SPRING 2018
COMO
MARKET UPDATE
In this issue Market Facts | Finance Update | What’s Sold What’s Selling | Words of Wisdom
WELCOME “There’s movement at the station” Now that the AFL season has ended (well), numbers through home opens are improving. Last weekend we saw 128 people through home opens compared to an average of 80 in September. 6 offers resulted last weekend. It’s now Christmas buying time. Buyers can buy, finance and settle before Christmas. They can have their Christmas tree up in their new home. By mid November, it starts to get difficult (if buyers need finance). On the finance front, many lenders are moving away from lending to Self Managed Super Funds. The time to obtain finance for this purpose has moved from 30 to 50 days. The good news is vacancy rates for rentals have dropped (Bourkes has 2%). This will result in rents starting to increase in 2019, attracting more investors into the market (with the prospect of capital gains again). Some tenants will do the
calculation that with rents increasing, it might now be the time to buy rather than pay rent. BOURKES PROJECTS Kevin Broughton (Bourkes Project Development Manager) has run several seminars for owners affected by zoning changes in the area. We have recently been appointed to market The Crescent on Bickley, lifestyle living for retirees, plus The Brixton - 36 apartments in East Victoria Park. As always, if you are thinking of buying or selling or would like a current market appraisal, please call me on 0406 320 938.
Tony de Graaf Sales Executive
MARKET FACTS (SEPT QTR 2018) VOLUME OF SALES By Type HOUSES
24
UNITS
35
LAND
4
HOUSE SALES
132
63
SELLING
GONE
UNIT SALES
Highest Sale
$1,725,000
Highest Sale
$1,180,000
Lowest Sale
$362,500
Lowest Sale
$280,000
(Source Corelogic as at 08/10/2018)
FINANCE UPDATE At its latest meeting on 2nd October, the RBA opted to leave the official cash rate on hold at 1.5%. This marks the twenty-fifth meeting in a row where the RBA has left rates unchanged, with the last rate change taking place in August 2016, a 25 basis point rate cut. Having said that, the trend is upwards with costs of finance rising.
SOLD & SELLING Gone
Gardner St COMO Contact Agent
Gone
4x2x2
Gone
South Tce COMO $520,000
4x1x1
5x3x3
Canning Hwy COMO $305,000
1/8 Leonora St COMO From $579,000
4x1x2
7/60 Gardner St COMO $474,000
2x1x1
98 Bessell Ave COMO $1,199,000
2x1x1
Comer St COMO $285,000
1x1x1
Selling
3x1x1
2/287 Canning Hwy COMO From $399,000 3x1x1
Selling
2x1x1
Selling
4x2x3
Gardner St COMO Contact Agent
Gone
Selling
Selling
49C Lockhart St COMO From $1,199,000
2x1x1
Selling
Selling
6/84 Comer St COMO $700,000’s
Gardner St COMO Contact Agent
Gone
Gone
Gone
Birdwood Ave COMO $620,000
(SEPT 2018 QTR)
7 Hamlin Rise COMO $965,000
4x2x2
Selling
4x2x2
410D Canning Hwy COMO From $449,000 2x1x2
Tony was outstanding from start to finish. His marketing strategy,
knowledge, communication and negotiation with the buyers was exemplary. He and enthusiastically to get our property sold in a difficult market.
“Tony was able to sell my house, obtain a good price and for this alone, I was happy. However the service he provided went above and beyond the service levels I expected. This makes him an excellent agent and I would recommend him without hesitation.”
Pam and Daniel Graves
Adrian Ong
worked tirelessly
“We have had multiple dealings with Agents over the years and as many of us know, there are some that are pushy, others are insipid, some we don’t ‘gel’ with and others that are full of it. Tony is like a breath of fresh air!! He is quite unique; professional, reliable, honest and personable! We highly recommend Tony’s services to anyone looking to buy or sell a property.” John Gull
If you are considering a move soon or would like to know what your property is worth in today’s market, please contact me at any time. Tony de Graaf SALES EXECUTIVE 0406 320 938 tony@bourkes.com.au If you’d prefer to receive this report by email, please email me your details.
Bourkes experience better
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