Grants Berwick - Quarterly Report Q4 2015

Latest Local Property Results

latest property market update // Sep - Dec 2015

Berwick & Casey

Property Market report

Grant’s Market Update

Is your area in the $1,000,000 club?

Its amazing how things can change in the market. Back in June 1995 only 1% of house sales in Casey and Cardinia were above $1 million. Now that percentage is more like 12%.

Its a staggering rate of growth and shows how successful a long term strategy of focusing on purchasing a quality home in a premium area can work out extremely well.

What was once a price level few could dream of achieving has now become much more common, similarly entry level homes are achieving new benchmark prices in a number of quality areas.

These changes tell us a couple of things, they underline the buoyant market conditions of low interest rates, strong buyer demand and lack of stock on market - which in turn creates tremendous wealth for your family if you invest with a long term view. These results also remind that the price we thought was unachievable yesterday could well be the reality of tomorrow.

Recently, we have sold 3 houses in the same street. The first sold for $550,000 - a new record price for the street; the second sold 4 weeks later for $590,000 - again a new benchmark for the street; then 5 weeks later we sold another home for $635,000 again in the same street - a overall increase in values of $85,000 in only 2 months!

With competition driving prices higher it can be a frustrating situation when you miss out on a property that you wanted to bid on, but it sold prior to you getting to see it.

“If you want to buy this spring – especially with the boom conditions we have, you have to be prepared to act faster than the typical three or four weeks that a standard campaign provides.”

The only way a property is going to sell prior without you knowing is if you don’t tell the agent you’re interested. You have to make this known in order to be included in any negotiations. These negotiations can happen very quickly – often within 24 hours, especially if the buyer who makes the first offer puts a deadline on it. In these cases, agents don’t have time to call people who might be interested in the home, they’re just going to talk to people they know are interested in the home. Flag that you would like to be kept informed if an offer is made.

Interest rates also remain on hold, the Reserve bank has a difficult balancing act caught between the need to hold interest rates low to stimulate the economy, coupled with the desire to curtail the speculation on property prices particularly with investors and the Sydney market. But most commentators still see the first interest rate increases occurring in 2017, which combined with investors leaving the stock market recently and focusing on property should see Spring results continuing to break records.

If you have any questions regarding your specific needs, the Grants team are here to help you with expert local market knowledge. We invite you at any time to contact your local office, contact one of our team to obtain a free market appraisal.

During this obligation-free meeting, we will provide timely, practical information on:

• • • •

Current market trends and conditions Local property values The appropriate method of sale for your property Results-oriented advertising strategies

Wealthy Australians heavily invested in property

by Sally Patten, Australian Financial Review 24 September 2015

No wonder wealthy Australians talk about property prices more than just about anything – they are more exposed to property prices than just about anybody else.

A survey by management consultant Capgemini shows that high net worth Australians, defined as investors who have more than $US1 million ($1.4 million) in assets outside the family home, have a much higher propensity to invest in property than their global counterparts.

Property accounts for 30.8 per cent of wealthy Australians' portfolios, compared with just 21.4 per cent for wealthy Asian investors. Globally, high net worth individuals invest just 18.2 per cent of their portfolios in property.

"Wealthy Australians think that property will give them the maximum return on investment," Dipak Sahoo, director of financial services at Capgemini Australia "Wealthy Australians think that property will give them the maximum return on investment," Dipak Sahoo, director of financial services at Capgemini Australia, says. "In the rest of Asia, real estate does not rank as highly because property prices have cooled off," he says.

Somewhat counter-intuitively, wealthy Australians' exposure to shares is lower than the global average.

Despite the ongoing criticism that self-managed superannuation funds invest too much in equities, high net worth individuals in Australia have 26.5 per cent of their portfolios invested in shares, compared with 27.9 per cent for wealthy investors globally.

That said, the message from professionals that Australians need to diversify their portfolios away from the local market appears to be taking effect.

Sahoo says that despite the dramatic fall in the Australian dollar over the past year, the proportion of wealthy investors' share portfolios that is invested offshore rose to 30.7 per cent in 2015, from 30.4 per cent in 2014.

