Jas Stephens Magazine 2 August 2014

2nd August 2014

MARKET UPDATE After signs of softening demand in the previous month, there were more encouraging signals in May. The clearance rate has improved slightly to 70 per cent, there were a record number of auctions, a large number of transactions, ongoing house price growth, and an improvement in market sentiment.

The improved sentiment regarding transactions in May reflected an unusually high number of sales transacted over the month. Historically, the highest number of sales in any given year is recorded in the month of March. However, with nearly 10,700 sales transacted in May, it has surpassed the March figure of 10,400 sales and is now the highest month of the year in terms of transactions.

Yarraville

104 Somerville Road 9316 9000

Williamstown 1/66 Douglas Parade (Corner Stevedore Street) 9393 1600 www.jasstephens.com.au

While sales figures are subject to revision, it is clear that May had a very high number of sales especially considering the record number of auctions held. There were more than 4,500 auctions held in May 2014 which is the highest ever for the month – the previous record was 4,455 auctions in May 2010. With an average of nearly 900 auctions every week in May, the occurrence of ‘super’ Saturdays is becoming the norm.

House prices continue to grow in Melbourne with an increase of another 2.5 per cent in the REIV House Price Index (HPI) in May 2014.

Price growth was evident across all regions, particularly in the middle and outer suburbs. The HPI has now increased by 16.8 per cent since this time last year as the growth cycle continues.

Information courtesy of the REIV Research Bulletin

Craig J. Stephens Managing Director / Officer in Effective Control M 0418 547 938

As a service to our vendors, we will require names & phone numbers on entry of all inspections.

Privacy Act 2000: We use personal information collected from you during open for inspections for security purposes. We may also use that information to contact you with respect to this property and others we believe may be of interest to you.

Also, we may contact you in relation to other services provided by us or our associates such as insurance, mortgages and loans. By providing your information to us you agree to our use of it as described above unless you advise us differently. If the information is not provided we may not be able to provide an effective and comprehensive service to you. (Your personal information will be collected and held in accordance with provisions of the Information Privacy Act 2000).

We have obtained all information in this document from sources we believe to be reliable, however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations.

We strongly recommend that you clearly register your interest with our representative at the open for inspection, so that in the event of a sale being imminent, your position is protected.

We make every effort to contact all interested parties prior to a property being sold.

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ALEX TEEUWSEN Sales Consultant

NATHAN GLEESON Sales Consultant

REECE GOSSTRAY Projects Sales Manager Banbury Village Sales Manager

HELEN CORALLO Personal Assistant for Branko Lemaic & Tate Moore

Mobile 0487 648 159

Mobile 0409 556 584

Mobile 0418 378 276

Mobile 0438 591 785

Email ateeuwsen@jasstephens.com.au

Email ngleeson@jasstephens.com.au

Email rgosstray@jasstephens.com.au

Email hcorallo@jasstephens.com.au

NICOLE GRECH Marketing Manager

LACHLAN MCCRAW New Business Development Manager – Rental Department

DARIA BECK Rental Department Manager

NICOLE SMITH Leasing Consultant Rental Department

SUE STEVENS Property & Finance Consultant

MAX WALLER Director Provincial Home Loans

Mobile 0423 590 508

Mobile 0400 335 498

Direct Line 9316 9007

Direct Line 9316 9039

Mobile 0432 705 815

Mobile 0438 430 436

Email ngrech@jasstephens.com.au

Email lmccraw@jasstephens.com.au

Email dbeck@jasstephens.com.au

Email nsmith@jasstephens.com.au

Email Email suestevens@provincialhomeloans.com.au maxwaller@provincialhomeloans.com.au

Join our successful sales team.

Call Nicole Grech on 9316 9012 to discuss your options.