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MAR - JUN 2016
LATEST > PROPERTY > PRICE > INFORMATION > 2016 >
SECOND QUARTER 2016 EDITION
REPORT
2ND QUARTER 2016 EDITION THE GRANTS REPORT BERWICK & CASEY PROPERTY MARKET UPDATE
T
he potential changes to negative gearing suggested by the Labour Party would see many investors worse off - does this suggest you sell any investments properties now? Probably not, as the proposal has suggested existing investments before July 1, 2017 would remain under the old rules. However, negative gearing does seem to be under review from both sides of politics. Whilst negative gearing remains one of the most important aspects and positives of investing in residential property and whilst currently still speculation, many commentators believe that if the changes are brought in there could be a rush of investors looking to buy prior to changes coming in. The Labour plan is to reduce the negative gearing tax and capital gains tax breaks - primarily through reducing the capital
“Two million Australians own an investment property and, of those, 1.2 million negatively gear,” said the Property Council. “This policy will put rents at risk, risk jobs and make it so much harder for families to plan their economic futures.” 01 >>> THE GRANTS REPORT
gains discount from 50% to 25%, whilst also limiting negative gearing to newly built investment properties. Modelling by tax accountant H&R Block of the impact of Labor’s proposed changes indicate a taxpayer earning above $80,000 with one or two investment properties would be worse off every year if these investments were made after July 1, 2017. And if the same taxpayer sold one or both properties under Labor’s reduced capital gains tax regime (assuming they were bought after July 1, 2017 and held for at least 12 months) and derived a capital gain, its possible he or she could
be liable for additional income tax in the year of divestment. Analysts warn that for landlords left with a cashflow shortfall, it would not be as easy as just putting up the rent. As both economist Saul Eslake and housing analyst Louis Christopher have pointed out, rents are a factor of supply and demand. Investors who arbitrarily increase rents to make up the cashflow shortfall could risk losing tenants and be left with vacant properties. Such fears might spark a sell-off of investment properties, another trigger for prices to fall.
ARE CHANGES TO NEGATIVE GEARING AHEAD? With both parties reviewing the future of negative gearing, is it time for investors to look at their portfolios with an eye to 2017 and beyond.
“In such a scenario, many investors would probably exit the property market or put up the rent,” says Mark Chapman, director of tax communications for H&R Block..” The Tax Institute, the peak body for tax education, is firmly opposed to Labor’s plans, believing they will remove a key incentive to investment and create a rental crisis. More broadly, it believes any “piecemeal changes” to the tax system will create “distortions and deficiencies”. In a statement this week, the institute said the debate about tax reform was important but urgued a comprenshive
approach designed to maintain incentives to investors to increase rental housing stock. “While we welcome appropriate cuts to income tax and have suggested ways negative gearing could be reformed, cherry-picking reform options without looking at the complete package doesn’t assist the public to make an informed decision about tax reform,” Athanasiou said. This view was echoed by the Reserve Bank of Australia, which in its submission to the Parliamentary Inquiry into Home Ownership last year said it believed there “is a case for reviewing neg-
ative gearing, but not in isolation”. Opponents of Labor’s proposed changes argue that house prices would inevitably have to fall or rents increase (or both) to deliver a meaningful return to investors. Negative gearing – which the Reserve Bank says gives investors the “ability to deduct legitimate expenses incurred in the course of earning income” – offsets the net returns from rental income. Average gross yields on houses are around 3.4 per cent and 4.1 per cent for units, according to CoreLogic RP Data figures for the major capital city markets. THE GRANTS REPORT <<< 02
This quarter’s
SALE HIGHLIGHTS Sales data from 1st January 2016 to 31st March 2016 Street
18 NATREN CRT, BERWICK
SOLD FOR $835,00 Exceptionally positioned home in quiet court on Northside of Berwick.
2 VIEWBRIDGE CLS, BERWICK
SOLD FOR $800,000
Luxury home in sought after location with multiple interested parties.
