Putting the ‘Win’ in the Winter market
There is no doubt that the ongoing shortage of new listings hitting the market has contributed to some serious buyer competition for the limited number of properties available for sale in the City of Moonee Valley and surrounding suburbs this Winter.
With this week’s announcement by the Reserve Bank to leave official interest rates on hold contributing to the underlying confidence among local home buyers, we are continuing to see some outstanding sales results in our area, with some of this week’s auctions soaring well above expectations.
They included:
Airport West: 166 Halsey Road. Tucked away in a cul-de-sac close to Westfield, this four-bedroom timber home had plenty of future upside for young families. Three bidders pushed it above our vendor’s reserve with the SOLD sign going up at $715,500 (pictured).
Avondale Heights: 2/77 Canning Street. This centrally located two-bedroom ground floor apartment attracted interest from investors and market entrants before selling for $320,000.
Avondale Heights: 29 Thackeray Quadrant. Making the most of a highly regarded location close to quality schools and the river, this potential-packed one-owner four-bedroom home attracted bidding from at least seven bidders. This spirited competition took the eventual sale price to an impressive $1.325 million, more than $150,000 above our ecstatic vendor’s reserve price!
Essendon: 204/40 Collins Street. This modern two-bedroom apartment was sold off-market utilising our extensive database of registered buyers for $470,000.
Essendon: 1/32 Napier Street. Situated close to Windy Hill, this two-bedroom, two-bathroom apartment featured a generous north-facing balcony and sold via a Sale by Set Date® campaign for $550,000.
Footscray: 40 Commercial Road. This week’s auction of this potential-packed site of around 597sqm in a lovely tree-lined street attracted competition from four bidders. As a result, it achieved close to 10% above the reserve in selling for $1.21 million.
Moonee Ponds: 13/53 Buckley Street. Part of a well-maintained block of 14 units within strolling distance of Queens Park, this light-filled two-bedroom apartment achieved a strong sale at $462,000 well before offers were due to close in a Sale by Set Date® campaign.
Having seen the first signs of Spring weather this week, (OK briefly), it reminded us that the official start of the Spring market is now just a matter of weeks away. So if you would like some experienced and objective advice to help with your property planning, don’t hesitate to give us a call this week at Barry Plant Moonee Valley on 9373 0000.
Cheers,
Bill Karp
Director – Barry Plant Real Estate
Essendon, Keilor East & Gladstone Park