Mornington Peninsula private treaty listings get a hurry on: REIV
Houses offered for private sale are selling faster this year than last year especially in middle and outer Melbourne suburbs.
Two locations where the vendors were securing buyers much faster were the beachside suburbs of Mt Martha and Blairgowrie.
The REIV chief Enzo Raimondo said there have also been significant falls in the number of days properties required before sale in other suburbs, from western bayside Williamstown to Narre Warren in the outer east.
"There had been a particularly notable change on the Mornington Peninsula, made more accessible to Melbourne by the opening of Peninsula Link," Enzo Raimondo said.
"Three positions on the REIV's list of top 10 improvers were Peninsula suburbs: Mount Martha, Blairgowrie and Mount Eliza.
"Properties there took between 46 and 38 days less to sell in the first six months of this year, compared to 2013.
“While the focus this year has been on a stronger auction market, the table shows that the private sale market in a number of suburbs is also stronger this year,” Mr Raimondo said.
He added that private sales have traditionally been popular in outer suburbs, offering familiarity to local buyers.
“One of the features (of a private sale) is that it does not impose the time constraints – and immediate decision-making – that’s required at an auction,” he said.
Source: REIV.
* Number of days on market for private sales (houses)
** Difference (i.e. reduction) in number of days on market in 2014 compared to 2013.Slight differences can occur due to rounding.