34 EDRINGTON PARK DVE, BERWICK SOLD FOR $751,000 Exceptional family home close to parks, schools and local shopping.
3 >>> THE GRANTS REPORT
Suburb
Beds Bath Car Area
Price
13 ALEXIA DR
BERWICK
5
3
2
600
$755,000
6 AMBROSE CRT
BERWICK
4
2
2
700
$638,000
9 AMLEY GR
BERWICK
4
2
2
665
$681,000
5 BALANKA CRT
BERWICK
4
2
2
758
$555,000
6 BALFOUR CRT
BERWICK
5
3
2
653
$585,000
34 BALMAIN DR
BERWICK
4
2
2
787
$870,000
30 BERNLY BVD
BERWICK
4
2
2
595
$635,000
36 BOURNEVALE DR
BERWICK
4
2
1
786
$610,000
62 BRISBANE ST
BERWICK
5
3
2
1,012
$960,000
137 BRISBANE ST
BERWICK
4
1
1
2,171 $1,030,000
27-29 CASERTA DR
BERWICK
4
2
4
4,016 $1,200,000
41 CASERTA DR
BERWICK
6
3
3
4,002 $1,200,000
19 CASHMERE CRES
BERWICK
5
2
2
672
$673,000
26 CHEVIOT AVE
BERWICK
3
1
2
803
$440,000
8 CHRISTINE AVE
BERWICK
3
2
2
832
$650,000
12 CLENDON ST
BERWICK
4
2
2
612
$750,000
23 CLOCKTOWER CRT
BERWICK
4
2
2
563
$565,000
54 CLYDE RD
BERWICK
3
1
2
791
$940,000
15A COLLINS CRES
BERWICK
5
2
2
646
$599,999
1 CONDOR CL
BERWICK
4
2
2
620
$690,000
7 CULLEN CL
BERWICK
3
2
2
590
$550,000
24 DOLCETTO DR
BERWICK
532
$309,000
4 EAGLEHAWK DR
BERWICK
4
2
2
821
$935,000
118 EARLSFIELD DR
BERWICK
4
2
2
846
$598,800
11 ELGIN ST
BERWICK
1
1
2
421
$762,000
5 EMBLING ST
BERWICK
4
2
2
628
$645,000
12 EMMA CRT
BERWICK
3
1
2
324
$506,000
6 EMPEROR RD
BERWICK
5
3
4
800
$670,000
10 FIELDHOUSE LANE
BERWICK
3
2
2
790
$540,100
38 FLORENCE AVE
BERWICK
3
2
1
660
$440,000
17 GRAND ARCH WAY
BERWICK
3
1
1
364
$376,400
9 GRANEEL GR
BERWICK
4
3
2
1,310
$869,000
8 HAMDON GRN
BERWICK
4
2
2
608
$635,000
4 HARDY CRT
BERWICK
4
2
3
680
$477,700
19 HAZELDENE CRT
BERWICK
3
1
1
1,123
$720,000
3/187 HIGH ST
BERWICK
2
2
1
195
$467,000
11 HILLGROVE CRES
BERWICK
3
2
2
612
$650,100
20 HILLVIEW PL
BERWICK
4
2
2
800
$680,000
10 HOLLYDALE CL
BERWICK
4
2
2
793
$500,000
21 HOWITT CRT
BERWICK
3
2
2
650
$465,000
22 HOWITT CRT
BERWICK
3
2
1
750
$459,000
Sales data from 1st January 2016 to 31st March 2016 Street
Suburb
Beds Bath Car Area
Price
8 ILLOWRA CRT
BERWICK
3
1
1
341
$400,000
1 INNES CRT
BERWICK
3
2
2
647
$439,000
2 JACQUELINE CRT
BERWICK
3
2
2
560
$550,000
39 JARRYD CRES
BERWICK
3
2
2
551
$450,000
1 JERICHO CRT
BERWICK
3
2
2
532
$425,000
33 KELBURN RD
BERWICK
3
2
2
650
$495,500
1/48 LANGMORE LANE
BERWICK
3
2
2
889 $1,020,000
11 LIBERTY AVE
BERWICK
4
2
2
518
$565,000
6 LODERS WAY
BERWICK
4
2
2
802
$742,000
16 LODGE CRES
BERWICK
4
21
651
$522,000
13 GANAWAY DVE, BERWICK
96 MANSFIELD ST
BERWICK
4
2
1
560
$422,000
Grand home in one of Berwicks most prized positions, walking distance to Lake.
