35% Increase in 15 Months!
A local investor has reaped a 35% increase in value on two shops bought in Mont Albert North 15 months earlier. The identical shops at 2A & 2B Milne Road which were bought for $800,000 in late 2015 were sold at auction this week for $1,080,000. Stephen Speck from Gorman Commercial, who marketed the property on both occasions, said, “The increased demand from owner occupiers triggered the significant jump in value. Three separate owner occupiers outbid investors and developers at the hotly contested auction, again reinforcing the high demand for vacant property from occupiers taking advantage of record low interest rates.”