Market imbalance is great news for sellers

There is no doubt that the continuing shortage of available property for sale is making quite an impact of the property market in the City of Brimbank, but the pluses and minuses of that impact will depend on whether you are buying, selling or both.

If you’re a buyer, you don’t need us to tell you that the competition for the limited number of available properties is pushing prices higher. We saw several examples of this during the past week. Of course, if you’re a seller in the current market, this is great news, whilst for those who are buying and selling in the same market, it’s more of a case of ‘swings and roundabouts.’ The value of experienced strategic advice when tackling the market has never been higher.

Among the more notable recent results were:

Caroline Springs: 6 Counihan Avenue

This impeccably presented single-level three-bedroom home drew a big crowd to watch a competitive bidding duel that exceeded all expectations. The eventual sale price of a remarkable $672,000 certainly got a few of the neighbours talking!

Hillside: 10 Sovereign Way

Making the most of an impressive frontage to one of Hillside’s premier tree-lined streets, this palatial family home made an immediate first impression which carried through to a grand marble staircase, airy high ceilings and quality appointments throughout. A substantial sale was completed on this one during the week.

Keilor Downs: 4 Oncidium Gardens

Situated in a quiet cul-de-sac facing parkland and within walking distance of Monmia Primary School and local shops, this neat 2-bedroom villa appealed to market entrants and local downsizers. A strong mid-week sale was inked at $428,000.

St Albans: 54 Shirley Street

Potential seemed to be the word on most buyers’ lips as a good crowd gathered for this week’s auction of this three-bedroom home on around 590sqm of land zoned for St Albans Secondary College. Opinions seemed divided on whether renovation or rebuilding held the biggest upside, however there was no argument that the possibilities were huge, resulting in an excellent sale at $555,000.

St Albans: 60 Clarke Avenue

Combining a modern two-bedroom floorplan and a low maintenance lifestyle, this clean-cut townhouse was conveniently positioned minutes from Alfrieda Street shops and the Secondary College. Competitive negotiations saw the SOLD sign go up at a strong $480,000.

Taylors Hill: 11 Keiwa Place

There was a positive buyer response from the moment this grand double-storey home located just around the corner from Gilson College hit the market. Offering four bedrooms and three bathrooms, it had extra appeal for families looking to accommodate extended family, resulting in a pleasing auction sale at $740,000.

As we mentioned above, if you are planning on taking advantage of the current market imbalance by selling in March, make sure you get the right advice before you start. Our team at Barry Plant St Albans are always happy to assist, so give us a call on 9367 7044.

Cheers,

John Aaron Nakic & James Hatzimoisis

Directors – Barry Plant Real Estate

St Albans, Taylors Lakes & Caroline Springs