review
the
Issue 13
THE PLACES, SPACES & FACES OF YOUR COMMUNITY
FROM MAT TO SCREEN:
The story of Go Chlo Pilates
MEET LEOR SAMUEL:
INVESTING WISELY:
‘Some kids worked at McDonald’s. I worked the weekend markets.’
9 practical ways to add value to your home
FROM THE EDITOR
At Gary Peer, 2023 was one of our best years yet. But it didn’t come without its challenges. With the pressure of rising interest rates, we’ve all been feeling the heat. In fact, when I review the year, I don’t think I’ve ever worked so hard in my life! And this hard work meant it became so important to look after ourselves – mind, body and soul. Which is why this edition of The Peer Review is a feel-good galore. I’ve always firmly believed that you can achieve almost anything you want if you put your mind to it. And when your mind and body are healthy, it makes it so much easier. Our friend and cover story star, Chloe de Winter, would agree. That’s why she’s giving away a 12-month subscription to her business, Go Chlo Pilates, to TWO lucky The Peer Review readers! For us, our soul is our community. We find endless joy in supporting worthy organisations with our time, money, platform and… coffee vans! St Kilda PCYC – a local group dedicated to helping youth in need – is just one organisation we got behind this year. You can read all about them in this issue. (We’re also spilling the (coffee) beans on how our iconic coffee vans came to be.) And as always, we’re sharing the latest on all things Sales, New Projects and Property Management – in both English and Mandarin. Frankly, I couldn’t think of a better way to start the year. And just between the two of us, this issue of The Peer Review is my favourite one yet… in 2024.
Phillip Kingston Co-founder & Director
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In this issue Features
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Food, fun, fitness. We’re sharing all our top picks for delicious eats, good times and epic adventures in the area that has it all – Oakleigh and Hughesdale.
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Suburb Spy: Where to seek food, fun and fitness in Oakleigh and Hughesdale
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From mat to screen: The story of Go Chlo Pilates
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Investing wisely: 9 practical ways to add value to your home
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Helping youth in need: The story of St Kilda PCYC’s suburban safe haven
36
Meet Leor Samuel: ‘Some kids worked at McDonald’s. I worked the weekend markets.’
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Cold brews, warm hearts: The Gary Peer coffee van’s past, present and future
State of Play
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State of Play. Explore the latest market insights from our experts on the ground. Browse your suburb’s key property sales data – and its most beautiful homes.
20
Recent sales
22
Key data by suburb
24
Market updates
26
Property Management update
28
New Projects update
30
Asian market update
And to finish…
36
Meet Leor Samuel. From hobbies to holiday destinations, Carnegie director Leor Samuel’s early life was anything but ordinary. And he’s telling us all about it.
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What’s been happening at Gary Peer?
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Our people
All information was correct at the time of printing. Published by Gary Peer & Associates Pty Ltd. The State of Play data sourced in this report covers properties sold in the entire industry. Data is extracted from reiv.com.au with a date range of October to December 2023. © Copyright 2024
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SUBURB SPY:
Where to seek food, fun and fitness in Oakleigh and Hughesdale
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Wander 14 kilometres southeast of the CBD, and you’ll find Oakleigh and Hughesdale.
For the foodies
Nestled amongst the residential reverie of Murrumbeena and the sleepless spending sprees of Chadstone – Oakleigh and Hughesdale have noisy neighbours, but their own distinct identity.
Vanilla Lounge
And it’s Hellenic – with the suburbs’ shared Greek history having profoundly influenced the local food culture. So, where can you go for food in Oakleigh and Hughesdale? What should you order there? And, when you’re done, where can you go to work up a sweat – or kick your adrenaline levels up a notch? Let’s find out.
Greca Street
Between Eaton Mall in Oakleigh and Poath Road in Hughesdale, you’ll find some of Melbourne’s best – and most iconic – food.
There’s never a bad time to visit Vanilla Lounge on Eaton Mall. Be it for breakfast, lunch, dinner – or dessert! The hustle and bustle of the restaurant’s interior and outdoor spaces give it a distinctly European feel – right here in Melbourne. Operating for 15 years, Vanilla Lounge has become the place for events, including birthdays, christenings and weddings. Its moussaka and halloumi chips are a must. And you can’t leave without at least sampling its endless display of cakes and treats; sure to leave your mouth watering, and your stomach full.
Greca Street Authentic Greek food? Check. Contemporary and sleek ambience? Check. Drinks to wash it all down? Check! Found along Portman Street, Greca Street is the food child of owner Mike Horomidis, who has spent almost 40 years in hospitality, working on land and sea. From bars in Santorini to restaurants in Melbourne, Horomidis leaves behind a trail of flavour – and customers wanting more. Greca Street’s big menu means big plates (and even bigger flavour). Its grill platters are piled high with gyros, skewers and biftekia – and don’t forget the tzatziki, chips and pita! While its seafood platter – fresh from local vendors – even rivals the seasoned, sizzling meats coming out of the kitchen. Fancy a small bite, instead? No problem! With over 30 dips and bread, salads and mezze, you’ll have no issue satisfying any craving.
Vanilla Lounge
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SUBURB SPY
Hellenic Depot
Meat Me Souvlakeri
Smash Splash
TODCO (The Oakleigh Doughnut Co.)
Temperance Society
Meat Me Souvlakeri
Temperance Society
Oakleigh-based and family-owned, Meat Me Souvlakeri’s menu offers the best of a Greek feast.
Tucked into the corner of Kangaroo Road and Dalston Road, Temperance Society is the only place on our list away from Oakleigh and Hughesdale’s main streets and rows of restaurants.
With a lively and homely atmosphere, Meat Me is the perfect spot to get together with friends and family to celebrate or catch up – over some mouth-watering food. Aptly named, Meat Me’s souvlakis are a must. Whether you prefer pita and skewers or pita wraps, you can’t go wrong with its seasoned and flavourful meat.
TODCO (The Oakleigh Doughnut Co.) The Oakleigh Doughnut Co. recaptures brothers and founders Yani and Nic’s childhood memories of eating their grandmother’s sweet treats. (And located right outside Oakleigh Central, daubed in neon, you can’t miss it!) Social media worthy doughnuts (and an Instagrammable doughnut mural) bring a pop of fun to Oakleigh’s central business district. Our pick? The Bakladough. Taking inspiration from the eponymous dessert, this doughnut shares the same icing: topped with walnuts, pistachios and a filo pastry crumb. With over 20 doughnuts to choose from (and a sweet six for $30 deal), the Oakleigh Doughnut Co. is the perfect place to stop for a pick-me-up.
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But don’t be deceived by its (slightly) more remote location. Temperance Society packs a punch with its savoury selections, sure to impress even the most critical of Melbourne’s self-proclaimed foodies. For our sweet tooths out there, we’d recommend The Parisian. It’s a tower of French toast covered in vanilla mascarpone, bejewelled with fruits and chocolate, and drizzled with butterscotch sauce to finish. Bon appétit!
Hellenic Depot Right outside Hughesdale Station, along Poath Road, Hellenic Depot sits amid a cluster of well-established local businesses and restaurants. Offering a casual and laid-back dining experience, Hellenic Depot’s drink menu serves up a wide range of Greek wines – and a stirring selection of cocktails. Patrons boast about the gyro plate for two, or the mixed seafood platter big enough to feed a crowd. Oh – and don’t forget the saganaki and mixed dips on the side!
WHERE TO SEEK FOOD, FUN AND FITNESS IN OAKLEIGH AND HUGHESDALE
Oakleigh Indoor Sports
Oakleigh Ice Skating Centre
For the thrill seekers
For the fitness fanatics
Oakleigh and Hughesdale’s food scene is one of a kind – but there’s so much more on offer.
Sometimes, all you need is to hit the field (or in this case, the rink!) with your mates. Rest assured, Oakleigh and Hughesdale have you covered – whether you’re hitting the ice or a penalty shootout.
So let’s dive into Melbourne’s newest and most unique experiences for you to solve, smash and splash your way through in the 3166 postcode.
escapeXperience Feel like putting your teamwork to the test? How about solving a mystery? Right in front of Oakleigh Centre, escapeXperience lets you do both: immersing you in thoughtfully planned escape rooms filled with intrigue, riddles and secrets. With three different experiences on offer, bring your friends, family or colleagues together as you try to solve the mysteries of Burlesque, Amnesia or Clockwork…
Oakleigh Indoor Sports Squeezing in some time with your friends? How about some healthy competition? Or even the little one’s birthday party? Oakleigh Indoor Sports has it all. Choose from soccer, cricket, beach volleyball or netball. With mixed teams to test your friends and family’s skills, there are plenty of opportunities to have fun, get fit – and enjoy some friendly competition. With Inflatable World, the little ones will love it too. Bouncing, jumping and sliding into their next birthday party… what’s not to like?
… before time runs out!
