Market Update Report B AY S I D E - N O V E M B E R / D E C E M B E R , 2 0 2 0
S O L D - 2 K I N A N E S T R E E T, B R I G H T O N
In the short period of time that the real estate industry has been re-opened after Stage 4 lockdown, it has been heartening to see the rapid increase in activity across all segments of the market.
Our new office on the Mornington Peninsula is off to a flying
The resumption of property appraisals, private inspections and
of ex-pat Australians (480,000 according to Core-Logic)
on-site auctions has allowed buyers and tenants to inspect
returning to the country with funds to purchase property on
properties and bid in person rather than virtually.
start with more than 60 properties already listed for sale after barely a month in operation. The pandemic has inspired many Melbourne residents to opt for a permanent sea change so with the warmer weather and summer holidays looming, we expect the demand for property on the peninsula to only gather momentum. While the pandemic has put immigration on hold, we are seeing housing demand driven up by the vast number
home soil. Australia’s success at managing the pandemic will also likely attract many more high-worth individuals from
In what is normally the busiest selling season of the year, we are experiencing an unprecedented level of pent-up demand. In the first weekend of auctions since restrictions eased, Marshall White achieved a success rate of 83 per cent for our vendors. In addition, there have been numerous private and prior to auction sales since the end of the lockdown. While
badly affected countries seeking to immigrate when permitted. These factors, along with historically low interest rates that are predicted to stay there for a number of years, presents a very rosy outlook for Melbourne’s residential property market. In a year where nothing is normal, we are likely to see property sales continue after Christmas rather than the traditional
many vendors have taken the opportunity to list their home
January hiatus. One thing we have all learnt from the pandemic
for sale, there are still not enough properties on the market to
is the importance of being adaptable and flexible.
satisfy the depth of demand. In particular, the prestige segment of the market across all of our areas is performing exceptionally
All of us at Marshall White wish you and your families the very
well. Within 24 hours in mid-October, we were able to sell two
best of health and we remain available to assist in any practical
separate properties for an excess of $14 million each.
way we can.
From your Local Area Specialists L AST QUARTER IN RE VIEW
While it has been a very challenging time for all Melburnians, the property market has shown remarkable resilience in the face of the many obstacles created by the COVID-19 pandemic. During our first lockdown we were able to adapt and pivot towards online and digital solutions that enabled both vendors and buyers to continue to transact property safely and successfully. There has also been a surge in discreet off market sales. In the brief period when onsite auctions were permitted, the strength of the market was evidenced by auction clearance rates that had returned to the high numbers we saw in the preCOVID months. Despite media predictions, prices have remained relatively stable with quality property performing particularly well. Now that we are heading towards spring, we are experiencing increased traffic on all real estate websites, with buyers hoping for an influx of new property on the market.
Sincerely,
Your Bayside Team
Culture & Lifestyle T H E PA N T RY
A well-known, well-respected and extremely well-loved member of the Brighton community is The Pantry, part of the Church Street landscape for over 20 years. A hub of activity, this place is a daily staple for so many, from the early morning active crowd, to the Friday night dinner regulars enjoying a bottle of rosÊ and a pizza to finish off the working week. Insider tip: The Pantry has become known for hosting The Miele Pantry Cooking Show, with cooking demonstrations from some of Australia’s top chefs, plus a decadent five course degustation dinner. Make sure to book in to the next one.
Iconic Brighton Sale 2 K I N A N E S T R E E T, B R I G H T O N
6
8
9
Sold for an undisclosed price Soaring high above the bay with uninterrupted views and situated on 3,200sqm of land (approx.) the grand-scale landmark home presented as Brighton’s biggest beachside opportunity. Whilst the details of the sale remain strictly confidential, a five week Expressions of Interest campaign, utilising our network of highly-qualified buyers and powerful digital reach technologies, delivered outstanding results, while we practiced social distancing. Marshall White are proud to be the Number 1 prestige property agents in the Bayside area, consistently achieving exceptional results for our clients and taking part in the buying and selling of landmark properties such as these. To discuss what this sale means for the value of your home, or for information regarding the opportunities that our qualified buyer pool may present to you, we welcome your contact.
