Market Update 13th October 2020
By Advantage Property | 12th Oct 20
The old adage that they don’t build them like they used to holds true with single level villa units. They continue to be in strong demand across Melbourne with a number of different demographics including first home buyers and older downsizers and investors. We have seen strong demand recently for some of our Vendor Advocacy villa units.
These included a 2 bedroom updated unit in Purinuan Road, Reservoir which sold for $629,000 with two first home buyers competing. It was a great result for our clients who purchased the property last year through our Group Block Strategy for $ 409,000 achieving a great profit after some cosmetic renovations.
We also had strong demand for our Vendor Advocacy property in Chelsea where a single level villa unit in Chelsea Road sold to an investor for $555,000. We had 15 groups through as soon as lockdown restrictions were eased and the property sold well and quickly in 7 days.