Smash Splash Putting a devious spin on your typical ‘break room’, Smash Splash gives you the chance to smash, splash or crash your way through your next party or team-building event. How it works is simple. Walk into the room. Pick a baseball bat, sledgehammer or golf club. Then, start (safely!) causing some chaos and demolition. Looking for something less destructive? The Splash Room is a colourful alternative to painting the town red. Trade your baseball bat for a brush or balloon and have fun creating a work of art! Last but not least? The Crash Room – Smash Splash’s newest invention. Slap on sumo suits and race against your friends as you try to shoot hoops, capture the flag and find the notorious ‘mystery ball’. Good luck!
Olympic Ice Skating Centre Why avoid the cold this winter – when you can seek it out instead? Throw on your skates and head to the Olympic Ice Skating Centre. Take lessons, skate with family and friends or host your own birthday or team-building event. Looking for a new sport this winter? Ice hockey or figure skating might just be your route to becoming Australia’s next sports superstar.
Already tried these Oakleigh and Hughesdale top spots – or want to recommend another? Have your say! THE PEER REVIEW
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FROM MAT TO SCREEN:
The story of Go Chlo Pilates
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Engage your core, lengthen through your spine, focus on your breath. It’s not what most of us say during our typical 9–5. But for Chloe de Winter, work is far from typical.
It all began with some live Zoom classes – and we started with a bang. Sixty people came to my first-ever class!
A Melburnian turned New Yorker, Chloe’s career in Pilates instructing was just taking off – before COVID came along and brought everything back to ground. So, back in Melbourne, crashing with her parents and brainstorming with her husband, Chloe sat on her computer and asked herself,‘How can I keep working with my passion during a pandemic?’ And that’s when she realised, the answer was right in front of her.
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FROM MAT TO SCREEN
The beautiful thing about Pilates is that anyone can do it, whatever their fitness level. It’s all about making you feel good in your own body.
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THE STORY OF GO CHLO PILATES
Lunging through the lockdown Not to bring up the ‘C’ word, but life before COVID looked very different for Chloe. ‘After completing my Master of Physiotherapy Practice and Bachelor of Health Science in 2014, I was a Pilates instructor in New York. And then COVID hit,’ Chloe explains, shaking her head at the all-too-relatable tale. ‘I lost my job, so I had no choice but to move back to Melbourne.’ Questions of ‘What now?’, ‘What next?’ and ‘What will I do?’ quickly followed. Desperate to recover her income, Chloe came up with an idea. Call it a moment of panic – or a stroke of genius – but at the beginning of 2020 and the height of lockdown, Chloe launched Go Chlo Pilates. ‘It all began with some live Zoom classes,’ Chloe says. ‘And we started with a bang. Sixty people came to my first-ever class!’ ‘Everyone jumped on board,’ Chloe reminisces. ‘It was exciting, it was new, and it was a way for people to move when the gyms were closed and we were only allowed outdoors for an hour a day.’ What’s more? It was a way to move your mind.
More than a workout Building strength and control through all the muscles in the body (including the ones you didn’t even know you had), Pilates is inclusive in more ways than one. ‘The beautiful thing about Pilates is that anyone can do it, whatever their fitness level,’ Chloe says. ‘It’s all about making you feel good in your own body. Improving the way you walk, the way you stand, the way you move – even the way you think.’
Essentially, Pilates is a gentler way of doing weights. It’s strength training, core training, flexibility training and mental training – all in one. Think about it. If you’re concentrating on your breath, your body and the burn making its way through your muscles (in a good way, of course), it’s hard to think about anything else! ‘That’s what I love about exercise,’ Chloe says. ‘It creates this safe space where you can do something just for you, and leave whatever is going on in your life at the door.’ And the best thing about Pilates? ‘You can’t be bad at it!’ Chloe assures. ‘As long as you feel good, you’re doing it right.’
The new business balancing act The problem with COVID-born businesses? Adapting to a post-COVID world, or at least, post-lockdown. ‘After staying at home for so long, people started to get Zoom fatigue, home fatigue – and just a general need for face-to-face connection,’ Chloe says. ‘I knew I needed to change my business model, so I decided to create an online platform – knowing it was going to take a lot of time, money and energy to make it work.’ Was she confident from the start? ‘Not at all!’ Chloe laughs. ‘I was very scared. I remember saying to my husband, Phil, the night before we launched that I didn’t know if anyone would subscribe,’ says Chloe, with a nostalgic smile on her face. But they did. And over time, under this new-look Go Chlo Pilates, the Zoom classes phased out altogether. ‘It just wasn’t what people wanted anymore,’ Chloe explains. ‘And that’s the main lesson I’ve learned in business – listen to what the people want, and let it guide you.’ THE PEER REVIEW
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FROM MAT TO SCREEN
Image: Giddy Heine
Train like a girl Let’s rewind time to gym culture in the early 2000s. Are you seeing all the flashes of Men’s Health magazine, male bodybuilding and stereotypical ‘gym bros’, too? And while there isn’t anything wrong with those things, there also isn’t anywhere near as much representation of women in fitness. Luckily today, things have changed. ‘It’s the perfect time for women in fitness right now,’ Chloe affirms. ‘We’re respected and listened to, and the fitness forms that may have been dominated by a specific sex before are becoming more gender neutral.’ Weightlifting, yoga, boxing, Pilates – these activities are for everyone. And they always have been.
Going further with Go Chlo Today, Go Chlo Pilates is a subscription platform with a library of video classes that’s updated each week. With over 300 videos to select from, Go Chlo subscribers can choose the best workout for them. With their available time, equipment and fitness level in mind. ‘Most of the feedback I receive is about how this platform has changed people’s lives,’ Chloe explains. ‘I have clients from all over the world tell me how having the choice about when, where and how they exercise has finally allowed them to actually do it. 12
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THE STORY OF GO CHLO PILATES
WIN A YEAR OF
GO CHLO PILATES
‘It makes them feel better about themselves. They look forward to doing something that’s not only good for them – but that they truly enjoy.’ Moving forward, Chloe plans on continuing to help people find that confidence within themselves through Go Chlo Pilates – as well as her other business, Nala (an underwear brand she founded with her husband).
Image: Giddy Heine
& A WILD MINGO WORKOUT MAT
2
prize packs to give away!
Both businesses were built for the same reason: helping people feel comfortable in their own skin.
Some words of fitspo The hardest part about living an active lifestyle? Getting started. ‘Finding the motivation to take that first step is always the most challenging part of your fitness journey,’ Chloe says. ‘But if you enjoy the exercise, you’ll keep doing it! So try out all different forms of movement until you find what you like.’ ‘And don’t let any intimidation you may feel about going to the gym stop you from meeting your fitness goals,’ she encourages. ‘You can formulate a professional-grade workout from home using only your body weight.’ Plus, there’s a world of online workouts right at your fingertips. ‘I’ve always found gym spaces to be incredibly welcoming, but you have to feel comfortable if you really want to make the most of your workout,’ says Chloe. ‘So, if all else fails, you can always do my online classes where no one is watching!’
Ready to start your Pilates journey? Sign up with Go Chlo today!
Image: Liane Hurvitz
To enter, tell us what you love about The Peer Review and why you’d like to win. Scan the QR for terms and conditions
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INVESTING WISELY:
9 practical ways to add value to your home
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Are you preparing your home for sale and wondering how to maximise its value – and ultimate selling price? Or perhaps you’re simply looking for ways to make your home feel bigger, brighter and altogether better? Either way, we’ve got good news: upgrading your home doesn’t have to mean spending months on expensive renovations and replacements. Read on to discover some practical solutions that will add instant appeal to your home.
2. Enhance your garden and curb First impressions matter. And when people (or, more importantly, potential buyers) visit your home, the exterior is naturally the first thing they’ll see. Your driveway. Front lawn. Garden. Together, these make up your ‘curb appeal’ – the attractiveness of your home from the sidewalk.
1. Begin with a fresh coat of paint Have you noticed areas of faded or cracked paint across your home? If so, we highly recommend a fresh coat of paint – the most accessible and cost-effective home improvement you can make. It will immediately brighten up your living spaces. Consider your colour choices carefully. Neutral colours are timeless and will attract a wider range of potential buyers. For those with a bigger budget: Hire professional painters for a flawless finish.
You have many options to elevate your curb appeal and make it suitable to your home’s style and budget. Some easy DIY tasks include weeding, repainting your mailbox, adding an address sign and house numbers, and maintaining a well-kept lawn. For an even more personal touch, you could add furniture like a bench or a firepit, or install some solar outdoor lighting. And who doesn’t love a good garden moment? Exercising your green thumb will improve your front lawn’s visual appeal. Our top picks for some year-round colour? Sunflowers, marigolds and coneflowers. For those with a bigger budget: Consider hardscape elements like a paved pathway, a deck or a patio.
