Open slather for homes
Agents tap into positive outlook for real estate
GEELONG is set for a bumper real estate weekend, despite the AFL Grand Final eve public holiday today.
There will be 425 properties open for inspection and owners will be hoping the profit trend reported by CoreLogic continues.
Its quarterly Pain and Gain report shows 95.7 per cent of homes sold in Geelong since July netted a profit.
Maxwell Collins director Nick Lord was not surprised by the profit figures.
“The figure of 95.7 per cent suggests the last three months is a clear example of how strong the market is, highlighted by the amount of auctions and opens we have at this time of year,” Mr Lord said.
“The market is as strong as I’ve seen it in the past five-to-six years. We, as a company, have as many auctions in the next two months as we’ve ever had,” he said.
In the build-up to the long weekend, Geelong reached a 72.7 per cent clearance rate last weekend, with 33 of 45 properties selling under the hammer.
“Market demand is strong, when Geelong sees such a strong auction market, it indicates the strength of the total market, in a quieter market with less demand, auctions aren’t as prevalent because the success rates aren’t as great,” Mr Lord said.
The footy weekend is traditionally a bye for agents and, even though there are plenty of open for inspections, there is only one auction booked in for the next three days.
Laura Berry, at Stockdale and Leggo, Belmont, will put 15 Cara Rd, Highton, under the hammer at noon on Sunday.
“We like to be a bit different here in South Barwon,” Ms Berry said.
“This weekend worked with our owner, it really just worked with the owner’s schedule.
“We have had some great numbers through, a lot of younger families looking to get into that river precinct, good size block of about 800sq m, follow the road down and you’ve got the river.”
The house has three bedrooms and views over Geelong. Inside there are open beam ceilings, a retro kitchen and plenty of living space.
“It has a gorgeous wraparound design, lovely treed area, such a quiet address with everything on its doorstep,” she said.