Three Wyndham suburbs have been listed in Victoria’s top areas for auctions sales last year.
The Real Estate Institute of Victoria (REIV) has released a list of the state’s hotspots for auction sales growth during 2017.
Sunbury topped the list with 189 auction sales in 2017 (compared to 23 the previous 12 months), which amounts to a 721 per cent growth.
Werribee was second with 263 auction sales last year (compared to 52 in 2016), an increase of 405 per cent.
Point Cook was third with a 183 per cent growth in auction sales, with 150 sales (compared to 53 the previous 12 months).
Hoppers Crossing placed fifth on the REIV list with 314 auction sales (118 in 2016), a 166 per cent growth.
During 2017, there were 225 real estate auctions held in Sunbury, 326 auctions in Werribee, 183 in Point Cook and 370 in Hoppers Crossing, with all areas recording clearances of more than 80 per cent.
Overall, there were 11,615 auctions in Melbourne’s outer suburbs last year, with 9025 resulting in a sale (compared to 8629 auctions and 6516 sales in 2016).
Hockingstuart Werribee senior sales consultant Samantha McCarthy said there was “still a strong demand” for homes within Werribee, Point Cook and Hoppers Crossing, “… largely due to affordability along with increased infrastructure and future infrastructure plans”.
“From what we can see so far and over the Christmas break, we can’t see it quietening down at this stage, we still see a shortage of homes and demand for property,” she said.
“I think auctions have become a favourable way to sell for vendors, it creates an open arena for buyers to compete in a transparent way and ultimately achieves the best possible sale price on the vendors’ terms.”
Ms McCarthy said other parts of Wyndham, including Tarneit, Truganina, Wyndham Vale, Manor Lakes and Williams Landing, were also popular with people looking to buy an affordable property.
“All areas are definitely still up there on the search criteria for buyers searching in the outer west,” she said.
