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The numbers tell the story

Real estate & property news
13 May 2023
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There’s been a growing number of commentators talking about the stabilisation of the Melbourne property market recently, despite the potential challenge of the latest increase in official interest rates by the Reserve Bank.

This talk about the change in the swing of the pendulum can be seen in a lot of the recent data that has been published by several of the well known analysts, but it’s also apparent at a local level when you look at what’s been achieved by our team at Barry Plant Moonee Valley.

For example, the fact that our team achieved another 100% auction success rate this week, along with several other exciting results through alternative marketing methods, says a lot about the underlying confidence in today’s market

This week’s auction of an elegant three-bedroom townhouse in Mary Street in Essendon saw a spirited bidding duel between four bidders. The combination of a well-regarded location close to Buckley Park and direct vehicle access via a laneway proved a popular one, with the bidding soaring more than 10 per cent above our happy vendor’s (pictured) reserve before the auction concluded at an impressive $911,000.

Of course, not all properties and not all vendors decide to utilise an auction to sell their property. Our unique Sale by Set Date® approach can be very effective and is a particularly popular choice among those selling apartments in the City of Moonee Valley and surrounding areas.

One example of this occurred recently when a two-bedroom, two-bathroom apartment in Collins Street, Essendon was sold more than two weeks before offers were due to close using this methodology. Located right in the heart of Essendon with all the important amenities close by, was successfully sold for $468,000.

Another apartment that was recently sold prior to planned closing day was in Moreland Street in Footscray. This three-bedroom, two-bathroom unit with city skyline views and a good sized entertainer’s terrace achieved $670,000.

There is no doubt that the recent stabilisation of property prices mentioned earlier, along with the ongoing shortage of available properties for sale, is resulting in some very pleasing sales results for quite a few local sellers. So if you’d like an update on how much your own property could achieve in the current climate, feel free to reach out to our team at Barry Plant Moonee Valley by giving us a call this week on 9373 0000.


Bill Karp

Director – Barry Plant Real Estate

Essendon, Keilor East & Gladstone Park

Real estate & property news
13 May 2023
Save Article

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