3 MARBELIA DR
BERWICK
3
2
2
508
$542,000
5A MARINA CRT
BERWICK
3
1
2
328
$420,000
13 MARISA CRES
BERWICK
4
2
2
785
$635,000
39 MARLESFORD CRES
BERWICK
3
2
2
615
$510,000
48 MARLESFORD CRES
BERWICK
3
2
3
610
$561,857
22 MCNABB ST
BERWICK
4
3
2
785
$725,000
36 MERIDIAN CCT
BERWICK
3
2
2
313
$455,000
11 MICHAEL CRT
BERWICK
4
2
3
806
$650,000
17 MISTY CL
BERWICK
4
2
2
576
$645,000
19 MONTHAM CL
BERWICK
572
$380,000
110 MOONDARRA DR
BERWICK
4
2
2
624
$565,000
1/17-19 PALMERSTON ST
BERWICK
3
3
2
467
$705,000
1 REGINALD CL
BERWICK
4
2
1
651
$570,000
13/7-9 RESERVE ST
BERWICK
3
2
1
158
$357,000
9 RIDGEMONT DR
BERWICK
4
2
3
646
$769,000
33 RIDGEMONT DR
BERWICK
4
2
2
696
$590,000
10 SELWYN CRT
BERWICK
4
2
2
525
$600,000
38 SHARPE CRT
BERWICK
4
2
2
499
$480,000
33 SITTELLA DR
BERWICK
4
2
2
629
$625,999
57 STREETON WAY
BERWICK
4
2
2
650
$600,000
6 STURROCK CRT
BERWICK
5
2
2
718
$510,000
5 TARAGO CRT
BERWICK
4
2
2
602
$590,000
10 TARRANGOWER PL
BERWICK
3
3
1
242
$493,000
14B TENANDRA CRT
BERWICK
3
2
1
386
$430,000
20 TYNTYNDER CL
BERWICK
4
2
2
650
$535,000
19 TYRELL PL
BERWICK
4
2
2
640
$528,500
19 VALLEY VIEW CRES
BERWICK
4
3
2
628
$582,000
10 BANGALAY CRT, BERWICK
4 VAN DER HAAR AVE
BERWICK
4
2
1
543
$581,000
Well looked after family home in prized pocket of Timbarra.
7 VENABLES CRT
BERWICK
3
1
2
662
$445,750
90 WARD RD
BERWICK
5
2
2
603
$635,000
4 SMITH ST, BERWICK
50$ - BUY 2 AND SAVE 10$ Asperum eatquas everior rovit, seniene cuptaecerit porion est id estia sequam. Code: AB123
SOLD FOR $720,000
19 HAZELDENE CRT, BERWICK
SOLD FOR $720,000 Spacious northside development site with easy access to shopping and local amenities.
SOLD FOR $619,000
THE GRANTS REPORT <<< 4
This quarter’s
SALE HIGHLIGHTS Sales data from 1st January 2016 to 31st March 2016 Street
17 HAZELDENE CRT, BERWICK
SOLD FOR $680,000
Gracious development site in great location popular with family buyers.
33 MC CUBBIN WAY, BERWICK SOLD FOR $690,000
Exceptional home in one of Berwick’s most prized positions.
8 CHRISTINE AVE, BERWICK SOLD FOR $650,000
Spacious family home in ideal location popular with family buyers.
