December report.
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December report.
From our corporate director. Dean O’Brien
House price appreciation continues to slow across the country, in December we saw National Median House Prices grow by 1% according to the Corelogic Index. Capital Cities across Australia had varying degrees of growth with Melbourne having its first decline since October 2022 with a 0.1% drop and being the only capital city with no growth for the month. On the other end of the scale Brisbane experienced 2.9% of growth followed closely by Adelaide with 2.6%. (Insert slide below ) Regionally the market again out shone the capital cities with an overall 2.2 growth nationally with Victoria recording another strong 1.8% increase in values which officially caps off a stellar calendar year of growth with an average of 24% across all of Regional Victoria. St Andrews Beach on the Mornington Peninsula was crowned the best performing suburb across all of Australia with a staggering 58.6% annual growth in median house price for 2021.
rental market for Melbourne's property investors continues to improve and that is because rental prices achieved are recovering and continue to shows good signs that growth will continue for another 12 months at this stage. With December being a relatively quieter month for changeover in the permanent rental market we didn’t see a lot of change in the market, but with the busier months of January and February we expect to more activity. Overall rents in Melbourne over the full 12 months of 2021 increased by 4.8% for houses whilst units prices increased of 3.0%. Overall gross rental yields are still above most investment loan interest rates which is another reason why we are seeing investors looking to invest in real estate in 2022.
Nationally, the advertised inventory finished the year 24.7% below the 5 year average, meaning stock levels across the country continued to be in short supply, however Melbourne was the only state to buck that trend finishing 2021 with housing supply being about the 5 year average While stock levels have generally been low, the total number of home sales in 2021 was approximately 40% above the decade average. CoreLogic estimates there were approximately 653,000 house and unit settlements over the calendar year, the highest number of annual sales on record. Regards, Dean O’Brien
We sell more. A snapshot of last months sales.
Average sale price.
Sale price. High.
$845,194
$1.680M $370K
Low.
Number of suburbs sold in.
31
Sale Price
Address
Suburb
155 Obriens Road
Bayles
7
3
6
$1,680,000
41 Tamar Street
Bayswater
3
1
1
$862,000
58 Stoney Creek Road
Beaconsfield Upper
3
2
2
$1,005,300
38 Jack William Way
Berwick
3
2
2
$785,000
5 Goodall Court
Berwick
4
2
3
$1,280,000
23 Hobart Avenue
Berwick
3
2
2
$1,070,000
9 Orsino Place
Berwick
5
5
5
$750,000
29 Fishermans Drive
Blind Bight
3
1
2
$660,000
5 Janville Street
Boronia
3
3
10
$940,000
5 Tormore Road
Boronia
3
2
2
$895,000
1/3 Pascoe Road
Boronia
3
2
2
$908,000
1 Lorikeet Court
Boronia
3
2
2
$880,000
37 Valerie Street
Boronia
3
1
2
$885,000
12 Platypus Rise
Botanic Ridge
4
2
2
$875,000
28 Royal St Georges Chase
Botanic Ridge
3
2
4
$950,000
68 Royal St Georges Chase
Botanic Ridge
3
2
2
$950,000
59 Long Street
Botanic Ridge
3
2
2
