Home > Uncategorized > Market Update | 25 & 26 September 2021

Market Update | 25 & 26 September 2021

๐–๐ข๐ญ๐ก ๐ญ๐ก๐ž ๐†๐ซ๐š๐ง๐ ๐…๐ข๐ง๐š๐ฅ ๐ข๐ง ๐๐ž๐ซ๐ญ๐ก, ๐ข๐ญ ๐ฐ๐š๐ฌ ๐ฎ๐ง๐ฎ๐ฌ๐ฎ๐š๐ฅ๐ฅ๐ฒ ๐›๐ฎ๐ฌ๐ฒ ๐Ÿ๐จ๐ซ ๐ญ๐ก๐ž ๐ฅ๐š๐ฌ๐ญ ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐ฐ๐ž๐ž๐ค๐ž๐ง๐ ๐ข๐ง ๐’๐ž๐ฉ๐ญ๐ž๐ฆ๐›๐ž๐ซ. ๐–๐ข๐ญ๐ก ๐ค๐ข๐œ๐ค-๐จ๐Ÿ๐Ÿ ๐š๐ญ ๐Ÿ•:๐Ÿ๐Ÿ“๐ฉ๐ฆ ๐–๐€ ๐ญ๐ข๐ฆ๐ž, ๐ญ๐ก๐ž๐ซ๐ž ๐ฐ๐š๐ฌ ๐ฉ๐ฅ๐ž๐ง๐ญ๐ฒ ๐จ๐Ÿ ๐จ๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ฒ ๐Ÿ๐จ๐ซ ๐š๐ ๐ž๐ง๐ญ๐ฌ ๐ญ๐จ ๐ซ๐ฎ๐ง ๐ฉ๐ซ๐ข๐ฏ๐š๐ญ๐ž ๐ข๐ง๐ฌ๐ฉ๐ž๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐š๐ง๐ ๐œ๐š๐ฅ๐ฅ ๐š๐ฎ๐œ๐ญ๐ข๐จ๐ง๐ฌ ๐จ๐ง๐ฅ๐ข๐ง๐ž.


Boasting an inspirational renovation, the iconic Glenvill home at 13 Silverene Court in Vermont South drew a lot of interest throughout the campaign, despite the impact of an extended lockdown. Offering a superb lifestyle amongst well-kept, landscaped gardens, six bidders competed to secure the home during the online auction. Auctioneer Jeremy Desmier knocked the property down to the successful bidder at $1,723,000.


On Sunday afternoon, Director Ben Williams conducted a relaxed online auction to determine who would be the new owner of the three-bedroom family home at 33 Thornhill Drive in Forest Hill. A total of five bidders participated, until just two determined bidders traded bids until the successful purchaser placed the winning bid!


My team and I sold the near-new, masterfully designed home at 16 Peter Street in Box Hill North prior to its scheduled online auction, for $1,670,000. Recently constructed by the owner, the four-bedroom home offers glamorous interiors, deluxe Neff kitchen and sophisticated lounge/dining out to an undercover alfresco.


As we settle into the Spring selling period, it is clear that whilst it may look a little different, buyer demand remains high. The REA Group reports that prices increased rapidly during the pandemic, with data showing a 20.7% increase in national property prices over the 12 months to August.


The reduction in stock levels due to the extended lockdown has had an impact, creating a high level of pent-up demand. With the easing of restrictions to allow for private inspections and for photography and marketing to be completed, this should help to provide buyers with a greater level of choice and reduce some of the competition for individual properties.


Record low borrowing rates have also been a major driver of the increase in property prices, with the Reserve Bank of Australia holding official interest rates at the record low of 0.1% at its monthly meeting.

