Real Estate

Affordable Ferntree Gully kicks off Knox auction season

13 Hamsterley Square Wantirna
Written by The ReReport
As seen in the Source link, written by on 2019-01-18 10:44:05

First-home buyer hot spot Ferntree Gully kicks off the auction season in Knox with five properties on offer on Saturday.

January 19 auctions will also include one property each in neighbouring Upper Ferntree Gully, Wantirna South and Wantirna.

Local agents expect better results at Knox auctions compared with late 2018 results due to renewed buyer interest.

Huge investor gains with townhouse sites

Smaller Boronia homes lure buyers

A rise in inspection numbers from first-home buyers plus realistic price expectations of sellers should boost auction results, Ray White Ferntree Gully agent Jimmy Shan said.

He said inspection numbers were healthy, with more than 10 groups per home each weekend in early January, and most properties should have multiple bidders.

“The properties should all sell on the day and even after being passed in, unless vendors have unrealistic price expectations,” Mr Shan said.

“Those interested are mainly first-home buyers and a few are looking to upgrade or downsize but there is no investor interest.”

13 Hamsterley Square has a lovely outdoor entertainment area.

The Knox market ended last year on a patchy note with clearance rates falling from the highs of 80-90 per cent to 50-60 per cent.

Agents noted more active buyers in the first few weeks of the new year.

Harcourts Wantirna agent Emilie Jordanou agent expected 13 Hamsterley Square, Wantirna to sell on Saturday, with both the vendor and several buyers keen on a deal.

The single-level property with landscaped surrounds and deck has attracted mainly families keen to upgrade or get into the zone for popular Templeton Primary School.

“We have had 35 groups of buyers in three weeks and should have 50 by Saturday,” she said.

“It is not bad for the start of the year compared to some campaigns last year which had only 15 groups through.”

In Bayswater North, a three-bedroom house at 9 Anderson Close with a $500,000-$550,000 price guide has an early start with a 9am auction.