• April 12, 2014

Autumn Action Signals Growth

The true meaning behind the colour green is interesting to note as we can draw a direct parallel to the heated auction market. Green symbolises life, balance, desire to expand or to increase and this weekend, the colour showcased the mindset of passionate buyers across the Inner West. The property scene hit its last hurrah before the Easter weekend as buyers competitively scoured the Inner West where activity is alive across a range of price points. According to new figures from RP Data, Melbourne’s home values are 4.7 per cent higher than their previous peak.

Director of Compton Green, Adrian Butera, provided his perspective on the hot property climate. “There is a cycle occurring right now. Every demographic is treading the marketplace and competitively vying for a home or investment which has captured their hearts. Interest rates, confidence and fear of missing out is driving the property scene,” he said.

A highlight campaign was held in a coveted lifestyle position at 44 Ann Street in Williamstown where a treasure trove of exciting potential and art deco charm is discovered. “Having breakfast with the family along Williamstown and enjoying the cosmopolitan lifestyle is what it’s all about,” called Nathan Johnson after motivating his excited audience about the sense of enjoyment in living here. A contest shortly ensued between a couple of parties and relief waved over the auction winner who bought this art deco delight for $905,000 while it was marketed as $800,000 plus.

Next on the auction agenda was 8 Union Street in Williamstown where warm traditional touches and modern zest combine to a beautiful effect. “House prices in Williamstown have bolted and it’s hard to get in but you can get in here. Today is one of those rare moments we offer a north facing backyard.” Silence was in the crowd during the whole auction as Adrian Butera even said at one point, “It’s like pulling teeth.” Soon after he extracted his first and only bid. Negotiations took place afterwards and this period beauty sold after auction for $777,000 while the marketed quote range was $720,000-$790,000.

Tucked away off the streetscape, it’s easy to see why this home was marketed as Hidden Secrets Promote Excitement. A keen group of locals circulated around Adrian Butera as he showcased the benefits of 2/324 Blackshaws Road in Altona North to the crowd. “$400,000” said the first bidder and this auction signalled a rapid pace right from the get go. “$450,000” yelled out the second bidder and the two interested parties stood confidently opposite each other, hotly contesting for this well loved home which sold for an undisclosed price.

A neighbour of Blackshaws Road, Connie, voiced her personal opinion on the property climate. “We’ve been looking around lately and in  the last three months, prices continue to be going up. The trend seems to be that right now is a great time to be selling. It’s great to see plenty of activity at this auction and it looks like we will be having a nice neighbour which is such a bonus!” she said.

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