With this in mind, I thought it would be the ideal opportunity to look at the latest figures that have emerged this week from a couple of key sources, Corelogic and realestate.com.au.
The latest figures from Corelogic this week pretty much confirmed what most of us already suspected; that house and unit values have regained all the ground that was lost during the Covid-19 lockdown, plus a bit. Tim Lawless, the Research Director at Corelogic, confirmed this week that according to their data, whilst prices had fallen nationally by 6.1 per cent since a peak in April 2020 due to the impact of Covid-19, values have rebounded in recent months by 6.7 per cent, more than regaining the slight loses.
The latest figures from REA go a long way to explain why this has happened. Their buyer tracking insights show that buyer activity levels on their website are currently 72.8 per cent higher than they were at this time last year, (the time that the previous price record was recorded).
Figures like these are certainly good news for anyone planning on selling a property this Autumn, and we saw another example of this in the recent sale of a stunning heritage-influenced family home in Threadneedle Street, Attwood (pictured).
This eye-catching single-level home combined Federation styling and a deceptively spacious four-bedroom floorplan with a park-fringed location in the heart of the ever-popular Cambridge Estate. Extensive use of heritage style features such as leadlights, ornate cornices and fireplaces certainly made an impact on the many buyers who inspected, as did the delightful outdoor entertaining zone complete with a pool.
The campaign culminated in an excellent result for our vendors, with productive post-auction negotiations resulting in an excellent sale at $1.05 million.
Market statistics like those above, along with recent sales results across the City of Hume, are certainly cause for confidence for anyone thinking of making a move this Autumn. If you’d like to discuss your options on how to achieve a better-than-expected result for your own property, you can give the team at Barry Plant Gladstone Park a call this week on 9330 1088.
In the meantime, I hope you have a safe and enjoyable Easter, and that the Easter Bunny is kind to you.
Nick Pugliese – Director
Barry Plant Real Estate