REA Director of Economic Research, Cameron Kusher commented, โ€œ๐˜ต๐˜ฉ๐˜ฆ ๐˜ข๐˜ฏ๐˜ค๐˜ฉ๐˜ฐ๐˜ณ๐˜ช๐˜ฏ๐˜จ ๐˜ฐ๐˜ง ๐˜ญ๐˜ฐ๐˜ธ ๐˜ช๐˜ฏ๐˜ต๐˜ฆ๐˜ณ๐˜ฆ๐˜ด๐˜ต ๐˜ณ๐˜ข๐˜ต๐˜ฆ๐˜ด ๐˜ช๐˜ด ๐˜ข ๐˜ฃ๐˜ช๐˜จ ๐˜ฅ๐˜ณ๐˜ช๐˜ท๐˜ฆ๐˜ณ ๐˜ฐ๐˜ง ๐˜ฑ๐˜ณ๐˜ช๐˜ค๐˜ฆ ๐˜จ๐˜ณ๐˜ฐ๐˜ธ๐˜ต๐˜ฉ ๐˜ฃ๐˜ถ๐˜ต ๐˜ต๐˜ฉ๐˜ฆ๐˜ณ๐˜ฆ ๐˜ข๐˜ณ๐˜ฆ ๐˜ฐ๐˜ต๐˜ฉ๐˜ฆ๐˜ณ ๐˜ง๐˜ข๐˜ค๐˜ต๐˜ฐ๐˜ณ๐˜ด ๐˜ด๐˜ถ๐˜ค๐˜ฉ ๐˜ข๐˜ด ๐˜ข๐˜ฏ ๐˜ฐ๐˜ฏ๐˜จ๐˜ฐ๐˜ช๐˜ฏ๐˜จ ๐˜ด๐˜ช๐˜จ๐˜ฏ๐˜ช๐˜ง๐˜ช๐˜ค๐˜ข๐˜ฏ๐˜ต ๐˜ฅ๐˜ช๐˜ด๐˜ค๐˜ฐ๐˜ฏ๐˜ฏ๐˜ฆ๐˜ค๐˜ต ๐˜ฃ๐˜ฆ๐˜ต๐˜ธ๐˜ฆ๐˜ฆ๐˜ฏ ๐˜ฅ๐˜ฆ๐˜ฎ๐˜ข๐˜ฏ๐˜ฅ ๐˜ง๐˜ฐ๐˜ณ ๐˜ฑ๐˜ณ๐˜ฐ๐˜ฑ๐˜ฆ๐˜ณ๐˜ต๐˜ช๐˜ฆ๐˜ด ๐˜ข๐˜ฏ๐˜ฅ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ด๐˜ถ๐˜ฑ๐˜ฑ๐˜ญ๐˜บ ๐˜ฐ๐˜ง ๐˜ฑ๐˜ณ๐˜ฐ๐˜ฑ๐˜ฆ๐˜ณ๐˜ต๐˜ช๐˜ฆ๐˜ด ๐˜ง๐˜ฐ๐˜ณ ๐˜ด๐˜ข๐˜ญ๐˜ฆ, ๐˜ฐ๐˜ฏ๐˜จ๐˜ฐ๐˜ช๐˜ฏ๐˜จ ๐˜ณ๐˜ฆ๐˜ด๐˜ต๐˜ณ๐˜ช๐˜ค๐˜ต๐˜ช๐˜ฐ๐˜ฏ๐˜ด ๐˜ฐ๐˜ฏ ๐˜ฉ๐˜ฐ๐˜ธ ๐˜ฑ๐˜ฆ๐˜ฐ๐˜ฑ๐˜ญ๐˜ฆ ๐˜ค๐˜ข๐˜ฏ ๐˜ด๐˜ฑ๐˜ฆ๐˜ฏ๐˜ฅ ๐˜ต๐˜ฉ๐˜ฆ๐˜ช๐˜ณ ๐˜ฎ๐˜ฐ๐˜ฏ๐˜ฆ๐˜บ ๐˜ข๐˜ฏ๐˜ฅ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ง๐˜ข๐˜ค๐˜ต ๐˜ต๐˜ฉ๐˜ข๐˜ต ๐˜ฑ๐˜ฆ๐˜ฐ๐˜ฑ๐˜ญ๐˜ฆ ๐˜ข๐˜ณ๐˜ฆ ๐˜ญ๐˜ฐ๐˜ฐ๐˜ฌ๐˜ช๐˜ฏ๐˜จ ๐˜ต๐˜ฐ ๐˜ถ๐˜ฑ๐˜จ๐˜ณ๐˜ข๐˜ฅ๐˜ฆ ๐˜ต๐˜ฉ๐˜ฆ๐˜ช๐˜ณ ๐˜ฉ๐˜ฐ๐˜ฎ๐˜ฆ๐˜ด ๐˜ฃ๐˜ฆ๐˜ค๐˜ข๐˜ถ๐˜ด๐˜ฆ ๐˜ต๐˜ฉ๐˜ฆ๐˜บ ๐˜ด๐˜ฑ๐˜ฆ๐˜ฏ๐˜ฅ ๐˜ด๐˜ฐ ๐˜ฎ๐˜ถ๐˜ค๐˜ฉ ๐˜ต๐˜ช๐˜ฎ๐˜ฆ ๐˜ต๐˜ฉ๐˜ฆ๐˜ณ๐˜ฆโ€.


Congratulations to all the Dees fans, what a game over the weekend! Stay safe and be well.


๐’๐ฎ๐œ๐œ๐ž๐ฌ๐ฌ. ๐ˆ๐ญโ€™๐ฌ ๐š ๐…๐ฅ๐ž๐ญ๐œ๐ก๐ž๐ซ๐ฌ ๐ญ๐ก๐ข๐ง๐ .

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