Given Australians' penchant for property, the latest Australian Bureau of Statistics figures will come as some relief. The bureau said on Tuesday the weighted average of the eight Australian capital city property prices soared 9.8 per cent in the three months to June, compared to a year earlier.

House prices in Sydney surged 18.9 per cent in the June quarter, the fastest rate on record in the current series.

The Capgemini survey showed that wealthy Australians' top three concerns were whether they would have enough cash to last their lifetime, whether they could afford to maintain their lifestyle in retirement and the rising cost of healthcare.

Latest Local Property Results

Recent sales Street

Locality

Bedrooms

Bathrooms

Car Parks

Area

Sale Price

7 ABBEY RD

NARRE WARREN SOUTH

4

2

2

661

$530,000

8 ALLAN ST

BERWICK

4

3

3

748

$775,000

11-13 ALLUNGA PDE

BERWICK

5

2

2

721

$565,000

20 ALLUNGA PDE

BERWICK

2

1

1

334

$371,000

7 AMOS CRT

NARRE WARREN SOUTH

4

2

2

657

$530,000

2 ANDVAL CRT

BERWICK

3

2

2

708

$635,000

15 ARLINGTON PL

NARRE WARREN SOUTH

4

2

2

740

$578,200

2 ASHTON RISE

NARRE WARREN SOUTH

3

2

2

507

$347,000

74 AVEBURY DR

BERWICK

4

2

2

650

$560,000

19 BALFOUR CRT

BERWICK

4

2

2

553

$535,000

11 BALMACEDA CRT

BERWICK

3

2

4

500

$405,000

19 BALMACEDA CRT

BERWICK

3

2

2

468

$407,000

24 BANCROFT AVE

NARRE WARREN SOUTH

4

2

2

617

$542,000

25 BELLEVUE DR

BERWICK

3

2

2

562

$480,000

6B BERTRAND CL

BERWICK

3

360

$335,000

31 BOUNTY WAY

BERWICK

4

2

2

594

$471,000

10 BROOKVILLE CRT

NARRE WARREN SOUTH

4

2

3

843

$500,000

3 BURR HILL CRT

BERWICK

4

3

2

3,696

$2,240,000

29 BUSHLARK CRT

BERWICK

3

2

2

602

$599,988

14 CANBERRA AVE

BERWICK

4

2

2

464

$710,000

15-16 CARAVELLE CRT

BERWICK

5

4

5

6,053

$1,700,000

21 CASANDRA CRT

BERWICK

4

4

2

707

$980,000

4 CASDAR CRT

NARRE WARREN NORTH

4

2

6

4,000

$860,000

21 CASEY DR

BERWICK

4

2

2

5,277

$920,000

37 CEDARWOOD CRES

BERWICK

4

3

3

728

$730,000

5 CELESTE CRT

BERWICK

3

2

3

705

$505,000

12 CHADBOURN PL

NARRE WARREN SOUTH

3

2

2

631

$395,000

62 CHIRNSIDE RD

BERWICK

4

2

2

650

$650,000

28 CHRISTINA ST

NARRE WARREN

5

3

1

585

$565,000

2 CLAREMONT GLEN

BERWICK

3

2

2

738

$475,000

11 CLENDON ST

BERWICK

3

2

2

700

$561,355

5 CLOVERLEA GR

NARRE WARREN SOUTH

4

2

2

678

$535,000

7 COONEY CL

BERWICK

3

2

1

471

$420,000

24 DAHLEN PL

BERWICK

3

2

2

507

$451,000

8 DON COLLINS WAY

BERWICK

4

2

2

676

$542,000

4 DYLAN CRT

BERWICK

3

2

2

355

$460,000

128 EARLSFIELD DR

BERWICK

4

2

2

621

$470,000

13 EASTBURY CRT

