August report.
Our purpose. To create a place where we can facilitate our people’s growth.
Our values.
Family.
Mutuality.
Realising potential.
Our colleagues are our broader family, assist when needed and when in need.
Respect our colleagues and our clients as you would like to be respected.
Unlock your full potential, encourage and support your colleagues.
Embrace change.
Health and energy.
Strive for excellence; be open minded and willing to embrace change.
Work towards being well balanced within yourself.
August report.
From our corporate director. Dean O’Brien
I'm a believer that money simply moves through different money markets trying to find its next piece of growth. Today’s markets are much the same we have stockmarkets, bank deposits, property, government bonds and to a lesser degree superannuation and to high risk degree cryptocurrency. So where is the money moving to right now? Global stock markets are unscathed due to high vaccination rates occurring across the globe which is the main reason why our aussie markets won’t see much change in the near term, in fact US sharemarkets rose to all-time highs just on Monday and we have seen Aussie travel stocks improve as NSW vaccines hit a milestone 6M dose mark and with the impending NSW Premier likely to announce potential easing restrictions in September later this week. If we look at the property market, it is also strong and looks like it will remain that way with the low interest rate environment until at least 2024 as confirmed by the Reserve Bank. Then there is Bank Deposits and this market is interesting, about 30% of people today still believe that the bank is the best place for their money but the fact is the interest rates are lower than the inflation rate so therefore its safe but your wealth is locked in the reverse gear. People’s are saving are 12.5% up and considering many purchases of cars, tv's and home improvements have already happened we should expect real estate and stockmarket growth will continue to rise nicely over the next 2 to 3 years while interest rates remain as low as they are.
And lastly this graph below depicts the “Dry Argument” we are having with available properties on the market, without being able to conduct one on one inspections at the moment you can understand why listings are so low, the reality will be similar to 2020 that once we open we’ll see stock levels rise and people moving on rather quickly with real estate sales and listings.
This week, domain.com.au reported Melbourne’s auction clearance rate at 47%, which is quite different to other outlets that declared a clearance rate in the 90’s. The difference being the way withdrawn properties are treated, of course with covid some people are deciding to postpone the auction however some outlets are then recording those as unsold properties. The reality is some may pass in and some may sell, either method is not 100% correct but in this week’s case we only have 2 properties pass in. The main edits this week are: So far 112 of the ASX 200 have reported earnings with declared dividends totalling $26.8 billion, up an amazing 93% on a year ago.
“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
We sell more. A snapshot of last months sales.
Average sale price.
$766,587
Sale price. High.
