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Records continue to tumble in early Spring market

Real estate & property news
07 September 2019
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If you are one of the many local residents who have been weighing up whether now is the right time to make your next move on the local property market, it’s worth taking a look at some of the factors that are currently boosting demand from a growing number of motivated homebuyers.

Consider these facts:

  1. Melbourne’s auction clearance rates have climbed to levels not seen in almost two years.
  2. Interest rates are at RECORD LOWS, with many experts tipping at least one more cut before the end of 2019.
  3. APRA has eased restrictions on mortgage lending, making home loans easier to get and increasing buyer’s budgets as well.
  4. Attendances at our Open Houses are up substantially, along with the number of active bidders at our auctions.
  5. Data from Corelogic indicates that Melbourne’s median house prices have been slowly rising over the past three months or so.
  6. History shows that the vendors who sell earlier in Spring tend to achieve better results than those who leave their sale until later in the year.

All these points are reinforced by the one factor that EVERY home seller should be paying attention to, and that’s our recent results!

A prime example is the well-presented three-bedroom home (pictured) at 36 Tadstan Drive in Tullamarine, that we were due to auction this weekend. This appealing home made an immediate impact the moment it hit the market, with buyers responding to the beautifully remodelled kitchen, the free-standing bath in the updated bathroom, and the imaginative outdoor entertaining zone. So strong was the interest, in fact, that the vendors decided to accept a convincing early offer rather than wait for their scheduled auction.

The fact that the sale price of $750,000 set a new residential price record for a three-bedroom home in Tullamarine tells you everything you need to know about the wisdom of selling now, rather than waiting for the more crowded market later this year!

So if you’d like confidential chat about the best ways to achieve your own record-setting result, don’t hesitate to give us a call at Barry Plant Gladstone Park this week on 9330 1088.


Nick Pugliese – Director

Barry Plant Real Estate

Gladstone Park

Real estate & property news
07 September 2019
Save Article

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