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Timeless competition continues in the north

Real estate & property news
11 May 2024
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Having written several of these Updates recently that took a closer look at the first home buyer market and the changes we’ve seen in this market sector in recent times, I thought it was interesting that there is at least one aspect of this end of the market that hasn’t changed a bit.

That is the ongoing battle that takes place between first home buyers and investors to secure the same properties.

Here at Barry Plant Thomastown we are reminded of this competitive scenario on a weekly basis, and you’ve only got to look at a couple of our recent sales to see how this works.

Our recent sale of a three-bedroom home at 39 William Street, Lalor (pictured) attracted good interest from both market entrants and investors, with its appealing location close to Lalor Secondary College, the trains and Lorne Park playing a role. In the end, a young couple emerged victorious and are looking forward to making their home there after securing the property for $576,500.

A similar level of convenience was also part of the appeal of a three-bedroom brick home at 352 Edgars Road in Lalor. Offered for sale for the first time by the same family that had built the home, this potential-packed home had the added bonus of a double garage that had been converted for use as a studio, and a rear gate that opened directly onto parkland.

The contrast with the previous sale is that in this case the eventual winner of the keys is a young gent who plans to rent the property out in the future as part of a long-term investment strategy.

Results like these are certainly a key part of the property market in Melbourne’s northern corridor, and we can’t see this changing in the foreseeable future.

The common factor between both sets of buyers is the importance of obtaining experienced advice in sourcing the right property, whether you plan to live in it or rent it out. So if you need any guidance at all, why not give our team at Barry Plant Thomastown a call this week on 466 3233.

We’re here to help.


Con Constantinou

Barry Plant Thomastown

Real estate & property news
11 May 2024
Save Article

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