Winter real estate market off to a strong start in Moonee Valley!
The Winter market kicked off in a very positive way this week. Not only did the Barry Plant Moonee Valley team achieve another 100% auction success rate for our vendors, but we were also able to negotiate several very strong mid-week sales. Buyer confidence seems to have stepped up another level in response to the growing awareness of the potential for future interest rate cuts beyond the expected cut to be announced this week.
Among the more notable Winter market results were:
Airport West: 96 Bowes Avenue
Situated in the heart of Airport West within walking distance of the McNamara Avenue shopping strip, this original three-bedroom home presented plenty of possibilities for renovators, young families and developers to create a new chapter. Set on a substantial allotment measuring around 697sqm, it didn’t take long for competitive interest to produce a pleasing mid-week sale.
Essendon: 38 & 38A Ardoch Street
An unusual offering in a highly prestigious pocket of Essendon, this property comprised two buildings on around 380sqm of commercially zoned land. Whilst the existing property included a two-bedroom villa and an office building, most of the interest came from people Wanting to utilise the approved plans and permits for a redevelopment of the site to include a new retail shop and five apartments. The SOLD sign went up after a sale was completed at close to the $1 million-mark.
Maidstone: 29 Wattle Road
Future potential also played a key role in the successful auction of this older three-bedroom home on around 540sqm of land within walking distance of Highpoint Shopping Centre and several other Maidstone amenities. Interest came from renovators as well as several families keen to build anew, with the auction producing a very pleasing sale at $890,000.
Niddrie: 27 Diamond Street
Comprising four bedrooms and study, this strikingly modern contemporary residence (pictured) made a real impact on local families looking to upgrade to something special, particularly given the close proximity to quality educational options. Features that drew positive responses from buyers included the amazing kitchen with a butler’s pantry and four ovens, (yes, you read that right), the herringbone timber floors and the expansive entertaining areas. This was a sale that brought more than one dream to reality. So congratulations to all involved.
Given the growing discussion about the potential for multiple cuts to official interest rates as the year goes by, the current Winter market is looking like a very positive time to have your property on the market. If you would like a confidential discussion about the opportunities available, don’t hesitate to give us a call on 03 9373 0000.