market update

As we wave farewell to a year that has challenged us all in many different ways, it’s reassuring to see 2021 is already off to a strong start. A surge in buyer confidence has seen over 20 properties transact in January through our network - a time that would normally be considered quiet.

It is becoming clear to successful bidders that Government action and low-interest rates from the banks have put Australian property in an enviable position on the world stage. Less than 12 months ago we heard economists talking about a 30% reduction in the value of real estate in Victoria, how they have been disproved.

Lynn Lum and I welcomed a new member to our growing and award-winning sales team with Cherie Tomkins joining us. Calling Dock 5 in Victoria Harbour home after living in New York for almost two decades, Cherie brings a world of skills and experience to the team and has already started to make an impact.

Our feel-good sale for the month was 708 in Boyd where we said goodbye to a long-term local family and welcomed another. Selling for $550,000 this was a great result for Boyd where properties continue to be tightly held. The renewed local vibe through NewQuay has been achieved with the opening of Docklands Primary School, through pick up and drop off times more families are enjoying our local businesses as well as District Docklands.

Kong Tran & Cary Thornton completed an amazing sale over at the P.M. complex in Port Melbourne where they sold one of the sub-penthouses for an undisclosed sum. A 162sqm home perched on the 11th floor with three car spaces was a unique offering in the area.

Through the month of January, we saw 722 prospective purchasers come into Docklands and inspect what was on offer. Stemming from 2,680 enquires in only one month across our network, Docklands is very much in demand right now.

Serena Su & Vicky Leong ran a perfect marketing campaign in The Arkley with their sale of 706. After only on the market for a few weeks, this classic NewQuay two bedroom, two bathroom home was snapped up by an owner-occupier moving into the area. Over the last two years, we have seen 86% of resale apartments transacting to owner-occupiers who want to take advantage of the benefits of living in Docklands.

With the market more active than ever, we are ready to assist with any questions or plans that you have. Our experienced team continues to outperform the market and competition throughout Docklands, and we look forward to speaking soon.