Latest news with #RayWhiteGlenroy
Herald Sun
09-08-2025
- Business
- Herald Sun
Sydney investor wins Jacana bidding war for townhouse
When Robert King and Jinda Traynor decided to put their Jacana townhouse on the market, they hoped for a strong result, but didn't expect 11 bidders and a final price of $515,000, $65,000 above the top of the guide. The couple had lived at 3/5 Fraser Crt for several years, adding cooling, freshening interiors, and installing a pergola to turn the courtyard into what they called their 'little sanctuary.' When they finally found their dream home in Yarra Glen after three years of searching, it felt like the perfect time to sell. RELATED: Major Block 2026 detail exposed? 'Won't buy it': Big mistake Melb sellers make Vic's best lifestyle suburbs: Melb to Greater Geelong 'It was simply timing,' Ms Traynor said. 'We found something suitable right at the start of spring, with interest rates tipped to come down and the market feeling positive. 'It just lined up perfectly.' The townhouse drew more than 60 inspections over a four-week campaign, and on auction day the opening bid of $440,000 quickly surged past the $410,000-$450,000 guide. The winning buyer was a Sydney investor who had never stepped foot inside the property, purchasing sight unseen after a WhatsApp video tour. 'We're a little disappointed,' Ms Traynor said. 'There was a local woman who worked just around the corner and was very interested. 'It would have been nice to see it go to someone making it their home rather than an investment. But in the end, we got the best price possible.' Ray White Glenroy's Sebastian Rello said the sale reflected a broader shift in Melbourne's north, where interstate buyers are stepping in as many local investors sell up. 'Melbourne investors are over land tax, new tenancy laws, and constant legislative changes,' Mr Rello said. 'But for Sydney buyers, the value is obvious. 'Something similar in their city would be over a million dollars.' Mr Rello said two interstate bidders competed online — one from Adelaide and one from Sydney — with the underbidder being the local hospital worker. He noted many buyers were keen to secure a property before the expected interest rate cut on Tuesday. 'If you like a property, buy it now,' he said. 'Don't hesitate over a few thousand dollars, because in a year you could be paying 10 per cent more,' he said. The couple are now preparing to move to their larger Yarra Glen home, which comes with one big upgrade, a backyard for their dog. 'He's never had one before,' Mr King said. 'He'll finally have space to run around.' Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox. MORE: New supermarket to shake up Melb suburb Young Melb family's clever move pays off New supermarket to shake up Melb suburb
News.com.au
13-07-2025
- Business
- News.com.au
Pascoe Vale townhouse sells for $705k at auction
A young couple's six-month search for their first home has come to an emotional end in Pascoe Vale, with 3/8 Stewart St selling $25,000 above the advertised price guide after a fast-tracked campaign and a tightly contested auction. The two-bedroom townhouse changed hands for $705,000 under the hammer, with three active bidders among eight registered on the day, all of them owner-occupiers. Ray White Glenroy's Sebastian Rello said the result was fuelled entirely by first-home buyer demand. 'Not a shoebox': Windsor buyer wins big 'All owner-occupiers. Not a single investor. It was a genuine first-home buyer market today,' Mr Rello said. The new owners, Hayden Rayner and Monique Nagle, had spent the past six months looking for the right home before securing the keys. 'We were attracted to this property because of its homely feel — we're actually renting something similar,' Mr Rayner said. 'We like the area and being close to the station. It's been a long time coming … now we can finally focus on other things, like a wedding.' Set in a boutique block of just five homes, the property features two downstairs bedrooms with built-in robes, a renovated central bathroom, full-sized laundry, study nook and remote lockup garage. Upstairs, a light-filled open-plan living and dining area flows onto an oversized balcony — a major drawcard during inspections. 'The outdoor area really helped push the price,' Mr Rello said. 'It sat directly over the garage and was essentially the size of another living room. Buyers loved the idea of covering it in the future, subject to owners corp approval.' Mr Rello said the campaign was originally set to run four weeks but was shortened to three after a strong surge of early interest. 'We had over 50 inspections in just three weeks — 13 midweek groups and another 23 on Saturday in week one alone,' he said. 'With that sort of traction, we felt it was better to bring the auction forward and capitalise on the momentum. The seller made the call, and it paid off.' He said the decision helped capture rising buyer urgency across the market. 'Over the past month, we've seen a real shift. Buyers are more intentional, and if you don't act on that interest early, you risk losing them,' Mr Rello said. Despite the Reserve Bank holding steady this month, Mr Rello said expectations of a rate cut later this year were already influencing buyer behaviour. 'If you find something you like — go for it. Don't wait,' he said. 'Once interest rates drop, we'll likely see even more competition and pressure on stock. The smart buyers are getting in now, before that happens.'
