market update

I would like to start on a positive note, to wish everyone’s next financial year to be stronger and better for you, your family, and our beautiful city, which needs a lot of help getting back to what we know. It’s fair to say that the word “challenging” is possibly the most used word in the last 18 months. Especially in a business sense to describe how we now all work and to keep things moving.

It’s hard to believe we’re already at the end of the first month of this financial year! Yes, most of it was in lockdown, but for the 5th time, our team has always found a way to pull through and continue to list and sell properties. Even though, we as an industry appear to suffer similar harsh conditions to retail and hospitality with our office closed and no physical inspections under any circumstances. As the group sales manager, I am very proud of the way our team has responded and adapted to get the job done. Either via phone calls, emails or zoom meetings internally or with clients, we’ve found a solution for every situation.

I am very pleased to report that we have sold over 170 properties in Melbourne, Southbank, Docklands and the surrounds up until 30th June 2021. With the strength of the market, it's no surprise that we've seen our average sale price exceed $650,000 and the vast majority of our sales have been to owner-occupiers.

Fortunately, this most recent lockdown was “just” long enough that we were at the pointy end of many discussions and negotiations with the buyers. With the Lucas team well accustomed to digital sales, whether clients lived locally, interstate, or overseas we are able to kick off July with a strong start despite the circumstances.

A special mention to Tom and Cherie for selling a stunning apartment in the Nolan building for more than $1,200,000.

Whilst some properties were already online at the start of lockdown, it was a race against time last Thursday to film videos of properties that hadn’t entirely made it to market. This meant we were able to give our known-interested buyers an off-portal description and virtual tour. This one improvement has seen countless properties sell since lockdown 1.0 with us and will continue to do so even out of lockdown. Please do keep a lookout for some of those above-mentioned apartments to launch very soon.

And finally, hard to believe but in a little over a month, we will be into Spring – the “traditional” time to sell in Melbourne when the weather is a little warmer and the days are longer, so if you have been waiting for winter to wind up and are contemplating a move in the new financial year, we are only a call away to assist.