Pockets of Popularity
The footy fever is now over so this means the real estate game is the prime focus. Two hot spots, Kingsville and Williamstown proved how the Spring property scene is vigorous and as a result, significant growth is defining Melbourne’s inner west. These suburbs are the heartland of family buyers as they are made predominantly up of coffee shops, schools and often large blocks where it is all about centering your lifestyle. There is a growing evolution of buyers attracted to these areas because people do not just want merely a dream home but a convenient setting is a high priority on the list as well.
294 Somerville Road, Kingsville which is a Californian Bungalow with old world warmth embracing a contemporary twist sold before auction. Once inside, a broad entry hallway sweeps back to the romance of a bygone era as high decorative ceilings, rich timber panelling, leadlight and baltic pine floorboards is revealed. A steady stream of interested parties competitively fought for this three bedroom, two bathroom property and it sold for $826,000 while the marketed quote range was $690,000-$750,000.
166 Osborne Street in Williamstown immediately commanded the attention span of auction attendees as the country styled front garden and timeless facade provides such an alluring first impression. Advertised as “Charm In Sync with Lifestyle,” this romantic period family beauty is within strolling distance to Williamstown Beach, Botanic Gardens, schools and Nelson Place restaurants. The versatility of three living areas including an upstairs retreat ensures excellent entertaining and separate breathing space for the entire family. Over 70 people watched as Auctioneer, Adrian Butera explained this treasured home’s assets. “Young families, this is a home which you could live in for decades and the prestigious setting reaps invaluable rewards,” he said. A couple of bids did not quite reach the magic mark but after consultation with the vendors, this property sold for an undisclosed price.
In the inner west, population figures are on the rise and such trends are reflected in statistics from the last quarter. Every area of the market is performing well and another hot part without doubt are the off market opportunities. The next few weeks highlights how we are in the peak of a selling climate as a high degree of confidence has seen competitive tensions between bidders. On the 18th of October, we have eight auctions scheduled and on the 25th of October there are 10 piled up in the auction book (that is if we do not sell them prior!)