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