Scarborough top for local sales

This renovated character home in Scarborough attracted a lot of interest and sold in five days.
This renovated character home in Scarborough attracted a lot of interest and sold in five days.

SCARBOROUGH was the top performing local suburb in the four weeks to March 25, according to the latest data from Reiwa.

There were 33 sales in the area, which has something to offer a variety of buyers, from investors to first-home owners and trade up buyers.

Peard Scarborough sales associate Mandy Bizzaca said it was a popular location and there was demand for boutique development sites and character homes.

“Scarborough has a cosmopolitan feel, great infrastructure, mixed demographic, exceptional schools and remains a top destination for international and interstate events,” she said.

“We average five to eight groups through our weekend home opens, which is good volume in this market; in some cases a lot more.

“I recently sold a character home within five days of being on the market, with 48 groups through the home open and multiple offers – it says a lot about the demand to live in the area.”

Ms Bizzaca said it was a good time for buyers, particularly families looking to upsize.

“There hasn’t been a better market to buy in since 2013 and growing families are seizing the opportunity to find that forever home,” she said.

Ms Bizzaca there was a lot of interest in homes in the $500,000-$750,000 price bracket.

She said in general properties were selling quickly if positioned and presented well.

“Scarborough’s overall days on market is sitting at 64, but on average we are selling homes quicker, some in less than a week,” Ms Bizzaca said.

“This has a lot to do with the demand and how our properties are marketed, and more importantly how they are priced.”