July report.
Our purpose. To create a place where we can facilitate our people’s growth.
Our values.
Family. Our colleagues are our broader family, assist when needed and when in need.
Mutuality.
Realising potential.
Respect our colleagues and our clients as you would like to be respected.
Unlock your full potential, encourage and support your colleagues.
Embrace change. Strive for excellence; be open minded and willing to embrace change.
Health and energy. Work towards being well balanced within yourself.
July report.
From our corporate director Dean O’Brien
To All, All eyes are on the Reverse Bank with another expected rate increase for august. With the rate of inflation at 6.1% as reported by the Australian Bureau of Statistics last week, there is concern from homeowners on how already tight households’ budgets will cope. The Wage Price Index was also released showing a rise of only 2.7% which is not keeping up with increased expenses and to make matters more challenging the temporary fuel excise cut comes to an end in September. However, there was some good news released in early July from the Albanese Government announcing thousands of new places for the Home Guarantee Scheme. The program has been expanded with 35,000 new places to support first home buyers to purchase a home with as little as a five per cent deposit and 5,000 places to assist single parents with dependents to purchase a home with as little as a two per cent deposit. Corelogic released its July Home Value Index on Monday and nationally prices for all dwellings were down 1.3% with Sydney topping the capital cities, falling the most with a 2.1% drop followed by Melbourne with a 1.3% drop. For Regional Victoria values came off for the second consecutive month falling 0.7% for all dwellings, however units performed better posting a 0.2% gain, regional prices over a rolling 12 month are now sitting at a 12.7% increase. Melbourne and Sydney still remain 8% to 10% above normal stock levels whereas capital Adelaide and Brisbane are still down 30% of available listing which is helping pricing remain firm.
Looking at the rental market, rents in Melbourne again increased on an average of 8% for the month of July for combined dwellings. The signs for the rental market, are pointing towards further rental increases which is being caused by a lack of supply of properties, higher interest rates and the continual increase in overseas arrivals. Economists are forecasting rental price significant gains, some up to 30% over the next 12 months. Renters unfortunately will be challenged equally as much as the prospective owner occupiers in today’s market.
That’s all for this month and remember the information provided is of a general nature you should always seek independent legal, financial, taxation or other advice in relation to your unique circumstances. Regards Dean O’Brien
National Property Clock: +{out,t,�
Entries coloured orange indicate positiona change from last month. l Albany Bathurst
Brisbane Burnie/Devenport
Adelaide Adelaide Hills Albury Barossa Valley Broome Bunda berg Central Coast Alice Springs Karratha Cairns Mackay Darwin Mount Gambier Emerald Perth Esperance Rockhampton Geraldton Shepparton Gladstone S'thn Tablelands
Fraser Coast Hobart Kclgoor lie Newcastle Port Hedland Wodonga
Sunshine Coast Tamworth Toowoomba TownsviUe Whitsunday
Canberra Dubbo
Ipswich Launceston Mildura Sout.h West WA
Geelong lllawarra
•
PEAK OF MARKET • Approaching f Peak o Market
L
e RISING MARKET
•
f Start o Recovery
Starting to • Decline
Ballina/Byron Bay Coffs Harbou r Gold Coast
Melbourne Southern Highlands Sydney
DECLINING e MARKET
Approaching Bottom of Market •
BOTTOM OF MARKET
•
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Entries coloured blue indicate positional change from last month.
Albany Bathurst Burnie/Devenpor t Geelong
Adelaide Ade laide Hills Ba rossa Valley Broome Bundaberg
Central Coast Hobart Kalgoorlie Newcastle Po r t Hedland
Albury Geraldton Pe r th Alice Springs Gladstone Rockhampton r Brisbane Frase Coast Shcpparton Ipsw ich Suns t1ine Coast Cairns Darwin Karratha Tamworth Dubbo N1ackay Townsville Emerald Mount Gambier Whitsunday Mt Gambier Esperance Wodonga Southern Tableands
Gold Coast Launceston Mildura South West WA
•
PEAK OF MARKET • Approac l1ing Peak of Ma rket
e RISING MARKET
L
Start of • Recovery
DECLINING e MARKET
Approaching Bottom of Market •
•
BOTTOM OF MARKET
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Sta r ting to • Decline
Ballina/Byron Bay Melbourne S'thn Highlands Coffs Harbour Sydney lllawarra Lismore
Canberra
We sell more. A snapshot of last months sales. Average sale price.
