Brunswick West apartment claims last weekend's most affordable Victorian sale

A two-bedroom Brunswick West apartment was last weekend’s most affordable sale in Victoria, selling for $300,000 according to Australian Property Monitors.  

Located at 3/608 Moreland Road, the apartment (pictured below) sold at auction on April 20 through Barry Plant Brunswick.

Jim Dandris of Barry Plant Brunswick told Property Observer that the unit was previously on the market at $292,000.  

There were about twenty people present at the auction, with two registered bidders, according to Dandris.  

Dandris said the successful bidder was an owner-occupier, who was likely to be a first-time homebuyer.

Based on Barry Plant’s estimated $275 rent a week, the price reflected a likely rental yield of 4.77%, slightly higher than the average rental yield in Brunswick West which currently stands at 4.1%.  

Dandris also told Property Observer the market in Brunswick West is “very good at the moment”, with first-time homebuyers and investors interested in the area.

According to the latest report by RP Data, the median sale price for units in Brunswick West is $387,500, up by 3.3% on last year. The average discount required to sell a unit in Brunswick West is 5.8%, while private treaty sales average 46 days on market.  

Other two-bedroom apartments for sale in Brunswick West include: 6/22 Whitby Street, listed for $369,000, and 12/380 Brunswick Road, listed for $345,000, both by Nelson Alexander Real Estate Brunswick.