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Off-market sales driving record activity levels

Real estate & property news
02 October 2021
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We saw some remarkable numbers this week that would have surprised a lot of buyers and sellers in the City of Hume, particularly those that have been watching what the ongoing shortage of available property listings has been doing to property prices in the face of fierce buyer competition.

The latest property market analysis from Corelogic has shown that over the 12 months to the end of August 2021, the number of homes sold in Victoria has jumped by 34 percent on the previous year. That’s right, there were 130,000 homes sold in our State during this period, which is also more than 20 percent above Victoria’s 20-year average of 107,792 sales!

In a market impacted by the pandemic, lockdowns and dented consumer confidence, that’s quite a testimony to how Victorians feel about the long-term prospects of the property market, isn’t it.

One of the reasons behind this figure is the growing number of ‘off-market’ sales that are taking place. With so many buyers ready to respond the minute a property becomes available, even before photos are taken and the property appears on the internet, a growing number of local vendors have been able to achieve a rapid and hassle-free sale simply by asking us to utilise our database of highly motivated buyers.

In fact, one of our notable sales this week involved a single-level three-bedroom home in the popular Greenvale Gardens Estate, just a stone’s throw from one of our current listings in River Rose Street. This property was introduced to a number of young families that our team had been dealing with and was very quickly sold off-market for an outstanding price without the vendors having to spend a cent on a digital marketing campaign!

Whilst this is not an option that will suit everyone, it is an approach that could work for some local property owners who prefer a quiet sale that even the neighbours may not be aware of. So, if you’d like a confidential discussion about the best ways to achieve an outstanding sale in the current market, feel free to give us a call this week at Barry Plant Gladstone Park on 9330 1088.

In closing, we also wanted to congratulate all those Melbourne supporters on the end of the drought as well as extending our commiserations to all the fans of the Bulldogs.

Best wishes,

Nick Pugliese - Sales Director

and Bill Karp - Director

Barry Plant Real Estate

Gladstone Park

Real estate & property news
02 October 2021
Save Article

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