After two cuts to official interest rates by the Reserve Bank so far this year, and the likelihood that we will see more before the year is out, buyer confidence is high. Not only are we seeing first and next home buyers stepping up their activity, but there has also been a noticeable increase in activity from property investors in our part of town. So competition between buyers is clearly on the up.

We saw a prime example of this in our final auction for Autumn, an attractive three-bedroom home at 22 Murchison Way in Thomastown. Part of the highly regarded Parklands Estate, this appealing double-storey home with two bathrooms drew strong inquiry levels from a variety of buyers keen to make the most of this popular location.

The auction, conducted in the autumn sunshine, attracted over 60 viewers who watched five separate bidders compete for the keys. This level of determined competition produced an outstanding sale, with the gavel falling above our happy vendor’s reserve at $770,000!

As you can see from the photo, the buyers, vendors and supporting family members all enjoyed the result!

The key for anyone considering selling in the near future is that results like this one leave four other motivated homebuyers disappointed and keen to find another option as soon as possible. So if you are weighing up your options, and interested in exploring the possibilities that the current strong market conditions could provide you with, why not give us a call this week at Barry Plant Thomastown. You’ll get us on 9466 3233.

Best wishes,

Con Constantinou

Barry Plant Thomastown