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INVESTING WISELY
3. Update your kitchen appliances
5. Upgrade bathroom elements
Got an oven that emits strange smells? A dishwasher that keeps clicking, clanking and clogging when it probably shouldn’t? Those appliances should head to the top of your repair list.
There are several ways to keep your bathroom upgrades shining and cost-effective. You don’t have to do it all – one or two considered changes can make a big difference.
But if they’re very old and can’t be repaired, then it’s simply time to upgrade. Worn appliances can make the entire space look dated (even if the rest of the kitchen is modern). Alternatively, if you’re after an even faster aesthetic upgrade, change up the backsplash. It’ll give your kitchen a new, budget-friendly personality. For those with a bigger budget: Install a kitchen island or a walk-in pantry. Extra entertainment or storage space is highly valuable.
4. Refresh your flooring Time to walk the walk – on new and improved flooring. If you have carpets, invest in professional carpet cleaning. If you have laminate floors, clean them with a dedicated floor cleaner. Alternatively, add an extra layer of sealant to protect it from dings and dents. Or add a coat of fresh paint (yes, you can paint some laminate floors). If you have hardwood floors, get a professional to sand and refinish them. You can even choose a different wood stain while you’re at it. And if you don’t want to invest in any new flooring materials? At least go in with some tile grout cleaner to remove any dust and grime. For those with a bigger budget: Install hardwood flooring if you don’t have it already. It’s modern, durable – and aesthetically pleasing. Plus, you can customise it to match the rest of your home with different types of woods and finishes. 16
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Swap out old or rusty faucets, showerheads, towel racks and cabinet hardware. Replacing them with more modern fixtures will elevate the bathroom’s style and functionality. And again, fresh paint, clean tiles and gleaming grout will go a long way in enhancing the visual appeal. For those with a bigger budget: Replace the vanity or sink to increase storage space. Or, if you have the room, add a second sink.
6. Boost your energy efficiency An energy-efficient home will heavily appeal to ecoconscious and budget-savvy buyers. And if you’re not selling, it’ll keep your bills down. Investing in proper insulation throughout your home will reduce your heating and cooling costs. It’ll keep you warmer in the winter. And even cooler in the summer. Although it requires an upfront spend, it’s the single most cost-effective way to remain energy-efficient in the long term. For those with a bigger budget: Upgrade to a smart thermostat. Precise temperature control from your phone and lower electricity bills? Yes, please! (Just ensure your home’s HVAC and electrical system are compatible with it, first.)
7. Integrate smart home technology Not all smart home technology devices will work for your home and lifestyle needs, but there are a few you could consider.
9 PRACTICAL WAYS TO ADD VALUE TO YOUR HOME
Everyone wants peace of mind. Upgrading to a smart security system with locks and doorbell cameras will provide that sense of security – and convenience. Or consider smart lighting. You can customise it from your phone, creating a mood-lighting ambience for entertaining guests (or just binging the latest Netflix show). For those with a bigger budget: Look into creating a comprehensive smart home system. Beyond individual devices, you can connect multiple aspects of your home from one central platform.
8. Maximise storage space An extra cabinet in the laundry room. A locker system in the entryway. Extra shelving in the kitchen. More hooks and racks in wardrobes, cupboards and the back of doors. You (or your potential buyers) will love these extra storage hacks. No more Tetris with all those bedsheets, towels and toys! For those with a bigger budget: Elevate your wardrobes – get them pushed back and fitted out by a professional with extra hanging bars and drawers. Or if you have a garage, look into space-efficient storage like ceiling tub storage units.
9. Establish an additional bedroom Home buyers love nothing more than an extra space – for whatever they imagine. It could be a spare bedroom, a play area or a home office. But how do you create one? One idea? You could convert and furnish an underutilised space, like an attic or basement. Or you could add a wall into a living space to section off a brand-new room. On a smaller scale, you could use partitions like folding screens or curtains to visually divide the space, making it more multipurpose. For those with a bigger budget: If you have the space and resources, consider building a standalone granny flat.
Got any other home improvement hacks to add to the list? Have your say!
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Q4 2023
STATE OF PLAY
What’s inside 20
Recent sales
22
Key data by suburb
24
Market updates
26
Property Management update
28
New Projects update
30
Asian market update
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STATE OF PLAY
Recent sales
View more recent sales
9A Lynedoch Avenue, St Kilda East Sold at auction
8 James Crescent, Hampton Sold with mutiple bidders
19A Wimmera Street, Ormond Sold at auction with 7 bidders
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5 Spark Street, Murrumbeena Sold before auction
1-4/82 Hawthorn Road, Caulfield North Iconic apartment block sold
8 Kean Street, Caulfield South Sold at auction with multiple bidders
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Loved it Bought it
4 Huntley Street, Brighton Sold at auction with 4 bidders 4
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Q4 2023
Loved it Bought it
50 Charles Street, Brighton East Sold at auction with multiple bidders
18 Armadale Street, Armadale Sold at auction with multiple bidders
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1-4/392-394 Dandenong Road, Caulfield North Apartment block sold at auction for $3,010,000 with 3 bidders
27 Augusta Street, Glen Huntly Sold for $2,685,000
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4 Allfrey Street, Brighton East Sold off market for $3,285,000 4
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47 Parkmore Road, Bentleigh East Sold at auction for $1,790,000 with 3 bidders 4
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STATE OF PLAY
Key data by suburb
For more suburb statistics visit our website
Source: The data in this report covers properties sold by the entire industry. It is extracted from reiv.com.au with a date range of October to December 2023. Some suburbs may not have any statistics due to insufficient data.
Balaclava Clearance rate
50%
Bentleigh
Av. days on market
Properties sold
42
40
Clearance rate
80%
Av. days on market
42
HOUSES
UNITS
Median sale price
$1.43m
$575k
Median sale price
Quarterly price change
-9.9%*
-3.8%
Quarterly price change
Median rent
$775pw
$480pw
Rental yield
2.7%
4.2%
Median sale price
85
HOUSES
UNITS
$2.3m
$1.51m
41
Properties sold
169
UNITS
HOUSES
UNITS
Median sale price
$1.41m
$1.25m
2.7%
-16.5%
Quarterly price change
-3.5%
-3.5%
Median rent
$700pw
$595pw
Median rent
$650pw
$750pw
Rental yield
2.2%
3.3%
Rental yield
2.4%
3.1%
Clearance rate
41
77%
Av. days on market
$877k
Clearance rate
69%
105
Clearance rate
$1.71m
Carnegie
Properties sold
Properties sold
HOUSES
Brighton East Av. days on market
Bentleigh East
71%
Caulfield
Av. days on market
43
Median sale price Quarterly price change
Properties sold
107
Clearance rate
68%
Av. days on market
n/a
HOUSES
UNITS
$1.45m
$663k
Median sale price Quarterly price change
Properties sold
21
HOUSES
UNITS
$1.99m
$725k
Quarterly price change
-10.9%
14.1%
-14.7%
10.5%
-1.5%*
-28.9%
Median rent
$925pw
$695pw
Median rent
$700pw
$480pw
Median rent
$895pw
$500pw
Rental yield
2%
2.7%
Rental yield
2.2%
4%
Rental yield
2.3%
3%
Caulfield North
Caulfield South
Elsternwick
Clearance rate
Clearance rate
Clearance rate
71%
Av. days on market
41
Properties sold
98
79%
Av. days on market
41
HOUSES
UNITS
Median sale price
$2.14m
$803k
Median sale price
Quarterly price change
-16.9%
22.5%
Quarterly price change
Median rent
$850pw
$550pw
Rental yield
1.8%
4.4%
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Properties sold
58
HOUSES
UNITS
$1.72m
$772k
-16%
1.2%
Median rent
$760pw
$575pw
Rental yield
2.1%
3.6%
75%
Av. days on market
33
Properties sold
69
HOUSES
UNITS
Median sale price
$2.00m
$640k
Quarterly price change
-19.6%
4.9%
Median rent
$895pw
$500pw
Rental yield
2.2%
4.1%
Q4 2023
Clearance rate
66%
Hughesdale
Glen Huntly
Elwood Av. days on market
Properties sold
38
Median sale price Quarterly price change
143
Clearance rate
61%
Av. days on market
45
HOUSES
UNITS
$2.11m
$715k
Median sale price Quarterly price change
Properties sold
35
Clearance rate
84%
Av. days on market
Properties sold
52
HOUSES
UNITS
$1.73m
$555k
Median sale price Quarterly price change
53
HOUSES
UNITS
$1.44m
$748k
-4.5%
5.1%
6.8%*
-27.5%
-4.6%*
-3.2%
Median rent
$950pw
$500pw
Median rent
$760pw
$470pw
Median rent
$680pw
$530pw
Rental yield
2.2%
3.8%
Rental yield
2.3%
4%
Rental yield
2.5%
3.6%
Clearance rate
52%
Av. days on market
Properties sold
40
Moorabbin
McKinnonast
Malvern East 90
Clearance rate
82%
Av. days on market
46
Properties sold
35
HOUSES
UNITS
HOUSES
UNITS
$2.28m
$631k
Median sale price
$2.16m
$927k
9%
27.4%
Quarterly price change
14.9%
1.9%
Median rent
$800pw
$500pw
Median rent
$775pw
$595pw
Rental yield
2%
4.4%
Rental yield
2.1%
3.3%
Median sale price Quarterly price change
Murrumbeena
Oakleigh
Clearance rate
Clearance rate
76%
Av. days on market
41
Median sale price Quarterly price change
Properties sold
62
84%
43
UNITS
$1.67m
$700k
Median sale price Quarterly price change
79%
Av. days on market
Properties sold
43
39
HOUSES
UNITS
$1.33m
$655k
0.9%
-32.5%
Median rent
$640pw
$548pw
Rental yield
2.6%
3.5%
Median sale price Quarterly price change
Ormond
Av. days on market
HOUSES
Clearance rate
Properties sold
44
HOUSES
UNITS
$1.38m
$448k
Clearance rate
70%
Av. days on market
Properties sold
40
Median sale price
HOUSES
UNITS
$1.82m
$591k
-4.1%
24.6%
-5.4%
-10%
-9.5%
2.7%
Median rent
$725pw
$420pw
Median rent
$598pw
$510pw
Median rent
$750pw
$465pw
Rental yield
2.2%
3.6%
Rental yield
2.3%
5.3%
Rental yield
2.1%
3.8%
St Kilda East
St Kilda Clearance rate
55%
Av. days on market
35
Properties sold
187
HOUSES
UNITS
Median sale price
$1.71m
$600k
Quarterly price change
16.6%
14.5%
Median rent
$830pw
Rental yield
2.7%
Clearance rate
79%
Av. days on market
47
Quarterly price change
39
St Kilda West Properties sold
88
HOUSES
UNITS
Median sale price
$1.53m
$627k
Quarterly price change
-24.3%
3.6%
$475pw
Median rent
$775pw
$480pw
4.5%
Rental yield
2.5%
4.1%
Clearance rate
53%
Av. days on market
Properties sold
32
27
HOUSES
UNITS
Median sale price
$2.65m
$570k
Quarterly price change
19.2%*
25.3%
Median rent
n/a
$450pw
Rental yield
n/a
4.7%
* Annual price change
THE PEER REVIEW
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23
STATE OF PLAY
Market updates from your local property experts
Jeremy Rosens, Leon Gouzenfiter, Leor Samuel and Gary Peer offer their latest takes on southeast Melbourne’s property market.
