Real Estate

National day marks great Aussie dream come true for first-home buyers

Written by The ReReport
As seen in the Source link, written by on 2019-01-28 22:02:57

First-home buyers were out and about on Australia Day on the hunt for their first property.

First-home buyers were out and about on Australia Day looking to purchase their slice of Aussie property.

An auction for a Box Hill apartment took 30 minutes and saw the sale price shoot more than $11,000 above reserve.

Ray White Box Hill director Jeremy Tyrrell said the two-bedroom pad at G03/2-4 Elland Ave was snapped up by a first-home buyer who was renting in the same complex.

It sold under the hammer for $546,000.

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A first-home buyer snapped up G03/2-4 Elland Ave, Box Hill, for $546,000.

The two-bedroom apartment features a large balcony.

“It was a long auction, two groups were bidding relentlessly, they wouldn’t let go,” Mr Tyrrell said.

“We got down to small amounts, $1000 and $500, with each bidder trying to keep their nose in front but neither group would give in.

“Anything under $600,000 is getting lots of attention.”

Five bidders vied for the keys of 4/33 Albion Rd, Box Hill.

It sold under the hammer for $451,000.

A first-home buyer also had success in snapping up a Box Hill unit on Australia Day.

Eleven registered bidders eyed off the two-bedroom pad at 4/33 Albion Rd, which sold $31,000 above reserve.

Five bidders were able to get into the auction action, placing a collective 22 bids.

The hammer fell at $451,000 in front of a crowd of about 75 people.

Mr Tyrrell said it was a fast auction which hit the reserve quickly.

“I spoke to her (the buyer) the week prior and she said ‘this is the one I really want’ — she had her heart set on it,” Mr Tyrrell said.

“It had a courtyard which was a point of difference and was in the sweet spot for first-home buyers.”

712/101 Tram Rd, Doncaster, was purchased by a first-home buyer in the lead up to the long weekend.

Philip Webb Doncaster East agent Robert Groeneveld said first-home buyers were one of the most active groups in the current market, capitalising on lower prices.

“They are reading The Barefoot Investor, staying at home into their late 20s and saving money — not getting smashed avo as everyone says,” Mr Groeneveld said.

“At the moment it’s a prime opportunity for first-home buyers to find properties.

“They aren’t competing with investors as much.”

Ahead of the long-weekend, a two-bedroom apartment at 712/101 Tram Rd, Doncaster, sold to a young buyer for $407,000.

The contemporary pad with city views had a $390,000-$429,000 price guide.

Mr Groeneveld said quality apartments at entry level prices were very popular at the moment.

“It’s 20km from the city, there’s a bus stop out the front, a stone’s throw from the freeway and shops across the road,” he said.

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