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Looking ahead with confidence

Real estate & property news
18 June 2022
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If you’re one of the many Melbourne residents who has been struggling to deal with our recent cold snap, I’m pleased to say that there are a number of reasons this week to look ahead with confidence.

The first little snippet of positive news is that, whilst many people have overlooked it, this coming Tuesday, (June 21st), is the official shortest day of the year. That means by the time you are out looking at Open Houses next weekend the days will already be getting longer as we head slowly but surely towards Spring. And after the past two weeks, that’s got to be a good thing, right?

The second is that despite the negativity of so many members of the media, the property market in the City of Moonee Valley is still achieving good results. Yes, it is taking slightly longer in some cases, whether that’s the minutes immediately after an auction property is passed in, through negotiations with multiple buyers that sometimes take a day or two longer than they might have last year, or sometimes it’s the window of opportunity immediately after a property hits the market, when an owner is relying on the experienced advice of their agent to decide whether to take an early offer rather than waiting to see whether additional interest will produce a higher result.

We’ve seen a number of these time-driven results in the past few weeks alone.

One example involved the renovated single-level three-bedroom home in Hoffmans Road, Niddrie that we took to auction this weekend. Productive post-auction negotiations saw the SOLD sign go up on this one a few minutes after it was passed in, with the sale price of $875,000 being tens of thousands above the level it was passed in at.

Another example of strong mid-week negotiations saw a well-maintained four-bedroom home in Armstrong Close, Keilor East change hands before its scheduled weekend Open House. As you can see from the photo, it was a result that produced smiles all round once the contracts were inked.

The important lesson for anyone considering making a move in the coming months is that whilst it may take a little longer in some cases to get the result you want, outstanding sales results are still being achieved by our team in Moonee Valley. In fact, as you may have noticed in some data we posted on Facebook on Friday, our network still achieved a ‘median days on market’ figure of 29 days in May, so things are still ticking over despite the negative media coverage.

If you’d like an update on what’s happening in your specific suburb, or what your own property could achieve in the current market, you can give us a call this week at Barry Plant Moonee Valley on 9373 0000.


Bill Karp

Director – Barry Plant Real Estate

Essendon, Keilor East & Gladstone Park

Real estate & property news
18 June 2022
Save Article

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