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The lifting of the 112-day lockdown has been a boon for one Melbourne-based agent, who has recorded more than $20 million in property transactions in the last two weeks alone.
The Agency’s Sam Hobbs has sold five St Kilda homes in the last 14 days — totalling $20,275,000 — which he has attributed to people reconsidering their lifestyles post-lockdown.
It continues a solid run for the local agent, after he managed a whopping $13 million worth of sales over one week back in August — in the midst of the city’s stage 4 lockdown.
“The hard COVID-19 lockdown within Melbourne allowed people to reassess their accommodation, work and lifestyle requirements,” he explained.
“Suddenly, the large homes in St Kilda became incredibly desirable due to their capacity to combine living and work-from-home arrangements and proximity to the beach, Albert Park Lake and the flourishing food and bar scene.”
He said that prior to the pandemic’s onset, larger St Kilda homes had been less popular, but they are “now in high demand due to their size, value for money and location”.
According to a statement from The Agency, four of the five homes Mr Hobbs has sold in the past two weeks were on-market sales, with three attributable to out-of-area buyers.
Two of the properties (40 Dalgety Street and 15 Clyde Street) came onto the markets at the beginning of the month, while 65-67 Spenser Street and 24 Mitford Street spent far longer on the market.
Mr Hobbs revealed the Mitford Street property’s sale campaign was initially launched in January before being paused due to COVID-19.
After re-launching on-market on 1 October, Mr Hobbs said it received immediate interest, eventually going to a Toorak buyer who intends to use the space as a home and art studio.
The Spenser Street property first hit the market in July, but inspection restrictions prevented the buyer from purchasing the home earlier than 26 October.
With all five properties selling for between $3 million and $5 million, Mr Hobbs said the sales in quick succession “illustrate a strong demand for the St Kilda property market in this price category”.
Calling St Kilda “an exciting place”, the agent said that “now that people are so restricted in their travel, they want to be living in an exciting area”.
“It is also worth considering the impact of record-low interest rates and the uncertainty in the stock market as to why people are investing in property,” he commented.
“People are seeing value, particularly in larger homes or blocks, and view them as a safer option.”
For The Agency, the extraordinary results achieved by Mr Hobbs is attributable to both pent-up demand and the agent’s “expertise, knowledge and service”.
According to the network’s Victorian general manager, Peter Kakos, “a market like this requires sophisticated real estate agents who possess a tremendous amount of experience and patience in order to achieve these results”.
“Clients constantly reference Sam Hobbs as the agent who they love dealing with. He understands the market, he is down to earth and very real and relatable,” he concluded.
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.
