Top end of market continues to show strength
With the news this week that the continuing regime of record low-interest rates has seen the average Australian homeowner now close to three years ahead on their mortgage repayments, it should come as no surprise that quite a few Melbournians are making the decision to take advantage of the current market conditions to upgrade their homes.
Whilst we are continuing to see strong demand from homebuyers in all price ranges, a trend that is reinforced by the ongoing shortage of available property for sale), there is no doubt that properties at the top end of the market are enjoying some excellent results recently, particularly in the more sought after pockets on the City of Moonee Valley.
Regular readers will know that our team has put together some outstanding recent sales at the top end of the market, and this week was no exception. Recent results have included:
Airport West: 63 King Street
Boasting a generous allotment of around 772sqm, this double-fronted timber home generated most of its enquiries from buyers looking to renovate and extend, build a new home or potentially redevelop within minutes of schools, parks, transport, Essendon Fields and Westfield. It didn’t take long for the SOLD sticker to go up on the board with the contract being inked at $810,000.
Essendon: 39 Deakin Street
This stunning brand-new luxury home (pictured) designed by the award-winning Jamison Architects certainly created a stir as soon as it hit the market. Representing the state of the art in contemporary living, this remarkable property will rank among the top priced sales in Melbourne this week.
Essendon: 2/133 Lincoln Road
Four determined bidders fought it out indoors in this three-bedroom townhouse in a block of three, right in the heart of Essendon. With a choice of restaurants, cafes, boutique shops, Lincoln park and the trams on Mt Alexander Road all within a few minutes’ walk, location was clearly a big factor here. The gavel fell at $690,000, comfortably above our happy vendor’s reserve price.
Keilor East: 2 Susan Court
One of the key attractions of this character-filled three-bedroom home was the location itself…a serene court setting with direct access to Spring Gully Reserve and Penleigh and Essendon Grammar School just a stone’s throw away. Not surprisingly, several local families showed strong interest before competitive offers saw the deal done at $955,000.
Maribyrnong: 7 The Grand
Situated in the heart of the highly regarded Edgewater Estate, this architecturally designed multi-level residence captured superb views of the city skyline. The unusual floorplan provided four bedrooms, three bathrooms and two kitchens, providing enormous flexibility for those buyers looking for space for extended family or even a home office. An outstanding mid-week sale was completed at $1.14 million.
Remember, whether you are selling a property at the top end of the market, or something more affordable, the key to a good result is always good advice and careful planning. So if you would like to discuss the opportunities that current market conditions are providing local homeowners, don’t hesitate to give us a call at Barry Plant Moonee Valley on 03 9373 0000.