Rising interest rates haven’t put off first homebuyers – realestate.com.au

Rising interest rates haven’t put off first homebuyers - realestate.com.au

Regardless of rising rates of interest and no indicators of the property market cooling, first homebuyers are going all out to get a house of their desires.

This was most obvious at a weekend public sale for a three-bedroom home in Modbury. Set again from the primary avenue, the trendy “designer” house at 5/2 Apalie Drive was an enormous hit with first homebuyers who drove the ultimate sale worth to $505,000.

5/2 Apalie Drive, Modbury.

In response to promoting agent Lawrence Cocca of Ray White who introduced the property to market with co-agent Stefan Siciliano, there have been six registered bidders for the public sale, 5 of whom positioned their bids.

“The seller has been dwelling there for 5 years and was on the lookout for an even bigger place. The client curiosity was all from first homebuyers and no buyers,” Mr Cocca stated.

“The house was fantastically introduced and the superb deck with an incredible outlook was an enormous draw as nicely.”

The deck was an enormous drawcard.

Overlooking lush greenery, the massive timber deck is the proper spot for Sunday soirees and enjoyable BBQ evenings.

Indoors the home has a free-flowing ground plan and the trendy kitchen comes with a protracted benchtop and breakfast bar. The bedrooms are positioned on the higher stage and boast walk-in/built-in robes. There’s additionally a examine nook and a light-filled sitting space to settle in with a ebook.

The house’s proximity to strolling trails, parks and the favored Tea Tree Plaza attracted patrons as nicely.

One of many three bedrooms.

The public sale was performed by Ray White SA chief auctioneer John Morris who stated auctions had been nonetheless going sturdy this spring. “It’s completely improbable to see 6.5 common registered bidders per public sale,” Mr Morris was quoted in Ray White’s weekly public sale report.

In response to REA information, the present median home worth in Modbury was $575,000. The suburb has recorded 31.3 per cent worth development over the past 12 months.

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