November 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 well balanced yourself.
being within
November report.
From our corporate director. Dean O’Brien
Further Steps To Re-Open Australia This week throughout the entire yearly calendar is commonly known as the most active when it comes to buying real estate and it’s the last week of the year before stock levels start to dramatically scale down for the Christmas festivities shutdown. The big news this week has been the announcement from the Prime Minister that from December 1, international tourists, backpackers, refugees, migrants, students, skilled workers and up 28 other eligible visa holders can re-enter Australia. There are some conditions to entry, mainly being full vaccinated along with a negative covid swab. Quarantine rules won’t be applicable for Victoria and New South Wales however rules will apply for other States and Territories although Japanese and South Koreans are fully exempt.
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. With that news Victoria and New South Wales are looking to reap the most of the economic benefits and with 200,000 people expected to arrive over the year that places more demand on sales and rental properties and prices are likely to increase unless we have more supply coming onto the market.
A big congratulations goes to Michelle on winning our $10,000 Home Improvements giveaway. Thank you to Harvey Norman and all our clients who received a rental or sale market appraisal.
For our next competition over the next four weeks we will be giving away one prize weekly to a family, It’s called our “Very Merry Giveaways, tune into our facebook pages on how to enter. Regards, Dean O’Brien
We sell more. A snapshot of last months sales.
Average sale price.
$813,973
Sale price. High.
Low.
$1.8M
$360K
Number of suburbs sold in.
22
Sale Price
Address
Suburb
711/20 Shamrock Street
Abbotsford
2
2
1
$520,000
9 Sydney Road
Bayswater
4
2
1
$759,000
88 Sasses Avenue
Bayswater
3
1
2
$900,000
22 Pindari Drive
Bayswater
5
2
2
$1,060,000
48 Fieldstone Boulevard
Beaconsfield
4
2
2
$983,333
186 Beaconsfield-Emerald Road Beaconsfield
4
2
10
$625,000
42 Marlesford Crescent
Berwick
4
2
2
$955,000
8 Lawton Grove
Berwick
5
4
5
$1,385,000
6 Blake Street
Berwick
4
2
2
$763,100
42 Jack William Way
Berwick
4
2
2
$890,000
1/58 Palmerston Street
Berwick
3
2
1
$810,000
1/271 Boronia Road
Boronia
3
2
2
$815,000
2/37 Aubrey Grove
Boronia
3
2
1
$725,000
150 Dorset Road
Boronia
3
1
2
$700,000
24 Appletree Rise
Botanic Ridge
4
2
2
$852,000
33 Sandstone Drive
Botanic Ridge
4
2
2
$1,221,600
We sell more. Address
Sale Price
Suburb
38 Macumba Drive
Clyde North
4
3
2
13 Coyote Road
Clyde North
33 Ellaroo Circuit
Clyde North
4
2
2
$775,000
1/4 Haven Court
Cranbourne
3
1
2
$505,000
18 Snead Boulevard
Cranbourne
4
3
2
$1,100,000
5 Coronet Court
Cranbourne
5
2
6
$1,200,000
52 Aleppo Place
Cranbourne
1
1
1
$360,000
12 Harry Street
Cranbourne
3
1
1
$601,500
2/4 Haven Court
Cranbourne
2
1
1
$450,000
8 Ferncroft Court
Cranbourne North
4
2
2
$685,000
23 Austin Street
Ferntree Gully
3
1
1
$904,000
53 George Chudleigh Drive
Hallam
5
2
6
$985,800
Unit 22/3 Young Road
Hallam
3
1
2
$600,000
28 Glendoon Road
Junction Village
3
1
2
$625,000
2/36 David Street
Knoxfield
3
2
2
$866,000
3/10 Valetta Crescent
Knoxfield
3
2
2
$791,000
16 Christie Street
Knoxfield
3
1
1
$953,000
5 Fox Road
Koo Wee Rup
4 Henry Street
Koo Wee Rup
3
1
2
$590,000
13 Grenaroff Walk
Lyndhurst
3
2
2
$586,000
16 Sharan Avenue
Mentone
3
1
2
$1,260,000
Land
$1,250,000 $595,000
Land
$425,000
We sell more. Sale Price
Address
Suburb
16 Bradley Terrace
Narre Warren
18 Bosco Close
