Market Update | 25 & 26 September 2021
๐๐ข๐ญ๐ก ๐ญ๐ก๐ ๐๐ซ๐๐ง๐ ๐ ๐ข๐ง๐๐ฅ ๐ข๐ง ๐๐๐ซ๐ญ๐ก, ๐ข๐ญ ๐ฐ๐๐ฌ ๐ฎ๐ง๐ฎ๐ฌ๐ฎ๐๐ฅ๐ฅ๐ฒ ๐๐ฎ๐ฌ๐ฒ ๐๐จ๐ซ ๐ญ๐ก๐ ๐ฅ๐๐ฌ๐ญ ๐๐ฎ๐๐ญ๐ข๐จ๐ง ๐ฐ๐๐๐ค๐๐ง๐ ๐ข๐ง ๐๐๐ฉ๐ญ๐๐ฆ๐๐๐ซ. ๐๐ข๐ญ๐ก ๐ค๐ข๐๐ค-๐จ๐๐ ๐๐ญ ๐:๐๐๐ฉ๐ฆ ๐๐ ๐ญ๐ข๐ฆ๐, ๐ญ๐ก๐๐ซ๐ ๐ฐ๐๐ฌ ๐ฉ๐ฅ๐๐ง๐ญ๐ฒ ๐จ๐ ๐จ๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ฒ ๐๐จ๐ซ ๐๐ ๐๐ง๐ญ๐ฌ ๐ญ๐จ ๐ซ๐ฎ๐ง ๐ฉ๐ซ๐ข๐ฏ๐๐ญ๐ ๐ข๐ง๐ฌ๐ฉ๐๐๐ญ๐ข๐จ๐ง๐ฌ ๐๐ง๐ ๐๐๐ฅ๐ฅ ๐๐ฎ๐๐ญ๐ข๐จ๐ง๐ฌ ๐จ๐ง๐ฅ๐ข๐ง๐.
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, โ๐ต๐ฉ๐ฆ ๐ข๐ฏ๐ค๐ฉ๐ฐ๐ณ๐ช๐ฏ๐จ ๐ฐ๐ง ๐ญ๐ฐ๐ธ ๐ช๐ฏ๐ต๐ฆ๐ณ๐ฆ๐ด๐ต ๐ณ๐ข๐ต๐ฆ๐ด ๐ช๐ด ๐ข ๐ฃ๐ช๐จ ๐ฅ๐ณ๐ช๐ท๐ฆ๐ณ ๐ฐ๐ง ๐ฑ๐ณ๐ช๐ค๐ฆ ๐จ๐ณ๐ฐ๐ธ๐ต๐ฉ ๐ฃ๐ถ๐ต ๐ต๐ฉ๐ฆ๐ณ๐ฆ ๐ข๐ณ๐ฆ ๐ฐ๐ต๐ฉ๐ฆ๐ณ ๐ง๐ข๐ค๐ต๐ฐ๐ณ๐ด ๐ด๐ถ๐ค๐ฉ ๐ข๐ด ๐ข๐ฏ ๐ฐ๐ฏ๐จ๐ฐ๐ช๐ฏ๐จ ๐ด๐ช๐จ๐ฏ๐ช๐ง๐ช๐ค๐ข๐ฏ๐ต ๐ฅ๐ช๐ด๐ค๐ฐ๐ฏ๐ฏ๐ฆ๐ค๐ต ๐ฃ๐ฆ๐ต๐ธ๐ฆ๐ฆ๐ฏ ๐ฅ๐ฆ๐ฎ๐ข๐ฏ๐ฅ ๐ง๐ฐ๐ณ ๐ฑ๐ณ๐ฐ๐ฑ๐ฆ๐ณ๐ต๐ช๐ฆ๐ด ๐ข๐ฏ๐ฅ ๐ต๐ฉ๐ฆ ๐ด๐ถ๐ฑ๐ฑ๐ญ๐บ ๐ฐ๐ง ๐ฑ๐ณ๐ฐ๐ฑ๐ฆ๐ณ๐ต๐ช๐ฆ๐ด ๐ง๐ฐ๐ณ ๐ด๐ข๐ญ๐ฆ, ๐ฐ๐ฏ๐จ๐ฐ๐ช๐ฏ๐จ ๐ณ๐ฆ๐ด๐ต๐ณ๐ช๐ค๐ต๐ช๐ฐ๐ฏ๐ด ๐ฐ๐ฏ ๐ฉ๐ฐ๐ธ ๐ฑ๐ฆ๐ฐ๐ฑ๐ญ๐ฆ ๐ค๐ข๐ฏ ๐ด๐ฑ๐ฆ๐ฏ๐ฅ ๐ต๐ฉ๐ฆ๐ช๐ณ ๐ฎ๐ฐ๐ฏ๐ฆ๐บ ๐ข๐ฏ๐ฅ ๐ต๐ฉ๐ฆ ๐ง๐ข๐ค๐ต ๐ต๐ฉ๐ข๐ต ๐ฑ๐ฆ๐ฐ๐ฑ๐ญ๐ฆ ๐ข๐ณ๐ฆ ๐ญ๐ฐ๐ฐ๐ฌ๐ช๐ฏ๐จ ๐ต๐ฐ ๐ถ๐ฑ๐จ๐ณ๐ข๐ฅ๐ฆ ๐ต๐ฉ๐ฆ๐ช๐ณ ๐ฉ๐ฐ๐ฎ๐ฆ๐ด ๐ฃ๐ฆ๐ค๐ข๐ถ๐ด๐ฆ ๐ต๐ฉ๐ฆ๐บ ๐ด๐ฑ๐ฆ๐ฏ๐ฅ ๐ด๐ฐ ๐ฎ๐ถ๐ค๐ฉ ๐ต๐ช๐ฎ๐ฆ ๐ต๐ฉ๐ฆ๐ณ๐ฆโ.
Congratulations to all the Dees fans, what a game over the weekend! Stay safe and be well.
๐๐ฎ๐๐๐๐ฌ๐ฌ. ๐๐ญโ๐ฌ ๐ ๐
๐ฅ๐๐ญ๐๐ก๐๐ซ๐ฌ ๐ญ๐ก๐ข๐ง๐ .