What’s happening in the market?
Find out which properties are in vogue across the Glen Eira and Bayside areas. Explore last quarter’s standout sales. And keep your finger on the pulse of what’s selling in the streets you call home.
LEON: LEON: There’s also been a lot of investment-grade stock coming to market. Due to compliance and tax issues, more people are selling off their investment properties. And given other investors aren’t buying back in, it means we’re selling a lot of apartments to first-home buyers.
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JEREMY: JEREMY:
True to form, the spring market was very much on show this year. We had a light beginning to the year, where the stock was certainly at a pinch. But as we made our way into deep spring, we saw a big shift with more properties coming to market. However, interest rates rose yet again. This means we have double the stock – with the same number of buyers. All these properties will sell, but may spend more days on the market.
LEOR: LEOR: Regarding pricing, we’re not seeing as many ‘volcano’ or ‘runaway’ auctions, unless the property is an absolute standout. That said, we’re still transacting at fair market value – even with some vendors holding onto stronger precedent prices. GARY: GARY: We’re seeing more apartment blocks coming to
market than usual, often facing less competition than they have in the past. Several owners are choosing to sell separately rather than as a block, in some instances resulting in a more favourable commercial outcome.
Q4 2023
GARY PEER
LEON GOUZENFITER
LEOR SAMUEL
JEREMY ROSENS
Co-founder, Director 0414 532 778
Director, Bentleigh 0422 339 791
Director, Carnegie 0413 079 255
Director, St Kilda 0413 837 723
Overall, with interest rate increases, buyers lost confidence for a while. But December turned that all around, with the strong clearance rates and competition for listings we’ve come to expect well and truly back on track.
What properties are in the hottest demand? GARY: Buyers still have a strong appetite for homes at the prestige end of the market. And with it, a much greater willingness to purchase almost perfect homes that they can renovate or improve down the track, rather than go through the long and expensive building process. LEON: LEON: Generational homes, especially in the McKinnon school zone, are still selling at near-record prices. Brighton East also had a significantly strong quarter for family homes, with the $3-3.5 million market particularly popular.
JEREMY: JEREMY:
But at the top of the list of in-demand properties, renovated homes and side-by-side townhouses are still sitting pretty. And we expect it to stay that way for some time.
LEOR: LEOR: The beginning of 2024 through to Easter looks particularly exciting with some hot stock coming to market. We know the buyers are out there – so watch this space! LEON: LEON: Some people are predicting a rate cut anywhere from May to November with the low levels of unemployment and increased immigration. This could fuel the start of the next market hike.
But 2024 will depend heavily on February and March, with some vendors potentially holding off if they see the market slowing down. If they do, we’ll see stock levels balance out with the price strength continuing. GARY: GARY: Upon reflection, the second half of 2023 was far
stronger than the first. Our agency is starting 2024 with approximately 40% more listings than it did last year. With everything we know 2024 has in store – and everything we don’t – we’re looking forward to seeing if the price levels of 2023 are maintained, or if they’re set to kick on to another level.
What’ve been this quarter’s standout sales? LEON: LEON:
For us, it’s hard to look past 50 Charles Street, Brighton East. The auction for this beautiful four-bedroom home was very competitive. And in the same neighbourhood, 4 Allfrey Street was another of Brighton East’s best – selling for $3.28 million via an expression of interest. JEREMY: JEREMY:
We had some eastern wonders this quarter as well. Namely, 47 Milburn Grove in St Kilda East, which sold at auction after a tough bidding war between five buyers. This one came to an incredibly exciting – and happy – ending for all involved.
Thinking of selling your home? Contact your local Gary Peer & Associates agent today for an appraisal.
LEOR: LEOR: My personal favourite this quarter would have to be 1/4 Eleebana Avenue, Hughesdale. A more cinematic event than usual, this house sold for $1.19 million after a threebidder battle during its mid-week twilight auction.
And, as a welcome to the newly-built Glen Huntly train station – conveniently positioned right around the corner – it was exciting to see 24a Rothschild Street sell after auction.
What are you most excited about in 2024? JEREMY: JEREMY:
Well, we’re looking forward to no more interest rate rises so buyers can fully enjoy all the great stock that will be coming to market!
THE PEER REVIEW
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25
STATE OF PLAY
Property Management update The key takeaway from 2023? Don’t base a long-term decision on a short-term problem.
It’s no secret that the property management landscape changed significantly between 2020 and 2023. From COVID relief to heavily discounted rents to new compliance laws – not to mention the new imposed taxes and increased interest rates – our clients have never had to spend so much in such a short time. As a result, many investors are leaving the market, seeing a mass exit of rental providers (landlords) who seem to be scrambling to sell. Our advice? Don’t make a long-term decision on a shortterm problem. Rents are recovering. Vacancies are quickly being absorbed. And the market is probably the best it’s been for two to three years. All this to say, last year’s biggest problems are now in the rearview mirror. After all that hard work in 2023, your property is likely compliant now. So from now on, you’ve got an in-demand, attractive property on your hands, a happy tenant and a far
JENNY CAUGHEY
ANTHONY LEE
Branch Manager, Property Management Division 03 9526 1918
Branch Manager, Property Management Division 0418 350 414
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less need to spend money on anything but maintenance – and the new land tax / COVID levy of 2024. This new tax will come into effect from 1 July 2024 and will take some getting used to. But remember: its purpose is to pay back the COVID levy. We believe that once property owners understand the amounts payable and how to pay it, we will see a much more settled second half of 2024. On a separate note, we have some more good news coming in from VCAT. Many of the historical cases from COVID times are set to settle this year – bringing a welcome closure to all involved. So hold your nerve. There are calmer waters ahead. But that’s not to say 2023 was a bad year! In its final quarter, many of our clients achieved great results when they invested in their properties. After renovating, improving and then putting their properties back onto the rental market, they saw significant increases in their returns. So, as we settle into the new year, ask yourself this: what is the cost of assurance? By holding firm in your rental and trusting your property manager, you can rest assured that your property is well looked after – while you continue to enjoy a stable income. Meanwhile, you’ll be providing a home for a tenant who will take pride in your property and work with you to make it even better. And the team at Gary Peer will be right here to support you, every step of the way.
Looking for an experienced and engaged team to manage your investment? We treat your property like it’s our own.