Narre Warren
3
1
2
$665,000
7 Moran Street
Narre Warren
2
2
0
$772,000
187 Maramba Drive
Narre Warren
3
2
2
$788,000
12 Columbia Road
Narre Warren
4
2
2
$790,000
1/11 Driftwood Court
Narre Warren
3
1
2
$640,000
15 Minton Walk
Narre Warren South
4
2
2
$760,000
3 Newcastle Drive
Officer
2
1
1
$490,000
28 Wonder Street
Officer
4
2
2
$680,000
16 Barbara Avenue
Officer
2
2
1
$539,000
11/108 Ahern Road
Pakenham
3
1
1
$440,000
37 Edenbrook Circuit
Pakenham
4
2
2
$660,000
3 Bastow Close
Pakenham
3
1
3
$581,000
105 Baxter-Tooradin Road
Pearcedale
3
1
2
$800,000
8 Telopea Street
Wantirna South
4
2
2
$1,190,000
42/61 Fraser Crescent
Wantirna South
2
1
1
$390,550
6 Blind Creek Lane
Wantirna South
4
3
2
$1,336,000
4 Mingana Road
Wantirna South
3
1
2
$950,000
609/404 Burwood Highway
Wantirna South
2
2
1
$490,000
Land
$480,000
We lease more. A snapshot of last months leases.
Average weekly rent.
$436
Average monthly rent.
$1,897
Address
Rental price p/w. High
Number of suburbs leased in.
Low
$580 $290 Leased price p/w
Suburb
19
Leased price p/m
13 Souhail Court
Berwick
4
2
0
$420
$1,825
14 Belmont Road
Berwick
4
3
2
$630
$2,738
17 Pioneer Court
Berwick
3
1
1
$400
$1,738
2/53 Collins Crescent
Berwick
2
1
1
$345
$1,499
24 Wembley Drive
Berwick
3
2
2
$450
$1,955
26 Sing Crescent
Berwick
4
2
2
$500
$2,173
26 St Boswells Avenue
Berwick
3
2
2
$440
$1,912
29 Blake Street
Berwick
4
2
2
$500
$2,173
3 Cowper Rise
Berwick
4
2
2
$580
$2,520
3 Neagle Mews
Berwick
3
2
2
$375
$1,629
12 Burnden Close
Berwick
4
2
2
$450
$1,955
19 Marija Crescent
Berwick
4
2
2
$480
$2,086
7 Hood Court
Berwick
3
1
2
$435
$1,890
3 Salmon Road
Boronia
3
2
2
$500
$2,173
14 Riverwood Drive
Botanic Ridge
3
2
2
$400
$1,738
16 Abundance Circuit
Clyde
4
2
2
$460
$1,999
We lease more. Address
Leased price Leased price p/w p/m
Suburb
12 Cortajalla Avenue
Clyde North
4
2
2
$450
$1,955
25 Frankland Street
Clyde North
4
2
2
$435
$1,890
6 Fleuve Rise
Clyde North
3
2
2
$400
$1,738
13 Cochrane Street
Cranbourne
3
2
1
$430
$1,868
18 Ferndown Drive
Cranbourne
4
2
2
$420
$1,825
4/106 Clairmont Avenue
Cranbourne
4
2
2
$450
$1,955
8 Rawls Street
Cranbourne
4
2
2
$450
$1,955
18 Genevieve Circuit
Cranbourne East
4
2
2
$480
$2,086
52 Criterion Way
Cranbourne East
3
2
2
$430
$1,868
8 Sabel Drive
Cranbourne North
3
2
2
$480
$2,086
9 Hunter Court
Cranbourne North
3
1
2
$430
$1,868
14 Lucinda Lane
Cranbourne North
3
2
2
$450
$1,955
120 Mountainview
Cranbourne North
4
2
2
$500
$2,173
21 Ottawa Walk
Cranbourne West
3
2
2
$460
$1,999
16 Marnie Drive
Cranbourne West
3
1
2
$420
$1,825
1 Stable Court
Endeavour Hills
4
2
0
$450
$1,955
40 Aldridge Street
Endeavour Hills
4
1
2
$430
$1,868
We lease more. Leased price Leased price p/w p/m
Address
Suburb
61 Aldridge Street
Endeavour Hills
4
1
2
$430
$1,868
79 McMahons Road
Frankston
3
1
2
$380
$1,651
34 Millswyn Avenue
Hampton Park
3
1
2
$380
$1,651
6 Beckington Crescent
Hampton Park
3
2
2
$390
$1,695
16 Tarella Street
Hampton Park
3
1
2
$360
$1,564
32 Browtop Road
Narre Warren
3
3
2
$450
$1,955
28 Fleetwood Drive
Narre Warren
3
2
2
$440
$1,912
9 Rahni Close
Narre Warren
3
2
2
$420
$1,825
1/2 Wara Close
Noble Park
3
1
1
$340
$1,477
8/13 Joy Parade
Noble Park
2
1
1
$290
$1,260
14 Millicent Parade
Officer
4
2
2
$440
$1,912
2B Whiteside Road
Officer
3
2
2
$475
$2,064
31 Lexington Crescent
Officer
$380
$1,651
41 Park Orchard Drive
Pakenham
3
1
1
$350
$1,521
1 Ingrid Street
Scoreby
3
1
2
$420
$1,825
8 Kenross Court
Wantirna
4
2
2
$470
$2,042
14 Jacaranda Road
Wheelers Hill
4
2
1
$480
$2,086
Land