NARRE WARREN SOUTH

5

2

2

550

$500,000

32 ELGIN ST

BERWICK

4

2

2

1,012

$760,000

Latest Local Property Results

Street Name

Locality

Bedrooms

Bathrooms

Car Parks

Area

Sale Price

2 EUSTON CRT

BERWICK

3

2

2

501

$465,000

2A FIELDHOUSE LANE

BERWICK

3

2

1

330

$440,000

7 FLORENCE AVE

BERWICK

3

2

2

553

$453,000

4 FOULDS CRT

BERWICK

4

2

2

543

$438,000

90-96 FOX RD

NARRE WARREN NORTH

5

3

6

4,580

$1,070,000

25-27 GLEN MOIDART DR

BERWICK

4

3

7

11,410

$2,150,000

49 GLENVIEW RISE

BERWICK

3

2

2

578

$527,500

50 GOLDEN GROVE DR

NARRE WARREN SOUTH

3

2

2

588

$585,000

2 GOLF LINKS RD

BERWICK

3

2

2

382

$467,500

GOLF LINKS RD

BERWICK

3

2

2

11 GROSVENOR PL

NARRE WARREN NORTH

4

3

6

4,269

$910,000

1 HACKBERRY PL

BERWICK

4

2

2

541

$620,000

20 HANCOCK DR

BERWICK

3

2

2

424

$460,000

42 HAROLD KEYS DR

NARRE WARREN SOUTH

5

2

2

630

$474,000

23 HARRINGTON DR

NARRE WARREN SOUTH

4

2

2

532

$475,000

5 HILLANDALE RISE

BERWICK

3

2

2

714

$555,000

3 HOLDER PL

BERWICK

4

2

2

844

$666,000

77 HOMESTEAD RD

BERWICK

4

2

2

646

$502,500

8 HOWELL DR

BERWICK

3

3

6

745

$645,000

32 HOWELL DR

BERWICK

5

2

2

760

$790,000

78 INGLIS RD

BERWICK

5

3

2

650

$655,000

30 INSIGNIA CRES

BERWICK

3

2

2

325

$375,000

4 IRVING CL

BERWICK

4

2

2

594

$607,500

27 JARRYD CRES

BERWICK

4

2

2

560

$390,000

1 JASON CL

BERWICK

3

2

1

650

$427,000

62 JERILDERIE DR

BERWICK

3

2

2

671

$598,000

9 KAILAH CRT

NARRE WARREN SOUTH

4

2

2

553

$480,000

23 KELBURN RD

BERWICK

3

1

2

544

$465,000

12 LIA AMIE PL

BERWICK

4

3

2

634

$661,000

9 LIBERTY AVE

BERWICK

4

2

2

524

$591,000

10 LILAC CRES

BERWICK

4

2

2

682

$570,000

4 LINDEMAN ST

BERWICK

4

2

2

312

$516,500

19 LISBURN WAY

BERWICK

3

2

2

401

$420,000

30 LORIKEET DR

BERWICK

4

2

2

601

$620,000

39 LOUISE BAILLE AVE

NARRE WARREN SOUTH

4

3

2

1,000

$750,000

10 LOWANNA ST

BERWICK

4

2

2

606

$710,000

17 MAGARRA CRES

BERWICK

3

2

2

324

$400,000

3 MALLEE CRT

BERWICK

4

2

2

654

$530,000

11 MARYN CL

BERWICK

3

2

2

563

$423,000

1 MEADOW PL

NARRE WARREN SOUTH

3

2

2

665

$495,000

16 MELDRUM CRT

NARRE WARREN SOUTH

4

2

2

734

$499,500

$425,000

Latest Local Property Results

Street Name

Locality

Bedrooms

Bathrooms

Car Parks

Area

Sale Price

5 MERCY CRT

NARRE WARREN SOUTH

5

2

2

789

$665,000

12 MERIDIAN CCT

BERWICK

4

2

2

333

$497,500

32 MERIDIAN CCT

BERWICK

3

2

2

313

$452,500

5 MILLWOOD AVE

BERWICK

3

3

2

792

$532,000

3 MISTY CL

BERWICK

4

2

2

544

$550,000

9 MONTHAM CL

BERWICK

602

$300,000