Q4 2023
A CONVERSATION WITH
Mairead Gaffney, Operations Manager 0448 111 082
How has your career evolved since it first began? I’ve been in property management for almost nine years – eight of which I’ve spent with Gary Peer. Starting as an assistant, I slowly but surely climbed the property management ladder to team leader – and then to my current role as operations manager. With each step affirming my passion for the industry all over again.
What do you love about working at Gary Peer? Gary Peer isn’t just a workplace; it’s a community. I’m surrounded by a team who genuinely cares for their clients, while also possessing a deep understanding of the ever-evolving property management landscape. We support and encourage each other, and strongly believe in collaboration breeding innovation. Which means we get the job done – together.
Do you draw on any previous life experience to help you in your role? I moved to Australia – all the way from Ireland – 17 years ago. And after seeing all the incredible things Melbourne and Victoria have to offer, I settled here in Bayside. It’s easy to be passionate about this industry in such an amazing city! I also have a business degree and a background in hospitality management. Both these experiences have helped me immensely in my career – especially in delivering exceptional customer service and understanding the importance of effective communication.
What would you say to any landlords out there looking for new property management? Go with a team that knows what they’re doing, understands the market and values transparent communication. At the Gary Peer office, we have centuries of experience between us all – and prioritise keeping our landlords informed every step of the way.
You’re known to be an incredible problem solver. What’s the best way to approach an issue? Property management is such a dynamic field, which makes challenges inevitable. But it’s important to identify the real issue behind the challenge – and have clear communication around how to resolve it. So, focus on the why. That way, you can get to the root of the problem – and the solution – much more quickly.
THE PEER REVIEW
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27
STATE OF PLAY
New Projects update Builder appointed, construction started
Burton Place – a limited-edition enclave of eight spacious, luxurious townhomes set in the heart of Ashburton
JULIAN MILLMAN
PHILLIP KINGSTON
RAFI JOFFE
JACOB KINGSTON
KANE NISSENBAUM
Director 0412 713 121
Co-founder, Director 0414 353 547
Senior Sales Consultant & Residential Development Specialist 0419 387 006
Licensed Estate Agent 0401 631 550
Sales Consultant 0401 572 744
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Q4 2023
When we look back on 2023, one word comes to mind: BIG! We had many big projects. We worked with several big developers. And we began planning for an even bigger 2024. But that’s not to say that when it came to the properties, bigger is better. In fact, in Q4 2023, we continued with the year’s trend of dealing predominantly with ‘right-sizers’ – people looking for a lovely, new, three-to-four-bedroom townhouse or apartment to settle into. For example, ‘Caulfield North’ is one of our most exciting projects in the pipeline. A number of luxury apartments on Balaclava Road, many of these in-demand properties have sold pre-market. Launching in the first quarter of this year, these are sure to go – fast! Another one to watch is Burton Place – a limited-edition enclave of eight spacious, luxurious townhouses in the heart of Ashburton. With the builder appointed and construction already underway, we’re incredibly excited to see this one take shape in the coming months. And so are the many successful buyers who can already call Burton Place their new home.
This momentum will carry through the remainder of the year. With quality development partners and more exciting projects in the wings, we will continue to provide the best opportunities for our buyers – because we know we’re supported by the best clientele in Melbourne. So, thank you all for coming along for the ride in 2023. We promise to bring even more beautiful projects to market this year. And if you want to be the first to hear about what’s on offer, book an appointment at our Balaclava Road office or call us any time.
We’re dedicated to helping you enjoy the highest standards of living – in bold, brand-new, luxurious residences. To find out what’s available and what’s coming up, head to the Projects tab on our website.
Some highlights of 2023? Two sellout projects – Maple and Indio – both due to settle in the middle of this year. But the superstar of the year was Seymour and Blanche. With a new builder appointed at the end of 2023, we’re very excited for construction to begin on these Elsternwick luxury townhouses in Q1 2024. With such a successful year behind us, it begs the question: what’s next? Well, we’re expecting a bigger and better 2024. Perhaps even our biggest year yet. With half a dozen new projects – including townhouses, houses and apartments – in our catchment area, we’re looking forward to bringing them all to market very soon.
100% sold out
100% sold out
Construction starting Q1 2024
MAPLE
INDIO
SEYMOUR & BLANCHE
Caulfield North
Caulfield North
Elsternwick
THE PEER REVIEW
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29
STATE OF PLAY
Asian market update Melbourne’s Asian property market is growing. And as we welcome the Year of the Dragon – a time that traditionally brings prosperity and good fortune – we look forward to seeing it reach new heights. We sat down with Yan Dosen, Dizzy Wang and Phillip Kingston to discuss the highs and lows of 2023 – and predict the year to come.
deciding to purchase somewhere safe and liveable for their children during their studies. The Caulfield area is also growing in popularity. Previously, many Asian families preferred the Box Hill and Glen Waverly areas. But now, they’re slowly moving across – particularly into homes from the $2 million and above market.
Do you have any market predictions for the coming months? PHILLIP: With Melbourne’s investment market set to PHILLIP: strengthen – particularly in the blue-chip suburbs with great schools, shopping centres and public transport – we anticipate a far more active 2024 among the Asian community. YAN: YAN: Like most people, I hope to see the inflation rate
come under control and interest rates reduce over the next few months. Until then, we’re likely to continue to see a lot of stock on the market. DIZZY: DIZZY : I’m looking forward to this year. Many people will
relocate to Australia as we move through the effects of COVID, bringing new business with them.
Finally, with the Chinese New Year coming up on 10 February, how will you be celebrating? DIZZY : Many of my buyers began their celebrations in DIZZY:
How would you summarise 2023?
December when they headed to China to spend time with the whole family.
DIZZY: With the amount of interest rate rises, we noticed that buyers were going either one of two ways. The first group decided to wait it out, not attending auctions until interest stabilised at a more affordable rate. The other group used this time as an opportunity – because fewer buyers on the market meant less competition for properties.
But for me, I’ll be staying in Melbourne. We’re organising something small through the company, and I’ll also have a more traditional celebration with my family. We’ll keep the festivities going for all 15 days – filled with food, drinks and firecrackers. I can’t wait!
YAN: Overall, 2023 was a challenging year. It had a big
impact on many families, and we noticed a drop-off in buyers across the board.
YAN: YAN: I’m really looking forward to this year. The Year
of the Dragon is normally a very good year – bringing prosperity and good fortune. So it’s only natural for us to celebrate accordingly!
What factors are drawing Asian buyers to properties right now? YAN: YAN: As always, double-storey, brick homes on a full block remain the most popular property type. Especially if they’re near a school zone. However, Q4 2023 was quieter than usual, with many buyers travelling overseas to visit family after four years of COVID-19. DIZZY: DIZZY : Investment properties were also popular, especially with the influx of international students. Many parents are
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Thinking of selling your home? Get in touch with your local Mandarin-speaking Gary Peer & Associates agent today for an appraisal.
Q4 2023
GARY PEER
PHILLIP KINGSTON
YAN DOSEN
DIZZY WANG
KEVIN HUANG
Co-founder, Director 0414 532 778
Co-founder, Director 0414 353 547
Licensed Estate Agent 0452 661 029
Sales Consultant 0459 999 896
Sales Consultant 0413 712 880
亚洲市场最新动态 墨尔本的亚洲房地产市场在增长。 传统文化中，龙年象征着繁荣昌盛、 鸿运当头。在即将迎来龙年之际， 我们翘首以待其达到新高峰。 我们与Yan Dosen、Dizzy Wang 和联合创始人兼董事Phillip Kingston 坐在一起讨论了2023年的市场起 伏，并预测了未来一年的发展方向。
DIZZY: Dizzy： 投资性房产也很受欢迎，尤其是在大量留学生来到澳
洲后。 许多家长正决定在子女学习期间为其在安全宜居的地 方购置房产。
Caulfield地区也越来越受买家欢迎。 以前，许多亚洲家庭更 钟意Box Hill和Glen Waverley地区。 但目前，亚洲家庭逐渐 转移注意力，尤其青睐200万澳元及以上的住宅市场。 您对未来几个月的市场走势有什么预测吗？ Phillip： 随着墨尔本投资市场走强，尤其是拥有优质学校、 PHILLIP: 购物中心和公共交通的蓝筹郊区，我们预计2024年亚洲社区 的交易活跃度将大幅提升。
Yan：和多数人一样，我希望未来几个月通货膨胀率能够得到 YAN: 控制，利率开始走低。 在此之前，市场存量的高位水平可能 会持续。
Dizzy： 我对新的一年充满期待。 随着新冠影响逐渐弱化， DIZZY: 许多人会搬来澳大利亚，产生新的置业需求。
最后，2月8日就是中国新年了，各位打算如何庆祝？ Dizzy： 我的许多买家在12月份就开始庆祝了，已经前往中国 DIZZY: 与家人共度佳节。
但是我个人的话，会留在墨尔本。 我们会通过公司组织一些 小型活动，我也会和家人一起以更传统的方式来庆祝新年。 我们会让庆祝活动持续整整15天，尽情享受美食、美酒和烟 花。 我已经迫不及待了！ 各位对于2023年的总体评价是怎样的？ Dizzy： 在今年利率上调幅度的背景下，我们观察到购房者对 DIZZY: 市场一般有两种态度。 第一类人群决定静观其变，在利率稳 定到一个可承受范围之前，不参与房产拍卖。 而另一部分人 则视利率上行周期为机遇，理由是市场上买家的减少意味着 行业竞争的减少。
YAN: Yan：总的来说，2023年的行情比较难。 市场形势对许多家
Yan：我真的非常期待新年到来。 龙年通常都是寓意非常好的 YAN: 一年，预示着繁荣昌盛和鸿运当头。 相应程度的庆祝活动自 然是少不了的！
庭的影响都比较大，我们发现买家数量全面下降。
有意向出售名下物业？ 请与您当地
目前吸引亚洲买家购置房产的因素有哪些？
事务所的经纪人（说中文普通话）
Yan：和以往一样，独立地块的双层砖房仍然是最受欢迎的房 YAN:
联络，进行房产估价。
Gary Peer & Associates
产类型。 尤其是靠近学区的房产。 不过，2023年第四季度市 场比往年要冷清，许多买家在四年新冠之后都回海外探亲了。
THE PEER REVIEW
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31
HELPING YOUTH IN NEED:
The story of St Kilda PCYC’s suburban safe haven
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As a not-for-profit charity, St Kilda Police and Citizens Youth Club (PCYC) has acted as a beacon of hope for at-risk youth for over 70 years. One such way they’ve been able to do this is through their Inkerman Street rooming house – offering safe and cheap accommodation for young people. Cradling stories of resilience and triumph, the walls of 175 Inkerman Street have borne witness to countless rekindled dreams and reimagined futures. But the time has come to close its doors and move it on to a new chapter – and a new owner. As St Kilda PCYC’s time with this Inkerman icon ticks down, we caught up with CEO Christine Fitzherbert and Gym Manager Donny Pelsoczy to reflect on its profound impact – and the lives forever changed within its embrace.