PropTrack property market outlook: November 2021 Potential buyers have finally seen the uplift in new listings that they have been crying-out for after a record number of properties came onto the market across Australia’s capital cities in October, and hit a three-year high nationally. Nonetheless, buyers will continue to face tough competition with demand for properties based on the number of views per listing on realestate.com.au reaching historic highs in October 2021. Preliminary weekly count of sold properties
Properties are selling quicker that they were a year ago while the amount of stock available for sale has reduced dramatically. Nationally, the number of total listings remains 19.3% weaker than October 2020. Prices have increased by more than 20% over the past 12 months, while sales volumes and the number of views per listings are also significantly higher. While prices have continued to rise, the rate of growth has slowed from its peak earlier this year, a trend expected to continue. The strong uplift in prices has been driven by record-low mortgage rates and people dedicating more of their income to housing, however, we believe is coming to the end of running its course. The next few months will be interesting to watch. Assuming we continue to see high levels of new stock coming to the market there should be a better balance between demand and supply. Furthermore, with lockdowns ending and social amenities reopening, along with domestic and international travel, we are likely to see people spending more of their income on these types of pursuits which may lead to less being spent on residential housing and further slowing of price growth. How property is fairing across the country Let’s look at housing market conditions throughout the states and territories. • • • • • • • •
New South Wales Victoria Queensland South Australia Western Australia Tasmania Northern Territory Australian Capital Territory
New South Wales Over the past year, dwelling prices in Sydney have increased by 26.6% while in regional NSW prices have increased at a faster pace, up 33.5%. House prices in both Sydney and regional NSW have risen at a much faster rate over the year than unit prices.
Days on site The median number of days on site for properties sold in October remained at an historic low of 24 days in Sydney and reached a new historic low of 31 days in regional NSW. Sydney’s Northern Beaches (17 days) and Eastern Suburbs (19 days) recorded the shortest days on site, while in regional NSW properties sold the fastest in the Illawarra (22 days) and Newcastle and Lake Macquarie (24 days). Views per listing Average views per listing in Sydney fell by 2.7% in October as new listing volumes rose, while in regional NSW views per listing hit fresh historic highs. Sydney’s far west and Blue Mountains region recorded the largest increase in views per listing over the year in the capital, while in regional NSW the Capital region along with New England and North West recorded the largest increases. Victoria Despite lengthy lockdowns, Melbourne property prices have increased by 13.3% over the past year, while in regional areas prices are 24.4% higher. House prices in Melbourne have increased at more than double the rate of units over the past year while in regional Victoria, price growth for houses has been around 5% higher than growth for units. Sales volumes So far this year, preliminary monthly sales volumes in Melbourne are 55.4% higher than they were over the same period last year, while in regional Victoria sales volumes have grown by 38.5%. The west and south east of Melbourne have seen the biggest year-on-year increases in sales throughout the city while in regional Victoria, Ballarat and Latrobe-Gippsland recorded the largest increases.
