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Growing demand continues to boost market

Real estate & property news
03 August 2019
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If you’ve been staying up-to-date with the news recently, you’ll already know that a growing number of experts are saying that there are not enough homes available for sale to meet the growing demand from buyers who have been renewed following the federal election and back-to-back interest rate cuts.

In fact, CoreLogic returned a preliminary auction clearance rate of 74% last week, which CoreLogic analysts say was our highest clearance rate since the Australia day weekend of 2018…that’s around 18 months ago!

The effects of growing demand have certainly been noticeable in many of our recent results, including:

Greenvale: 12 Straw Flower Circuit

The unusual raked roofline of this single-level four-bedroom home certainly attracted attention, as did the location which provided easy access to the highly regarded Aitken College. The value of experienced negotiation skills came to the fore here, with negotiations after the auction resulting in a pleasing sale at $496,500.

Greenvale: 81 Frontier Avenue

Enjoying an elevated position in the ever-popular Aspect Estate, this three-year-old four-bedroom home featured a flexible floorplan that catered for the changing needs of a growing family. Productive post-auction negotiations also played their role here, with an excellent mid-week sale being completed at $582,500.

Westmeadows: 11 Dooen Court

Situated in the head of a quiet child-safe court not far from Westmeadows Primary School, and sitting on a generous level allotment of around 662sqm, this neat and tidy three-3 bedroom home (pictured) attracted the attention of first home buyers and investors who were keen to renovate, along with a few local builders who saw value in the block itself. In the end the renovation potential won out, with the auction producing an excellent sale at $435,000.

Make no mistake, the combination of growing demand and a limited supply of new listings is creating a highly favourable market for sellers in the City of Hume right now, but there are no guarantees that this imbalance will continue for the rest of the year. So if you are planning a move in 2109, and you don’t want to miss the boat, why not give us a call at Barry Plant Gladstone Park this week on 03 9330 1088.

Real estate & property news
03 August 2019
Save Article

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