As you may have seen in the Herald-Sun on Saturday, the latest data is suggesting that two thirds of Melbourne’s suburbs recorded a rise in their median house price last quarter, (yes, you read that correctly), despite the monthly increases in official interest rates and the scaremongering from several sources who really should no better.

Driven by an ongoing shortage of available properties for sale, buyers are being forced to compete hard for good homes, and this was reflected in some of this cross-section of recent results:

Gladstone Park: 59 South Circular Road. Four motivated bidders fought it out at this week’s auction of a classic 1960’s three-bedroom home which we were selling for the original owners. This competitive environment produced an outstanding sale at $701,000 (pictured).

Greenvale: 41 Kirkham Drive. Set high on a corner block with a serene leafy outlook over the nearby Yuroke Creek parklands, this single-level home of three bedrooms and a study saw the SOLD sign go up immediately after the auction. With the contracts being inked at $643,000.

Meadow Heights: 10 Elgata Close. This peaceful four-bedroom home demonstrated the benefit of slightly more extended post-auction negotiations, with the deal being sealed during the week at $580,000.

Tullamarine: 16/112A Mickleham Road. A mix of first home buyers and investors responded positively to our quiet off-market campaign, with this two-bedroom unit close to the Melrose Drive shopping strip changing hands at $510,000.

The important message to come out of results like these, along with the latest data that we mentioned earlier, is that if you are considering making a move in 2022, the last thing you should be doing is being distracted by the unfounded scaremongering in some sections of the media. In fact, the current Spring market could be an opportune time to sell while values are still clearly holding up well.

If you’d like to chat about your options, why not give us a call this week at Barry Plant Gladstone Park on 9330 1088.

Cheers,

Nick Pugliese - Sales Manager

and Bill Karp - Director

Barry Plant Real Estate

Gladstone Park