If The Agency’s Sam Hobbs is anything to go by, the Melbourne property market has certainly bounced back since Stage 4 restrictions lifted across Melbourne earlier this month.
In the last two weeks, the lead agent has achieved an impressive sales benchmark, selling $20 million plus worth of property within the last two weeks.
The sales were comprised of five St Kilda homes, ranging from $3 million to $5 million in price, totalling $20,275,000.
This comes off the back of his $13 million St Kilda sales run, over a seven-day period, back in August.
“The hard COVID-19 lockdown within Melbourne allowed people to re-assess their accommodation, work and lifestyle requirements,” Mr Hobbs explained.
“Suddenly the large homes in St Kilda became incredibly desirable due to their capacity to combine living and work from home arrangements and proximity to the beach, Albert Park Lake and the flourishing food and bar scene.
“There is no question people are considering lifestyle changes, like regional migration or trying to consolidate their living and work environments into one.
“These factors have meant larger St Kilda homes, which experienced less
demand previously, are now in high demand due to their size, value for money and location.”
Four out of the five homes were on-market sales, three of which were sold to buyers moving into St Kilda from other areas.
The off-market sale was made to a family living a couple of suburbs away.
Mr Hobbs introduced a buyer who he knew loved the street to the home; the sale took a matter of days.
These five sales in quick succession illustrate a strong demand for the St Kilda property market in this price category.
“St Kilda is an exciting place and now that people are so restricted in their travel, they want to be living in an exciting area,” Mr Hobbs said.
”It is also worth considering the impact of record low interest rates and the
uncertainty in the stock market as to why people are investing in property. People are seeing value, particularly in larger homes or blocks, and view them as a safer option.”
Peter Kakos, The Agency’s Victorian General Manager, explained: “A market like this requires sophisticated real estate agents who possess a tremendous amount of experience and patience in order to achieve these results”.
“Clients constantly reference Sam Hobbs as the agent who they love dealing with. He understands the market, he is down to earth and very real and relatable.”
Note about Promoted Content: The promotion of this article has been paid for (‘promoted content’).