The Melbourne Market Today
rate, remaining at 1.4%. The weekly median for rent for houses stayed at $525, while it rose to $495 for units - the highest on record. First home buyer loan pre approvals, make up 80% of the current pre approvals, with the balance being mainly up sizers. Houses, townhouses and units that are close to amenities such as train stations, shopping strips and bike trails are seeing bigger jumps in prices.
As we come off the back of 12 months of interest rate rises, many buyers have settled into the new lending norm. Development has slowed significantly due to the increased labour and material costs, immigration targets are aggressive, low vacancy rates and increasing rent are the biggest influencers of the increased demand for established homes. In Metropolitan Melbourne over the same period, vacancy rates remained at 2.1%, as did Outer Melbourne’s vacancy
The March quarter saw the bottoming out of the market, and there are clear signs of increasing prices. So, if you’re looking to buy, you may want to act fast, as properties are being snapped up quickly. If you’re selling, you may be able to get a good price, but be sure to price your property competitively in order to attract interest.
The Barry Plant Darebin and Merri Bek team are here to assist with any of your real estate needs. Please reach out and we will be more than happy to help.
OurmarketupdateisbasedondatasubmittedbyREIVmembers
WINTER 2023
The relatively low supply of properties and the increasing demand for established homes is driving the Melbourne real estate prices up, and this trend is expected to continue in the near future.
MEET MELBOURNE’S INNER NORTH LEADERSHIP TEAM OUR OFFICES MARKET WRAP RECENT SALES PROPERTY MANAGEMENT COMMUNITY NEWS If your property is exclusively listed with another agency, please disregard this communication. JESSE DOLCETTA INNER NORTH DIRECTOR, AUCTIONEER M 0432 499 509 E jdolcetta@barryplant.com.au HARRY KONTOSSIS RESERVOIR DIRECTOR, AUCTIONEER M 0419 337 719 E hkontossis@barryplant.com.au ROCCO SICILIANO COBURG/BRUNSWICK DIRECTOR, AUCTIONEER M 0408 348 032 E rsiciliano@barryplant.com.au DAVID DEVLIN COBURG/BRUNSWICK DIRECTOR, AUCTIONEER M 0418 343 469 E ddevlin@barryplant.com.au LORETTA KHOO INNER NORTH DIRECTOR, AUCTIONEER M 0437 751 641 E lkhoo@barryplant.com.au
Market Wrap 509 High Street, Northcote 295 Spring Street, Reservoir 450 Sydney Road, Coburg 1/32-34 Lygon Street, Brunswick
OUR OUTSTANDING RECENT SALES WINTER 2023 DAREBIN & MERRI-BEK MARKET WRAP BARRYPLANT.COM.AU 3 • 2 • 1 • 146m2 SOLD $1,847,500 2 • 2 • 2 • 543m2 SOLD $1,960,500 4 • 3 • 6 • 146m2 SOLD $1,875,000 4 • 2 • 2 • 634m2 SOLD $1,055,000 3 • 2 • 4 • 157m2 SOLD $805,000 3 • 1 • 2 • 300m2 SOLD $1,260,000 3 • 1 • 1 • 502m2 SOLD $965,000 3 • 2 • 1 • 170m2 SOLD $1,350,000 3 • 1 • 2 • 560m2 SOLD $1,355,000 4 • 3 • 2 • 575m2 SOLD $1,280,000 3 • 2 • 2 • 540m2 SOLD $1,556,000 3 • 1 • 2 • 548m2 SOLD $995,000 3 • 1 • 2 • 613m2 SOLD $1,520,000 4 • 1 • 1 • 384m2 SOLD $1,295,000 3 • 1 • 2 • 744m2 SOLD $1,140,000 BRUNSWICK EAST 1 SEDGMAN STREET COBURG 62 WALSH STREET RESERVOIR 75 NORTHERNHAY STREET FAWKNER 12 PERCY STREET RESERVOIR 3/1A ARGYLE STREET COBURG 75 REYNARD STREET RESERVOIR 9 ARBOR AVENUE COBURG 88A REYNARD ST COBURG 17 SHACKELL STREET COBURG NORTH 13 NEWLANDS ROAD COBURG NORTH 13 GOLF ROAD RESERVOIR 31 GILBANK STREET COBURG 8 PRESTON STREET COBURG 46 STAWELL STREET RESERVOIR 9 ARMSTRONG STREET
