Hot Spot?

Hi All.

I made some noise last week about list and sell prices in the Fawkner area (That’s Melbourne for my interstate and international friends) and I thought I had better give all you budding investors/ home buyers a quick update.

There are a few listings floating around for that area that suggest mid $400k as a starting point (between $420k and $470k ish). For those of you looking for Fawkner, forget anything with a 4 in front. Recent sales in the last 3 weeks have seen results starting at $507k and progressing well in to the $600k mark. The concrete commission homes are generating $530k-$580K on a 600m2 block regardless of list price at the moment. (not bad for something that sold for $6000 quid originally)

So if you are looking at “the next suburb” starting to jump up based on the “ripple effect”, maybe have a look here. I missed one to another buyer that sold at $450k 9 weeks ago….kinda wished I had pushed the issue now.

Cheers.

Garry