$910,000
We sell more. Address
Sale Price
Suburb
30 Beazley Road
Cardinia
4
2
2
$910,000
15 Reflections Boulevard
Clyde North
4
2
2
$935,000
22 Swindale Way
Clyde North
4
2
2
$685,000
249 Heather Grove
Clyde North
1/4 Banks Road
Cranbourne
2
1
1
$452,500
52 Springhill Drive
Cranbourne
3
2
1
$585,250
3 Harpenden Terrace
Cranbourne
4
3
2
$920,000
97 Willow Glen Boulevard
Cranbourne
3
2
1
$586,500
13 Brookland Greens Boulevard Cranbourne
4
2
4
$737,500
4/55 Sunningdale Crescent
Cranbourne
4
2
2
$525,000
5 Hovell Court
Cranbourne
3
1
2
$600,000
2/3 Fairfield Street
Cranbourne
2
1
1
$437,000
4/18 Stawell Street
Cranbourne
2
1
1
$420,000
7 McMahon Avenue
Cranbourne North
4
2
2
$745,000
6 Rocket Lane
Cranbourne North
2
2
1
$370,000
43 Linda Drive
Cranbourne West
4
2
2
$660,000
4/29 Wilma Avenue
Dandenong
2
1
2
$455,000
65 Mcfees Road
Dandenong North
4
1
2
$667,500
30 Sylvia Street
Dandenong North
3
1
2
$680,000
49 Forest Road
Ferntree Gully
2
2
2
$660,000
Land
$650,000
We sell more. Sale Price
Address
Suburb
25 Lapis Street
Koo Wee Rup
6
2
2
$885,000
16 Diamond Drive
Koo Wee Rup
4
2
2
$860,000
3 Francis Crescent
Langwarrin
3
1
1
$595,000
34 Henry Lawson Drive
Lynbrook
4
2
2
$786,000
1 Storm Avenue
Lyndhurst
4
2
2
$1,040,000
Unit 2/481-483 Princes Highway Narre Warren
3
1
2
$526,000
7 Wool Shed Road
Narre Warren South
4
3
2
$1,061,000
25-26 Mack Road
Narre Warren South
4
2
2
$1,650,000
7 Harold Street
Officer
3
2
1
$555,000
5 Quirk Road
Pakenham
4
2
2
$640,000
8 Pearcedale Road
Pearcedale
4
2
2
$1,668,000
2 Hastings Street
Pearcedale
4
2
2
$1,180,000
123 Sovereign Manors Crescent Rowville
3
2
1
$655,000
4/60 East Road
Seaford
3
2
1
$640,000
1/75 McClelland Drive
Skye
3
2
2
$655,000
139 South Gippsland Highway
Tooradin
3
2
2
$800,000
1 Short Street
Vermont
4
1
2
$1,443,500
6 Hassett Court
Wantirna South
4
2
2
$1,355,000
56 Aspect Avenue
Wantirna South
4
2
2
$1,335,000
2/27 White Road
Wantirna South
3
2
2
$880,000
We lease more. A snapshot of last months leases.
Average weekly rent.
Average monthly rent.
$451
$1,960
Rental price p/w. High
Low
$750 $345
Number of suburbs leased in.
23
Leased price p/w
Leased price p/m
2
$460
$1,999
2
2
$400
$1,738
3
3
2
$515
$2,238
Berwick
2
1
1
$345
$1,499
4 Mandalay Court
Berwick
4
2
2
$600
$2,607
4 Santa Monica Place
Berwick
3
3
2
$545
$2,368
5 Raneen Place
Berwick
4
2
2
$430
$1,868
5/17-19 Hazeldene Court
Berwick
0
0
0
$510
$2,216
6/23 Farnborough Way
Berwick
3
2
2
$410
$1,782
7A Bowen Court
Berwick
3
1
0
$380
$1,651
10 Homestead Road
Berwick
3
2
2
$395
$1,716
13 Findon Way
Berwick
4
2
2
$500
$2,173
7 Hood Court
Berwick
3
1
2
$435
$1,890
40A Tormore Road
Boronia
3
2
2
$460
$1,999
13 Saltbreeze Circuit
Clyde
3
2
2
$450
$1,955
95 Athenaeum Avenue
Clyde North
4
2
2
$500
$2,173
Address
Suburb
18 Jeanette Street
Bayswater
4
2
17/2-6 Jerilderie Drive
Berwick
3
19A Hazeldene Court
Berwick
2/39 Bemersyde Drive
We lease more. Address
Leased price Leased price p/w p/m
Suburb
21 Powlett Drive
Clyde North
4
2
2
$450
$1,955
80 Picnic Avenue
Clyde North
3
2
2
$400
$1,738
10 David Avenue
Cranbourne
3
2
2
$370
$1,607
17 Boronia Avenue
Cranbourne
3
2
2
$410
$1,782
4 Rimfire Crescent
Cranbourne
5
2
2
$490
$2,129
6 Greaves Street
Cranbourne
5
2
2
$430
$1,868
20 Sunbird Avenue
Cranbourne
4
2
2
$470
$2,042
47 Artfield Street
Cranbourne East
