Financial year closes on a high note

As I’m sure you’re aware, this week saw the end of the 2019-2020 financial year, and what a year it’s been for so many different reasons! Who would have thought at this time last year that we were heading into a year of horrific natural disasters like January’s bushfires, a world-wide pandemic that would see widespread lockdowns, plus all the other challenges that arose along the way.

Despite all the potential negativity, I am pleased to report that not only has the property market in our part of Melbourne shown remarkable resilience over the past twelve months, it finished off on a particularly strong note over the final six weeks of the year.

As you may have seen in the papers recently, the Barry Plant network as a whole has been achieving some terrific results recently, with monthly sales numbers jumping by 25% in May. Here at Barry Plant Gladstone Park our sales in June were not only up on the same month last year, but the good news for buyers was that our new listings in June outpaced our sales, so the next couple of months are looking very positive indeed!

Some of the recent highlights worth noting were:

Vacant land sales: The recent launch of the Homebuilder stimulus package has intensified interest in vacant land from buyers keen to build a new home. Our team achieved some outstanding results on vacant homesites in June, particularly in Greenvale where SOLD signs went up on three blocks in one week alone!

A market at 6’s and 7’s: One look at our recent sales data shows that buyer activity has been particularly strong in the $600,000’s and $700,000’s, with recent sales in this bracket occurring in Gladstone Park (4 properties) and Greenvale (2 properties).

Cambridge Gardens a popular choice: This popular pocket of Attwood has continued building a strong following in the past year. Recent sales have ranged from an abandoned home in Maddingley Road which sold for an impressive $640,000 to multiple sales in the $1.2-$1.3 million bracket, such as the home in Sidgewick Street pictured above.

Buyers still acting early: As we have reported in the past, there is a clear trend towards buyers making strong offers prior to auction rather than waiting for auction day. We saw another example of this in Heversham Grove in Greenvale this week with our vendors accepting a massive early offer of $845,000 which was well above expectations.

When you look at results like these, there is every reason to be positive about the property market as we move into the new financial year. But keep in mind that in order to maximise you result when selling you need to move forward with the benefit of a mature and strategic advice from an experienced team who are capable of navigating you through these unprecedented times. So don’t hesitate to give us a call at Barry Plant Gladstone Park if you have any questions on 9330 1088.

In the meantime, stay safe.

Cheers,

Nick Pugliese – Director

Barry Plant Real Estate

Gladstone Park