The purchasers were repeat clients who had decided to purchase their final down size. They engaged Stuart to evaluate, position and then bid at auction. We carried out the usual due-diligence including arranging a contract review, strata report and analysis on purchasing range. There was strong bidding which resulted in a strong price which we had factored into the value range and prepared our clients for. All the bidders were downsizers and the rarity of the offering underscored the interest. With the downsizer market growing, there is short supply of the type of property we purchased – 3 bed, 2 bath, 2 park, less than 200m to shops and almost a level walk to the amenity, no lift resulting in lower levels and being a ground floor apartment with over 70m2 externally, there were only a few steps into the apartment. The bonus was the property wasn’t part of an over 55’s development, which means it will appeal to a wider market when sold in the future at which time there will be even stronger demand from empty nesters (down sizers). With so much speculation about the future property in 2018 already, this type of asset is risk adjusted, there isn’t enough of this this type of property to meet current and future demand… Scarcity drives value, always!
Contact Stuart Jones today to discuss how he can assist with securing the right property for you.