Low.
$1.4M
$257K
Number of suburbs sold in.
Address
Suburb
12 Kings College Drive
Bayswater
4
2
2
$1,360,000
9 Susan Street
Bayswater
3
1
2
$959,000
2/2 Branch Road
Bayswater North
4
3
2
$865,000
37 Blandford Crescent
Bayswater North
4
2
3
$983,599
38 Collins Crescent
Berwick
3
1
4
$580,000
22 Melzak Way
Berwick
3
1
1
$610,000
20 Warrawong Drive
Berwick
3
2
1
$765,000
5 Roundhay Court 21
Berwick
4
2
3
$1,025,000
St Annes Crescent 7
Berwick
4
2
2
$1,035,000
Kerry Close
Berwick
4
2
2
$1,352,000
2 Damar Avenue
Boronia
2
1
1
$638,000
13 Wells Avenue
Boronia
4
2
1
$795,000
7 Janville Street
Boronia
3
1
2
$806,500
8 Roselyn Crescent
Boronia
3
1
2
$870,000
93 Coleman Road
Boronia
4
2
2
$905,000
9 Bradman Court
Boronia
3
1
2
$923,000
46 Pine Crescent
Boronia
4
1
1
$942,000
17 Cornflower Rise
Botanic Ridge
4
2
2
$740,000
31
Sale Price
We sell more. Sale Price
Address
Suburb
31 Royal St Georges Chase
Botanic Ridge
3
2
1
$765,000
8 Carissa Drive
Botanic Ridge
4
2
2
$880,000
125 Station Creek Way
Botanic Ridge
4
3
2
$1,150,000
73 Settlers Run Boulevard
Botanic Ridge
4
3
2
$1,220,000
508/15 Foundation Boulevard 21
Burwood East
2
2
1
$600,000
Protea Street
Carrum Downs
3
1
1
$585,000
34 Pickerel Avenue
Clyde North
4
2
2
$715,000
51 Wallace Road
Cranbourne
2
1
1
$455,000
7 St Mellion Court
Cranbourne
4
2
2
$645,000
28 Brookland Greens Boulevard
Cranbourne
4
2
2
$665,000
51 Camms Road
Cranbourne
5
3
2
$720,000
8 Silvergum Place
Cranbourne
4
2
2
$768,000
21 Pipetrack Circuit
Cranbourne East
4
2
1
$545,000
2 Barham Way
Cranbourne East
3
2
2
$620,000
37 McAllister Drive
Cranbourne East
4
2
2
$670,000
10 Cedarbank Court
Cranbourne East
4
2
2
$726,000
18 Thunderbolt Drive
Cranbourne East
4
3
2
$821,000
10 Wilkiea Crescent
Cranbourne North
3
2
2
$653,000
36 Broome Crescent
Cranbourne North
4
2
3
$680,000
11 Fiona Drive
Cranbourne South
3
2
2
$1,400,000
7 Nerrena Rise
Cranbourne West
4
2
2
$615,000
71 Central Parkway
Cranbourne West
4
2
3
$635,000
Unit 4/56-58 Jesson Crescent
Dandenong
3
2
2
$567,500
We sell more. Address
Sale Price
Suburb
2 Heywood Close
Dandenong North
3
2
2
$901,000
2/70 Edina Road
Ferntree Gully
162 Cranbourne Road
Frankston
3
1
2
$537,500
9 Portview Avenue
Grantville
3
2
0
$257,500
12 Wayne Court
Heathmont
3
1
2
$993,000
3 Eycot Street
Kilsyth South
3
1
2
$765,000
28 Henry Street
Koo Wee Rup
3
1
0
$480,000
133 Moody Street
Koo Wee Rup
3
2
2
$610,000
138 Westernport Highway
Lang Lang
3
1
2
$835,000
3 Banfield Place
Lyndhurst
4
2
2
$690,000
11 Juncus Street
Narre Warren
3
2
2
$560,000
11 Edmonds Street
Narre Warren
3
2
2
$783,000
49 Tralee Circuit
Narre Warren
4
2
3
$1,040,000
4 Nana Walk
Narre Warren South
3
2
4
$630,000
2 Dewsbury Court
Narre Warren South
3
2
2
$705,000
18 Longfield Way
Narre Warren South
4
2
2
$768,000
75 Berwick Springs Promenade
Narre Warren South
4
2
2
$966,000
3/2 Trainor Court
Noble Park
2
1
1
$380,000
12/51 Leigh Drive
Pakenham
2
1
1
$365,000
9 Stanhope Place
Pakenham
4
2
2
$550,000
15 Merivale Close
Sandhurst
3
2
2
$891,000
62 Bayview Crescent
The Basin
3
2
4
$1,000,000
5 Kent Road
The Gurdies
3
1
2
$720,000
$380,000
Land
We lease more. A snapshot of last months leases.
Average weekly rent.
Average monthly rent.
Rental price p/ w. High
$473
Low
$2,056 $1,450 $300
Address
Number of suburbs leased in.