OUR OUTSTANDING RECENT SALES WINTER 2023 DAREBIN & MERRI-BEK MARKET WRAP BARRYPLANT.COM.AU 3 • 1 • 2 • 540m2 SOLD $1,650,000 2 • 1 • 2 • 385m2 Sold $1,460,000 4 • 1 • 2 • 536m2 SOLD $1,420,000 3 • 1 • 1 • 463m2 SOLD $1,501,000 3 • 1 • 1 • 386m2 SOLD $1,410,000 3 • 2 • 1 • 852m2 SOLD $1,675,000 3 • 1 • 2 • 479m2 SOLD $1,451,000 3 • 1 • 2 • 550m2 SOLD $1,245,000 3 • 2 • 2 • 218m2 SOLD $1,220,000 5 • 3 • 6 • 1,150m2 SOLD $1,160,000 3 • 1 • 3 • 86m2 SOLD $850,000 3 • 2 • 2 • 463m2 SOLD $1,350,000 4 • 2 • 2 • 350m2 SOLD $1,611,000 3 • 1 • 186m2 SOLD $1,200,000 5 • 4 • 2 • 713m2 SOLD $1,500,000 If your property is exclusively listed with another agency, please disregard this communication. RESERVOIR 39 SOUTHERNHAY STREET NORTHCOTE 59 JENKINS STREET THORNBURY 121 FYFFE STREET NORTHCOTE 44 CHRISTMAS STREET THORNBURY 74 MARTIN STREET PRESTON 7 MT PLEASANT ROAD THORNBURY 234 MANSFIELD STREET RESERVOIR 38 SOUTHERNHAY STREET PRESTON 41A JACKA STREET RESERVOIR 72 RADFORD STREET KINGSBURY 12 HIGHLAND STREET PRESTON 14 HAWKING STREET RESERVOIR 18 FOCH STREET NORTHCOTE 139 BEAVERS ROAD RESERVOIR 70 SOUTHERNHAY STREET
INVESTMENT PROPERTIES UNDER MANAGEMENT
MEDIAN DAYS ON MARKET
PROPERTY MANAGEMENT STAFF
SHELLI MARTIN
HEAD OF PROPERTY MANAGEMENT - INNER NORTH
M 0413 275 249 E smartin@barryplant.com.au
CHRIS KONTOSSIS
HEAD OF PROPERTY MANAGEMENT - RESERVOIR
M 0422 215 414 E ckontossis@barryplant.com.au
COMMUNITY NEWS
BREA NICOLAIDES
PORTFOLIO MANAGER - COBURG/BRUNSWICK
M 0403 707 555
E bnicolaides@barryplant.com.au
HOLY SPIRIT THORNBURY FETE
197 Clarendon Street, Thonbury VIC 3071
Come join us as a Platinum Sponsor of the Holy Spirit Primary School East Thornbury Community Fete on Sunday 15th October 10:30am to 3:30pm. Meet the school community, local businesses and have a fun day out for you and your children.
KINGSBURY UNITED SOCCER CLUB
15 Johnson Street, Reservoir, VIC 3073
Barry Plant Reservoir are proud sponsors of the Kingsbury United Soccer Club. The club has steadily developed as a go-to club for young people in the area, with membership numbers increasing year on year. Since 2016, the club proudly provided an inclusive atmosphere for families and the broader community by providing affordable playing options during the soccer season and a 10-week free soccer program for all juniors in the off-season.
SANTA MARIA COLLEGE
50 Seperation Street, Northcote VIC 3070
Year 7 2025 applications now open, very limited places for Year 7 2024.
Santa Maria is a progressive, inclusive Catholic secondary school for girls where learning is lifelong, purposeful and authentic. Santa Maria promote a culture of academic excellence and personal growth through the MYP, evident in our outstanding, top-performing VCE results and future pathways for senior students.
PROPERTY MANAGEMENT
If your property is exclusively listed with another agency, please disregard this communication.