Summer powers on like a Spring market.
Over December’s first two weekends the Real Estate Industry of Victoria (REIV) recorded more than 1,546 auctions. 860 properties were sold at auction, with 280 passed in and 108 of those on a vendor bid. 256 properites sold before auction whilst 2 properties sold after auction. The auction clearance rate averaged 78.5%.
As confidence grows, listings are surging. Because this year instead of closing down for Summer, we’ve opened up!
Melbourne’s summer market is looking more like Spring, with plenty of homes aiming for midsummer sales. Private treaty sales are booming too, many negotiated prior to auction, with homes across metro Melbourne selling fast – in an average of just 25 days.
A great buy in Brunswick
Buyer Marketing has been negotiating some terrific acquisitions. 50a Thistle Street Brunswick, one of a pair a north facing, beautifully designed townhouses in a leafy part of Brunswick, was successfully purchased by Buyer Marketing prior to auction, for $1,365,000. The clients had been looking at a townhouse in Thornbury (with an inferior level of fit out) which sold later for $1,450,000. The clients are over the moon with their Brunswick outcome.
A sensational buy in Pascoe Vale
Another successful purchase was achieved at 3/16 Lake Avenue, Pascoe Vale, before auction for $620,000, one of four well designed older townhouses in a quiet location around the corner from vibrant cafes, shops, and public transport.
The client had been looking for several months and as an investor thought only to buy a two bedroom apartment in the St. Kilda area, but had never thought of buying in rapidly growing (in popularity) Pascoe Vale on the north side of inner Melbourne which has excellent capital growth prospects. The client was time-poor having to concentrate on their own work, and very happy with the job well done by Buyer Marketing!
We wish all our friends and their families a very happy and healthy Christmas and a great free New Year. Just how it should be!
Principal Advisor &
Licensed Estate Agent
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