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Market rebound now complete

It was interesting to see the latest figures from Corelogic this week which confirmed what many of us had already suspected.

It was reported this week that house and unit values had regained all of the ground that was lost during the Covid-19 lockdown, and had now gone past their previous peak which was recorded in April last year. Tim Lawless, the Research Director at Corelogic, has been quoted as saying that “Following a decline of 6.1 per cent through COVID-19, values have since grown by 6.7 per cent.”

Another key indicator comes from the latest buyer tracking data from realestate.com.au. Their figures show that buyer activity levels on their website are currently 72.8 per cent higher than they were at this time last year, when the previous price record was recorded. It’s certainly good news for anyone planning on selling a property this Autumn!

Our team at Barry Plant Thomastown are certainly aware of just how strong the buyer activity levels are right now, as we are experiencing first-hand examples of it every day. One recent example involved the mid-week sale of a three-bedroom unit in Vasey Avenue, Lalor (pictured).

This appealing property generated enquiries from a range of different buyers, from market entrants trying to get their foot in the door in a competitive market and investors looking for long-term financial security to local residents keen to down-size from the family nest.

In the end a happy young couple who emerged victorious, but there was serious competition between five different buyers before the deal was finally agreed and the SOLD sign went up. Judging by the smiles on their faces in the photo, these buyers will be enjoying a particularly memorable Easter this year having secured their first home for $530,000.

Don’t forget that if you’ve taken the time this Easter to reassess your plans for 2021 and are considering making a move in the current strong market conditions, our team is always happy to provide you with an obligation-free market appraisal to ensure you are not making plans with outdated numbers. If we can be of any assistance at all, don’t hesitate to give us a buzz this week on 9466 3233.

In the meantime, I hope you have a safe and relaxing Easter break.

Best wishes,

Con Constantinou

Barry Plant Thomastown