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

Diane LeowDecember 7, 2020

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.

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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.    

Diane Leow

Diane has spent her entire career in the world of digital. She is passionate about delivering the best content to a world that is becoming increasingly jaded by the news. She also believes in the importance of great journalism and how it can change the world. Oh, she also drinks a lot of coffee.

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