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A St Kilda real estate agent has recorded a mammoth $13 million in sales in just seven days, despite stage 4 lockdowns wreaking havoc across much of Melbourne City.
The Agency’s Sam Hobbs has chalked up the result to “extremely strong buyer demand for quality properties within inner-city Melbourne despite COVID-19 and its economic implications.
“There are smart buyers out there identifying the opportunity to upgrade at this time,” he said.
It’s a remarkable outcome, according to The Agency’s general manager in Victoria, Peter Kakos.
“These are some of the highest sales in St Kilda in the last 12 months, confirming his stature as St Kilda’s number one prestige agent,” Mr Kakos said.
“Sam is an exceptional agent. It’s his demeanor, patience, thoughtfulness and strategic thinking that culminate in extraordinary results for his clients.”
Mr Hobbs highlighted that the transactions were of three well-presented homes, all sold using different strategies: two of which were at the premium end of the market, while the other was a mid-tier family home.
The off-market sale of 5 Crimea Street, St Kilda, “took place over a couple of weeks”, with nine groups reviewing the property that resulted in four interested parties.
For 11 St Leonards Avenue, St Kilda, the sale was “quite a different sale”.
With the property first listed back in January, Mr Hobbs said the stage 4 restrictions had actually led to increased buyer interest and competition.
“Interestingly, I’m seeing quite a few upsizers deciding to purchase first, and sell their current properties later,” the agent commented.
He’s noted “a real focus on finding the right home, as this will be a longer-term property”.
He said the St Leonards Avenue and the 5 Crimea Street sales are evidence “of the increasing demand for high-end St Kilda real estate”.
From his perspective, “the buyer competition in the current market is more refined, in that the numbers may be lower but the buyers looking are highly qualified”.
The third sale, a mid-tier family home on St Kilda’s Havelock Street, “garnered so much attention it sold within four days on market”.
According to Mr Hobbs, the quick turnover is attributable to the fact the home was beautifully styled, held an accessible price point and reflected the limited amount of quality stock available on the market.
For Mr Kakos, the success despite stage 4 restrictions is “a real testament to Sam Hobbs’ abilities and service”.
But the obvious demand has also led the general manager to anticipate a strong selling season statewide.
“This all indicates pent-up buyer demand leading into our spring selling season, which will be compressed down from several months to two months,” he said.
ABOUT THE AUTHOR
Grace Ormsby
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.
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