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Positive market news driving motivated buyers

Real estate & property news
06 July 2019
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Once again this week we have seen the impact of some positive market news pushing home buyers to compete even harder for the limited number of available properties that are currently available, producing some outstanding results for our vendors.

As we all know, the Reserve Bank announced that it was making further cuts to official interest rates on Tuesday, the second such cut in as many months. When you add in the news that median property prices may have bounced back a little in June, and that APRA has confirmed that they are easing the income requirements for home loan applicants, it’s no surprise that buyers are keen to purchase as soon as possible.

This positive market news has produced some outstanding sale results recently, including:

Greenvale: 18 Flourish Circuit

Enjoying a serene position opposite parkland in the popular Greenvale Gardens Estate, this single-level three-bedroom home was presented in as new condition and featured a quality finish befitting its construction by highly regarded builders, Carter Grange. Enjoying easy access to Aitken College, this eye-catching home attracted such strong interest that the vendors decided to accept a convincing early offer rather than waiting for this weekend’s scheduled auction. The winning bid of $652,000 was made by a Greenvale resident looking to downsize whilst staying in the area they know and love.

Greenvale: 9 Lochton Court

Perhaps it the scent of the coffee provided by our free onsite barista helped, but a good-sized crowd turned out for the auction of this potential-packed four-bedroom home in a quiet court near Greenvale Drive Reserve. Set on a generous allotment of around 855sqm, it offered a few unexpected bonuses like an inground pool and a massive five-car garage, so it was no surprise to see a hotly contested auction between four main bidders. It got down to $500 bids once the $700,000 barrier was broken, and it was hard for anyone to walk away when they might have been just $500 away from securing this amazing opportunity. The gavel finally fell at $714,500, which was close to 10% above our vendor’s reserve price…which probably explains the joy on their faces in the picture above!

Keep in mind that if you are keen to take advantage of all this positive market news by selling, the annual Spring Rush is now just a matter of weeks away. When you remember that history shows the majority of the best sales results tend to be achieved in the early part of Spring, rather than later in the year, you really need to start planning and preparing now to make the most of the market.

So if you’d like to discuss your options, don’t hesitate to give us a call at Barry Plant Gladstone Park on 03 9330 1088.

Real estate & property news
06 July 2019
Save Article

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