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Taking the gamble out of Cup week

Real estate & property news
08 November 2014
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Whilst some people might have assumed that a percentage of buyers might be distracted by all the activity on the racecourse this week, particularly when you’re in a market that is literally within horse-show throwing distance of Flemington, the reality has proven to be quite different.

Not only have we seen big numbers inspecting our Open Houses this week, (even when they’re scheduled after 6pm this evening to accommodate a few anxious buyers), but our auctions this weekend have proven highly effective once again with 6 out of 7 already sold, and the 7th still under negotiation as I write this Update.

Today’s results included:

  • A super-sized Californian Bungalow at 14 Banchory Street in Essendon (pictured) which featured 2 self-contained areas to suit an extended family. This sold for $1,222,000 which was $22,000 above the vendor’s reserve price.
  • A brand new home of 3 bedrooms and a study at 26 Hamilton Street in Niddrie where 3 bidders took the price to $935,000 which was $15,000 above the reserve price.
  • A 3 bedroom home surrounded by parkland at 7 Glenys Avenue in Airport West where 5 bidders pushed the sale price all the way to $600,000, a full $80,000 (or more than 15%) beyond the vendor’s reserve.
  • A 3 year old, 3 bedroom villa unit at 3/14 Laurence Avenue, Airport West sold for a very pleasing $510,000.
  • Our third auction in Airport West took place at 111A Bowes Avenue where a contemporary 3 bedroom home sold for $605,000, which was again over the reserve price.
  • A 2 bedroom ground floor apartment at 3/40 Ormond Road in Ascot Vale also sold above the vendor’s expectations, with 3 bidders taking the price to $415,000.

As you can see, the range of buyer activity extends from the first home market to the million-dollar range and beyond, and in a variety of different suburbs.

So in reality, the biggest gamble an intending seller could take would be to leave it any longer before getting their property on the market!

Enjoy the rest of your weekend.

Real estate & property news
08 November 2014
Save Article

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