In Reservoir, property buyers are using buyers agents more and more, due to a high volume of property for sale by auction method.
Auction property is a very commonly used sale method for Reservoir in 2016. The competition is strong, and anyone considered to be a novice should give some serious consideration to using a buyers advocate. The growth of buyers agent over the last 24 months has been strong, with many more people realising the benefits of using an advocate to represent their interest, particularly at the auction. The auction dynamics are difficult to read, and preparation, research, discussion and investigation are the keys that will influence the outcome. Most people just turn up, and hope for the best.
The Darebin City Council contains 13 suburbs, it is a smallish family based community, it is close to the city, easy to get to the lush forests of Melbourne.
Alphington, Bundoora, Coburg, Coburg North, Fairfield, Keon Park, Kingsbury, Macleod, Northcote, Preston, Regent West, Reservoir and Thornbury.
The most auction sales in one suburb for Victoria is Reservoir.
This is a list of the top 10 auction property suburbs in Victoria, 2016.
1. The suburb of Reservoir had the largest amount of property, 451 sold from 598 auctions, making a healthy 75% clearance rate.
2. Craigieburn is a suburb most out of towners haven’t considered, with 324 out of 405 sold, making a strong 80% clearance.
3. Bentleigh East is getting closer to the beach, selling 314 from 402 making a strong 78% clearance.
4. Richmond our inner city dream suburb, has so much to offer for people working in the city. Selling 296 from 396, 75% clearance.
5. Glen Waverley of course, the most talked about suburbs in Melbourne at present, with the process going way over value, no wonder a low clearance rate, only 294 from 448 gives a low 66%, indicative of the unrealistic expectations of the vendors. #LOL
6. Mount Waverley, “the Glen’s” cousin, inheriting the values and competition all this year selling 284 from 419, giving a 68% clearance.
7. Glen Iris is a really beautiful part of Melbourne, its centred around High street, with excellent access to the city. There were 277 out of 353 sold giving a 78% clearance.
8. Brighton is one of the most cut-throat property markets in Melbourne, and buyers agents should be compulsory in this region. They managed 273 out of 332, 82% clearance, a little about Melbourne average.
9. Preston has developed a very reliable reputation over th last few years, but I would have to say the developers are forcing their way through the suburb like locusts. A lesser volume of 268 from 355, but a smart 75% clearance rate.
10. St Kilda, of course, my favourite suburb had 21 auctions last Saturday. A lower than average clearance rate of 69% from 260 out of 376 properties listed.
Here are some recent property sales in Reservoir
|Address||Type||Bed||Bath||Car||Result||Sale Date||Sale Price||Agency|
|5/2 Griffiths St, Reservoir||Unit||2||1||1||Sold At Auction||10/12/2016||$420,000||Harcourts|
|40A Darebin Bvd, Reservoir||House||2||1||1||Sold At Auction||10/12/2016||$612,000||Hockingstuart|
|15 Coleman Cr, Reservoir||House||3||1||2||Sold At Auction||10/12/2016||$770,000||Nelson Alexander|
|1/73 Oakhill Av, Reservoir||House||6||3||2||Passed In||10/12/2016||$1,100,000||Nelson Alexander Real Estate Preston|
|3/66 Darebin Bvd, Reservoir||Unit||2||1||2||Sold At Auction||10/12/2016||$401,000||Darren Jones Real Estate|
|23 Tovey St, Reservoir||House||3||1||1||Passed In||10/12/2016||$660,000||Barry Plant Reservoir|