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HELPING YOUTH IN NEED
From stolen apricots to sporting clubs
Empowering youth for life
Let’s travel back in time.
Today, St Kilda PCYC is a registered, not-for-profit charity.
The year is 1947. Mrs Olive Johnston is in her backyard when she hears a rustling of leaves. Looking over the fence into her front yard, she sees two boys plucking apricots off her tree. So, with a sharp ‘Hey!’, a determined Olive stomps out to confront the fruit looters.
With a community-based gym, 12 youth programs a week, an annual leadership program, a ‘Boxing for Parkinson’s’ program – and even a coffee shop (aptly named Olive’s Lane) – St Kilda PCYC brings its mission to life through a multipronged approach.
‘Olive had already noticed the number of disengaged and at-risk kids in the area,’ St Kilda PCYC CEO Christine Fitzherbert says. ‘So, to discourage them from living a life of crime, she offered them a deal they couldn’t refuse.’
‘Most of the kids come from housing estates,’ Christine explains. ‘They’re not in affluent circumstances, they’re in high-risk environments and live very difficult lives.’
Olive tells the boys that they can have the apricots – for free. All they need to do is knock on the door and ask. And as the conversation continued, she suggested they come back to play sports once a week in her backyard. ‘It started with three or four boys for a few weeks, then 50 turned up, then the girls started joining as well!’ Christine explains. As the weeks went on, Olive saw a need to model a youth group similar to Queensland PCYC’s at the time, so she reached out to the local police station. Soon enough, the St Kilda Police and Citizens Youth Club (PCYC) was born.
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Which is where St Kilda PCYC steps in. Gym Manager Donny Pelsoczy explains: ‘Our work is about giving them as much opportunity as we can. We offer leadership, barista and fitness training, mentorship from qualified youth workers – and sometimes even employment – to provide a supportive, affordable transition into independence,’ he says. ‘We also bring food to each of our programs so no one leaves hungry,’ Christine adds. But St Kilda PCYC isn’t only for youths – it’s for the community at large. For anyone of any age, ability or circumstance.
THE STORY OF ST KILDA PCYC’S SUBURBAN SAFE HAVEN
‘The rooming house has been home to many young people who have gone onto better things,’ Christine explains. ‘In fact, a lot of our staff have come through the rooming house.’ ‘Many residents – past and present – have worked in the coffee shop, our youth programs or our office,’ Donny confirms. ‘We’ve given a lot of people a leg up.’ And they didn’t do it alone. ‘There’s been a few people who have come through and invested money in updating the building,’ Donny explains. ‘RMIT and SEMZ Construction put in a multipurpose pod. BMF Construction redid our driveway – and added a garage while they were at it. Every year, the team at Moose Toys fixes up the whole garden for us. And that’s just to name a few! ‘The community put so much into that house because it’s given so much to the community,’ says Donny. ‘That house changes lives. And while we’re sad it can’t continue to do so, we can in the capacity of St Kilda PCYC.’
Plans for the future with PCYC St Kilda PCYC is looking forward to developing its gym, youth programs and coffee shop even further – and potentially adding more ventures down the track. But it needs our help. ‘Everything we do is made possible through donations and grants,’ Christine explains. ‘That’s always going to be the hardest part of our work – finding the funds to keep our programs running.’ ‘We can always use more volunteers, too,’ says Donny. ‘Youth workers, handypeople, fitness trainers, writers – even people who can give us a hand with a sausage sizzle. Any help we can get is greatly appreciated.’
Providing a place to call home It was about a decade ago when the team at St Kilda PCYC looked at 175 Inkerman Street and saw an opportunity. ‘There’s a real need for youth housing,’ Donny explains. ‘It’s very difficult for today’s young people to find cheap accommodation – especially when coming from substance abuse, violent relationships and unsafe homes. ‘So we partnered with the Salvation Army Crisis Centre to offer refuge to 17–25-year-olds in one of our six rooms, allowing them to take the first step out of their situation and into the rest of their lives.’ And there couldn’t be a better place to start than St Kilda. ‘It’s a fascinating suburb,’ Christine implores. ‘It’s vibrant, multicultural – and offers a great mix of society. Most importantly, it’s a very tolerant area. Delightfully inclusive for all sorts of people.’
Following the blueprint from struggle to strength 175 Inkerman Street has always been a safe place to land. But more than that, it’s the perfect foundation from which to grow.
A home with a habit of changing lives Historically speaking, this turn-of-the-century property is very kind to its inhabitants. And it’ll be no different to its lucky new owner. ‘This property is sure to be hotly contested,’ says Licensed Estate Agent, Jacob Kingston. ‘The perfect mix of old and new, 175 Inkerman Street retains the classic St Kilda old-school charm – while also offering close proximity to all the best Melbourne has to offer.’ From Chapel Street to Melbourne CBD, St Kilda Road to St Kilda Beach, Caulfield Park to Carlisle Street – even the supermarket – everything you’ll ever need is at your doorstep. And right next door? The heart of the suburb – St Kilda PCYC’s community hub.
Is St Kilda PCYC – or any other local community group – close to your heart? Have your say!
THE PEER REVIEW
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MEET LEOR SAMUEL:
‘Some kids worked at McDonald’s. I worked the weekend markets.’
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Leor Samuel’s upbringing was the tale you’ve heard a million times before. Mum, dad, Leor and his three younger brothers. A house in Caulfield. Time spent with family. Sport, friends… and the odd venture to the basement of an Egyptian bazaar to buy gold. Okay, maybe you haven’t heard this one. The truth is, Auctioneer and Carnegie Office Director Leor Samuel’s childhood was anything but ordinary. We sat down with him to find out more.
When dad’s work is your school holiday Growing up, trips to Asia and the Middle East were a staple of the Samuel family calendar – adding spice to Leor’s otherwise normal life in Melbourne’s south-east suburbs. ‘My dad was a travelling salesman,’ Leor explains, ‘and when he took trips to places like Egypt and Turkey, one of us kids would tag along.’ Leor’s childhood is sprinkled with memories of his dad’s work. Some conventional; others with a hint of Hollywood. And whatever Leor’s dad bought on those trips to faraway places – papyrus, perfume bottles, scented candles – would soon find its way into the hands of Melbourne market-goers.
I’ve got this crazy memory of a trip to Egypt. A vendor my dad was bargaining with took us downstairs. I remember thinking – here I am, a Grade 5 kid. In the basement of a bazaar in Egypt at 11 o’clock at night. Watching my dad buy gold!
