Chat with us, powered by LiveChat

Over 100 bids confirms buyer urgency

Real estate & property news
21 December 2019
Save Article

When you have an auction that attracts 116 bids from five highly motivated buyers, you know that the property market is in good shape. When that auction is conducted on the weekend before Christmas, it is clear that the property market is in far better shape than many people realise.

More importantly, results like this augur well for anyone planning on selling in 2020, particularly those who will be ready to put their property on the market early in the new year, when all those buyers who have missed out to date will be so keen to secure their next home before the year gets too old.

Some of our late-December sales have included:

Airport West: 3/71 Bowes Avenue

This brand new three-bedroom townhouse with the extra flexibility of three bathrooms was sold for $800,000 after competitive mid-week negotiations.

Airport West: 3/9 South Road

Hot on the heels of last week’s successful auction of its neighbour at 1/9, this newly completed three-bedroom townhouse was sold during the week for a very satisfying $835,000.

Avondale Heights: 13 Arbor Terrace

Having been owned by the one family since it was built in the 1950’s this potential-filled three-bedroom home on a generous 750sqm block attracted interest from the moment it hit the market. Few would have expected the level of competition it attracted, however, with five bidders placing 116 bids before the gavel fell at $1.041 million, more than 20% above our startled vendor’s reserve!

Essendon: 25 Peterleigh Grove

Like the property above, this charming three-bedroom Art Deco original had been in the one family for around 80 years! A competitive auction also saw the vendor’s reserve exceeded, with the contracts being inked on this one at $1.43 million.

Keilor East: 1/1 Woorite Place

This brand new three-bedroom townhouse (pictured) was located within walking distance of quality schools like Penleigh & Essendon Grammar School, as well as Centreway shops. It attracted such strong interest that we had two buyers competing for the keys well before this week’s scheduled auction, resulting in an excellent early sale at $680,000.

Maribyrnong: 8/38 Middle Road

This low-maintenance two-bedroom apartment near the river attracted the attention of a mix of first home buyers and investors, resulting in a mid-week sale at $380,000.

Maribyrnong: 14 Duffy Street

A highly productive campaign that made extensive use of social media was brought to a head at a well-attended twilight auction on Monday, where this four-bedroom home a stone’s throw from the river was sold under the hammer for a very pleasing $1.281 million.

Having finished the year on such a high note, our team will be taking a short break with both offices closing at 12 noon on Tuesday December 24th and reopening on Monday January 6th.

In closing, I would like to wish all our valued clients, friends, suppliers and colleagues all the best for the festive season. I hope you have a safe and relaxing break, and that 2020 brings all your property dreams to reality.

Best wishes,

Bill Karp

Director – Barry Plant Real Estate

Keilor East & Essendon

Real estate & property news
21 December 2019
Save Article

Get more from Barry Plant.
Sign up for our newsletter

Sign up now to stay informed about market trends, investment opportunities, and exclusive property listings. Don't miss out on valuable insights - join our community today!