Leased price p/w
Suburb
29
Leased price p/m
2A Burton
Bayswater
3
2
2
$420
$1,825
31 Sherman Drive
Bayswater North
3
2
2
$430
$1,868
47 Fieldstone Blvd
Beaconsfield
3
2
2
$500
$2,173
4 Shannon Way
Berwick
4
2
2
$550
$2,390
4/23 Farnborough Way
Berwick
3
2
2
$350
$1,521
5/23 Farnborough Way
Berwick
4
2
2
$400
$1,738
72 Jarryd Crescent
Berwick
4
2
2
$400
$1,738
24 Masquerade Road
Berwick
3
2
2
$450
$1,955
13 Embling Street
Berwick
4
2
2
$530
$2,303
21 Kuranda Crescent
Berwick
4
2
2
$550
$2,390
58 Grices Road
Berwick
4
2
2
$550
$2,390
19 Romeo Avenue
Berwick
4
2
2
$600
$2,607
18 Jack William Way
Berwick
3
2
2
$460
$1,999
1 Blind Bright Road
Blind Bright
3
1
4
$400
$1,738
210/163-165 Middleborough Road
Box Hill
1
1
1
$370
$1,608
44 Adriatic Circuit
Clyde
4
2
1
$355
$1,543
6 Bentley Lane
Clyde North
2
1
1
$335
$1,456
We lease more. Address
Leased price Leased price p/w p/m
Suburb
10 Pleven Rise
Clyde North
3
2
1
$375
$1,629
15 Flemington Way
Clyde North
3
2
2
$400
$1,738
10 Mabillon Way
Clyde North
4
2
2
$440
$1,912
24 Ayrshire Way
Clyde North
4
2
2
$460
$1,999
24 Karabair Street
Clyde North
4
2
2
$500
$2,173
2/56 Elizabeth Street
Cranbourne
2
1
1
$324
$1,408
18 Violet Way
Cranbourne
3
2
2
$420
$1,825
22 Criterion Way
Cranbourne East
3
2
2
$430
$1,868
1/14 Cook Court
Cranbourne North
3
2
0
$400
$1,738
27 Burford Way
Cranbourne North
4
2
2
$460
$1,999
2 Flanagan Crescent
Cranbourne South
4
2
2
$500
$2,173
20 Roslyn Rd
Cranbourne South
3
2
3
$990
$4,302
10 Woodlands Rd
Cranbourne South
5
2
2
$1,200
$5,215
33 Faolan Way
Cranbourne West
3
2
1
$425
$1,847
Unit 804/80 Cheltenham Road
Dandenong
1
1
0
$300
$1,303
1/96 Berry Avenue
Edithvale
4
4
2
$600
$2,607
109/5-1 Nepean Highway
Elsterwick
2
2
1
$450
$1,955
4/8 Monteith Crescent
Endeavour Hills
3
1
2
$380
$1,651
3 Orkney Close
Endeavour Hills
4
2
2
$430
$1,868
104 Pound Road
Hampton Park
3
1
2
$375
$1,629
We lease more. Address
Leased price Leased price p/w p/m
Suburb
245 Bay Road
Jam Jerrup
3
1
2
$450
$1,955
19B Anne Road
Knoxfield
3
2
1
$460
$1,999
28 Philip Road
Knoxfield
4
2
2
$570
$2,477
2/137 Moody Street
Koo Wee Rup
3
2
2
$360
$1,564
19 Julie Court
Langwarrin
3
2
2
$360
$1,564
110 Shotton Road
Mount Eliza
5
2
3
$1,450
$6,299
2/9 Azalea Court
Narre Warren
2
1
2
$370
$1,608
28 Richardson Street
Narre Warren
3
2
1
$370
$1,608
4 Cobblestone Avenue
Narre Warren
3
2
2
$390
$1,695
272 Golf Links Road
Narre Warren
3
2
2
$440
$1,912
80 Saxonwood Drive
Narre Warren
4
2
2
$465
$2,021
32 Terrapin Drive
Narre Warren South
4
2
2
$385
$1,673
8 Jade Walk
Officer
3
2
2
$360
$1,564
129 Mary Street
Officer
4
2
2
$420
$1,825
7 Addison Close
Officer
4
2
2
$440
$1,912
9 Kooyong Close
Officer
4
2
0
$500
$2,173
3/12 Renlik Court
Pakenham
3
1
2
$350
$1,521
6/40 Army Road
Pakenham
3
1
1
$340
$1,477
18 Parklane Way
Rowville
4
2
2
$420
$1,825
1/3 Sullivan Court
Wantirna
4
2
2
$575
$2,499
ANZ predicts 20 percent house price surge in Melbourne for 2021 The report identified growth in housing finance data and rising investor lending as likely to underpin continued rises but noted increasing issues with affordability would reduce the number of first-home buyers. It also shows that even in the second half of August house prices were rising more than 0.25 per cent a week, about $2000 a week for an $800,000 property.
Melbourne’s property market has been tipped to surge 20 per cent in 2021. Picture: Alex Coppel.
Melbourne house prices will surge 20 per cent across 2021, despite the city enduring four lockdowns since January 1, ANZ has predicted. But Victoria’s peak real estate body has warned homeowners not to temper their expectations.
