Chat with us, powered by LiveChat

Extra competition creates urgency

Real estate & property news
08 May 2021
Save Article

The news this week that the Federal Government is looking at additional assistance measures for first home buyers in general, and single parent first timers in particular, was good news for all those market entrants who have found the process of saving a sufficiently large deposit a challenging one.

However, this news would also have provided many current first home buyers with yet another reason to purchase as soon as possible, knowing that there is likely to be even more competition for the limited number of available properties once these new measures come into effect.

At a local level, the property market is continuing to demonstrate the strong demand we have been reporting in recent months, and not just in the first home buyer’s bracket, as you can see from some of these recent results:

Botanic Ridge: 4 Bottletree Road. This was a result that got everyone in the area talking, with a stunning three-year-old custom built double-storey home in the popular Acacia Estate setting a new price record for Botanic Ridge when the SOLD sign went up at $1.395 million!

Carrum Downs: 15 Libella Court. Capturing serene garden aspects from every room along with easy access to The Pines Flora and Fauna Reserve, this tastefully updated three-bedroom home enjoyed a pleasing mid-week sale at $750,000.

Cranbourne West: 6 Todd Court. This quiet, child-safe court proved popular with first home buyers and young families, as did the easy access to the new Cranbourne West Shopping Centre. Our unique Sale by Set Date® campaign produced a very strong sale two weeks early, with the keys changing hands at $525,000.

Frankston: 34 Bokissa Drive. Combining obvious potential for future enhancements with a highly sought-after location a stone’s throw from Karingal Primary School, this original three-bedroom home (pictured) achieved an outstanding mid-week sale at $612,000.

Frankston: 5 Fairway Street. A huge allotment of around 955sqm added to the possibilities offered by this four-bedroom home. In fact, this one found new owners before the photographer had time to visit, with an outstanding off-market sale being inked at $870,000.

Frankston North: 2 Karri Court. Thoughtfully updated to minimise upkeep, this three-bedroom home around the corner from Long Island Country Club attracted strong early interest, resulting in a very pleasing sale prior to auction at $580,000.

Frankston South: 9 Culcairn Drive. The rare opportunity to purchase two dwellings on one impressive allotment of around 2460sqm proved a popular one at this week’s auction. Comprising a three-bedroom mid-century home and a self-contained unit, it was sold at this week’s auction for $1.495 million.

With so many strong results being achieved in the bayside market, and the newly announced assistance measures likely to push this demand even further, it could be the ideal time for you to find out how much more your property could achieve in the current conditions. If you’d like an update, don’t hesitate to give us a call this week at Barry Plant Frankston on 9781 3100.


Barry Plant Real Estate

Frankston & Cranbourne

Real estate & property news
08 May 2021
Save Article

Get more from Barry Plant.
Sign up for our newsletter

Sign up now to stay informed about market trends, investment opportunities, and exclusive property listings. Don't miss out on valuable insights - join our community today!