A big week in Melbourne's inner-north
Hot on the heels of last week’s Market Update where we pointed out THE IMPACT OF SOME OF THE CHANGES we have seen in the property market in Melbourne’s Inner-North, we’ve seen a fairly remarkable week for the property market with some exciting changes taking place that should please home buyers and owners alike.
Firstly, no matter who you supported in the election, there is no doubt that the resultant certainty regarding negative gearing and capital gains taxes is good news for the property market. The promised additional assistance for first home buyers won’t do any harm for the lower end of the market either.
More importantly, the positive news on the outlook for interest rates, (with some experts predicting as many as THREE cuts to official interest rates before the end of 2019), plus the news that APRA is aiming to make changes that will make gaining approval for your home loan a bit easier, has made this week a very good one for the property market in Melbourne’s Inner-North.
These positive changes certainly had an impact on this week’s activity, including:
Preston: 100 Plenty Road
A quiet off-market campaign produced an excellent result for the vendors of a modern two-bedroom apartment (pictured) with lots of shops, cafes and eateries on the doorstep. The SOLD sign went up during the week at $385,000.
Preston: 43 High Street
Another two-bedroom apartment, this time on the second level of the popular M1 Urban complex on the edge of Thornbury, found new owners during the week after strong competitive interest.
Preston: 99 Gower Street
Our recent run of strong results on brand new townhouses continued with the successful sale of one of the two-bedroom residences in this well-located group within walking distance of the shops and cinemas at Northland.
Thornbury: 115 Shaftesbury Parade
Providing an affordable entry to the cosmopolitan lifestyle of Melbourne’s Inner-North, this sun-filled single bedroom flat enjoyed a coveted location nestled in the midst of the Merri Creek parklands, St Georges Road trams and cafes, and popular High Street. A mix of first home buyers and investors showed plenty of interest before the sale was completed.
Remember, if you are considering selling in Melbourne’s Inner-North and would like some experienced and informed advice from people who know how to get results, don’t hesitate to give our team at Barry Plant a call.
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