Real Estate Institute of Victoria vice president Adam Docking said while “achievable” he didn’t think the market would move that much. “With the number of lockdowns that Victoria has had I wouldn’t be confident with the data they will have to project that,” Mr Docking said. Noting that the repeated lockdowns had caused spikes and lulls in activity, he said there was certainly “strong and steady” growth occurring as buyers viewed the market shutdowns as a “hiccup in their quest to buy a property”.
After strong price growth so far this year, the big prediction from ANZ has been revised upwards from March when they tipped 16 per cent growth for the year. In an Australian housing report released yesterday the nation’s third biggest bank noted it was expecting growth to slow in the back end of the year. But senior economist and report author Felicity Emmett said much of the growth had already happened, with the bank’s figures showing an average 1.6 per cent rise in prices every month this year — and a 1.8 per cent increase in July. “We do acknowledge that there are downside risks from the current Delta wave, and there is a chance that prices could come in lower,” Ms Emmett said. “But at the same time, there’s a chance that prices are a bit stronger than we think, given how strong the year has been.
18 Verene Ave, Templestowe Lower, sold more than $100,000 above expectations at an online auction last Saturday. “A lot of people have bought and need to sell, or have sold and need to buy,” Mr Docking said. “So there’s pressure on the buying public, and that’s almost exponentially increased by lockdowns. So we will see, and have seen, price growth when we have a snap opening. “But 20 per cent, to me that’s just a figure. I don’t think anyone can project a percentage this year.” Mr Docking also advised homeowners to be aware that high growth in outer suburbs and the Mornington Peninsula, driven by a rise in working from home, had not been replicated in equal measure around the city.
”222 Dromana Parade, Safety Beach, sold almost
$500,000 above reserve in an online auction last Sunday, despite going under the hammer more than three weeks into a lockdown.
The ANZ has tipped Melbourne’s growth to continue into 2022, when an about 8 per cent rise is likely to top every other capital — except Perth where there are similar expectations. Article Source: www.realestate.com.au
Median land price surges $75k in one growth corridor, falls in others Oliver Hume figures show about 34 per cent of contracts were signed for blocks between 400449sq m in July, but the next most popular tranche was 350-399sq m in size – accounting for 15 per cent of sales. First-home buyers remained one of the strongest market segments, but they are increasingly being forced to compete with investors – even in the state’s new housing estates.
Land estates in Melbourne’s southeast have had major increases in the median lot price as buyers target bigger blocks. Land prices surged almost $75,000 for a typical block in one of Melbourne’s growth corridors in the past year.
“And that’s been helped by the lack of apartment completions, so it’s really only the green field housing market that’s flying,” he said. Land prices have risen dramatically in many regional areas, outside of Geelong where the median block was slightly cheaper than 2020.
But buyers are still ahead of the same time in 2020 in many other areas, despite most block prices slowly following surging established home prices across the city. Figures from Oliver Hume show the median price of a block of land around Melbourne rose $1000 to $324,000 from March to June but is $1000 below the same time in 2020. In Casey the median leapt $74,833 to $419,833, while in Hume housing estates most buyers were paying $314,800 – about $14,000 less than they were a year ago. Oliver Hume national head of research George Bougias said prices were rising broadly, but the more extreme lifts and falls represented shifts in demand for the size of a block of land. “There is no doubt that prices are moving and edging higher,” Mr Bougias said. “And the rest of the year we will probably see prices continue to increase.” He added that the market was still below its peak, set in early 2018, but buyers were still gravitating towards smaller lots. Which is why he was advising against raising prices. “We are warning the sales teams about pushing prices too much,” Mr Bougias said.
In-fill estates like Intrapac’s Kinley development in Lilydale are also attracting high demand. Developer Intrapac’s chief operating officer Max Shifman said land prices were also slowed by rising building costs and a supplies shortage. But buyer demand was still “insatiable” with many turning their back on working full time in the office, driving heavy inquiry even at currently sold-out estates. “We have got over 100 new inquiries a week at Kinley (pictured) in Lilydale, so the number of people expressing interest there is just growing by the day,” Mr Shifman said. They hope to bring a few hundred lots to market at the estate over the next 12 months, starting late this year. Article Source: www.realestate.com.au
Estates in the Casey municipality, like the Orana master planned community in Clyde North launched just over a year ago, have been popular.
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