Confidence, discipline and a bit of fun: Learning dad’s business ‘Never sit down, always stand up. Be confident. Talk to people.’ These are the lessons a fresh-faced Leor learnt from his dad on Sunday mornings at the Caribbean Gardens and Market in Scoresby. While other kids were sleeping in, Leor and his brothers were up at 6:30am to set up the market stall. ‘My dad had a really good eye for what was popular in Europe, the Middle East and Asia. Then, he’d be one of the first to bring it to Australia,’ Leor recalls. ‘We had a really busy stall. It was colourful and creative – it always stood out.’ So too, no doubt, did the plucky young salesmen learning the tricks of the trade from dad (including his brother Aviv, who joined Leor at Gary Peer over a decade ago). ‘Even as kids, we were hard at it until closing time, around 4:30pm. Working there gave me an inbuilt discipline – and taught me a lot about business, people and selling. THE PEER REVIEW
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MEET LEOR SAMUEL
‘But it was fun at the same time. I used to walk around the market with my brothers and try to figure it all out. Eventually, everyone knew who we were. We used to get into the rides for free!’
From markets to auctions: Discovering the world of real estate In Year 9, Leor’s weekend activities started to change. Armed with a book of listings and his trusty pushbike, he’d cycle to the nearest property for sale and watch Phillip Kingston in action. Or should we say, auction. It begs the question – what was a 14-year-old kid doing watching auctions? ‘I loved the theatre of it. It pulled me in, especially when Phillip was conducting.’ Leor’s sliding doors moment came when he noticed a younger guy from another agency putting out the flag at an auction. When Leor asked how he could get a foot in the door, he got a business card in return. Though Leor’s Gary Peer days were yet to come, his real estate career had just begun.
St Kilda’s keenest sales cadet It started with a rite of passage for every high schooler: work experience. And from day dot, Leor’s enthusiasm for the industry never faltered – no amount of photocopying or rainy coffee runs could dampen his spirit. ‘I got to know everyone at the agency – and learnt as much as I could. I kept in touch and, when I finished school, I applied for a job as a sales cadet there in 1999.’ For the uninitiated, a job as a sales cadet is the first step into the biz. You shadow the more experienced sales agents; you take calls; you put the flags out. Selling homes? That comes later. Not for Leor. ‘I started taking calls when no sales consultants were around, letting people know what properties we had. All of a sudden, I was selling more than the salespeople!’ One morning, just before a property run, an older sales consultant called George pulled Leor aside, seemingly at random. George told him if he liked the industry, he should keep at it – he was good at it. The next day, George – who had been unwell for some time – passed away. Looking back, Leor sees that final conversation as a sort of blessing. He’d go on to fill George’s shoes at the agency, honouring the wisdom and encouragement from his colleague in a new role.
If you can’t beat them, play a different game Leor was now a salesman. But he was also a 19-year-old kid with a modest resumé – meaning he had to think up novel ways to earn business. 38
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‘SOME KIDS WORKED AT MCDONALD’S. I WORKED THE WEEKEND MARKETS.’
‘I realised I couldn’t win on experience,’ Leor says. ‘I had to win on energy and knowledge.’ So he got to work. ‘At that time another young agent called James Meldrum got a job at the same office. We were like kindred spirits. ‘We’d pound the beat together. Chase leads. Work Saturdays and Sundays – we were hungry. A young, dynamic force!’ A by-product of this energetic partnership? Leor soon knew Elwood and St Kilda like he’d lived there for 50 years. ‘They called me Mr Melways,’ he laughs. And then, an opportunity. When an overseas vendor was selling a property in Leor’s area, his boss made the call. That Leor, then only 20 years old, would conduct his first auction. Was he nervous? ‘Sure – I was just a kid!’ Leor chuckles. But it didn’t stop him from inviting all his friends to come and watch.
Coming-of-age: A new era at Gary Peer If his early teenage days as auction acolyte are anything to go by, Leor was always destined for Gary Peer. And after catching the eye of its founders in 2007, he got his chance. But it wasn’t smooth sailing at first. ‘Gary and Phillip really pushed me in those early days,’ says Leor. ‘I even wondered whether it was the right decision to move there. ‘But ultimately, it made me a better agent. I learnt how to list properties, how to listen, and how to use a database properly. I shifted my focus to doing the absolute best for the client and creating a memorable experience.’ Speaking about his early days at Gary Peer, the man Leor describes is a departure from the self-assured young boy of his earlier anecdotes. Had he changed? ‘I think I’d just grown up a bit by then,’ Leor reflects. ‘I was a little older. I was married to my wife, Natalie. We had a house – and we were planning on having children. I think that’s why I was ready for Gary Peer.’ Now a father of three (Ashton, 15; Hudson, 13; and Eamon, 8) and director of the Carnegie and Murrumbeena offices, Leor’s fatherly role extends to the people in his 31-strong team. ‘It sounds cliché, but we’re a big family. I don’t just get joy from doing deals now – I get it from seeing the people in my team do well, too.’ His main advice to them – or to anyone looking to succeed in real estate?
Did Leor’s journey from weekend markets to property markets strike a chord in you? Have your say!
Plenty of discipline, with a little TLC. ‘Sow, water, feed, nurture. If you take care at every step, everything happens as it should.’
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COLD BREWS, WARM HEARTS:
The Gary Peer coffee van’s past, present and future It was 2015. Jacob Kingston – then 21, studying marketing and economics at Monash University – sat chatting with his dad, Phillip, over a coffee. The topic of conversation? How to bring yet another layer of entertainment to Gary Peer & Associates’ already showstopping auctions. Sipping their flat whites, it wasn’t long before inspiration struck. When they realised that the answer was, quite literally, under their noses.
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The coffee van started out small. But it got the basics right: good people, on wheels, serving good coffee – to more good people!
Humble beginnings: The coffee van starts its engine ‘Our auctions are one of our main and most unique points of difference,’ says Jacob, smiling back at me through the steam coming off his mug. ‘It’s theatre; it’s game day. So my dad and I thought why not add an extra layer to that – and bring hospitality into it, too?’ The concept was simple – yet sensational. A van, with a coffee machine inside. The van would follow each weekend’s auctions, serving free coffee and water. Plus lollipops for the kids. But first, Jacob and Phillip needed the coffee. Enter Las Chicas – a café on Carlisle Street. Las Chicas provided the beans, as well as a barista to help turn them into fresh coffee. For the rest of the crew, though? The drivers, the servers, the support, the hype people? Well, there was already a pool of readymade applicants. Jacob rounded up an ensemble of friends – Mia, Zac and Olivia among them – to be the van’s public-facing side. Away from the crowds, extra support came from an unlikely source – Jacob’s mum, Irene! THE PEER REVIEW
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COLD BREWS, WARM HEARTS
‘For the first four years of the coffee van’s life, we kept it parked in my parents’ driveway,’ Jacob reminisces. ‘We’d go and wash the dishes in their house, all of us pitching in. To this day, my mum still washes all the tea towels. Every week. We’re hoping she’ll never stop!’ The coffee van started out small. But it got the basics right: good people, on wheels, serving good coffee – to more good people!
‘A fun, festive atmosphere’: The coffee van gathers speed The Gary Peer coffee van took off. Auctioneers, hopeful buyers, anxious sellers and intrigued neighbours sipped, side by side. The coffees came fast. The positive feedback came faster. And, with the coffee van turning up – playing music and doling out doppios – something happened. The people turned out. ‘At our auctions, a lot of neighbours come watch. In the past, they’ve stayed standing behind their fences, or watching from the other side of the street. They kept to themselves. ‘But when the coffee van started rolling up, they all began strolling over for a coffee and a chat. ‘Our auctions are already loud and energetic. The coffee van only enhances that. It feeds into that fun, festive atmosphere!’ In 2017, a second coffee van joined the ranks. Together, the two vans hit up to 30 auctions across the weekend. Serving up over a thousand free coffees to the caffeine-craving communities of Caulfield and beyond.
A family business: The coffee van’s familiar faces The coffee van has seen many faces come and go during its seven years (and counting!) on the streets. But they tend to always be familiar ones. ‘When the coffee van began, it was my mates and me running it,’ says Jacob. ‘Then, as we got older, we passed it 42
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down to my brother, Ben, and his friends. The next manager was Olivia Sackville. Olivia – Phillip’s Executive Assistant at the time – demonstrates just one example of the pathways the coffee van can open into a career with Gary Peer. ‘It’s a rite of passage in many ways. The van crew is strictly young people; it tends to be those in the 18 to 23 age bracket. Most of them are studying. And all are from the community: be they children of our team members or clients, or living locally.’ Former Head of Hospitality Mia Yanay then moved onto the van part time, balancing coffee-making alongside her studies. While the van’s current Head of Hospitality, Rikki Krongold – also sitting across the table from me now – is Director Darren Krongold’s daughter. Rikki’s twin sister Britney is involved too. Because at Gary Peer, coffee-making is a family business – in every sense of the word! So what’s it like working with your loved ones? ‘It gives you a sense of pride,’ says Rikki, sipping her ristretto. ‘You’re building on your family’s legacy, in a way. But it’s also a source of pride for my dad, that my sister and I are working in the company he helped build. That we’re following in his footsteps.’ Jacob agrees. ‘Working with my dad is fantastic – we have such a good time! He’s so supportive. Together, it’s been amazing to have translated an idea into a thriving (and important) part of the business.’