5 >>> THE GRANTS REPORT
Suburb
Beds Bath Car Area
Price
42 WHISTLER DR
BERWICK
5
3
3
768 $902,000
16 WHITEHAVEN ST
BERWICK
3
2
2
312 $495,000
9 WILMOTT CL
BERWICK
3
2
2
508 $500,000
19 BOSTON CRT
NARRE WARREN
4
2
2
560 $526,000
1/5 BRADLEY TCE
NARRE WARREN
3
2
2
212 $375,000
17 BUNBURY AVE
NARRE WARREN
5
2
2
781 $680,000
41 COACHWOOD CRES
NARRE WARREN
4
2
2
794 $631,000
64 DARLING WAY
NARRE WARREN
3
1
3
710 $360,000
25 DONATELLO CRES
NARRE WARREN
4
2
2
399 $486,200
25 DRUMMER LANE
NARRE WARREN
4
2
2
610 $585,000
2 ELLENVALE DR
NARRE WARREN
3
2
2
704 $583,000
2/11 EMERALD CRT
NARRE WARREN
3
2
2
441 $386,000
30 FERNWOOD RD
NARRE WARREN
3
2
1
746 $476,000
31 FLEETWOOD DR
NARRE WARREN
3
2
1
651 $418,000
5 FORSYTH CRT
NARRE WARREN
5
3
2
738 $755,000
28 GARRYOWEN CRES
NARRE WARREN
3
1
2
651 $405,000
3 KENSINGTON PL
NARRE WARREN
5
2
2
648 $610,000
13 KENT RD
NARRE WARREN
3
2
4
726 $460,000
111 KURRAJONG RD
NARRE WARREN
3
2
2
669 $480,000
14 LANTANA DR
NARRE WARREN
3
1
2
597 $374,000
2 MAHON CRES
NARRE WARREN
4
2
3
652 $475,000
17 MANNA GUM CRT
NARRE WARREN
3
2
1
650 $355,000
18 MARAMBA DR
NARRE WARREN
4
2
1
647 $510,000
45 MAYFAIR CRES
NARRE WARREN
3
2
2
659 $570,000
4 MICA CRT
NARRE WARREN
4
2
2
683 $525,000
7 MOLLIS CL
NARRE WARREN
3
1
2
603 $400,000
17 NANDINA RD
NARRE WARREN
3
1
2
652 $370,000
22 RICHARDSON ST
NARRE WARREN
3
1
1
727 $450,000
14 ROSEMONT DR
NARRE WARREN
3
2
2
623 $475,000
7 SALLYBROOK CCT
NARRE WARREN
5
3
2
708 $635,000
29 SALLYBROOK CCT
NARRE WARREN
4
2
5
720 $500,000
3 SHINNERS AVE
NARRE WARREN
3
2
15 STRAWBENT RISE
NARRE WARREN
3
1
1
730 $430,000
24 SWEENEY DR
NARRE WARREN
3
1
1
224 $372,000
22 TINKS RD
NARRE WARREN
3
1
2
672 $412,500
650 $447,500
4 TORWOOD CL
NARRE WARREN
4
2
3
769 $830,000
1 VERSAILLES PL
NARRE WARREN
3
2
2
810 $565,000
6 VICTORY CRT
NARRE WARREN
3
2
2
650 $450,000
Sales data from 1st January 2016 to 31st March 2016 Street
Suburb
Beds Bath Car
Area
Price
12 THE RISE
NARRE WARREN NORTH
5
2
2
718
$605,000
18 ABBEY RD
NARRE WARREN SOUTH
6
4
2
663
$830,000
16A AMBERLY PARK DR
NARRE WARREN SOUTH
4
2
1
410
$423,000
10 BEAUFORD AVE
NARRE WARREN SOUTH
4
2
2
600
$530,000
33 BEAUFORD AVE
NARRE WARREN SOUTH
4
3
2
759 $1,175,000
4 BEGONIA WAY
NARRE WARREN SOUTH
4
2
2
791
$641,000
29 BERWICK SPRGS PROM NARRE WARREN SOUTH
4
3
2
790
$848,000
115 BERWICK SPGS PROM NARRE WARREN SOUTH
5
3
2
650
$660,000
22 BYRON CRT
NARRE WARREN SOUTH
3
2
5
694
$435,000
4 CANET GR
NARRE WARREN SOUTH