Sales volumes During the first 10 months of 2021, preliminary monthly sales volumes show there were 43.1% more sales in Sydney than over the same period last year, and 29.8% more sales in regional NSW. Sydney’s inner west and outer south west suburbs recorded the biggest increase in sales, while in the regions, New England and North West, and Far West and Orana recorded the largest increases. Article Source : www.realestate.com.au
Days on site The median days on site hit an historic low in both Melbourne (26 days) and regional Victoria (31 days). In Melbourne, the shortest days on site were recorded in the Mornington Peninsula (21 days) and outer eastern suburbs (23 days), while in regional Victoria the shortest days on site were in Geelong (25 days) and Bendigo (27 days). Views per listing Despite a surge in new listings, views per listing reached new historic highs in both Melbourne and regional Victoria in October. Western and north west Melbourne suburbs have recorded largest year-on-year increases in views per listing while in regional Victoria, views were highest in Geelong and the Warrnambool and South West regions. Queensland Over the 12 months to October, prices in Brisbane have risen by 19.1% compared to a 21.8% rise in regional Queensland. House prices in Brisbane have increased at three times the annual rate of units, while in regional Queensland house prices have risen only slightly faster than units. Sales volumes Over the first 10 months of this year, preliminary monthly sales volumes in Brisbane are 46% higher than they were over the same period last year and in regional Queensland they are 51.6% higher. Ipswich and the inner city have recorded the largest increases in cumulative annual sales in Brisbane while Queensland’s Darling Downs and Maranoa region and Cairns recorded the largest sales uplift in regional areas.
Days on site The median days on site for properties sold in October reached an historic low of 25 days in Adelaide, and a new historic low of 61 days in regional areas. Properties in western Adelaide suburbs recorded the shortest days on site (22 days), while in the regions, properties in the south east were on site for the shortest at a median 49 days. Views per listing Views per listing reached a new record high in both Adelaide and regional South Australia. In the capital, western and central suburbs recorded the large year-on-year increases, as well as the hills region. Across the rest of the state, views per listing more than doubled in the south east region. Western Australia Perth and regional WA has experienced a rapid deceleration in price growth over recent months however, prices are still 8% and 9.3% higher respectively over the past year. Unit price growth has outpaced that of houses in Perth while in regional WA house price growth has slightly outpaced that of units. Sales volumes Preliminary monthly sales volumes in Perth for the first 10 months of this year are 47.5% higher than last year and in regional WA they are 54.6% higher. Perth’s south west and south east regions have recorded the largest year-on-year increases in sales while in regional WA, the southern Outback region and Wheat Belt recorded the greatest lift in
Days on site The median days on site in Brisbane increased from 35 to 38 days in October while regional Queensland remained unchanged at 53 days. In Brisbane, northern (30 days) and southern (31 days) suburbs had the shortest median days on site while in regional Queensland, the Gold Coast and Sunshine Coast had the shortest days on site, at 37 days. Views per listing Both Brisbane and regional Queensland recorded a record number of views per listing in October. In Brisbane, the largest year-on-year increases in views per listing were achieved in Ipswich, Logan and Beaudesert while in regional Queensland, the Darling Downs and Maranoa region and Wide Bay recorded the largest increases. South Australia Property prices have risen 18.3% in Adelaide over the past year, and by 13.8% in regional parts of the state. Unit prices have barely increased over the year in Adelaide with most of the growth coming from house prices. Sales volumes So far this year, preliminary monthly sales volumes in Adelaide are 33.8% higher than over the same period last year, and 38.1% higher in regional areas. Adelaide’s central suburbs and hills region recorded the largest uplift in sales while in regional SA sales have risen by more than 50% in the Barossa, Yorke, Mid North and Outback regions.