Marshall White Sales Statistics 1 J U LY – 2 0 O C T O B E R , 2 0 2 0
While it has been a very challenging time for all Melburnians, the property market has shown remarkable resilience in the face of the many obstacles created by the COVID-19 pandemic. During our lockdown we were able to adapt and pivot towards online and digital solutions that enabled both vendors and buyers to continue to transact property safely and successfully. At a time where safety became paramount, we adapted both our services and technologies to continue to support each and every client to achieve their property goals. During the restrictions from 1 July – 20 October 2020, Marshall White were proud to achieve the following outstanding results.
Average sale price $1m+ range
Average days on market
Number of sales above reserve
Total number of sales $1m+ range
Houses
Days
Average
Auction, Private & EOI
$2,479,081
59
43%
213
Bayside Recent Sales B E T WE E N OC TO B E R - N OVE M B E R 2020
Map Ref.
Suburb
Address
Bed / Bath / Car
1
Brighton
34 Lynch Street
4/2/5
2
Brighton
87 William Street
3/2/1
3
Brighton
124 Cochrane Street
4/3/2
4
Brighton
15 Maysbury Avenue
5/3/3
5
Brighton
18 Stewart Street
4/2/1
13
Brighton
Bathing Box 36
7
Brighton
50 Hanby Street
3/2/2
8
Brighton
67 Asling Street
4/2/2
9
Brighton
7 Asling Street
5/2/2
10
Brighton East
36 Robinson Street
5/3/2
11
Brighton East
57 Plantation Avenue
4/2/2
12
Brighton East
10 Tuxen Court
3/2/2
13
Brighton East
43 Centre Road
5/5/3
14
Brighton East
18 Bright Street
5/2/2
15
Brighton East
35 Canberra Grove
4/1/2
16
Hampton
4 The Avenue
4/2/2
17
Hampton
2/2 Prince Street
3/2/2
18
Hampton
6 Kyarra Street
4/2/2
19
Hampton East
2/11 Stonehaven Crescent
2/2/1
20
Hampton East
3/21 Leonard Street
3/3/2
21
Sandringham
31 Victoria Street
5 /4 /4
22
Sandringham
15 Jennings Street
4/3/3
23
Beaumaris
33 Wells Road
4/2/2
24
Beaumaris
158 Dalgetty Road
5/3/2
25
Black Rock
28 Seaview Crescent
3/1/2
Outstanding Sale Results A SELECTION OF RECENT SALES
SOLD
SOLD
SOLD
2 Kinane Street, Brighton
20 Normandy Street, Elwood
15 Maysbury Avenue, Brighton
6
8
9
6
3
4
5
3
3
Sold for an undisclosed price
Sold for an undisclosed price
Sold for an undisclosed price
SOLD
SOLD
SOLD
15 Mills Street, Hampton
3 Talofa Avenue, Brighton East
34 Lynch Street, Brighton
5
2
3
5
3
3
4
2
5
Sold for an undisclosed price
Sold for an undisclosed price
Sold for an undisclosed price
SOLD
SOLD
SOLD
31 Victoria Street, Sandringham
1/5B Dalgetty Road, Beaumaris
67 Asling Street, Brighton
5
4
4
Sold for an undisclosed price
4
3
3
Sold for an undisclosed price
4
2
Sold for an undisclosed price
Connecting you to a better way home We have adapted our services so that we can safely meet your needs marshallwhite.com.au
2
Your Bayside Team 2 2 5 B AY S T R E E T , B R I G H T O N
-
PHONE
9822 9999
Our company culture rewards teamwork resulting in our sales agents working together to introduce buyers to your home. You have the whole Marshall White sales team behind you, each of them working hard to sell your property.
Barb Gregory
Kate Strickland
Andrew Campbell
Stephen Smith
Matthew Pillios
John Bongiorno
Kate Fowler
Robin Parker
Ben Vieth
Simone Howell
Rosslyn Mastrangelo
Simon Monnier-Penny
Dahli Woosnam
Dot Murchie
Campbell Butterss
Kylie Charlton
Caitlin Payne-Clarke
Dean McMurray
Scott Xue
Mathew Ryley
Tas Bartels
Jess Humbert
Amy Todisco
Tayla Hoevenaars
Lucy Arter
Amelia Falvo
Jennifer O’Connell
Luisa Mandaran
Every good conversation starts with listening. Marshall White Foundation is committed to supporting Love Me Love You and their goal to provide support and guidance in the much needed area of mental health and hardship.