AUTUMN 2020
COMO
MARKET UPDATE
In this issue Market Facts | Finance Update | What’s Sold What’s Selling | Words of Wisdom
WELCOME MARCH QTR With everyone left distancing and staying at home one would assume that sales would have slowed considerably.
Buyers are still out buying – using virtual tours, 3D tours, Facetime and WhatsApp showings then requesting a private viewing.
Not the case.
This will probably change the way properties are searched and viewed forever.
REIWA reported on 31 March that weekly sales were 603 down from 690 the week before and up from 469 the year before. We expect sales to reduce as isolation kicks in. After the hibernation we will return to another new normal-whatever that looks like.
On another topic, there’s nothing more comforting in these times of isolation as your own home. To have loved ones under your own roof and out of harms way is very comforting.
of security & well being that comes with owning your own home. Stay safe. As always, if you are thinking of buying or selling or would like a current market appraisal, please contact one of our area specialists.
Bob Menzies talked of housing as ‘MetaPhysical’- not just the physical nature of the house but the feeling
We just know that now is a sensational time for buying. For those with job stability jump in now!
MARKET FACTS (MAR QTR 2020) VOLUME OF SALES By Type HOUSES
18
UNITS
33
LAND
2
HOUSE SALES
162
53
SELLING
GONE
UNIT SALES
Highest Sale
$1,375,000
Highest Sale
$895,000
Lowest Sale
$580,000
Lowest Sale
$ 232,000
(Source Corelogic as at 08/04/2020)
FINANCE UPDATE BY GLEN AUSTEN - DIRECTOR - TAG FINANCIAL GROUP .Most of us have heard enough of the “unprecedented times” that we are in, so let’s look at the positives of the financial sector and what is going on in the big wide world that we are not allowed to physically explore anymore. The Government is helping those with mortgages to maintain them by offering various stimulus options. The banks are helping by pausing (not waiving) repayments for 3 to 6 months, dropping rates, and offering loans to SME’s to help them maintain their businesses. Most importantly though, the banks are still open for business and lending money. Yes they are being a bit more cautious and ensuring that they lend to those they feel are of less risk, but they are still lending money, and lots of loan applications are still being submitted and getting approved. The world hasn’t stopped. It’s just got a really bad cold and we are all working together to shake it. In the process the savvy buyers and sellers are using this opportunity to their advantage!
SOLD & SELLING (MAR 2020 QTR) Gone
1 / 5 Bruce Street COMO $610,000
Gone
3x2x2
Gone
Gone
3 / 28 Leonora Street COMO $460,000 2x1x2
Gone
4 / 222 Labourchere Road COMO $340,000 2x1x1
Selling
143a Coode Street COMO Contact Agent 4x3x3
1 / 361 Canning Highway COMO Offers Above $599,000 3 x 2 x 2
Selling
Selling
3 / 38 Gardner Street COMO Offers Above $999,000 4 x 3 x 2
Selling
49 Bruce Street COMO Contact Agent
2 / 39 Ednah Street COMO $590,000 3x1x2
5 / 28 Greenock Avenue COMO Offers Above $349,000 2x1x1
Selling
4x2x2
91 McDonald Street COMO Offers Above $1.099M 4x2x2
Gone
3 / 1 Eleanor Street COMO $385,000
2x1x2
Gone
64 Preston Street COMO Contact Agent
4x2x2
Selling
2 / 35 Comer Street COMO Offers Above $469,000 2 x 1 x 2
Selling
7 / 45 Gardner Street COMO $460K - $480K 3x1x2
Selling
91a Edgecumbe Street COMO Offers Above $569,000 2 x 1 x 2