Article Source : www.realestate.com.au
Days on site reached a record low of 59 days in Perth during October, while regional WA also hit an historic low of 94 days. In Perth, properties are spending the fewest days on site in Mandurah (50 days) while in regional WA days on site is lowest in the northern Outback region, at 90 days. Views per listing The number of views per listing in Perth in October was 11.5% higher than a year earlier, while in regional WA views per listing reached an historic high. Perth’s Mandurah and north west recorded the largest increases in views per listing over the past year, while Bunbury and the Wheat Belt recorded the greatest increases outside of Perth. Tasmania The rapid price growth across Tasmania remains strong, even after annual growth of 32.5% in Hobart and 31.7% in regional Tasmania. Price growth for houses has outpaced units across all regions, however unit prices are still up more than 25% over the past year across Hobart and regional Tasmania. Sales volumes So far this year, sales are 15.3% higher than last year in Hobart and 20.4% higher than last year in regional Tasmania.
Days on site The median days on site for properties sold in October was 58 days in Darwin and 110 days in regional NT, down from 63 days and 114 days respectively a year ago. Views per listing Over the month there was a 1.7% decline in views per listing in Darwin however, they remained 9.5% higher year-on-year. In regional NT, views per listing fell by 9.7% over the month, remaining 4.4% higher year-on-year. ACT Property prices in Canberra are continuing to climb and have increased by 29.6% over the past year, driven by a 36.2% rise in house prices. Unit prices have risen 14.7% over the year. Sales volumes Year-to-date, the number of preliminary monthly sales has increased by 22.1% compared to the same period last year.
Days on site The median days on site for Hobart increased to 25 days in October, up from September’s historic low of 19 days. Across the rest of Tasmania, properties were on site for a median 38 days – the lowest on record. Views per listing The number of views per listing in Hobart fell by 8.9% in October however, they have increased by 41.7% year-on-year. In regional Tasmania, views per listing rose by 4.2% last month to be 76.4% higher year-on-year. Northern Territory Over the past few months, price growth in Darwin and the regions has slowed however, Darwin prices have still increased by 37.6% over the past year. Prices in regional areas have risen by 8.3% in the 12 months to October. Sales volumes Sales volumes are much higher than a year ago with preliminary monthly sales over the first 10 months of this year 56.1% higher than the same period last year in Darwin and 91.3% higher than a year ago in the regions.
Days on site The median days on site for properties sold across the territory during October reached an historic low of 21 days, down from 25 days a year ago. Views per listing The number of views per listing across the ACT reached a new historic high in October, to be 43.3% higher year-on-year.
Article Source : www.realestate.com.au
Should I sell off market?: Melbourne vendors wipe $30k from sale price in off-market campaigns: PropTrack This could result in it fetching more than $30,000 less on average. “Sellers and agents both want to achieve the highest sale price possible, and we know that creating competition is the best way to accomplish that,” Mr Ryan said. Ray White agent Robert Cincotta said offmarket sales had their perks.
Sellers who try to save on marketing costs by not advertising their home online could be shooting themselves in the foot, research shows.
Melbourne homeowners who sell their property off market could be short-changing themselves more than $30,000, research shows. In regional Victoria the difference between onmarket and off-market sales is even more stark. There, vendors make an average of 5.5 per cent less when they sell their most valuable asset off market, with those who advertise online generally reaping the biggest reward. PropTrack’s Off-Market Sales Performance Report shows off-market sales of metropolitan Melbourne homes in 2019 and 2020 typically made 4 per cent less than those listed on realestate.com.au. Moderately priced homes were the hardest hit by off-market campaigns, according to the data. It showed off-market sales in locations with median prices between $250,000-$500,000 earned 3.7 per cent less than their listed counterparts. PropTrack economist Paul Ryan said saving a few thousand dollars on marketing seemed like an attractive option to some vendors. But those who did not advertise risked limiting buyer demand for their home.
They were a good option for those who did not want to draw attention to their property, which was often the case for high-profile or celebrity clients. It also suited homeowners for whom the sale of their home was a sensitive matter. But he said 80 per cent of the campaigns his agency handled were advertised online. It was also common for vendors who started an off-market campaign to change their mind once they received positive feedback from the market regarding the price. “The greatest fear of any vendor is the unknown and how (their home) is going to respond in the market,” Mr Cincotta said. “But when we start to have a look at some of the offers that start to come through, it really gives the vendors a lot of confidence to go to market online.” His agency ran an off-market campaign for a unit at 2/14 Illowa St, Malvern East. The vendor received offers between $360,000-$380,000, but he said the property ultimately sold for $441,000 after it was listed online. Article Source : www.realestate.com.au
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