A sense of anticipation has gripped buyers and sellers like across the Barry Plants Eastern Group’s key operating municipalities of Manningham, Whitehorse, Nillumbik and Banyule. Many are asking; “So when is the market going to move?”

Well, the answer is simple; “It already has!”

House prices in Melbourne began to rise after our first interest rate drop back in February and haven’t stopped since. Every month the market has lifted including a rise of 0.5% in June. That equates to a 2.9% rise in Melbourne house prices in just 5 months. And there are many who are forecasting further growth as the borrowing landscape points to a number of ongoing RBA cuts including at the July announcement on Tuesday next week.

Investors and developers have long been recognised as the litmus test of the strength of a market and they are back in force bidding and buying property in anticipation of a further rise. A clear indication of where the smart money sees the market tracking.

At Barry Plant, our agents are intensively trained to deal in all market conditions but there is something special about navigating a market which is on the rise. The key is to keep your feet on the ground but to have your eyes on the sky. We have already seen several sales in the past 2 weeks which have absolutely defied logic. They have left any comparable property evidence well in their wake.

An air of urgency has dawned on many buyers who are now feeling an urge to get into the market and they are competing hard for the relatively low amount of properties for sale.

The advice for sellers? If you are ready to move, now could very well be the ideal time to strike. With anticipation of rising stock levels coming into spring, a very favourable window of opportunity is in front of us right now.

If you need some guidance and you’re ready to talk property, we are very ready to listen. Call us now and let’s work through the best way to help you on your way.

See below for this week’s impressive sales results:

• 1 Serenity Court, Vermont South sold for $1,785,000
• 9 Olympiad Crescent, Box Hill North sold for $1,618,000
• 3 Serenity Court, Vermont South sold for $1,585,000
• 14 Serenity Court, Vermont South sold for $1,520,000
• 11 Viscount Drive, Doncaster sold for $1,510,000
• 29 Jackson Street, Forest Hill sold for $1,500,000
• 13 Delmuir Close, Eltham sold for $1,470,000
• 14 Hillview Parade, Lower Templestowe sold for $1,333,300
• 4 Ireland Street, Ringwood sold for $1,303,000
• 31 Barry Street, Reservoir sold for $1,280,000
• 25 Griffiths Street, Bellfield sold for $1,020,000
• 216 Mountain View Road, Briar Hill sold for $880,000
• 2/11 Doncaster East Road, Mitcham sold for $700,000
• 5/515 Mitcham Road, Vermont sold for $555,000
• 2/24 Harrison Street, Mitcham sold for $550,000
• 1/18 Zig Zag, Eltham sold for $410,000
• 506A/1 Colombo Street, Mitcham sold for $290,000
• 102 Pleasant Road, Templestowe Lower sold!
• 65 Beverley Street, Doncaster sold!
• 5 Serenity Court, Vermont South sold!
• 2/380 Elgar Road, Box Hill sold!
• 10 Ashworth Avenue, Wattle Glen sold!
• 38 Maroong Drive, Research sold!
• 7 Tower Drive, Briar Hill sold!

Currently under offer and will be sold soon:

• 23-25 Meander Road, Hurstbridge
• 49 McGlynn Avenue, South Morang
• 11 Angus Court, Eltham
• 2/11 Woodlands Rise, Macleod
• G03/342 Whitehorse Road, Balwyn
• 5 Mincha Avenue, Templestowe Lower
• 2/84 Wood Street, Templestowe
• 177-179 Jumping Creek Road, Wonga Park
• 1/17 Devon Drive, Doncaster East
• 320 Serpells Road, Doncaster East
• G03/342 Whitehorse Road, Balwyn
• 42 Clifton Street, Blackburn
• 2/15 Polar Street, Box Hill
• 18 Serenity Court, Vermont South
• 10 Tourello Street, Mitcham
• 6/11 Doncaster East Road, Mitcham
• 3 Kiandra Court, Doncaster East

Spiro Drossos

Managing Director, Barry Plant Eastern Group

Proudly servicing Manningham, Whitehorse, Eltham, Ivanhoe & Balwyn