Blue chips break fall

Herald Sun - Property - - MARKET WRAP -

de­mand re­sults in growth for the mar­ket.”

Mal James, of James Buy­ers Ad­vo­cates, agreed that while some heat had gone out of the mar­ket, there was still strong com­pe­ti­tion for qual­ity prop­erty.

“The mar­ket is not tank­ing on good well-priced A and B grade homes — not by any stretch of the imag­i­na­tion,” Mr James said.

“The mar­ket has flat­tened, turn­ing a bit, but the lo­cal de­mand, and it’s very strong on the A graders, seems to be lay­ing the struc­ture for a soft land­ing.”

Strong re­sults were posted at many top-end auctions last week, led by the big­gest re­sult re­ported to CoreLogic RP Data of $7.805 mil­lion for a Vic­to­rian ter­race in Al­bert Park.

Three bid­ders com­peted for the stun­ning dou­ble-fronted, dou­ble storey home at 24 St Vin­cent Place that was sold by Mar­shall White for $495,000 above the re­serve.

Top-end prop­er­ties north of the river also per­formed strongly, with a sale in Fitzroy North show­ing buy­ers are still will­ing to pay big bucks.

The four-bed­room Vic­to­rian home at 79 Del­bridge St was sold un­der the ham­mer by Nel­son Alexan­der, Fitzroy, for $3.4 mil­lion.

Sell­ing agent Ja­nine Bal­lan­tyne said there were three bid­ders on auc­tion day which showed their was still strong de­mand for qual­ity homes.

jor­dan.mar­shall@news.com.au

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