Fierce Competition in Inner West Continues
With the autumn market being somewhat ‘stop-start’ due to the Easter break and Labor day long weekend, we have seen fewer properties hit the market so as to avoid interrupted campaigns.
This scarcity has been a major driver of exceptional prices in all price points throughout Melbourne, despite predictions of a cooling market in 2016.
In what was a world first, Compton Green conducted the first 360-degree filming of an auction with the assistance of realestate.com.au. We are super excited to be applying new technology available to us from drones, 3D property views and now the first 360 degree auction filmed!
The footage is soon to be released and will be viewable on your smart phone. The property featured was 5 Gladstone Street, Yarraville, a humble three bedroom home in the Yarraville village only two doors in from the train line. Marketed $730,000+ selling under fierce competition for $1,000,000, well above all expectations!
The campaign consisted of 161 inspections, 15 second inspections and 35 contracts issued, which resulted in 5 bidders on the day with a number of other bidders unable to get a look in.
With less choice available, buyers are fighting hard for the keys and willing to push that little bit more to secure their slice of the Inner West.
We hope you all enjoyed a delightful Easter and we look forward to seeing you soon!
