Competitive bidding continues to push prices

Two auctions this week in Preston and Thornbury tell the tale.

Architectural extensions had enhanced the appeal of a charming three-bedroom Californian Bungalow in Young Street in Preston (pictured), particularly given the emphasis on sustainability with the clever use of selected timber features, passive solar design and double glazing. Enjoying a sought-after location south of Bell Street, this appealing property attracted a big crowd with multiple bidders trying their best to secure the keys. The resultant price of $1.315 million surprised many onlookers, and was a pleasing result of a highly successful campaign.

Meanwhile, over in Wales Street in Thornbury, (just a stone’s throw from the highly regarded Wales Street Primary School), potential was the word on everyone’s lips. The free-standing brick Edwardian three-bedroom home enjoyed a good-sized allotment of over 600sqm and a location that gave ready access to the many lifestyle benefits that Thornbury is known for. Whilst not the ‘finished package’ of our auction in Preston, this property certainly attracted interest from several keen renovators, builders and investors who were keen to the future potential. As a result, this property also exceeded its reserve after a competitive and well attended auction.

Clearly any form of free-standing home on its own block is a popular option in the inner north right now. However, it is worth remembering that we are experiencing strong buyer demand for all types of property in this area right now. So if you would like a really exceptional sale, and you’re keen to achieve that before Christmas, don’t hesitate to give us a call at Barry Plant Preston and Northcote.