Keeping you informed by John Hoskins & Brent Peters

09
Nov

I’m sure we’ve all noticed the very
different spring weather. We’ve had more
than enough wet days, below average
temperatures and numerous storms that
have knocked out power. It’s been a very
‘wintery’ start to the spring season! Even
the Cox Plate at Moonee Valley was run in
record low temperatures, and that was late
October!
The poor weather conditions may have
actually helped real estate prices. It has
been quite noticeable that there are fewer
properties on the market this year. Possibly
the adverse weather has had an impact
in the potential seller’s ability to properly
prepare their properties to go onto the
market, or maybe it’s just that it hasn’t really
‘felt like spring yet.’ Whatever the reason, it
has definitely created a shortage of supply.
Buyers on the other hand, have been
out in force. Their numbers have been
steadily increasing since August and risen
dramatically since the end of the football
season. With less properties on the market,
they have been forced to compete with
other buyers for the limited supply. This
has definitely had a positive impact on
price. Homes in the Maroondah area that
had been selling for $600,000-$700,000
are now mid-$700,000’s or higher. With
modern townhouses in the same area now
trading for as much as $1 million. Sellers
wishing to take advantage of this very
buoyant market need to get in now.
We are here to assist you with the local
knowledge and experience to ensure you
have the best result.

I’m sure we’ve all noticed the very different spring weather. We’ve had more than enough wet days, below average temperatures and numerous storms that have knocked out power. It’s been a very ‘wintery’ start to the spring season! Even the Cox Plate at Moonee Valley was run in record low temperatures, and that was late October! 

The poor weather conditions may have actually helped real estate prices. It has been quite noticeable that there are fewer properties on the market this year. Possibly the adverse weather has had an impact in the potential seller’s ability to properly prepare their properties to go onto the market, or maybe it’s just that it hasn’t really ‘felt like spring yet.’ Whatever the reason, it has definitely created a shortage of supply.

Buyers on the other hand, have been out in force. Their numbers have been steadily increasing since August and risen dramatically since the end of the football season. With less properties on the market, they have been forced to compete with other buyers for the limited supply. This has definitely had a positive impact on price. Homes in the Maroondah area that had been selling for $600,000-$700,000 are now mid-$700,000’s or higher. With modern townhouses in the same area now trading for as much as $1 million. Sellers wishing to take advantage of this very buoyant market need to get in now. 

We are here to assist you with the local knowledge and experience to ensure you have the best result.

John Hoskins