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Market Wrap


Welcome to 2018! There is plenty happening in the first quarter of 2018 in the real estate world, that’s for sure. The reserve bank has this week declared that interest rates are to remain at the all-time low of 1.50% which we think will only enhance buyer confidence in the market coming into the busy February selling season. School holidays are over and most people are back on deck from the Christmas / new year break and now is proving a popular time for sellers.

Our office looks to have a record month in line for February and March following suit closely as most sellers are looking to sell prior to the early Easter break this year. Having said that there has certainly been buyer activity over the break – our office sold 22 Murchison Street, St Kilda East off market for in excess of $2,000,000 to an out of area buyer on our database. Moving forward we have some exciting quality property on the market that are showing strong buyer demand – 8 Rose Street, Armadale is a stunning double fronted Victorian home, renovated to perfection which will be offered via public auction on the 17th of February at 1:30pm and 9 Aintree Road, Glen Iris, another beautifully renovated double fronted period home with strong buyer interest.

There is a real sense of optimism with buyers in the market at the moment which is reflected in incredibly strong inspection numbers for the first few weeks of the year. With the first quarter of this year proving to be slightly interrupted with public holidays and long weekends, most vendors considering selling are booking in for auctions now in order to secure their preferred date and time – if you are considering selling we would encourage you to give us a call.