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Market data continues to exceed expectations

Real estate & property news
17 June 2023
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As you may have seen this week, the latest auction figures from Domain show that Melbourne’s auction clearance rate last month had rebounded to levels that haven’t been seen in over 18 months.

For those that may have missed the reports, the latest auction data from Domain indicated that the auction clearance rate in May was 70.2 per cent. This is the first time this monthly market statistic has been above 70 per cent since October 2021.

If you follow our social media channels, of course, you may already be aware that our Barry Plant network is continuing to lead the way for the Victorian real estate industry with an auction success rate in May that was comfortably above 80 per cent.

The underlying confidence in the Melbourne property market generally, and the City of Moonee Valley specifically, can be seen in many of our recent sales results. They include:

Avondale Heights: 11 Intervale Drive. This modern low maintenance single-level home of three bedrooms and two bathrooms sold above the vendor’s reserve at this week’s auction, with the gavel falling at a very satisfying $822,000.

Avondale Heights: 54A Wood Street. Another example of the attraction of modern low maintenance living on a subdivided block, this stylish three-bedroom home on an appealing tree-lined street with the riverside trails a stone’s throw away saw three bidders push the price well above the reserve before reaching $945,000.

Moonee Ponds: 206/9 Shuter Street. Part of a well located building designed by award-winning Architects, Jackson Clements Burrows, this rare three-bedroom, three-bathroom apartment (pictured) was sold prior to the closing date for offers via a Sale by Set Date® campaign.

Niddrie: 90A Hotham Road. The power of professional post-auction negotiations came to the fore with this modern double-storey four-bedroom home with good access to quality schools including PEGS. The SOLD sign went up during the week at $1.3 million.

Niddrie: 46 Jackson Street. This 1950’s three-bedroom home and bungalow had buyers excited about the potential for the future. Having been owned by the one family for 68 years, three bidders took the price to $1.4 million, well beyond our excited vendor’s expectations.

With our team putting up SOLD signs so consistently across the City of Moonee Valley recently, it’s a great time to get an update on what your own property could achieve in the current market. If you’re curious to find out, don’t hesitate to give one of our team at Barry Plant Moonee Valley a call this week on 9319 1700.

We’re always happy to assist.

Best wishes,

Bill Karp

Director – Barry Plant Real Estate

Keilor East, Essendon & Gladstone Park

Real estate & property news
17 June 2023
Save Article

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