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Buyers push hard as deadline looms

Real estate & property news
06 November 2021
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The arrival of November seems to have had an impact on the sense of urgency among many of the buyers we are dealing with in the bayside suburbs.

Yes, the reopening of doors to Open Houses and the return of onsite auctions has encouraged increased activity from those seeking their next home. However, it seems that the change from October to November on the calendar has jogged people’s memory that the end of the year is getting closer, meaning that those with aspirations to spend the Christmas break moving house will really need to get busy.

We saw several examples of this growing urgency during the week, (including the bidding for BP Bear that we conducted as a fundraiser for the Make a Wish foundation prior to our auctions), but two of this week’s sales provided the clearest case studies of what the current market is doing.

The first of these outstanding results occurred at the auction of a well-presented town residence in Everglades Street, part of the much-admired Marriott Waters Estate in Lyndhurst. This particular four-bedroom home combined a low maintenance block with stylish finishes and enjoyed easy access to Marriott Waters Shopping Centre, Lyndhurst Primary School, the trains at Merinda Park and an abundance of recreational reserves. Clearly this was a combination that had appeal for a variety of buyers, as the competitive auction pushed bidding all the way to $665,000 which was around $50,000 above our delighted vendors’ reserve price.

The second example involved a modern single-level unit in the heart of the Frankston High School zone. Set at the rear of the block a few minutes stroll from Overport Primary School, 2/10 Bayview Road in Frankston was a three-bedroom villa with a light-filled floorplan that reflected well on its quality finishes. A tightly fought auction between three main bidders set the scene, with the keys finally changing hands at $840,000. This was another result that exceeded our ecstatic vendor’s reserve by a substantial margin.

Results like these provide a timely reminder for anyone who is keen to make a move in the bayside suburbs before the end of 2021. Whether you are buying, selling or both, there is still time, but you will need to get the wheels in motion…particularly if you want to sell and make the most of the current strong demand.

If you’d like to discuss the best strategies to achieve your property goals within your preferred time frame, feel free to give us a call at Barry Plant Frankston this week on 9781 3100.

Best wishes,

Barry Plant Real Estate

Frankston & Cranbourne

Real estate & property news
06 November 2021
Save Article

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