Careers and community: The coffee van’s enduring influence Sipping my espresso with Rikki and Jacob, it’s evident that the Gary Peer coffee van isn’t only about the piccolos, but the people. About moving the van forward. And paying it, through regular local charitable contributions, in the same direction. ‘The coffee is always free,’ says Rikki. ‘No matter what.’
THE GARY PEER COFFEE VAN’S PAST, PRESENT AND FUTURE
Through this lens, the coffee van is as much about love as it is lattes. ‘You speak to people, get to know them,’ says Rikki. ‘It’s about bringing the community together and building those relationships with the public. ‘I remember most people’s orders. Whether it’s catering for the sales team during the week or to the public on a Sunday, I can look at someone’s face and give them their order – before they even make it.’ A weekend on the van is magnificent for the memory. But it’s also an excellent way of developing a set of crucial life and career skills. Problem-solving. Initiative-taking. Communicating. ‘I was never the kind of person to go up and talk to someone I didn’t know,’ says Rikki. ‘But working on the coffee van gives you self-confidence – work ethic. You learn how to talk to people, and about the real estate industry. Not to mention how to make a mean coffee!’
A fresh taste, look and feel: The coffee van today
The result? A vibrant, exuberant depiction of southeast Melbourne’s landmarks and locales. (And more than a few admiring glances!) ‘Benji gets joy seeing the coffee van around, because he lives locally,’ says Jacob. ‘We could’ve gone to a traditional marketing agency, but we made a conscious choice to engage someone within the community. Someone it would make a difference to.’ Plus, it’s not only the coffee van’s look that’s changed over the years. But its taste, too. Recently, Cheltenham-based supplier Ottimo Coffee stepped in as the coffee van’s new partner. The leading roastery supplies coffee beans for several of our city’s best cafés. Ottimo is also providing training for the vans’ crew.
The joy of java: The coffee van’s exciting future Two vans. Eight wheels. More than 30 team members. Thousands of coffees served every weekend. And a single cause – a simple, heartfelt love of the southeast Melbourne community – driving it all.
Today, the coffee van is more than a moving macchiato machine. It’s a whole branch of the business, employing more than 30 staff.
It begs the question. What’s next?
‘Our coffee van crew is now, essentially, a thriving in-house hospitality company,’ says Jacob. ‘We cater to cocktail parties, to launch events, to our sales team meetings.’
‘Never say never. As long as we keep growing, which we are, we’ll have to add new vans to the ranks to satisfy the demand. So watch this space!’
Once a pair of seemingly permanent fixtures on the Kingstons’ driveway, the coffee vans now have a permanent home – Gary Peer’s Balaclava Road-based New Projects office. ‘Our New Projects office doubles as a hospitality space, with an amazing coffee machine our crew receives training on. There’s a full kitchen, cleaning area and dishwasher back there. It’s a professional setup.’
When I float the prospect of a third van, Jacob shrugs – and smiles.
Seen the Gary Peer coffee van out and about? Have your say!
The coffee van has also had a facelift. A few years ago, we did a rebrand and redesign. We hired local artist Benji Weinmann to give the van a fresh lick of paint.
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What’s been happening at Gary Peer? An inaugural spring racing event for the books What else does spring signify but flowers blooming, warmer weather – and racing? So it was only fitting that the Gary Peer Social Club (GPSC) got the team together for its very first spring-racingthemed event. Held at the iconic Albert Park Hotel, it was a special night of laughter and bonding with blasting beats, bold booze and boujee bites. Plus, promises of ‘best-dressed’ prizes brought out the team’s sense of healthy competition – and their most elaborate outfits! It was a soaring success for the GPSC. As one team member shared, ‘In my past roles, you’d go to work events with a touch of obligation and a hint of awkwardness. But I didn’t feel that at all at this event. I felt like I was on a night out with friends.’ And we couldn’t have put it better ourselves.
Celebrating our 10-Year Club Once a year, we wine and dine our 10-Year Club – employees who have been with us for 10 or more years – to say a muchdeserved thank you. This year’s locale? The exclusive and intimate Arch dining room at James Said Bistro in Armadale. The night began with cocktails, followed by a luxe, European-inspired menu. The highlight, however, was when co-founders Phillip Kingston and Gary Peer went around the table to share a personalised message of gratitude to each team member. We now have 30+ members in our 10Year Club (with 500 years of real estate experience between them) – all of whom have given so much. Recognising their unwavering service is the least we can do. 44
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Glam and games galore at the end-of-year function As the curtain fell on 2023, our team bid the year adieu with a spectacular end-of-year celebration. Kicking off the evening outdoors at The Timber Yard in Port Melbourne, we enjoyed drinks under fairy lights and ate from a smorgasbord of food trucks: Italian, Vietnamese, Greek – you name it! The evening transitioned seamlessly from the outdoor foodie paradise into an eclectic, trendy warehouse. Arcade games, air hockey, pinball, foosball and photobooths were the name of the game. Then, the Gary Peer team boogied the night away, soundtracked by a DJ – and an accompanying drummer and violinist! It was the perfect way to close out the year and celebrate the team’s successes, milestones and journey. Bring on 2024!
Ready to see your career soar? Come join us! Browse our open positions (or express your interest) at GaryPeer.com.au.
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Our people Gary Peer
Phillip Kingston
Jeremy Rosens
Leor Samuel
Darren Krongold
Sally Zelman
Leon Gouzenfiter
Daniel Micmacher
Matthew Morley
Benjamin Rothschild
Simon Radolnik
David Thomson
Rafi Joffe
Graeme Callen
Vanessa McGlynn
Christian De Frece
Rishi Thaker
Isabella Bracka
Dizzy Wang
Leor Bar
Marc Wynn
Mariam David
Charlotte Hellier
Amanda Davenport
Aimee Sandler
Stephanie Karasavidis
Clare Cruickshank
Stephanie Christodoulou
Billy Cohen
Angelique Mancilla
Chloe Richardson
Cynthia King
Kristy Heyneker
Donna Pelobello
Lucy Morley
Rikki Krongold
Catherine Flint
Jenny Caughey
Anthony Lee
Brittany Kaklikos
Danijela Krstic
Gemmah Kinniff
Tracey Freestone
Amey Shinde
Samantha Lee
Robert Litinetsky
Kirsty Shiner
Amanda Hocking
Amanda Adami
Nicole Cousins
Stephanie McNeil
Deb Anassis
Olivia Johns
Martina Ticha
Edwina Wheatland
Tania Crawley
Robert Silverman
Ned Hellier
Tammy Nadelman
Lachlan Morley
Jessica Alvarez
Paul Barba
Helen Potter
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Julian Millman
Limor Herskovitz
Nikki Janover
Joel Ser
Daniel Fisher
Aviv Samuel
Daniel Peer
Ben Ajzner
Jacob Kingston
Arlene Joffe
Yan Dosen
Mark Kirkham
John Tsui-Po
Kevin Huang
Monique Robin
Rheno Pabillore
Kane Nissenbaum
Oliver Quinn
Romy Szkolnik
Tori Carpentier
Aliza Szylit
Lisa Alberts
Georgia Milenkovski
Michy Rosens
Jacqueline Sher
Kylie Cruthers
Mark Kras
Adam Lipszyc
Jessica Madi
Lex Mae Lascuña
Debbie Morton
Trixie Ibay
Natalie Santangelo
Abby Rose Sernio
Ma. Jerna Pol
Harry Lustig
Mairead Gaffney
Allira Skews
Brad Graham
Kylie Malmstrom
Cristina Trapler
Susan Gaul
Zoe Swinnerton
Kellie Finlayson
Angela Skarlatos
Jamie-Lee Fox
Jimmy Tsohagis
Stefania Tartiris
Edward Leibel
Nicole Symeonidis
Lachlan Hardiman
Indy Uthpala
Rachel Moshel
Aditya Ignatius
Grace Meadowcroft
Stephanie Thomson
View our people Joanne Meldrum
Charmaine Cuyco
Luen Mae A. Buhawe
Amanda Ferguson
Melissa Cutajar
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NEW PROJECT RELEASE
Downsizing with no compromise
Caulfield North Reside where European Modernist architecture and contemporary attributes come together to welcome spacious family entertaining. 110-112 Balaclava Road, Caulfield North
BOOK A PRIVATE APPOINTMENT Phillip Kingston 0414 353 547 Julian Millman 0412 713 121 Jacob Kingston 0401 631 550 Rafi Joffe 0419 387 006
GaryPeer.com.au
GaryPeer.com.au Bentleigh
Carnegie
Caulfield
Murrumbeena
St Kilda
New Projects
Property Management
03 8842 6800
03 9563 1666
03 9526 1999
03 9569 0718
03 9066 4688
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03 9526 1988