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Market climbs as interest rates fall

Real estate & property news
07 March 2020
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Whilst the latest cut to official interest rates by the Reserve Bank came as no surprise to anyone who had been watching the financial markets, it’s difficult to say whether it had any impact on buyers given that demand has been so strong so such an extended period of time now.

There was certainly no sign of a slowdown this week, with competitive bidding being the order of the day at most auctions. The most recent results included:

Essendon: 66A Market Street

Only recently completed in a convenient Essendon address with parks and schools around the corner, this striking contemporary three-bedroom home attracted such strong interest that our vendors decided not to wait for this week’s scheduled auction, electing instead to accept a convincing early offer of $970,000 which was made during the week. In fact, the under-bidder on this one ended up purchasing another townhouse in the same complex just after.

Essendon: 3/1 Flower Street

Part of a lovely leafy Federation-style complex located with a stroll of Essendon Railway Station, trams, and the shops and cafes of Rose and Napier Streets, this luxurious three-bedroom townhouse (pictured) found ready interest among a varied cross-section of buyers, from local downsizers to first-time buyers. With three bidders competing, the sale price of $980,000 certainly exceeded our happy vendor’s expectations!

Keilor East: 13 Wunnamurra Drive

Offering immediate comfort with the scope for future enhancements if desired, this tastefully updated three-bedroom brick home sat on around 605sqm close to the shops and cafes at Centreway. The SOLD sign went up at a very satisfying $791,000.

Maribyrnong: 4 Pridham Street

This three-bedroom home was another that encouraged buyers due to its combination of immediate comfort with future potential for renovation or even rebuilding. The location added to the appeal, being within walking distance of Highpoint’s retail entertainment precinct, Maribyrnong Aquatic Centre and the Maribyrnong River parklands. An effective auction campaign did the rest.

Niddrie: 1/2 Rebecca Place

Set high where serene views over the Steele Creek parklands added to the appeal, this smart three-bedroom town residence make a strong impression on buyers with its striking kitchen and excellent outdoor entertaining zone. A strong mid-week sale was completed at a pleasing $880,000.

With a clear run now ahead of us through to the Easter weekend, it’s certainly a great time to be hitting the market with a property for sale. So, if you would like some expert advice or assistance in making that happen, be sure to give our team at Barry Plant Moonee Valley a call on 9373 0000.


Bill Karp

Director – Barry Plant Real Estate

Essendon & Keilor East

Real estate & property news
07 March 2020
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