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Competition up as stock levels tighten

Real estate & property news
30 April 2022
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Activity levels in the Moonee Valley property market this week confirmed one of the unchallenged rules of real estate…reduced stock levels means increased competition between buyers.

We saw several examples of this both during the week and on the weekend, as this cross-section of recent results confirms:

Airport West: 4/93 McNamara Avenue. Enjoying easy access to the retail and dining strip on McNamara Avenue, this two-bedroom townhouse was one of the many successful auction sales this week.

Essendon: 5/158 Napier Street. This one-bedroom apartment made use of a highly effective Sale by Set Date® campaign, selling several weeks before offers were due to close.

Essendon: 107 Spencer Street. Offered for sale with plans and permits already approved for four new residences, this corner block saw spirited bidding that pushed the price all the way to $2.21 million, more than $150,000 above the published reserve.

Keilor East: 11 Wingara Avenue. A well targeted auction campaign produced a pleasing sale at $900,000 for this stylish three-bedroom home (pictured), attracting interest from a mix of young families and local downsizers.

Keilor East: 38 Lincoln Drive. Such was the early interest in this potential-packed three-bedroom home, that an early offer of $1.1 million convinced our vendors not to want for this week’s scheduled auction.

Keilor East: 7 Quartz Court. Capturing uninterrupted views over Valley Lake, this striking four-bedroom, four-bathroom luxury home produced an outstanding mid-week sale at $1.76 million.

Keilor Park: 56 Fosters Road. The freshly updated interiors of this light-filled family home certainly made an impact on buyers, with this week’s auction seeing the price soar well beyond expectations before finishing at $865,000.

Moonee Ponds: 117 Eglinton Street. It was the well located corner block rather than the older style home that attracted the interest here. A competitive auction saw the bidding rise more than 10% above our happy vendor’s reserve before the gavel fell at $1.465 million.

Niddrie: 24 Diamond Street. Impressive contemporary renovations added to the appeal of this well placed three-bedroom home. The SOLD sign went up at $1.1175 million.

Results like these are good news for anyone considering selling before the full impact of the Winter chills arrive. So if you’d like some advice or assistance on getting your property ready, or you’d like an update on what it could achieve in the current market, feel free to give our team at Barry Plant Moonee Valley a call this week on 9319 1700.

Best wishes,

Bill Karp

Director – Barry Plant Real Estate

Keilor East, Essendon & Gladstone Park

Real estate & property news
30 April 2022
Save Article

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