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Buyer numbers ‘strongest in over 18 months’

Real estate & property news
10 October 2020
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As we all know, the year to date has been one that has had more negative news than positive, both in a general sense and in relation to the property market. So it’s been nice to see the tide turning recently, with some genuinely positive news emerging over the past few weeks.

Clearly, the mind-set of Melbourne homebuyers has changed since restrictions were eased so that we could recommence physical property inspections with strict health controls.

As you may have read in LAST WEEK'S POST, buyer demand was building steadily during the two months that inspections were banned, so it was no surprise that our phones started ringing from the moment that Premier Andrews finished his press conference on September 27th. Indeed, they haven’t stopped ringing since.

This trend was confirmed in Saturday’s Herald-Sun, which reported that had recorded the biggest weekly increase for over 18 months in “high intent buyer activity” on their website. Activity levels during the first week of inspections was up by 24.5%!

These buyer numbers reinforce some internal tracking that our own Barry Plant network has recorded. Following the easing of restrictions on September 28th in metropolitan Melbourne, our group sold or settled more than 250 properties in the space of a week as numerous frustrated buyers rushed to complete their purchases.

What these numbers mean for anyone considering selling in the City of Moonee Valley and surrounding suburbs is that conditions are extremely favourable right now. There are lots of motivated buyers keen to make a move, and there is still a severe shortage of property for them to choose from. The only catch is that there are probably only 8 or 9 weekends left in the year before Melbourne’s attention is likely to turn to Christmas shopping and family gatherings, (assuming of course that we’re allowed to do either of these activities!)

So if you are ready to make a move, and you don’t want to be sitting at home in January thinking “if only”, the time for action has arrived. If you give our team at Barry Plant Moonee Valley a call this week on 9319 1700, we can get the wheels in motion for you very quickly.

We look forward to being of assistance.


Bill Karp

Director – Barry Plant Real Estate

Keilor East & Essendon

Real estate & property news
10 October 2020
Save Article

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