Competitive bidding isn't always at Auction

Whilst a public auction is certainly the most common way to enable competition between buyers to play out, it is not the only way. In fact, we saw a prime example of this during the week when our team was able to produce an outstanding sale on a modern townhouse (pictured) in Goldsmith Avenue, Preston.

This particular property was a little different to most townhouses, offering raked ceilings, warm timber floors and quality fittings throughout. Being positioned in a price range that appealed to both investors and first home buyers, we expected that we would see strong interest, and we were right.

In fact, so strong was the interest that we ended up with a private bidding duel between multiple buyers, resulting in a very strong sale above $560,000, which was well in excess of our happy vendors’ expectations.

We have also been experiencing very strong buyer demand for brand new townhouses that are yet to be completed, with many buyers keen to buy off the plan or during construction. We saw another one of these sales completed during the week on a new project in Mount Street, with plenty of interest from buyers in the mid-high $700,000’s bracket.

The important lesson for anyone considering a sale before the end of 2017 is that there are several different ways to achieve your goal. So, if you’re keen to make a move, and to do it productively, why not give one of our team a call this week.