Sale price. High.
Low.
$840,438
$1.4M
$405K
Address
Number of suburbs sold in.
28
Sale Price
Suburb
12 Terama Crescent
Bayswater
4
2
1
$930,000
10/279-287 Bayswater Road
Bayswater North
3
1
1
$640,000
6 Hammerwood Green
Beaconsfield
4
2
2
$750,000
21 Iceberg Road
Beaconsfield
4
2
1
$630,000
12 McKay Close
Berwick
4
2
2
$1,385,000
9 Hagen Drive
Berwick
3
2
3
$940,000
2 Leonard Avenue
Berwick
3
2
1
$751,000
3 Viewpoint Place
Berwick
4
2
2
$935,000
11 Piermont Drive
Berwick
4
2
2
$1,100,000
11 Belle Circuit
Berwick
4
2
2
$1,180,000
10 Hibberd Court
Berwick
4
3
3
$1,300,000
5 McDonald Crescent
Boronia
2
1
1
$616,500
7 Hazelwood Road
Boronia
3
2
2
$875,000
31 Thornbill Drive
Carrum Downs
3
2
2
$740,000
14 Remedy Drive
Clyde
4 Pump House Crescent
Clyde
4
2
2
$766,000
20 Graziers Crescent
Clyde North
4
2
2
$1,070,000
Land
$405,000
We sell more. Address
Suburb
29 Deoro Parade
Clyde North
4
2
2
$940,000
27 Shimar Street
Clyde North
3
2
1
$635,000
291 South Gippsland Highway
Cranbourne
3
1
3
$631,000
3 Omeara Crescent
Cranbourne East
3
2
2
$640,000
9 Heathland Circuit
Cranbourne East
4
2
2
$600,000
100 Lineham Drive
Cranbourne East
3
2
2
$710,000
46 Abrus Circuit
Cranbourne North
3
2
2
$695,000
117 Lawless Drive
Cranbourne North
3
2
2
$660,000
58 Westmoreland Avenue
Cranbourne North
4
2
2
$820,000
12 Kulkami Way
Cranbourne West
4
2
2
$665,000
19 Marnie Drive
Cranbourne West
3
1
2
$549,861
17 Jaye Place
Cranbourne West
3
2
1
$600,000
174 Craig Road
Devon Meadows
4
4
3
$1,385,000
5 Wakeful Crescent
Drouin
4
2
2
$645,000
711 Burwood Highway
Ferntree Gully
3
1
2
$785,000
8 Cascade Way
Hallam
4
2
2
$700,000
34 Bailey Boulevard
Koo Wee Rup
3
2
2
$635,000
4 Virgona Way
Koo Wee Rup
4
2
2
$715,000
Sale Price
We sell more. Address
Sale Price
Suburb
19 Clarks Road
Lang Lang
4
2
2
$795,000
18 Godwin Avenue
Narre Warren
4
2
2
$790,000
3 Manhattan Mews
Narre Warren
3
2
1
$585,000
6 Tuck Court
Narre Warren
4
2
2
$835,000
1 Cliveden Drive
Officer
4
3
2
$940,000
13 Flemington Rise
Officer
3
2
2
$573,500
4 Old Trafford Way
Officer
3
2
2
$618,222
31 Atherton Avenue
Officer South
5
3
2
$875,000
5 Edmund Street
Pakenham
4
2
2
$700,000
14/18-20 Ben Drive
Pakenham
3
1
2
$490,000
9 Tyrone Avenue
Pakenham
4
2
2
$690,000
113 Smiths Lane
Pearcedale
3
1
4
$1,400,000
6 Mashie Terrace
Sandhurst
5
3
2
$1,450,000
35 Park Lane
Somerville
3
2
11
$875,000
75 Arcadia Avenue
The Basin
2
1
3
$715,000
18 Makitti Close
Tooradin
5
3
2
$990,000
6 Edgeware Court
Wantirna
4
2
3
$1,305,000
42 Alderford Drive
Wantirna
4
2
2
$1,135,000
3 Libra Court
Wantirna South
6
3
2
$1,488,000
70 Gateshead Drive
Wantirna South
4
2
2
$950,000
We lease more. A snapshot of last months leases.
