Add CategoryStrong winter results have blasted the chill from the Knox market.
Several properties have notched the year’s highest prices in their suburbs, as buyer numbers and bidders at auctions have risen.
Coupled with limited supply, the market has steadied and is primed to bounce back, local agents say.
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19 Meagher Rd was refreshed for auction sale and drew huge buyer interest.
Auctioneer Fabian Sanelli sold 19 Meagher Rd, Ferntree Gully for more than $100,000 above reserve.
Homes were selling quickly and not being replaced fast enough by new stock, Ray White Ferntree Gully director Patrick McConnachie said.
“A house at 19 Meagher Rd, Ferntree Gully sold for $103,000 above reserve and June has been our best month this year despite it being winter,” he added.
The updated four-bedroom house drew 10 bidders for a $733,000 result, sale records show.
Mr McConnachie noted inspection numbers had also doubled since January, with the clearance rate for the agency’s 127 auctions so far in 2019 at a strong 94 per cent.
11 Magdalena Place is a potential eight-unit site.
“Buyer confidence is rising and it is easier to get loans now but listings are still low due to winter and sellers waiting for spring,” Mr McConnachie said.
In Rowville, a 2500sq m property at 11 Magdalena Place fetched $1.7 million, which was the best result in more than a year in the suburb.
Byron Sweerts of Harcourts Rowville said the agency was still getting buyer inquiries for the home even after the sale.
“The market has bottomed out and buyers are now keen to get in before prices rise again,” Mr Sweerts said.
This new townhouse at Coolibah Cres has a streetfront location and house-like floorplan.
And a new townhouse at 13A Coolibah Cres, Bayswater fetched the suburb’s second highest price for such properties, with multiple bidders at the auction.
The double-storey streetfront home changed hands for $868,500 to a local couple, listing agent Ben Thomas of Ray White Ferntree Gully said.
In Ferntree Gully, 47 Piperita Rd sold recently under the hammer for $736,500. This was after it had failed to sell privately with another agency with a best offer of $650,000.
Ferntree Gully also had its first million-dollar sale in seven months when three bidders pushed the price of 131 Windermere Drive to $1.025 million, with several other buyers sidelined by the strong bidding.
“The result was due to there being heaps of buyers but a lack of supply of top quality properties in the area,” listing agent Billy Schroeder of Schroeder & Wallis said.
And a rare sale above $2 million was sealed for a Wantirna house at 84 Amersham Drive recently.
The large property on more than 3000sq m has potential for 10-12 units and is the highest sale price in Wantirna in more than three years, sales records show.
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