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‘Sight-unseen’ sales continue

Real estate & property news
21 August 2021
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One of the interesting trends we’ve seen in the property market of 2021 is the increase in the number of sales that involve buyers that haven’t actually looked through the property before they make the winning bid.

Whether their decision is purely about location, or they feel confident about making a decision based purely on what they can see online, be it photographs taken before the lockdown, a video walk-through or even a virtual tour taken by one of our team walking through the property with their phone, it’s clear that some buyers are just not prepared to wait until the restrictions ease to secure their next home.

We saw further examples of this trend during the past week, with more than one sale being completed without the buyer being able to physically inspect the property. Here’s a cross-section of what’s been happening:

Airport West: 2 Bedford Street. Potential was the word on everyone’s lips when we commenced the online auction of this three-bedroom home situated within walking distance of Westfield Shopping Centre. Four bidders competed for the keys, pushing the price beyond our happy vendor’s reserve before the gavel fell at a very satisfying $1.015 million.

Collingwood: 22 Cambridge Street. With five registered bidders for the online auction, this renovation-ready three-bedroom terrace was one of those that found a new owner without a physical inspection. The keys changed hands at $1.111 million.

Essendon: 26 MacKay Street. This elegant four-bedroom Victorian (pictured) included a privately positioned inground pool and a garage conversion that served as a fifth bedroom or studio, complete with a third bathroom. Strong early interest saw the SOLD sign go up on this one more than a week before this week’s scheduled auction, with the contract being inked at an outstanding $2.325 million.

Moonee Ponds: 113 Waverley Street. This custom-built single-level showpiece reflected a fresh contemporary flavour worthy of a twelve-year-old home and made an immediate impact on buyers from the moment it hit the market. Situated close to the river and Aberfeldie Park, this was another to achieve an early sale with competitive pre-auction negotiations producing $1.505 million.

With all that’s happening in Melbourne at the moment, it’s hard to know when the restrictions will be officially lifted. What you can be sure of, however, is that when inspections are again permitted that Spring market will take off with plenty of pent-up heat. So if you want to be in a position to make the most of this inevitable rush, it’s worth having a chat to one of our team right now so that you can be sure you’re prepared. Why not 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

Real estate & property news
21 August 2021
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