12 Mar 2014 By: Greg Hocking 0 Comment
The Reserve Bank’s decision to leave interest rates on hold again this month is music to the ears of buyers who are determined to make their next property purchase in the buoyant autumn market. It’s good news for sellers too, with steady interest rates helping to underpin buyer confidence which in turn gives rise to the strong levels of demand we’ve seen this year to continue.
Latest figures from RP Data confirm the high levels of market activity with 1,875 auction sales recorded last month – the best February result since the market peak in 2010. The big auction volumes, competitive bidding and great results are showing no signs of abating with levels of buyer enquiry remaining very high.
We’ve achieved some standout results for our sellers in recent weeks, including last Sunday’s auction of 96 Armstrong Street, Middle Park. Our targeted marketing campaign drew four determined bidders to the auction and competition for the 4 bedroom property was fierce. The final sale price was a very strong $2,475,000 which represents a 31 per cent increase in value in the 14 months since this property last sold for $1,880,000.
Across Melbourne our team is achieving great results every weekend. Put their experience to work for your sale by contacting us today.