Real Estate

‘Motivated buyers’ on the hunt in Boroondara

‘Motivated buyers’ on the hunt in Boroondara
Written by The ReReport
As seen in the Source link, written by on 2019-01-15 20:26:15

The property at 3/61 Park Rd, Surrey Hills has changed hands.

Motivated buyers have wasted no time in securing properties across Boroondara, notching the region’s first 2019 sales weeks before auctions are set to return.

In Surrey Hills, the $1,226,500 private sale of a four-bedroom townhouse at 3/61 Park Rd on January 11 was the fifth-highest Melbourne price reported to CoreLogic for that week.

The area’s schooling had been a key drawcard for the buyers, a family from out of the area, Woodards Blackburn agent Luke Banitsiotis said.

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The townhouse sold to a family drawn to the area’s schools.

“One of the biggest drivers for the whole eastern corridor is the range of schooling options, whether it’s private schools in Boroondara or you head further out to some of the elite public schools,” he said.

Mr Banitsiotis said there had been good buyer activity despite the summer holiday auction hiatus.

“I’ve had open for inspections over the past couple of weekends with 15-plus groups coming through the door, so there are plenty of people out there looking which is a good sign.

“We’ll wait and see when all of the new stock hits the market whether that trend will continue — I think it will level out a bit.”

Though it was a quieter period, the first weeks of the new year still saw action from determined buyers who had set goals to buy property, plus those who had missed out last year.

“In each of the past two to three years I’ve sold three or four properties at this time of year because you are dealing with motivated buyers.”

Elsewhere in the area, a three-bedroom townhouse at 4/1216 Old Burke Rd, Kew East changed hands on January 7 for $960,000.

Another townhouse at 252 Wiltshire Drive sold on January 4 for an undisclosed price.

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