Average weekly rent.
$480 Address
Average monthly rent.
$2,088
Number of suburbs leased in.
Rental price p/w. High
Low
$750
$305
Suburb
26
Leased price p/w
Leased price p/m
3/3 Wallace Avenue
Bayswater
2
1
1
$370
$1,608
16 Iceberg Road
Beaconsfield
4
2
1
$480
$2,086
Unit 10/36 Peel Street
Berwick
3
3
2
$750
$3,259
1/137 Brisbane Street
Berwick
4
3
2
$720
$3,129
25 Kelburn Road
Berwick
3
2
2
$470
$2,042
26 Allunga Parade
Berwick
3
2
1
$450
$1,955
3 Bellevue Drive
Berwick
3
2
1
$460
$1,999
3 Dickson Mews
Berwick
4
2
2
$520
$2,260
43 Saul Avenue
Berwick
4
2
2
$500
$2,173
3/19 Tulip Crescent
Boronia
3
2
1
$520
$2,260
3 Jaffa Court
Boronia
6
4
1
$750
$3,259
204/8 Tulip Crescent
Boronia
2
1
1
$420
$1,825
31 Remedy Drive
Clyde
3
2
1
$420
$1,825
24 Apium Street
Clyde
4
2
2
$520
$2,260
43 Cherokee Parade
Clyde
4
2
2
$500
$2,173
198 St Germain Blvd
Clyde North
4
2
2
$520
$2,260
6 Bentley Lane
Clyde North
2
1
1
$335
$1,456
62 Evica Road
Clyde North
4
2
2
$550
$2,390
We lease more. Address
Suburb
Leased price p/w
Leased price p/m
6 Bentley Lane
Clyde North
2
1
1
$335
$1,456
62 Evica Road
Clyde North
4
2
2
$550
$2,390
280 Heather Grove
Clyde North
4
2
3
$580
$2,520
15 Ventasso Street
Clyde North
4
2
2
$475
$2,064
1 Hurdle Street
Clyde North
3
2
1
$400
$1,738
140 Toner Road
Cora Lynn
3
1
1
$500
$2,173
3/106 Clairmont Ave
Cranbourne
3
2
2
$450
$1,955
7 Jamela Court
Cranbourne
3
2
2
$450
$1,955
12 Artfield Street
Cranbourne East
3
2
1
$390
$1,695
20 Perry Circuit
Cranbourne North
3
2
2
$450
$1,955
36 Arbourlea Boulevard
Cranbourne North
4
4
2
$700
$3,042
18 Tilden Rise
Cranbourne North
4
2
2
$495
$2,151
3/9 Cherryplum Courtt
Cranbourne North
2
1
1
$370
$1,608
54 Linden Tree Way
Cranbourne North
4
2
2
$500
$2,173
Unit 16/220-222 Monahans Road Cranbourne West
3
2
2
$400
$1,738
88 Hayton Park Blvd
Cranbourne West
2
2
2
$410
$1,782
53 Breens Road
Cranbourne West
4
2
2
$465
$2,021
7 Scotland Corcuit
Cranbourne West
4
2
2
$450
$1,955
16/220-222 Monahans Road
Cranbourne West
3
2
2
$400
$1,738
Unit 236/80 Cheltenham Road
Dandenong
1
1
1
$305
$1,325
17 Little Boy Rise
Endeavour Hills
3
1
2
$440
$1,912
118 James Cook Drive
Endeavour Hills
3
1
1
$460
$1,999
12 Charles Green Avenue
Endeavour Hills
4
2
4
$495
$2,151
We lease more. Address
Leased price p/w
Suburb
Leased price p/m
44 Warana Drive
Hampton Park
3
2
2
$420
$1,825
44 Warana Drive
Hampton Park
3
2
2
$420
$1,825
1/530 Tooronga Road
Hawthorn East
2
2
1
$540
$2,346
4 Theresa Avenue
Langwarrin
3
1
1
$450
$1,955
2 Kialoa Court
Narre Warren
4
2
1
$430
$1,868
Unit 2/1 Minett Court
Narre Warren
3
2
2
$450
$1,955
32 Browtop Road
Narre Warren
3
2
2
$450
$1,955
12 Garnet Close
Narre Warren
3
2
4
$450
$1,955
7 Keys Court
Narre Warren
4
2
2
$480
$2,086
12 Garnet Close
Narre Warren
3
2
4
$450
$1,955
2/1 Minett Court
Narre Warren
3
2
2
$450
$1,955
24 Sweeney Drive
Narre Warren
3
1
1
$410
$1,782
19 William Clarke Wynd
Narre Warren South
3
2
2
$430
$1,868
10 Milne Walk Officer
