“Hi, It’s David Easterbrook with the Elite Buyer Agents Market Wrap
This weekend there were 934 auctions of which 74% sold. Melbourne is currently experiencing a two-speed market, houses and villas are outperforming apartments and town houses.
The auction of 3A Cowra Street, Brighton demonstrated how popular villas are. The competitive auction attracted 8 bidders and sold for $1.425 million which is $425 thousand over reserve.
Our tip for the week: the key to a great property is scarcity and location, shy away from properties of high supply such as off the plan apartments and town houses, apartments and town houses can be a good investment but look for location and x factors such as irreplaceable architecture and private outdoor areas.
I’m David Easterbrook, remember at Elite Buyer Agents – We’re on your side.”