Property sales can sometimes make history
Firstly, we wanted to start this week’s Market Update with a quick thank you to all those readers who were clearly intrigued by last week's post regarding the increasing impact that women are having on the property market. Obviously, those numbers came as a surprise to some people, although probably less so for those of us who work with the market on a daily basis. It seems that changing the perceptions of history is becoming a more common practice as each year passes.
Speaking of history, the team at Barry Plant Preston got to make a little history today for one local family when we were asked to auction a grand solid brick Californian Bungalow (pictured) called “Strathmore” in William Street, Preston.
The reason this auction was so notable from a family history point of view was that the property had been in the one family since new and was being offered for sale for the first time ever. That’s obviously not something that happens too often nowadays!
The home itself offered plenty of renovation potential with leadlight windows, ornate ceilings, tessellated tiles, polished hardwood floors and a claw foot bath. However, these were balanced a few modern-day comforts like Ilve kitchen appliances and ducted heating.
Add in a terrific location close to the Station and Preston Market, and it was no surprise to see plenty of buyer interest from the moment it hit the market. However, there plenty of raised eyebrows and open mouths among the crowd when five determined bidders pushed the price well over our vendor’s reserve, finally reaching a conclusion at a remarkable $1.195 million!
We also saw some strong activity in the commercial property market this week when the team was able to negotiate a terrific result on 167 sqm of office space on High Street. Three buyers put forward offers, with the result being a strong sale at $787,500.
The key to achieving better than expected results in the current market, whether you’re selling period homes, modern apartments or commercial premises, comes down to understanding the local market and structuring a campaign that fits the specific market for your property.
So, if you are considering making a move and would like a confidential chat about the best way to achieve that goal, feel free to call on us at any time.
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