There was more than a hint of confidence amongst bidders at many of our auctions today. A real sense that they wanted to get into the market ahead of the uplift in prices that many buyers are forecasting.

Today we saw a number of auctions which attracted 3, 4 and 5 bidders and the ensuing competition left reserve prices clearly in the rear-view mirror. Small units being purchased as a first home through to new home sites attracting “knock down / rebuild” buyers; there was solid competition across the board.

During the past few months, there was a feeling that buyers wanted a clear indication that rates were on their way down before making a move. Many can now see that these cuts may be only a few short months away. They want to get into a home before interest rates actually move because they know that once they do, the market will likely move quickly.

If you are preparing for a spring sale, the Barry Plant team are ready to help. We are already starting campaigns for September and even early October. We look forward to speaking with you.

See below our impressive sales activity for the week:

• 12 Arthur Streeton Place, Diamond Creek sold for $1,585,000.
• 1/20 Gladstone Road, Briar Hill sold for $1,525,000.
• 17A Beverley Crescent, Blackburn sold for $1,210,000.
• 3/11 June Crescent, Templestowe sold for $1,100,000.
• 51 Jacana Avenue, Templestowe Lower sold for $1,040,000.
• 8 Basingstoke Road, Mitcham sold for $1,020,000.
• 2/71 Gedye Street, Doncaster East sold for $855,000.
• 3/491 Whitehorse Road, Balwyn sold for $800,000.
• 6/15-17 Bass Street, Box Hill sold for $763,000.
• 9/1 Nartanda Court, Doncaster East sold for $745,000.
• 12/222 Williamsons Road, Doncaster sold for $740,000.
• 1/17 Mock Street, Forest Hill sold for $670,000.
• 6/36 Shelley Street, Heidelberg Heights sold for $622,000.
• 217/600 Doncaster Road, Doncaster sold for $590,000.
• 504/7 Red Hill Terrace, Doncaster East sold for $440,000.
• 2/6 Jacana Avenue, Templestowe Lower sold!
• 24 Carcoola Road, Ringwood East sold!
• 4/126 Mitcham Road, Donvale sold!
• 317/3 Mitchell Street, Doncaster East sold!
• 8/10 Bosisto Street, Richmond sold!

Currently under offer and will be sold soon:

• 7/23 Carawatha Road, Doncaster
• 106/164 Manningham Road, Bulleen
• 1/352 Springvale Road, Donvale
• 317/3 Mitchell Street, Doncaster East
• 33 Wood Street, Templestowe
• 8 Yarra Brae Close, Wonga Park
• 31 Fitzjohns Drive, Bundoora
• 2/5 Ambon Court, Heidelberg Heights
• 13 Dalveen Road, Ivanhoe

Spiro Drossos

Managing Director

Barry Plant Eastern Group