Officer
2
2
1
$390
$1,695
9 Jomon Way
Officer
4
2
1
$430
$1,868
33 Koba Way
Officer
4
2
2
$550
$2,390
32 Ahern Road
Pakenham
3
1
2
$410
$1,782
21 Fraser Street
Richmond
2
2
1
$690
$2,998
30 Timbertop Drive
Rowville
4
2
2
$600
$2,607
10 Sullivan Drive Somerville
Somerville
3
2
1
$540
$2,346
22 Mannix Square
Wantirna
4
2
2
$550
$2,390
65 Lewis Road
Wantirna South
3
1
2
$380
$1,651
8 Maidenhair Drive
Warragul
5
3
2
$580
$2,520
How refinancing your home loan could help fund your dream renovation Thinking of selling up? If it’s been a while since your property had an update, and it’s starting to look more ragged than retro cool, you’re probably wondering how to make your home more sellable. The good news is that as long as the foundations of your home are still in good shape, you might not need to knock down any walls or do a complete renovation to add considerable value. Making your property feel bigger, brighter and more appealing to prospective buyers is often as easy as a lick of paint or swapping out fixtures and fittings for new ones. On the other hand, knowing which improvements won't add value to your potential sale price means you can focus your time and money on those that do. Ready to get started? Here are 13 easy ways to add value if you're thinking of selling your home. 1. Paint Old paint can make your home feel, well, old. But a fresh coat of paint can do wonders. It’ll make your home seem newer, cleaner and more contemporary – and it can easily be done on a tight budget. If you’re willing to spend the time and energy painting your home yourself, you can get away with only paying for the paint, roller and brushes, drop cloths and other painting accessories. Alternatively, if your budget is a little more flexible, pay for the professionals to do it. Just make sure to pick neutral colours that’ll stand the test of time or - at the very least - remove dated colours.
If your budget allows, you could give the exterior of your home a serious revamp by having it repainted. If not, simply painting the front door and sprucing up the front garden, paving and fencing can rejuvenate your home’s facade.
2. Improve the garden and outdoor living areas A goody tidy may be all your garden and outdoor living space need. Cut back overgrown trees, hedges, bushes and foliage, clear up dead leaves, get rid of weeds and dead plants, clean any paved areas, and add fresh mulch if needed.
Parts of your garden may also look better with a bit of work. You could add new plants or flowers to bare patches, chuck in some garden features like sculptures or lighting, or even consider adding a deck or paved area for al fresco dining.
If you have a deck, give it a good scrub and apply a coat of oil to get it looking spick, span and sellable.
5. Give the floors some love Whether you’ve got floorboards, carpet, tiles or something else entirely, any kind of flooring does well with a nice spruce-up to entice buyers.