1/13 PEEL ST

BERWICK

3

1

2

408

$570,000

15 PENDLE CL

NARRE WARREN SOUTH

5

2

2

632

$555,000

741 PRINCES HWY

BERWICK

3

1

1

792

$506,000

18 RIDGEMONT DR

BERWICK

5

2

2

680

$635,000

41 RIDGEMONT DR

BERWICK

3

2

2

612

$597,500

66 RIDGEMONT DR

BERWICK

4

2

2

367

$510,000

12 RIDGEWAY CH

NARRE WARREN SOUTH

6

3

4

647

$750,000

36 RIVIERA DR

BERWICK

4

3

2

777

$720,000

122 ROBINSWOOD PDE

NARRE WARREN SOUTH

4

2

2

700

$580,000

34 RODLARNI CRES

BERWICK

4

2

2

610

$600,000

45 RODLARNI CRES

BERWICK

4

2

2

629

$501,000

10 ROSEMARY CRT

BERWICK

3

3

2

607

$700,000

15 ROUNDHAY CRT

BERWICK

4

2

2

1,075

$795,000

4 SEEBECK DR

NARRE WARREN SOUTH

3

2

2

844

$461,000

8 SELWYN CRT

BERWICK

4

2

2

664

$609,200

46 SHELDON DR

BERWICK

4

3

4

700

$900,000

23 SPRINGVALLEY WAY

NARRE WARREN SOUTH

3

2

2

500

$405,000

28 WARRAWONG DR

BERWICK

3

1

1

472

$410,000

8 WEMBLEY DR

BERWICK

3

2

1

310

$568,000

19 WINTERS LANE

NARRE WARREN NORTH

3

1

4

868

$510,000

52 WINTERSUN RD

BERWICK

5

2

4

782

$715,000

129 WURUNDJERI BVD

BERWICK

3

2

2

453

$575,000

5 MERCY CRT

NARRE WARREN SOUTH

5

2

2

789

$665,000

12 MERIDIAN CCT

BERWICK

4

2

2

333

$497,500

32 MERIDIAN CCT

BERWICK

3

2

2

313

$452,500

5 MILLWOOD AVE

BERWICK

3

3

2

792

$532,000

3 MISTY CL

BERWICK

4

2

2

544

$550,000

9 MONTHAM CL

BERWICK

602

$300,000

1/13 PEEL ST

BERWICK

3

1

2

408

$570,000

15 PENDLE CL

NARRE WARREN SOUTH

5

2

2

632

$555,000

741 PRINCES HWY

BERWICK

3

1

1

792

$506,000

18 RIDGEMONT DR

BERWICK

5

2

2

680

$635,000

41 RIDGEMONT DR

BERWICK

3

2

2

612

$597,500

66 RIDGEMONT DR

BERWICK

4

2

2

367

$510,000

12 RIDGEWAY CH

NARRE WARREN SOUTH

6

3

4

647

$750,000

Latest Local Property Results

Street Name

Locality

Bedrooms

Bathrooms

Car Parks

Area

Sale Price

36 RIVIERA DR

BERWICK

4

3

2

777

$720,000

122 ROBINSWOOD PDE

NARRE WARREN SOUTH

4

2

2

700

$580,000

34 RODLARNI CRES

BERWICK

4

2

2

610

$600,000

45 RODLARNI CRES

BERWICK

4

2

2

629

$501,000

10 ROSEMARY CRT

BERWICK

3

3

2

607

$700,000

15 ROUNDHAY CRT

BERWICK

4

2

2

1,075

$795,000

4 SEEBECK DR

NARRE WARREN SOUTH

3

2

2

844

$461,000

8 SELWYN CRT

BERWICK

4

2

2

664

$609,200

46 SHELDON DR

BERWICK

4

3

4

700

$900,000

23 SPRINGVALLEY WAY

NARRE WARREN SOUTH

3

2

2

500

$405,000

28 WARRAWONG DR

BERWICK

3

1

1

472

$410,000

8 WEMBLEY DR

BERWICK

3

2

1

310

$568,000

19 WINTERS LANE

NARRE WARREN NORTH

3

1

4

868

$510,000

52 WINTERSUN RD

BERWICK

5

2

4

782

$715,000

129 WURUNDJERI BVD

BERWICK

3

2

2

453

$575,000