Open Houses stop, but results don’t

If you were to believe what some sections of the media have been saying, you might have assumed that the property market in Melbourne had ground to a complete halt as a result of the Covid-19 restrictions. But as we pointed out in last week's update, people still want to buy property, they still want to sell property, and they still want to lease it!

Sure, many of these dealings may be taking place with the assistance of the internet, from video property inspections to online auctions, but the desire to move on to the next phase of people’s property life is still there.

One of our recent results provides a telling example of this urge. The property in question was an imposing three-bedroom period home called “Roselea” (pictured), situated in Sumner Avenue, Northcote.

This appealing home on around 550 sqm of land presented prospective purchasers with an exciting opportunity to work with the existing period features to create something remarkable in the highly sought-after Northcote High zone.

Buyers responded positively to key elements like the leadlight windows and fretwork, the deep rear garden and abundant off-street parking. The location in Northcote’s Sumner Estate was also a plus, with the Merri Creek parklands right around the corner and Fitzroy being within walking distance.

Being so close to so many of the lifestyle benefits that this part of Northcote is known for, this was an opportunity that should attract buyer interest in any market. The key fact for interested market watchers is that “Roselea” found buyers at a great price within two weeks of hitting the market, and despite all the negativity in the media. The vendors were understandably thrilled with the result.

The lesson here is clear, if you have a need to sell a property in the inner north of Melbourne right now, you should be able to do so knowing that there are buyers out there that are ready to buy. The key ingredient is putting your property in the hands of experienced real estate professionals who have dealt with all types of market conditions in the past and know how to remain focused while those around them panic.