Tim Heavyside

𝑽𝒊𝒄𝒕𝒐𝒓𝒊𝒂𝒏𝒔 𝒘𝒆𝒓𝒆 𝒑𝒍𝒖𝒏𝒈𝒆𝒅 𝒊𝒏𝒕𝒐 𝒂𝒍𝒍-𝒕𝒐𝒐 𝒇𝒂𝒎𝒊𝒍𝒊𝒂𝒓 𝒕𝒆𝒓𝒓𝒊𝒕𝒐𝒓𝒚 𝒍𝒂𝒔𝒕 𝒘𝒆𝒆𝒌, 𝒘𝒊𝒕𝒉 𝒕𝒉𝒆 𝒈𝒐𝒗𝒆𝒓𝒏𝒎𝒆𝒏𝒕 𝒂𝒏𝒏𝒐𝒖𝒏𝒄𝒊𝒏𝒈 𝒕𝒉𝒆 𝒔𝒊𝒙𝒕𝒉 𝒔𝒕𝒂𝒕𝒆-𝒘𝒊𝒅𝒆 𝒍𝒐𝒄𝒌𝒅𝒐𝒘𝒏 – 𝒔𝒍𝒂𝒕𝒆𝒅 𝒇𝒐𝒓 𝒔𝒆𝒗𝒆𝒏 𝒅𝒂𝒚𝒔, 𝒉𝒐𝒘𝒆𝒗𝒆𝒓 𝒕𝒉𝒆𝒓𝒆 𝒊𝒔 𝒔𝒑𝒆𝒄𝒖𝒍𝒂𝒕𝒊𝒐𝒏 𝒕𝒉𝒂𝒕 𝒊𝒕 𝒘𝒊𝒍𝒍 𝒆𝒙𝒕𝒆𝒏𝒅 𝒇𝒖𝒓𝒕𝒉𝒆𝒓.

Once again, sellers, buyers and agents swiftly adapted to the circumstances, with several auctions scheduled for the weekend moving online. It may have been the online format or the number of bidders (9!), but whatever the cause, our auction of 28 Stanley Grove in Canterbury went for over an hour and a half! The original clinker brick home was being offered for sale for the first time in 49 years, located in one of Canterbury’s most beautiful groves. The successful bidder fashioned her own paddle for the occasion!

The stunning, builder’s-own home at 10 Woburn Street in Heidelberg also sold under the hammer via online auction. Attracting six bidders, the luxurious home enjoys a premier Heidelberg Hill position and is also central to schools, transport and lifestyle options.

Domain research has reported this week that Melbourne’s unit prices are set to blow out further this year, as young buyers abandon their dreams of a house and turn to apartments instead. Melbourne’s median house price soared past $1 million in the June 2021 quarter, defying the pandemic and setting a new record. Units also hit a record price, rising to a median of $572,793.

While the cost of a unit sits at nearly half that of a house, experts say affordability issues will force many in the market, particularly first-home buyers, to purchase apartments rather than houses, which will then drive unit prices higher again. Domain chief of research and economics Nicola Powell said the higher house prices climbed, the more demand would flow into units.

“𝘚𝘰𝘮𝘦 𝘱𝘦𝘰𝘱𝘭𝘦 𝘢𝘳𝘦 𝘧𝘰𝘳𝘤𝘦𝘥 𝘵𝘰 𝘣𝘶𝘺 𝘢 𝘶𝘯𝘪𝘵 𝘪𝘯 𝘵𝘩𝘦𝘪𝘳 𝘥𝘦𝘴𝘪𝘨𝘯𝘢𝘵𝘦𝘥 𝘴𝘶𝘣𝘶𝘳𝘣𝘴,” Dr. Powell said. “𝘐𝘵’𝘴 𝘢𝘣𝘰𝘶𝘵 𝘵𝘩𝘦𝘮 𝘨𝘦𝘵𝘵𝘪𝘯𝘨 𝘵𝘩𝘢𝘵 𝘧𝘪𝘳𝘴𝘵 𝘳𝘶𝘯𝘨 𝘰𝘯 𝘵𝘩𝘦 𝘭𝘢𝘥𝘥𝘦𝘳 𝘢𝘯𝘥 𝘪𝘵 𝘩𝘢𝘴 𝘵𝘰 𝘣𝘦 𝘢 𝘶𝘯𝘪𝘵 𝘣𝘦𝘤𝘢𝘶𝘴𝘦 𝘩𝘰𝘶𝘴𝘦 𝘱𝘳𝘪𝘤𝘦𝘴 𝘢𝘳𝘦 𝘴𝘰 𝘩𝘪𝘨𝘩”.

We will all keenly wait to hear the news on easing of the latest restrictions. Until then, stay safe!

𝑺𝒖𝒄𝒄𝒆𝒔𝒔. 𝑰𝒕’𝒔 𝒂 𝑭𝒍𝒆𝒕𝒄𝒉𝒆𝒓𝒔 𝒕𝒉𝒊𝒏𝒈.