again to assist you on Wednesday January 2nd. In the meantime, we’d like to wish you a safe and relaxing festive season.