Increased competition is producing big results.
With so much focus over the past week or two on rising property prices and the growing demand from home buyers for property in a market where the number of new listings is so limited, it was no surprise this week to see some fierce competition between buyers who are keen to secure their next home before the market rises even further.
Some of our recent results include:
Airport West: York Street. A brand-new contemporary two-bedroom townhouse with the trams and shops at the end of the street attracted interest from several market entrants before selling for $460,000.
Airport West: Parer Road. Another brand-new townhouse, this time offering four bedrooms and two bathrooms, achieved a very satisfying mid-week sale at $840,000.
Keilor East: Woorite Place. As we mentioned a couple of weeks ago, a near new contemporary townhouse close to the Centreway shops had been scheduled to be auctioned this week, but strong early interest saw the SOLD sign go up at $585,000.
Keilor East: Buckley Street. A prime corner allotment of just under 600sqm and a north-facing rear yard proved a popular combination, with an older family home changing hands after the auction produced an impressive sale at $925,000.
Keilor East: Nicholas Court. Making the most of a sweeping street frontage, this four-bedroom family home (pictured) attracted plenty of attention from local upsizers, resulting in a terrific auction sale at just under the $1 million-mark.
Keilor Park: Flinders Street. A thoughtful renovation of this three-bedroom home made all the difference on auction day, with solid interest producing a pleasing sale at $702,500.
Moonee Ponds: Mt Alexander Road. A modern two-bedroom apartment utilised our unique Sale by Set Date® methodology with a sale being achieved several weeks before offers were originally scheduled to close.
Niddrie: Crespin Street. Enjoying easy access to the shops and cafes on Keilor Road, this near new three-bedroom townhouse enjoyed a strong mid-week sale at $790,000 as a result of some competitive interest from several local buyers.
Niddrie: 37 Jackson Street. Potential was the word on everyone’s lips at the auction of a two-bedroom home on a great block of around 650sqm close to schools, shops and Buckley Park. A competitive auction saw the gavel fall at $1.305,000.
Make no mistake, the current market is being driven by situation where there are far more buyers than there are properties available for sale, with fierce competition pushing prices higher in many cases. If you are considering selling and would like to discuss the best way to maximise your result in the current climate, feel free to give the team at Barry Plant Moonee Valley a call this week on 9319 1700.
We look forward to being of assistance.
Best wishes,
Bill Karp
Director – Barry Plant Real Estate
Keilor East & Essendon