Eight bidders confirm current demand

In fact, when we sat down during the week to discuss the upcoming auction, our sales team was fairly confident that we would have as many as twelve separate buyers attending on Saturday, ready to compete. So we were confident of a pleasing result for our vendors.

However, it’s fair to say there were more than a few surprised faces in the crowd as the bidding got up and going.

So, what was the attraction? Well, this three-bedroom home with two bathrooms certainly had appeal as a family home, and the location in the heart of Epping was a bonus with shopping options, trains, quality schools and parkland all close by. But, at the end of the day, this simple fact is that the ongoing shortage of quality new listings in our area, along with the increased number of active buyers searching for a home, has produced a decidedly competitive market…and that’s what we saw this week.

In the end, at least eight of the interested buyers got to raise their hands, (with several others missing out completely), making a total of 43 bids. We even saw a couple of the bidders flying in from Sydney for the event! This level of competition will always bring exciting results for a vendor, but few expected the buyers to push the price all the way to a remarkable $877,000 which was more than $120,000 above the vendor’s reserve! So it was smiles all round from both buyer and seller when the gavel finally fell.

As we’ve mentioned in SEVERAL RECENT POSTS, the current conditions in our local property market are providing sellers with very favourable results in many cases. So if you are interested in finding out what your own property could produce at the moment, why not give us a call at Barry Plant Thomastown this week on 9466 3233.

We’d be more than happy to assist.

Cheers,

Con Constantinou

Barry Plant Thomastown