4
2
2
$420
$1,825
19 Langside Grove
Cranbourne East
4
2
2
$430
$1,868
19 Northumbria Street
Cranbourne East
4
2
2
$470
$2,042
26 Yellow Robin Circuit
Cranbourne East
3
2
2
$410
$1,782
30 Botany Way
Cranbourne East
4
2
2
$450
$1,955
8 Criterion Way
Cranbourne East
3
2
2
$400
$1,738
8 Tarwin Place
Cranbourne East
3
2
1
$400
$1,738
120 Mountainview Blvd
Cranbourne North
4
2
2
$500
$2,173
14 Lucinda Lane
Cranbourne North
3
2
2
$450
$1,955
2 Brentwood Court
Cranbourne North
3
1
2
$395
$1,716
7 Dianne Court
Cranbourne North
3
2
2
$450
$1,955
15 Phillip Court
Cranbourne North
3
1
2
$430
$1,868
4 Yorkshire Drive
Cranbourne North
4
2
2
$525
$2,281
1 Bursaria Lane
Cranbourne West
3
2
1
$420
$1,825
11 Gladesville Court
Dandenong North
3
1
0
$430
$1,868
12 Gunns Road
Hallam
3
2
2
$470
$2,042
5 Oaktree Drive
Hampton Park
3
2
1
$395
$1,716
We lease more. Address
Leased price Leased price p/w p/m
Suburb
29 Natren Court
Harkaway
4
2
2
$600
$2,607
5/30 Warrenwood Place
Langwarrin
2
1
1
$380
$1,651
17 Parslow Cres
Lynbrook
5
2
2
$540
$2,346
5 Rahni Close
Narre Warren
3
2
2
$440
$1,912
10 Hansen Court
Narre Warren
4
2
2
$500
$2,173
18 Culcairn Court
Narre Warren
3
2
2
$405
$1,760
2 Dewsbury Court
Narre Warren
3
2
2
$440
$1,912
3 Warren Close
Narre Warren
2
1
1
$380
$1,651
4 Clarrisa Court
Narre Warren
3
2
4
$500
$2,173
8 Hillbrick Court
Narre Warren
3
1
2
$380
$1,651
9 Franleigh Drive
Narre Warren
3
2
2
$420
$1,825
21 Minton Walk
Narre Warren South
4
2
2
$500
$2,173
13 Fairweather Parade
Officer
3
2
2
$390
$1,695
16 Addison Close
Officer
3
2
2
$410
$1,782
247 Princess Highway
Officer
3
2
2
$460
$1,999
5 Fairchild Place
Pakenham
4
2
2
$450
$1,955
9 Hunter Lane
Pakenham
3
2
2
$390
$1,695
2/17-19 Bardia Street
Ringwood
2
1
1
$410
$1,782
105/85 Market Street
South Melbourne
1
1
1
$375
$1,629
5 Tooradin Esplanade
Tooradin
3
4
2
$750
$3,259
2 Cameron Court
Wantirna
3
1
1
$450
$1,955
27 Newcombe Court
Wantirna South
4
2
2
$550
$2,390
8 Telopea Street
Wantirna South
3
2
2
$500
$2,173
An historic year for housing: 10 property market records set in 2021 Eleanor Creagh In 2021, strong demand, low supply and low interest rates combined to drive the fastest pace of price growth in more than three decades. Price growth, views per listing, days on site and preliminary weekly sales volumes all broke records, while the number of suburbs in the $3-million club tripled. Below we count down about the property records set in the year that was. . . 10. Mortgage rates hit historic lows Low interest rates and near-zero real mortgage rates spurred record demand for property, pushing prices higher Australia wide. Home lending growth gathered pace, and new lending and refinancing drove total housing finance commitments to an all-time high.
9. Listings hit historic lows Earlier in the year active (total) for sale listings on realestate.com.au hit an historic low after falling 3.3% in June 2021. However, as lockdowns have lifted and restrictions have eased, the yearend has brought three consecutive months of increased listings, with November bringing decade highs for new listings in capital cities. December is already proving a markedly different environment to much of this year. The end of lockdowns combined with extraordinary price growth has given sellers the confidence to list.
