Property Market Update Boroondara
Edition 1, 2020 We have experienced a mixed start to 2020 in Real Estate, strong auction 45with Matlock Street, Canterbury success rates and a spike in the number of listings suggesting a strengthening of the market. However, while stock levels remain reasonably high and with many active buyers and sellers in the market, the impact of COVID-19 is yet to be fully realized and the ongoing health of our team, our clients and the community becomes our primary concern. In accordance with the most recent Federal Government guidelines, public auctions will be cancelled with immediate effect. All of Marshall White's current listings will now be offered via an Expression of Interest or Private Sale campaign. Please contact our agents to express your interest in any of our listed properties. We will continue to provide services to our clients in a considered manner and in a way that respects both the prevailing Government guidelines and the needs of all the participants in the Real Estate market. We understand there will be uncertainty, and in some cases increased anxiety, among those who still wish to buy or sell.
Stuart Evans | Director M 0402 067 710 P 8862 4928 E stuart.evans@marshallwhite.com.au
We encourage you to call our agents directly for the most current advice we can provide and outline a possible path forward for your Real Estate needs. All of us at Marshall White wish you and your families the very best of health in these difficult times and we remain available to assist in any practical way we can. Simon Jovanovic CEO, Marshall White Group
From the Agent Stuart's take on the market this quarter
The contrast between the start of 2020 and just 12 months ago could not have been more dramatic. With the recovery consolidating in the last quarter of 2019, we were cautiously optimistic for a good start to the year´s auction season. Although there was an increase in the supply of property, it was not enough to keep up with strengthening demand. Vendors who did list their properties were rewarded with auction success rates over 80 per cent and prices that were above expectations. With yet another interest rate cut, a falling Australian dollar and turmoil in the share market, "bricks and mortar" is becoming once again the investment of choice. The Covid 19 virus has introduced an unknown factor to the property market but first indications are that while demand remains strong many potential vendors are choosing to postpone their decision to sell which will put further pressure on prices.
Boroondara Lifestyle Young's Wine Rooms
Formerly the Young´s Auction House, the 100-year old building is now a versatile wine bar with a Mediterranean food focus. The bar was the exciting passion project of none other than the Klapanis family, the team that brought you East Hawthorn´s St Cloud Eating House and a string of other hospitality hotspots around Melbourne. Using the original structural elements of the longstanding former auction house, Young´s Wine Rooms delivers a multifaceted destination for eating, drinking and entertaining with a dedicated cocktail bar, as well as a modern restaurant and alfresco-style courtyard. From intimate dining tables to large communal dining and bar seating, Young´s Wine Rooms is the perfect meeting place for groups, friends, a romantic night out or a drink from the ever-evolving menu.
45 Matlock Street, Canterbury
Feature Property 45 Matlock Street, Canterbury
The first quarter of the year has been marked by very healthy success rates at auction with many properties being sold prior to auction. Buyers are primed to make a purchase and their only frustration has been the lack of supply. As a consequence a number of quality properties have been snapped up before auction. A stunning luxury family residence at 45 Matlock Street, Canterbury was sold one week prior to a scheduled auction on the 22nd February. The lavishly renovated and extended property was sold for a price of $3,270,000 after being marketed with price expectations of $2,850,000 - $3,100,000.
A Word From My Clients This is the second time in that we have dealt with Stuart Evans over the years and we truly cannot recommend him or the staff at the Hawthorn office more highly. Stuart is the perfect mix of personable and professional and has again made this highly stressful period of selling our property easy - thank you! Guido & Shelley - Edward Street
Deciding on an agent and sales person is a big decision. It was important for us to trust the agent and feel comfortable about discussing any of our concerns at any time. You already had a good relationship with us, having kept in touch with updates on the housing market over several years. When we launched into our campaign, we were similarly impressed. You took us through the process in a step-by-step manner, educating us along the way. We were delighted to sell before auction, it was pleasing that the end result was above our initial expectations. We have no hesitation in recommending you and your team to our friends and neighbours when planning to sell their home. Peter & Kathy - Argyle Road
Some of Our Exceptional Results
13 Nicholsdale Road, Camberwell
45 Matlock Street, Canterbury
5 Albert Street, Surrey Hills
4 3 2 Sold for $2,350,000
4 3 2 Sold for $3,270,000
4 2 2 Sold for $2,290,000
5 Edward Street, Hawthorn
13 Clive Road, Hawthorn East
72 Malin Street, Kew
4 2 2 Sold for an undisclosed price
4 3 2 Sold for $2,850,000
3 3 Sold for $2,031,000
171 Mont Albert Road, Canterbury
7 Camden Road, Hawthorn
86 Argyle Road, Kew
4 3 2 Sold for an undisclosed price
4 3 2 Sold for $4,140,000
4 2 2 Sold for $4,200,000