Winter of 2019 ends with a bang
Yes, the official start of Spring is now here, which means that many local residents will be turning their focus to their property plans for the future and considering whether this is the right time to make their next move.
It was interesting to see that the property market in the Winter of 2019 ended in much the same way that it had performed throughout the past three months…with buyers outnumbering sellers, resulting in fierce competition for the limited number of available homes.
One prime example of this took place at our auction of a three-bedroom home at 3 Yarrah Court, Gladstone Park. Being situated in a family-friendly cul-de-sac within walking distance of the Gladstone Park Shopping Centre, Gladstone Park Primary, Secondary and recreational facilities, we knew this one would be popular with local families. Maybe the Barista-made coffee we provided helped, but a huge crowd turned out for the auction with 11 registered bidders keen to secure the keys. The bidding started at $500,000 and quickly passed the vendor’s reserve of $560,000, but it didn’t stop there. In fact, the winning bid of $635,000 was a very satisfying $75,000 above our happy vendor’s expectations! As you can see from the photo, all parties seemed very happy with the result.
Another example involved our a three-bedroom home at 3 Yarck Court, Westmeadows. This property attracted so much interest that the planned auction was brought forward to an in-house auction conducted in our offices on Saturday afternoon. Once again, the bidding exceeded our happy vendor’s reserve, with some happy first-time buyers securing the property for $476,000.
The growing demand for property in this area hasn’t been restricted to houses either, with another SOLD sticker going up on a vacant 392sqm homesite in Greenvale’s Nova Estate this week, with mid-week negotiations seeing contracts being finalised at $380,000.
So, with the Winter of 2019 now behind us, and all the possibilities of the Spring property market in front of us, the key for anyone planning on making a move is to do so with a minimum of stress and a strategy that maximises your returns. If you’d like to discuss the best way to achieve your goals, feel free to give us a call at Barry Plant Gladstone Park this week on 9330 1088.
Cheers,
Nick Pugliese – Director
Barry Plant Real Estate
Gladstone Park