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Post lockdown market moves forward with confidence

Given the obvious imbalance we have been reporting in the real estate market throughout 2021, with extremely strong demand being met by a limited supply of property for sale, it was no surprise that we saw the real estate market in the City of Moonee Valley hit the ground running from the middle of the week.

As expected, the phones started ringing and the online enquiries started landing in our screens on Wednesday as soon as the end of the latest restrictions was confirmed, and they haven’t stopped since. This demand from buyers has produced some impressive turnouts at our Open Houses, and some terrific sales results for happy vendors.

Among our recent results were:

Airport West: Parer Road. An attractive street-facing townhouse made such strong impact on buyers who responded to the abundance of natural light and accommodating floorplan. Competitive early interest saw the SOLD sticker go up before this week’s scheduled auction with the deal being completed at $690,000.

Airport West: Hillside Grove. Pristine presentation and the combination of three bedrooms and a study ensured that a convenient townhouse near AJ Davis Reserve found new owners quickly, selling for $790,000.

Airport West: Marshall Road. A brand new single-level villa within an easy walk of Westfield produced a very satisfying mid-week sale at $790,000.

Ascot Vale: Union Road. A two-bedroom apartment in ‘The Vale’ building drew interest from a mix of market entrants and investors before selling for $610,000.

Essendon: Sherbourne Street. Character-filled and offering all the benefits of a central position, a two-bedroom villa unit saw the keys change hands at $595,000.

Essendon: Roberts Street. Offered in better than new condition, a modern three-bedroom town residence achieved an excellent result n selling for $930,000.

Essendon: Hoffmans Road. Potential was the word on everyone’s lips as we took a well-maintained three-bedroom home (pictured) on just over 700sqm of land to auction. A competitive auction saw this one sold above the reserve at $1.01 million.

Keilor East: Sterling Drive. The decision to conduct an online auction in the hours before the lockdown proved a positive one, with three bidders pushing the price of a renovation-ready three-bedroom home to $721,000, more than $40,000 above our happy vendor’s expectations.

Keilor East: Milleara Road. An architecturally innovative design and generous family accommodation combined to see this four-bedroom town residence sell above reserve at Saturday’s auction, producing a pleasing $960,000.

The important thing to keep in mind if you are weighing up whether now is the time to act is that experienced, obligation-free advice on how to make the most of the current market conditions is just a phone call away. Feel free to give us a call at Barry Plant Moonee Valley a call this week on 9373 0000.

We look forward to helping you move forward with confidence.

Regards,

Bill Karp

Director – Barry Plant Real Estate

Essendon & Keilor East