20th September 2014
RECORD MEDIAN PRICES IN MELBOURNE Melbourne house prices have risen to a new record median of $658,000, with the city’s median price up 3.3 per cent over the three months to 30 June. Real Estate Institute of Victoria CEO Enzo Raimondo - releasing the REIV’s quarterly results today – said that the record median capped off a strong year for the city’s property sector. “The Melbourne market remains strong and continues to show solid gains,” he said. “The housing sector has delivered a 16.7 per cent year on year increase.
Yarraville
104 Somerville Road 9316 9000
Williamstown 1/66 Douglas Parade (Corner Stevedore Street) 9393 1600 www.jasstephens.com.au
“Unit and apartment prices also grew – by 9.1 per cent year on year - with the June median also a record at $502,000.” Mr Raimondo said growth had slowed, but was still steady. The median house price was up from $637,000 in the March quarter - however the quarterly 3.3 per cent increase was lower than the 9 per cent recorded in the September quarter last year. “It was the city’s middle ring suburbs, highly sought after by buyers priced out of the inner-city, which showed the most substantial house price growth,” Mr Raimondo said. He added that there had also been high-rise growth, with apartments benefitting from increases. “Apartments in the inner-city, which had previously suffered from an oversupply, also showed strong growth as Melburnians embrace inner-city apartment living. This sector grew by more than 3 per cent in the June quarter,” he said. The middle Melbourne house price of $720,000 was up 1.8 per cent in the June quarter but represented 15.8 per cent year-on-year growth. Inner-city house prices grew 12.1 per cent year-on-year, while for the outer suburbs the figure was 10.4 per cent. Mr Raimondo said that low interest rates, which have been on hold for 11 months, and strong investment had helped to push Melbourne house and apartment prices to higher levels this quarter. Information courtesy of the REIV. Craig J. Stephens Managing Director / Officer in Effective Control M 0418 547 938
Jas H Stephens Pty Ltd (Jas Stephens) is bound by and adheres to the Australian Privacy Principals (“Principals”) contained in the Privacy Act 1988. Those Principals regulate most of our activities with respect to personal information collected, stored, used and disclosed by is. Our full privacy policy can be found at www.jasstephens.com.au. The purpose for which we may collect, hold, use and disclose your personal information are:-for security reasons- to keep a record of who has attended open inspections; to contact you in respect of the property and other properties we believe may be of interest to you; to provide you with a contract of sale and other documents you may request; to update you generally through the course of the campaign. We may also use your personal information to market other properties which we think may be of interest to you and to send you marketing material from our agency. You can always “opt out” if you do not wish to receive marketing material. By providing your personal information you consent to us using your personal information as described above. If you choose not to give us your information, we may not be able to provide an effective service to you. Your personal information is stored in a combination of computer facilities and paper based files and other records, which are located on site at our office and off site at secured premises. If you would like to discuss how we manage your personal information or complain if you think we have breached the Principals or to update/correct the information we are holding please call 9316-9000 or email privacyofficer@jasstephens.com.au 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.
MEET THE TEAM
Does your career need a new direction?
ALEX TEEUWSEN Personal Assistant to: Terry Fitzpatrick, Anna Grech & George Alexander
Make the most of opportunities. Positive and motivated sales people needed. Part time or Full time.
NATHAN GLEESON Sales Consultant
REECE GOSSTRAY Projects Sales Manager Banbury Village Sales Manager
HELEN CORALLO Personal Assistant for Branko Lemaic & Tate Moore
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
Mobile 0487 648 159
Join our successful sales team. Call Nicole Grech on 9316 9012 to discuss your options.