One swallow does not make a summer! But the market really does seem to have turned. There are literally hundreds of buyers milling through home opens each weekend. Employed, pre-approved and ready to take the plunge. To be property owners.
October was a month of huge activity for us. Multiple offers, across multiple properties with multiple contracts. It was bloody busy!
30 Mackie Street, Victoria Park hit the market. An ornate and exceptionally renovated 4 x 2 character home on a survey strata 460m2 block. This sort of housing stock is in short supply and ultra high demand in the area.
Two viewings, 42 groups through (70-80 people!) and three offers within 24 hours and the Auction is set to go this Saturday November 11th with great price feedback and interest.
Rewind a few weeks ago where we had 40+ people through another beautifully renovated 4 x 2 weatherboard cottage – 45 Tuam Street, Victoria Park. Three offers were written by the end of the evening and the home Under Offer the next day. 3 Withnell Street, East Victoria Park was no exception – Under Offer after the first viewing.
On the whole it is owner occupiers buying well presented and well maintained homes. It is not speculative buying. But good solid bread and butter, ‘let’s get on with our lives’ real estate. Three years of relative in-activity has lead to a release of pent up demand.
So if you are a seller the big tip is – presentation counts. Paint, gardens, cleanliness, furniture, get it right. Just once.
30 Mackie Street and 45 Tuam Street are your canaries in the coal mine.
Marketing – get it right. To date, our Facebook campaign for 30 Mackie Street sees us at a reach of 28,000 (the number of people who have seen the post), 179 comments, 627 link clicks (viewed the property on our website via this Facebook post) 4544 photograph views and multiple shares. These stats are big. You cannot afford to NOT play in this space, we understand the power and the nuances of this platform and the analytics we are fed back are undeniable. Properties are being sold via Facebook and Instagram.
If you are a Buyer, just count yourself lucky that there are no investors in the market…yet, and look at the ugly ducklings if you want real value! The good properties sell quick. So get yourself on an Agent’s database, talk to those doing the business (we have listings signed up/ready to go that nobody knows about yet) and enjoy instant access to the best new housing stock.
A good local agent can help you with all of this. Experience, enthusiasm and marketing smarts count.
(Check out my 3 minute vlog on what’s happening at the coalface here – Buyers’ Agents are circling…)
Derek Baston
Director
M: 0417 99 23 24
