The law of supply and demand came into clear focus again today. With only a few hundred auctions being conducted due to the long weekend, buyers had fewer opportunities to compete. Not great news for those who are anxious to buy, but great news for those who were prepared to offer their property to the buyers this weekend. Our single auction today proved once again that vendors can often achieve outstanding results simply by holding auctions when there is less competition from other sellers. The fact is that motivated buyers will not miss an opportunity to secure a property, no matter what day or time the auction is held…yes, even on a long weekend. Today’s auction of a triple-fronted 3-bedroom home (pictured) on 725 square metres of land in Hoffmans Road, Essendon West, attracted a mix of family home buyers, investors and developers. Being located within minutes of several quality schools, and with the retail strip of Keilor Road at the end of the street, the long-term appeal was clear. However, few of the onlookers would have expected to see this property selling for a very satisfying $1.17 million. Results like this one provide further proof that, (as I touched on in last week’s post), the only thing that slows down in the Moonee Valley property market at this time of year is the supply of new listings. This forces buyers to compete even harder to secure a property, so if you’re keen to make the law of supply and demand work in your favour when you sell, feel free to give me a call. Best wishes, Bill Karp Director – Barry Plant Real Estate Keilor East, Essendon & Niddrie