8. Demand hit record highs Low rates, shifting lifestyle preferences, an influx of expats, low supply of properties for sale, forced savings and government support measures have all fueled Australia’s appetite for property. The combination of the above not only drove demand to record heights, it also pushed prices to new highs. 7. Prices rose at the fastest pace in more than three decades In the year to November, dwelling prices rose 23% in capital cities and surged by 30% in the regions. Not only has this spate of price growth been the fastest in more than three decades, in real terms it’s the thirdfastest growth run in a century. Sydney is still the most expensive market by a long shot, but across the country seven-figure searches are the new normal and the share of searches for properties priced at or above $1 million is at a record high.
6. Properties sold at record speed across the country. Buyers faced tough competition for much of this year. With the supply of properties for sale at low levels, many were forced to make quick decisions, in some cases paying large premiums. In November, the median number of days a property was listed on realestate.com.au before we selling was at an historic low of 30 days. Days on site was at record low levels in 32 out of 88 SA4 regions across the country. November also saw a record low days on site in Adelaide, Canberra, Regional NSW and Regional Tasmania. The recent increase in supply of properties for sale has cooled some of the extreme competition. The increase in new listings has given buyers extra choice, with the monthly pace of price growth already slowing. This year has well and truly been a “sellers’ market”, and though buyers continue to outweigh sellers, there are signs that balance may be slowly shifting.
Article Source : www.realestate.com.au
4. Demand for luxury property soared Lockdowns and the delta variant were no match for demand for luxury property. Australia’s $3-million suburb club doubled again in 2021, as surging household wealth, strong savings and low rates allowed many to take on more debt, pushing house prices higher. Closed international borders and more time at home saw some reassessing their housing needs, with Australians and returning expats opting for lifestyle and wellbeing upgrades. As a result, demand for lifestyle and coastal properties surged through the pandemic. Whether it was a luxurious abode to work from home, or a holiday pad in locked-up Australia, this increase in demand saw the $3-million club surge.
5. Sales volumes soared Sales volumes hit record highs for much of this year. In the first weeks of December, sales volumes clocked the 8000 mark for the first time, according to PropTrack data.
Article Source : www.realestate.com.au
Article Source : www.realestate.com.au
3. Capital cities clocked a record net loss of people In the March quarter of this year, data from the ABS showed capital cities recorded a net loss of 11,800 people – more than double the decade average and the largest quarterly loss on record. This was also was prior to the arrival of the delta variant. Taking advantage of remote working, many opted for that sea or tree change, with a net 43,000 people exiting capital cities in favour of regional areas. That was the biggest net influx to the regions since Australian Bureau of Statistics records began in 2001.
Not only have government support measures provided an exceptional buffer to households, but the increase in the value of non-financial assets, housing, and non-monetary financial assets, equities, has been equally as formidable. In addition, the household saving ratio increased to 19.8% from 11.8% in the June quarter – a sizeable cushion in the event of continued disruption. According to the ABS, total household wealth (net worth) rose by $590 billion, or 4.4%, hitting an all-time high $13.92 trillion in the September quarter. That’s up 20.2% on a year ago – the largest annual gain in more than a decade. With the labour market recovering quickly and the economy rebounding from its delta-induced dip, this wealth effect should continue to drive a strong economic recovery into next year. In property, with many current homeowners having accumulated substantial equity gains, this should support upgraders and transactional volumes in 2022. Though the pace of price growth in 2022 will be no match for 2021’s record-breaking speeds.
2. Demand for regional property soared, fueling record-breaking price growth With both net regional and interstate migration trending above long run averages, the regions have seen record price growth this year. Combined regional housing markets have outperformed combined capital cities in terms of price growth. It’s no secret low rates have seen demand for property up nationwide, but regional markets were the standout as a unique combination of circumstances supersized demand for regional locations. The remote work boom made relatively affordable regional areas all the more enticing. The pandemic also had a profound impact on lifestyle wants and housing needs, with many seeking more space and larger homes in regional areas.
1. The value of Australian housing hits a record $9 trillion The forces outlined above have resulted in the value of Australian homes (and the wealth of homeowners) surging in 2021 Data from the Australian Bureau of Statistics (ABS) shows the total value of Australia’s housing stock has surged almost $500 billion in the past three months alone to hit an all-time high of $9.26 trillion.
Article Source : www.realestate.com.au
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