Winter Auctions bringing 100% results

Many Melbourne residents assume that there is a big difference between the ‘peak’ seasons and the quieter times in the real estate market, but the simple fact is that home buyers are active all year round and, whilst there is an increase in activity at certain times of the year, the difference between the busiest season and the quietest is actually surprisingly small. Indeed, there was a 10-year study done a few years back which revealed that more than 20% of Australian property sales take place in Winter, whilst the busiest season of the year sees less than 30% of total sales.

One thing we have learned over the years at Barry Plant Inner-North is that a motivated buyer will never let a bit of rain or a chilly forecast stop them going house-hunting. This is even more relevant in the current market when new property listings are in short supply. Indeed, when you look at the Law of Supply & Demand, there is a strong argument for selling your home in Winter when there are far fewer properties on the market, (and therefore less competition), rather than waiting for the traditional Spring rush.

This thought has been at the forefront of our thinking in the past few weeks, with all our Winter auctions to date achieving a 100% success rate for our vendors. Our auction this weekend of a contemporary three-bedroom villa unit in McNamara Street Preston was another example. Set at the rear of a block of two, this private retreat made a real impact on buyers with its convenient, low maintenance lifestyle. Located within moments of cafes, trams, parks, shops and the local primary school, this fresh, modern unit enjoyed a great northerly aspect and alfresco entertaining in a private courtyard setting.

In the end, three highly competitive bidders fought it out, pushing the final bid to $773,000 which was well above our happy vendor’s reserve price. As you can see from the photo, the buyer seemed pretty happy with the result too.

If you’re interested in discussing the benefits of Winter auctions for your own property, or whether an alternative sale method might suit you better, why not give one of us a call this week.