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House prices defying forecasts

If you saw the news during the week that Melbourne’s house prices had actually levelled out during the September quarter rather than dropping in response to the tight pandemic restrictions, (as confirmed by the latest quarterly Domain report), you might have wondered how some of those ‘doom and gloom’ forecasts in the media had got is so wrong.

What many of these ‘so called experts’ lack when making these predictions is any kind of real life, hands-on understanding of what the property market is doing. They look at numbers and charts, but they’ve never actually seen what happens on the ground when there are substantially more buyers in the market than there are properties for sale…and that’s what we’ve been experiencing in the Brimbank property market during 2020, despite the social distancing restrictions.

As a result, we are continuing to achieve some outstanding sales results for our vendors, and we expect that demand will lift even further as restrictions are eased in the coming weeks.

Here’s a snapshot of some of our recent results:

Hillside: 41 Allenby Road. Situated within a short walk of Copperfield College, this single-level four-bedroom home was declared on the market at $600,000, with strong competition taking the eventual sale price all the way to $675,000.

Hillside: 5 Ridge Lane. This neat three-bedroom home with extra car accommodation in the Bellevue Hill Estate attracted strong interest from the day it hit the market and was sold well before this week’s scheduled auction for $695,000.

St Albans: 5 Conrad Street. This potential-filled three-bedroom home near Churchill Reserve attracted interest from renovators, investors and builders before selling for a very satisfying $586,000.

St Albans West: 6 Grist Street. Potential was also a key factor in the rapid sale of this two bedroom home just around the corner from Iramoo Wildlife Park.

Sydenham: 64/21-29 Trickey Avenue. Part of a popular and ultra-convenient block near Watergardens, this modern two-bedroom apartment achieved a pleasing mid-week sale at just over $300,000.

Sydenham: 19 Sacras Court. Four bidders fought it out for this compact four-bedroom home entry-level home, with the successful bidder placing on online bid of $580,250.

Sydenham: 2 Bhangoo Court. Boasting easy access to Watergardens, this three-bedroom home attracted 7 bidders, (4 onsite, 3 online), and soared well past the vendor’s reserve to sell for $626,100.

As we mentioned earlier, the scene is set for some fantastic results in the next month or so, so if you’re thinking of making a move, feel free to give the team at Barry Plant St Albans a call this week on 9367 7044.

We look forward to hearing from you.

Cheers,

John Aaron Nakic & James Hatzimoisis

Directors – Barry Plant Real Estate

St Albans, Taylors Lakes & Caroline Springs