AFL Grand Final Weekend Activity

As always, the following in no way constitutes financial advice and no warranty is offered as to its accuracy or validity.  The reader is to make their own inquiries prior to making any decisions.

There were no reported Auctions on the weekend in my focus areas.  Apparently there was a Football game on somewhere.

In the City of Port Philip there were approximately 15 properties open for inspection.   I had 202/1 Stokes Street, Port Melbourne open for the first time.  It is a very clean and functional 2 bedroom property with a price guide of $975,000 to $1,050,000.  20 groups attended the first open for inspection with a demographic spread being a mostly 45 plus age group (70%).  Mostly owner occupiers.

202/1 Stokes Street, with 2 bedroom, 2 Bathroom, 1 Car at or below the sub $1,000,000 mark is in the sector of the apartment market in Port Philip which is still very strong.   Through the last 6 months as other sectors struggle, this sector is still achieving pricing above expectations.

Real Estate portals show there are 16 Properties scheduled for Auction throughout the City of Port Phillip next week, evenly split between houses and apartments.   In the Wyndham Areas of Hoppers Crossing, Werribee, Werribee South and Wyndham Vale there are 10, mostly houses going under the hammer.  Glen Iris, Armadale, Hawthorn and Hawthorn East are putting up mostly units for competition with only 2 of the 15 being houses.  Newport, Williamstown and Seaholme are at the complete opposite of that, with 22 Auctions of which only 2 are apartments.

The week ahead will see a large swath of properties across Melbourne come onto the market offering buyers more choices.  Last week, more than a few forthcoming Auction signs have appeared and the coming 4 weeks will give a very strong insight into how much the market has settled or grown within each suburb, sector and sub sector of the Market.

Melbourne should pretty quickly get back into the spring market with a few super Saturdays on the way and no distractions for at least the next 4 weeks.

Needing advice on how to get the best outcome?  Call me;

Jonathon Bird

Licensed Estate Agent

0419 536 905

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