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Latest data shows positive signs for City of Hume

If you’re a regular reader of these weekly Updates, you’ll already be aware that we have been reporting definite signs of a rebound in property values around the City of Hume, despite the impact of multiple increases in interest rates over the past year or so.

What was interesting is that the latest quarterly price data from Corelogic has confirmed this perception with hard data. In fact, the latest numbers to the end of September show that multiple suburbs around the City of Hume are now back within 1 per cent of the median prices that were being recorded at this time last year. In fact, areas like Attwood and Greenvale are now reporting prices above what was being tracked at this time in 2022.

This strong demand for local property was reflected in our team at Barry Plant Gladstone Park being able to achieve another 100 per cent auction success rate for the second weekend in a row.

Last weekend we saw a three-bedroom home in Fernie Place, Attwood achieving its own “premiership “result on Grand Final day when it sold for $750,000. This weekend, the four-bedroom double-storey home in Oakbank Court, Roxburgh Park was sold within minutes of the auction, after productive negotiations saw the SOLD sign go up at $770,000.

Of course, several other properties that were scheduled to be auctioned this week enjoyed early results prior to auction day, including one in Candy Road, Greenvale that produced $1.1 million (pictured), and another in Posy Street, Greenvale that saw the contracts inked several weeks before the auction at $905,000.

Whilst results like this show what is possible in the current market, keep in mind that we now have just eleven Saturdays left until Christmas (hard to believe, but true)! So if you’d like to bring your own property plans to reality in 2023, and you’d like an accurate update on how much more your current property could be worth with the right marketing and negotiation skills behind it, why not give us a call this week at Barry Plant Gladstone Park on 9330 1088.

Regards,

Bill Karp - Director

Barry Plant Real Estate

Gladstone Park

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