Top-end market continues to show strength
We saw some interesting figures on the top-end market recently from Domain which confirmed that both Essendon and Moonee Ponds are now ranked among the top suburbs in Melbourne for sales above $2 million. Whilst the top-end market has been a little slower overall this year, more than 10% of sales in Essendon in 2018 have been above the $2-million mark, whilst in Moonee Ponds it’s around 6%.
With this in mind, it was interesting to see another addition to this category among some terrific auction results this week. However, the good news is that this activity in the top-end market is not coming at the expense of more affordable properties, as this cross-section of this week’s results shows:
Airport West – 3/70 Hawker Street
Securely positioned at the rear of a group of just three, this modern single-level 3-bedroom unit had plenty of appeal for local downsizers. So strong, in fact, that the vendors decided to accept a convincing early offer of $695,000 rather than wait for this week’s scheduled auction.
Essendon – 4/23 Daisy Street
An older style ground floor apartment, this affordable entry to the Essendon market offered 2 bedrooms with built-ins, an allocated car space and was a short walk from Essendon station. A highly effective auction campaign produced a very pleasing sale at $390,000.
Essendon – 93 Hedderwick Street
Boasting a highly sought-after Mar Lodge address, this 4-bedroom timber home (pictured) with touches of Art Deco styling and a tastefully updated kitchen enjoyed a superior position within walking distance of Buckley Park College and the shops and cafes on Keilor Road. It was smiles all round when, as we touched on above, the SOLD sign went up a few days before the auction at $2.07 million.
Keilor East – 3/570 Buckley Street
Another one to attract such strong interest that it didn’t make it to auction day, this modern 2-bedroom unit was located just a stone’s throw from Milleara Shopping Centre. The deal was inked at a very satisfying $595,000.
Niddrie – 45A Muriel Street
Capturing a strikingly contemporary feel throughout a free-flowing double-storey floorplan of 3 bedrooms and a study, this impressive new home was set on a subdivided block near Rosehill Secondary College and Rose Creek Reserve. A sale at $1.1 million was the strong result.
Don’t forget that, as we mentioned last week, time is getting tight if you’re keen to get your property sold before Santa arrives. So don’t hesitate to give one of our team a call this week if you’re planning a move.