One of Victoria’s major property groups has posted “very promising” January results following a record-breaking 2014.
Barry Plant Group made 595 property sales in January. That represented a 7.2 per cent jump on the previous year.
The group increased its monthly sales volumes by 13.1 per cent to $277 million, while it enjoyed growth in its average sale price of $26,000 or 5.9 per cent.
Chief executive Mike McCarthy said the 80-office network had made a solid start to the year after booking a record $5.3 billion of sales in 2014.
“Industry sentiment is that it has generally been a quiet start to the year in real estate, so our January results are very promising,” Mr McCarthy said.
“It’s a positive sign moving into the first quarter and should give vendors more confidence if they are looking to sell.”
According to CoreLogic RP Data figures for January, Melbourne’s median house price reached $570,000 after posting annual growth of 7.8 per cent. Unit prices climbed 4.9 per cent to $462,000.
"The market was softer in regional Victoria, where house prices rose 3.0 per cent to $292,000, and unit prices rose 1.7 per cent to $243,000.
[Related: Barry Plant office speaks 26 languages]