News Limited choices driving buyer competition
Limited choices driving buyer competition
02 May 2015
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At the risk of repeating myself from several recent Updates, there is no doubt that the ongoing strength of the property market in the City of Moonee Valley is being driven, at least in part, by an ongoing shortage of available properties for purchase.
This shortage is not only creating frustration among buyers, it is also forcing buyers to compete with increased numbers of their fellow buyers to try and secure one of these limited stock, producing some really outstanding results for sellers throughout our area.
Today’s auctions included:
- A well-presented 3 bedroom timber home with loads of potential at 67 King Street in Airport West saw serious competition, taking the eventual sale price to $767,500 which was $47,500 above the vendor’s reserve price.
- A near new 2-storey 3 bedroom townhouse in Coghlan Street Niddrie (pictured) achieved a result that certainly got the locals talking.
- A renovated 2 bedroom villa unit within walking distance of the Keilor Road strip at 5/92 Kerferd Street, Essendon North exceeded the vendor’s expectations by $30,000, selling for $335,000.