Real estate stock shortage drives another 100% auction result
Regular readers will know that we have been talking about the effects of an ongoing shortage of new property listings for quite some time. As recently as last week's update we suggested that the limited number of new properties hitting the market in the inner northern suburbs was forcing buyers to compete even more strongly than usual. So we have to acknowledge that these conditions have certainly played a role our team achieving yet another 100pc Auction result this week.
Among our recent results were:
4/22 Furzer Street, Preston
Our recent run of excellent results on modern low maintenance residences continued this week with the sale of another of the contemporary townhouses in this recently completed group of four. Offering two bedrooms upstairs with a small study nook, generous open plan living downstairs and all the wanted comforts, this one proved to be a popular offering, selling for $695,000.
13 Symons Street, Preston
This appealing 2-bedroom home was situated on a 600sqm allotment with a rear gate opening onto Larkins Reserve, and offered scope for those wishing to renovate, extend or even redevelop. A very pleasing sale at $880,000 produced smiles all round at this week’s auction.
68 Roseberry Avenue, Preston
Competition proved to be a decisive factor in the sale of this attractive 5-bedroom home which combined an unassuming period-style front façade (pictured) with an expansive two-storey extension at the rear. Providing further proof of the value of ongoing post-auction negotiations, this property achieved an outstanding seven-figure sale price that exceeded its asking price when more than one buyer got involved in negotiations. The end result…one happy vendor.
One interesting fact you’ll notice in this 100pc Auction result is that these sales cover a wide variety of property types and price ranges. So no matter what kind of property you own, if you are considering making a move you should be able to do so with real confidence.
Of course, if you’d like to discuss the key ingredients that went into producing results like these, you can give one of our team at Barry Plant Preston a call at any time.
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