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Market continues to be defined by competition

It’s one thing to read the market statistics about the strength of buyer demand in Melbourne’s property market right now. However, there’s no demonstration more effective than being part of a large crowd of onlookers as multiple bidders compete at auction, pushing prices well above all expectations.

We saw several more examples of this trend this week, including one auction that took 37 minutes as five determined bidders placed more than 90 bids before the gavel fell! Here’s a brief outline of what’s been happening recently:

Caroline Springs: 24/79 Lancefield Drive. This tri-level townhouse offered a low maintenance lifestyle with three schools within an easy stroll. Competitive early interest saw this one sold prior to auction in the high $400,000’s.

Hillside: 8 King Drive. Another strong result on a tri-level, three-bedroom townhouse. This time an auction in the Stonybrook Estate saw the bidding soar to $570,000.

Hillside: 13 Luscander Court. A quick and effective off-market campaign saw the keys to this four-bedroom home in the Banchory Grove Estate change hands before the photographer even had a chance to unpack his tripod!

Kealba: 25 Bundeena Avenue. A prime corner location with the Maribyrnong Valley Parklands at the end of the street added to the appeal of this charming three-bedroom home. Productive mid-week negotiations saw the SOLD sign go up at a very pleasing $730,000.

St Albans: 3 Cordelia Grove. Beautifully maintained gardens and a backyard made for energetic kids made this three-bedroom home near Delahey Shopping Village a must-see for young families. The contracts were inked this week at $605,000.

St Albans: 4 Bent Street. A sizeable block of around 724sqm had several builders and developers paying close attention to this three-bedroom home, with the SOLD sign going up during the week at $750,000.

Taylors Lakes: 4 Goulburn Way. Set on a generous 876sqm block within minutes of Watergardens Town Centre and Overnewton College, this double-storey four-bedroom home attracted plenty of interest from local families keen to upgrade. As we mentioned earlier, a competitive bidding duel between five bidders produced a total of 93 bids before the gavel fell at a remarkable $995,500!

Is now the time for you to make a move?

If you are one of the many property owners in the City of Brimbank who are looking at making a move while selling conditions are so favourable, our team at Barry Plant St Albans are ready and able to provide you with obligation-free advice and assistance. Why not give us a call this week on 9367 7044?

Cheers,

John Aaron Nakic & James Hatzimoisis

Directors – Barry Plant Real Estate

St Albans, Taylors Lakes & Caroline Springs