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Housing Stock Is Ready To Match Buyer Confidence

Category: Buying, Landlords, Selling

 

Following a strong finish to 2019, property owners have noted the buoyant market and are ready to sell after a long wait watching from the side-lines. We have a fantastic range of apartments, units, townhouses and homes coming on to the market in the first half of 2020. If you are thinking of selling this year, we encourage you to get in touch now to secure an auction date that will best suit your home, and get started on presenting your property to achieve maximum buyer enquiry.

Buyer confidence in Blackburn and neighbouring suburbs was exceptional in the final quarter of 2019, after a gradual warm-up through winter and spring. While the May federal election result encouraged buyers, APRA’s decision to relax home lending rules in July really opened the gates.

Our region dominated Melbourne’s top quarterly growth list for both houses and units. REIV results show Mitcham, Nunawading, Blackburn South and Blackburn North all recorded growth above 15 per cent for the December quarter and surpassed $1 million on their median house price.

First home buyers, investors and families all drove this upward trend. We also noticed the return of buyers turning up on the day, seeing the house for the first time and making an impulse decision. We had not experienced this buyer behaviour since the boom times of 2017.

In November, Woodards auctioned a three-bedroom villa unit at 1/13 Gardenia Street, Blackburn. The $1.425 million winning bid exceeded the reserve by more than $300,000 and set a new street record for villa units. We had numerous buyers registered to bid on this quality property, including several downsizers looking to move from Balwyn, Mont Albert and other prestige suburbs who saw the lifestyle and value on offer in Blackburn.

On the final weekend before Christmas, we sold a three-bedroom home in original condition at 24 Perth Street, Blackburn South for $1.355 million. Six bidders competed in front of a huge crowd, taking the sale price well above reserve.

We look forward to achieving more fantastic results for property owners in 2020. There’s never been a better time to sell in this area of Melbourne. Woodards Blackburn can assist you to market your property to attract enormous interest.