4
2
2
650
$510,000
7 CANET GR
NARRE WARREN SOUTH
4
2
7
740
$580,000
42 CHISHOLM CRES
NARRE WARREN SOUTH
4
2
2
584
$450,000
33 CROMFORD CRES
NARRE WARREN SOUTH
4
2
2
673
$530,000
16 CULCAIRN CRT
NARRE WARREN SOUTH
3
2
4
650
$435,000
18 DROVERS RTT
NARRE WARREN SOUTH
4
2
2
657
$460,000
53 ELIDA CRES
NARRE WARREN SOUTH
4
2
2
627
$595,000
13 FERN WAY
NARRE WARREN SOUTH
4
3
3
922
$675,000
24-26 FERN WAY
NARRE WARREN SOUTH
4
2
2
1,831
$857,000
40 FLEET ST
NARRE WARREN SOUTH
3
2
2
493
$416,000
17 HAYDN PL
NARRE WARREN SOUTH
4
2
2
631
$485,000
21-23 HILLSMEADE DR
NARRE WARREN SOUTH
3
2
3
4,033 $1,090,000
11 HILLTOP CL
NARRE WARREN SOUTH
4
2
2
1,805
$870,000
12 JARDINE CRT
NARRE WARREN SOUTH
4
2
2
670
$575,000
10 KENTON WALK
NARRE WARREN SOUTH
4
2
2
550
$510,000
22 KIPPENROSS DR
NARRE WARREN SOUTH
4
2
2
650
$620,000
66 LAKE VIEW DR
NARRE WARREN SOUTH
3
2
2
611
$420,000
3 LOCARNO PL
NARRE WARREN SOUTH
5
2
2
580
$521,000
11 LOCHARD TCE
NARRE WARREN STH
5
2
2
630
$522,500
16 MINTON WALK
NARRE WARREN SOUTH
5
3
5
703
$620,200
6 NAPIER WAY
NARRE WARREN SOUTH
5
2
3
749
$636,000
17 NAPIER WAY
NARRE WARREN SOUTH
4
2
2
610
$595,000
21 NAPIER WAY
NARRE WARREN SOUTH
4
2
2
600
$545,000
19 OAKGROVE DR
NARRE WARREN SOUTH
4
2
2
600
$485,000
86 OAKGROVE DR
NARRE WARREN SOUTH
4
2
2
1,014
$550,000
15 OLIVER CRT
NARRE WARREN SOUTH
4
2
2
504
$520,000
190 ORMOND RD
NARRE WARREN SOUTH
4
2
2
568
$459,000
331 ORMOND RD
NARRE WARREN SOUTH
3
2
2
398
$431,000
335 ORMOND RD
NARRE WARREN SOUTH
3
2
2
599
$457,000
4 SMITH ST, BERWICK
50$ - BUY 2 AND SAVE 10$ Asperum eatquas everior rovit, seniene cuptaecerit porion est id estia sequam. Code: AB123
7 LAWTON GVE, BERWICK SOLD FOR $635,000
Exceptionally presented home in popular area.
39 LESLEY GVE, NYORA SOLD FOR $635,000
Immaculate family home with outsanding floorplan.
8 CASHMERE CRS, BERWICK
SOLD FOR $615,000 Ideally situated home in sought after pocket of Berwick
THE GRANTS REPORT <<< 6
Berwick Sales
Pakenham Sales
Narre Warren Sales
Property Management
berwick@grantsea.com.au www.grantsea.com.au
pakenham@grantsea.com.au www.grantsea.com.au
narrewarren@grantsea.com.au www.grantsea.com.au
rentals@grantsea.com.au www.grantsea.com.au
Grants Estate Agents 3a Gloucester Ave BERWICK VIC 3806 9707 5555
Grants Estate Agents 3/51 John St PAKENHAM VIC 3810 5940 2555
Grants Estate Agents 9 Webb St NARRE WARREN VIC 3805 9704 8899
Grants Estate Agents 1/5 Gloucester Ave BERWCK VIC 3806 98762 6900