The long weekend was a quiet reprieve after a crazy few weeks of sales activity.
Numbers at opens were mixed, with anywhere from three to 35 groups inspecting our homes.
Stock levels seem to be quite healthy right now scrolling through REA. Last week in particular saw quite an influx of properties going online to get in before Easter.
Furthermore, some of the buyers from the new year have exited the market – either having bought or having retreated – deciding things are a little too hot right now and they’ll take a back seat for the next few months.
Our online views per property have dropped slightly compared to January and February, indicating that some of the imbalance between number of buyers and number of listings is diminishing.
Still, it’s pretty hot out there.
We auctioned 3/69 Denbigh Road, Armadale on Tuesday evening – a stunning Church conversion – which saw very competitive bidding and a record price for the development well above our and our vendors’ expectations.
To add more fuel to the fire the Big Four Banks are currently in a race to the bottom with Westpac now offering 1.79% fixed for two years and the others likely to follow suit.
Could we foreseeably see rates as low as 1.50% in the near future? Or is this rock bottom? Time will tell.
New Listing of the Week
Tomorrow we are excited to launch 20 Clara Street, South Yarra ($2,400,000 – 2,600,000) – a beautiful brick Victorian terrace – four bed, three bath, two car – including a lock up garage with a studio above, ideal for working from home.
Off Market of the Week
Upton Road, Windsor – A stunning, fully renovated freestanding brick Victorian double front – three bath, two bath on 325sqm – with classic period charm, abundant natural light and an extremely well finished and executed renovation. (Suitable for buyers $3,000,000+)
Please let me know if you would like to see the photos.
Kind regards,
David.
David Sciola 