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Another 100% result as interest rates begin to fall

No doubt, there were quite a few market observers who were wondering about the impact of the recent cuts to home loan interest rates by several of the ‘Big Four Banks’, and whether this would impact buyer demand this weekend.

In fact, not only did the Barry Plant group achieve a healthy 90 per cent auction success rate this week, our team at Barry Plant Gladstone Park was able to produce another 100 per cent result for our vendors in the City of Hume, confirming the growth in confidence among local homebuyers in recent months.

A prime example of what is happening right now in the local property market was on display at this week’s auction of a double-storey three-bedroom home in Briar Close, Gladstone Park.

Being set on a versatile corner block close to Gladstone Park Shopping Centre, this was a location that had enormous appeal for time-poor families. Importantly, whilst it provided a comfortable and convenient setting right now, it was also clear that there was plenty of scope for a future upgrade if desired.

This home attracted good interest throughout the campaign, with three determined bidders fighting it out on the day and several others who didn’t get the chance to raise their hands. In the end, the auctioneer’s gavel fell at a very satisfying $730,000 which, as you can see from the photo, resulted in some very happy new homeowners!

Results like these show that an increasing number of people are becoming aware of the changing state of the property market in our part of Melbourne. In fact, you may be thinking about making your own move in the coming months, so if you need any assistance in making your plans a reality, you can give the team at Barry Plant Gladstone Park a call this week on 9330 1088.

Best wishes,

Bill Karp - Director

Barry Plant Real Estate

Gladstone Park

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