The same goes for any outdoor furniture, features like barbecues or fire pits, and outdoor dining areas. 3. Add storage Most buyers look for homes with ample storage. This means a good amount of cupboard, cabinet and wardrobe space, shelving, racks, and wall and door hooks. Furthermore, clutter in general is one of the biggest turnoffs for many would-be buyers. So if you’re lacking in storage, many of these are easy and relatively inexpensive to add to your home. You can add wall shelving to rooms like the kitchen, laundry and living area, and hooks to pretty much any room in the home. If you have freestanding wardrobes in the bedrooms, consider changing them to built-ins – these are a big pull for buyers. 4. Improve the facade and landscaping Your home’s facade is likely the first thing prospective buyers will see, and we all know first impressions count.
Have your carpet professionally steam-cleaned to remove stains and get it back to its original glory. There’s only so much cleaning can do, though: if your carpet is too old and far-gone, and the stains are too stubborn, think about replacing it. You could slot in new carpet or go for a different type of flooring, such as hardwood and the price is often less than you think. Given their hardiness and attractiveness, hardwood floors are very popular among buyers. If you have floorboards, have them resanded by a professional. If the budget doesn’t quite stretch that far, you can have them rebuffed and polished to get rid of any nicks.
article source ; www.realestate.com.au
6. Update the heating and cooling A quality heating and cooling system – be it gas or electric – is a huge draw for buyers. This is especially the case if you live in a particularly hot or cold climate.
8. Replace old handles and hardware If your kitchen is stuck in a timewarp, you may not necessarily need to replace the entire thing. By updating the handles and hardware on your cabinets and drawers, you can instantly make a kitchen feel much newer. You can also do this in your bathroom and laundry.
If you already have heating and cooling, consider its age and condition. You might want to upgrade it if it’s been in your home for a long time and isn’t running too well, as buyers will likely look for a modern system that’ll last them years.
Just make sure to go for a timeless hardware material, such as chrome or brass, which will appeal to a more diverse range of buyers. And try to match the style of your new hardware to your existing kitchen, bathroom or laundry – minimalist stainless steel pulls might look a little odd paired with a vintage-style kitchen.
And if your home doesn’t have heating and cooling, be sure to have a decent system installed before you take your property to market. 7. Update the blinds and curtains Blinds and curtains seen better days? It might be time to give them an update. Contemporary window treatments can make your whole home feel different and add value to your property.
9. Replace dated splashbacks Just like new handles and hardware, replacing the splashback in your kitchen cuts the need to do a full kitchen renovation. It can also do a lot to make your kitchen look more modern, especially if you go for a classic splashback style like glass, stone, or neutral tiles laid in a timeless pattern. If you really want to take your new splashback up a notch, and your kitchen is fortunate enough to look out onto a decent view, think about adding a window instead. Along with giving your splashback a significant upgrade, it’ll also welcome lots more light into the space.
If you’ve got old or thick, bulky curtains, think about replacing them with light, airy ones or even shutters or vertical blinds.
10. Replace older toilets and sinks Your bathroom may not need an entire revamp either.
Not only will these give your home a fresher, more modern vibe, but they’ll also let in more natural light – making your home appear airier, brighter and bigger.
As long as the bones are good, replacing your toilet, sink and/or vanity can make a world of difference to the overall look and feel of the space. Go for replacements that are contemporary yet classic to ensure your bathroom is both fresh and timeless. 11. Replace the tapware Even the best-quality taps can look worn after time. A great way to quickly update your bathroom is to simply replace the taps, spout and mixer, and maybe even the showerhead while you’re at it. Choose a style and material that work with your bathroom, even if the space is a little old. You can also replicate this tip in other areas that utilise taps, including ensuites, the kitchen and laundry – we promise it’ll make any room feel more elevated. 12. Update old and broken light switches They’re such a small detail in your home that you may not even consider them, but light switches have a surprising impact on a property’s general vibe. If they’re old and starting to turn yellow after years of use, they can make a home seem more dated than it should. On the other hand, new light switches can make a significant difference. Despite the fact that you’ll need a professional electrician to install them, they’re relatively inexpensive to buy, making them a great budget-friendly way to add value to your home.
article source ; www.realestate.com.au
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