Well, it seems like spring has come early with a definite lift in the number of available properties for sale. Last week saw a 24% rise in the number of properties auctioned in Melbourne versus the same weekend last year. Traditionally, we have had to wait until the footy finals are over in late September before we see the emergence of more listings but this year, we have noticed that shift very early. Vendors have picked up on the confidence in the market and rising prices and are choosing to come to market early to avoid the rush. Many are hoping to sell in Early spring and plan to take full advantage of the extra choice available as buyers later in the year. Of course, being a cashed-up buyer in a market with more to offer is the perfect scenario for buyers trading up or scaling down.

And what about prices you ask?

Well, it's probably too early to make a definitive call but we are certainly noticing that clearance rates continue to sit between 70-80% across Melbourne and are even stronger when you focus in on the Eastern suburbs. The Barry Plant Eastern group had a 100% clearance last week and as I write this blog on Saturday afternoon, I can report that most of our auctions have sold today with some reporting prices of $200k and even $250k above expectation.

So, although selling right now may not be the answer for everyone, there are certainly many reasons to consider doing so if you have been looking to make a move. Our team is always happy to walk you through your options, whether that be to act now or perhaps wait, depending on the circumstances. Some are also looking to buy and rent their current home to take advantage of rising rents. This can be particularly advantageous if there is still a considerable mortgage on the property, allowing you to offset income through negative gearing. As always, it's best to get expert financial advice if you’re weighing up these options.

If we can be of service by offering you an expert opinion on the value of your property or discussing your selling strategy options, we’d love to help. After all, that’s what we do! We’re just people helping people navigate their way through the fascinating world of real estate.

Please see below our impressive sales for the week!

• 20 Prunella Close, Doncaster sold for $1,900,000
• 6 Drysdale Place, Doncaster East sold for $1,815,000
• 15A Sunhill Road, Templestowe Lower sold for $1,708,000
• 52 Helene Street, Bulleen sold for $1,650,000
• 17 Gympie Street, Bulleen sold for $1,401,000
• 12 Thomson Drive, Rosanna sold for $1,315,000
• 7 Burnett Street, Mitcham sold for $1,280,000
• 128 Highfield Road, Camberwell sold for $1,280,000
• 3/12 Parkville Place, Donvale sold for $1,218,000
• 34 Taylor Road, Hurstbridge sold for $990,000
• 67D Brushy Park Road, Wonga Park sold for $975,000
• 24 Montalbo Road, Ringwood North sold for $960,000
• 64 Beard Street, Eltham sold for $885,000
• 1/34 Marchiori Road, Blackburn North sold for $811,000
• 3/5 Harrow Court, Doncaster sold for $795,000
• 1/29 Barkly Street, Box Hill sold for $740,000
• 5/6-8 The Greenway, Heathmont sold for $665,000
• 13-15 Anzac Road, Warrandyte South sold!

Currently under offer and will be sold soon:

• 18 Calrossie Avenue, Montmorency
• 4/16 Green Street, Ivanhoe
• 1 Eric Avenue, Templestowe Lower
• 11/53 John Street, Templestowe Lower
• 301/177 Blackburn Road, Doncaster East
• 3/2A Montrose Place, Hawthorn
• 57 Greenhill Road, Greensborough
• 34 Barak Street, Bulleen
• 15 Gaffney Street, Coburg
• 10 One Tree Hill, Donvale
• 540 Springvale Road, Forest Hill
• G23/210 Reynolds Road, Doncaster East
• 39 Gedye Street, Doncaster East
• 32 Launders Avenue, Wonga Park
• 3/98-100 Carrington Road, Box Hill
• 7/36 Mitchell Street, Doncaster East
• 37 Culwell Avenue, Mitcham
• 2/314A Reynolds Road, Donvale
• 79 Jolimont Road, Forest Hill
• 1/136 Parker Street, Templestowe
• 1/22 River Street, Briar Hill

Spiro Drossos

Managing Director

Barry Plant Eastern Group