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Imbalance in market driving big results

Real estate & property news
12 October 2019
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The strong enquiry levels we have been reporting recently are continuing and, with the much-reported shortage of available property continuing, we are seeing big numbers at Open Houses, multiple buyers making offers on many properties, and tightly contested auctions in most cases.

More importantly for anyone wanting to sell in the coming weeks, we expect this market imbalance in the north-west to continue to produce big results as we are still a long way off reaching the point where new listing numbers match the level of new buyer demand.

Our most recent results reflect this situation, including:

Albanvale: 4 Wintersun Drive

Located within walking distance of Brimbank Shopping Centre, this freshly updated three-bedroom home attracted a mix of investors and first home buyers. A pleasing mid-week sale was soon concluded at $520,000, with the successful buyer very pleased to have completed their search.

Fraser Rise: 33 Dawkins Avenue

Just three years young, this striking single-level executive residence attracted a big crowd who saw three very strong bidders compete for the keys. The eventual sale price of $811,000 set a new record for this Estate, producing smiles all round once the gavel fell.

Keilor Downs: 120 Copernicus Way

There was more than a touch of Spanish Mission influence in this grand five-bedroom home just down the street from Monmia Primary School. Highly productive private negotiations saw the SOLD sticker go up during the week.

Hillside: 6 O’Haire Street

This well maintained single-level four-bedroom home a short stroll from Parkwood Green Primary School was due to be auctioned next week. However, it attracted such strong interest in the first two weeks of the campaign that we moved the auction forward to this weekend. A big crowd turned out to watch five determined bidders push the price all the way to $608,500, which was well above our happy vendor’s expectations.

Hillside: 21 Pembury Way

The auction of this attractive four-bedroom home was actually postponed last week, but the team was still able to negotiate a great result on the day.

St Albans: 7 Washington Street

Located just a few doors from the waterside parks, this neat three-bedroom brick home on a generous 835sqm block enjoyed a good result after a quiet off-market sale was completed during the week.

Sydenham: 7 Albertine Crescent

The ever-popular Rose Hedge Estate was the scene for this hotly contested auction with four bidders driving the price well above the vendor’s reserve before reaching an impressive $625,000. As you can see from the photo, there was plenty of family support available on the day!

Sydenham: 13 Lily Drive

A mix of first home buyers and investors showed such immediate interest in this three-bedroom home near Watergardens that the vendors decided to accept a convincing early offer of $615,000 in the first week of the campaign rather than waiting for this week’s scheduled auction.

As we mentioned above, the door is still wide open for anyone wanting to achieve a positive sales result before the end of 2019, but the calendar is confirming that you won’t want to delay taking this step. So don’t hesitate to give us a call this week at Barry Plant Taylors Lakes on 9390 8333.

Cheers,

James Hatzimoisis & John Aaron Nakic

Directors – Barry Plant Real Estate

Taylors Lakes, St Albans & Caroline Springs

Real estate & property news
12 October 2019
Save Article

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