However, this news would also have impacted on quite a few of the first home buyers who have been active in the local market, knowing that there are likely to be even competitive bidders competing for the limited number of available properties once these new measures come into effect.

At a local level, the property market is continuing to demonstrate the strong demand we have been reporting in recent months, particularly from market entrants and investors, with our team at Barry Plant Thomastown achieving another 100 per cent auction success rate this week.

The sale this week that perhaps best illustrates the strength of demand from first timers involved a neat two-bedroom unit in Gardenia Road, Lalor (pictured).

Having been tastefully updated, and offering a private rear yard and covered deck that is not commonly seen in many units nowadays, this low maintenance home made a real impact of all those first home buyers and investors who inspected it during the campaign.

In the end, we saw four bidders competing at this week’s auction, with several others who didn’t get a chance to raise their hands. The eventual sale price exceeded our happy vendor’s reserve, whilst the successful buyer was excited to have got his foot in the door of the property world.

The important thing to keep in mind is that no matter what price range you believe your property falls into, the chances are that you might be surprised at how much more you could achieve in the current market conditions. So, if you’d like an obligation-free update on your property’s potential, feel free to give us a call at Barry Plant Thomastown this week on 9466 3233.

Regards,

Con Constantinou

Barry Plant Thomastown