Enjoying the long weekend pause
Whilst our team at Barry Plant Moonee Valley has been active as usual this week, this long weekend has undoubtedly given quite a few Melbourne residents an opportunity to not only get away for a short break, but also a chance to put your feet up and think about the year to date and what it has meant to your plans for the future.
The fact is, despite the ongoing concerns about the interest rates on our home loans and the overall cost of living, there has been clear signs of a growing level of confidence in the property market in 2024.
This perception of market confidence was confirmed by the recent release of Corelogic’s latest Home Value Index which was released to the public at the start of March.
This monthly analysis of the Australian property market reported that our housing values had recorded a broad based rise of 0.6 per cent in February. This followed on the heels of 0.4 per cent growth in January. It’s worth noting that February’s growth rate was the strongest monthly gain since October 2023, which is a telling statistic given that interest rates are still a key talking point among home buyers and owners.
This underlying confidence is continuing to drive some very satisfying sales results from our team, including these recent examples:
Ascot Vale: 2/90-92 Roseberry Street. This older style two-bedroom ground floor flat drew good inquiry levels from market entrants, investors and downsizers, with the SOLD sign going up before offers were due to close on a Sale by Set Date® campaign.
Keilor East: 25 Riverside Place. This charming three-bedroom single-level home was one of several to reap the benefits of productive post-auction negotiations, with the contracts being inked later on auction day at $759,000.
Moonee Ponds: 3/39 Ormond Road. A total transformation of this two-storey, three-bedroom townhouse added to the appeal of its sought-after location, with a Sale by Set Date® strategy producing a pleasing sale more than week before offers were due to close.
Niddrie: 3A Shaw Street. With a clear emphasis on modern, easy-care living, this luxurious four-bedroom, three-bathroom double-storey home (pictured) with a pool achieved a strong sale at $1.65 million after productive post-auction negotiations.
With the next few weeks as we head towards Easter looking like being a very active time in the local property market, the door is open for local homeowners to move ahead with their property plans with confidence. So if you would like some experienced and objective guidance on how to maximise your result in the current market, feel free to give us a call this week at Barry Plant Moonee Valley on 9319 1700.
In the meantime, enjoy your long weekend.
Best wishes,
Bill Karp
Director – Barry Plant Real Estate
Keilor East, Essendon & Gladstone Park