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Market Update: September 9th

Real estate & property news
09 September 2023
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There may have been a shortage of the sunshine we normally associate with Spring in Melbourne this weekend, but there was no shortage of competition between determined buyers at many of this week’s auctions.

As you can see from this cross-section of recent results, buyers are putting their best efforts into securing their next home in a variety of settings, both at auction, through private negotiation and in our unique Sale by Set Date® campaigns.

Airport West: 48A Fraser Street. This cutting edge townhouse with its own street frontage and driveway offered three bedrooms and a study area, appealing to time-poor families. This week’s auction saw the SOLD sign go up above the reserve, reaching $820,000.

Essendon: 2/53 Nimmo Street. One of two upmarket town residences sold by our team this week, this four-bedroom, three-bathroom sold well before offers were due to close on a well-targeted Sale by Set Date® campaign, achieving an impressive $1.8 million during the week. Everyone involved were certainly excited to have completed the deal after the negotiations were completed.

Essendon: 86A Bradshaw Street. The second of these notable sales proved the value of professional post-auction negotiations. Passed in last weekend at $1.75 million, this four-bedroom, three-bathroom showpiece was sold during the week for $1.905 million.

Keilor East: 10 Fawkner Crescent. This 54-year old clinker brick home attracted plenty of attention from the moment it hit the market. Offering three bedrooms and two bathrooms, the auction produced an outstanding result, selling well above reserve for $1.065 million (pictured).

Keilor East: 31 Pumice Court. Standing proudly on the corner of the court, a short walk from Valley Lake, this double-storey home of three bedrooms and a study sold several weeks before the closing date on a Sale by Set Date® campaign, producing $1.22 million.

Maribyrnong: 6/127 Raleigh Road. Part of a boutique group located close to Highpoint and the river; this light-filled two-bedroom contemporary townhouse enjoyed a strong mid-week sale at $550,000.

Moonee Ponds: 23/51 Buckley Street. The opportunity to secure a Moonee Ponds address in an entry-level price range proved a popular one, with this single-bedroom flat selling in the first week of its campaign, realising $305,000.

Just keep in mind, as I often advise clients in the City of Moonee Valley, Spring doesn’t last forever. So if you’re keen to make a move while the weather is such a positive influence, I’d suggest that you start getting the wheels in motion as soon as possible. Feel free to give our experienced team at Barry Plant Moonee Valley a call on 9319 1700.

Best wishes,

Bill Karp

Director – Barry Plant Real Estate

Keilor East, Essendon & Gladstone Park

Real estate & property news
09 September 2023
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