“There Are No Buyers At Christmas”

The owners of a two-bedroom unit in Holland Park West have sold in a time frame that suited them despite advice it was the wrong time to find a buyer.

With a planned move prior to the new year, the apartment was going to be available to purchase in December. A decision had to made to leave the property vacant for a month or sell through a percieved “quiet time”.

Noting up to 8 in 10 apartments in Holland Park are being sold to owner-occupiers, the decision to present the property to it’s fullest potential was straight forward. Some minor renovations were completed including a bathroom update and internal painting. The Jeff Jones Style team moved a package of furniture in and presented a “ready to move in” home to potential buyers.

As one of a handful of properties put to market right before Christmas, the opportunity to capture the interest of the built-up buyer market from the last quarter of 2019 was obvious. The apartment looked amazing in the marketing campaign, and even better as you walked through the door.

With strong early interest, a conditional contract was negotiated inside 2 weeks. Unfortunately, the buyer’s intention to proceed with the contract changed. Fortunately, a strong engagement program with other potential buyers was in place during the contract period and further inspections were quickly arranged. A second contract was signed within 7 days, resulting in a finalised sale and settlement by the end of January.

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Holland Park West in 2019

Interesting facts

• There have been 17 recorded apartments transactions for 2019 (likely to rise slightly as sales in the last quarter are registered with DNR)

• Statistically, the medium price has risen 2.1% in 2019 across all residential properties

• Property transactions have remained steady, between 90 and 100 each year since 2013