Low maintenance properties a big attraction

This increased demand for low maintenance properties, (a trend that seems to be coming from all types of buyers from many first home buyers and investors right through to down-sizing retirees), was evident again this week during the auction of an older style apartment in the ‘James Place’ development in James Street, Preston.

This light-filled, two-bedroom ground floor apartment (pictured) enjoyed a well-established garden outlook with the bonus of a private entertaining courtyard at the rear. It also enjoyed easy access to the buses on Murray Road, and was within walking distance to the Merri Creek trails.

Today’s auction saw four strong bidders competing, with the eventual sale price of $515,000 being comfortably above our happy vendor’s reserve price.

Another mid-week sale of a more modern 1-bedroom unit in Benambra Street also confirmed the strength of demand for these types of properties. Whilst it was on the market with an asking price of $347,500, three buyers all wanted to make offers, resulting in an eventual sale at $360,000 – a great result for our vendors.

With several other recent sales in this low maintenance category, ranging from modern apartments to older villa units and townhouses, it is clear that there is plenty of buyer interest in anything offering reduced maintenance and enhanced lifestyle benefits!

With such strong buyer interest in low maintenance properties of all types in our part of the inner northern suburbs, anyone considering a sale should be careful to plan their campaign carefully so as not to miss any opportunities.

Of course, no matter what type of property you may be considering selling, our team at Barry Plant Preston is always happy to provide you with obligation-free advice. If you would like to discuss your options, don’t hesitate to give is a call at any time.