31st May 2014
PROPERTY IS A SOLID INVESTMENT Those who have been in the property market for some time invariably have stories of the one that got away – that first home, sold years ago, now worth close to $1 million; or that bargain investment unit in a rundown area, now gentrified and expensive. The REIV has been compiling median house prices for Melbourne suburbs for more than 20 years, making data-based comparisons possible. And while prices in some areas may have gone up significantly, there are also many areas that still have room for growth. Latest figures show that over the past year Melbourne has experienced an 11 per cent gain for median house prices and almost 7 per cent for units.
Yarraville
104 Somerville Road 9316 9000
Williamstown 1/66 Douglas Parade (Corner Stevedore Street) 9393 1600 www.jasstephens.com.au
By comparing prices over the past five years, a likely holding time for many investors and home owners, it’s clear just what an excellent investment property can be. Melbourne’s $643,000 median house price for the December quarter was up 58.6 per cent on the median for that quarter in 2008. And the city’s median unit and apartment price for the same period was up 38.9 per cent on five years ago. While the increases were less dramatic in regional Victoria there, too, property has shown a substantial increase over the past five years. The December median house price of $320,500 was up 25.2 per cent on the same quarter in 2008. The apartment median of $237,500 was up 15.9 per cent. Melbourne’s bayside and eastern suburbs – areas such as Balwyn North, Surrey Hills and Saint Kilda East – have shown the most growth over the past year, but also on the list are popular and well-located suburbs such as Fitzroy North, Blackburn, Ringwood and Newport. If you are house-hunting in coming months, remember to do your research with much of this data (including our own suburb-by-suburb information) provided online. And if you find a location you like, it’s worth broadening your search to surrounding suburbs, which are often more affordable and provide a viable alternative. Armed with the right information, you can more easily find the property to best meet your needs. And, one day, it may end up on the $1million list, alongside some of today’s top houses and suburbs. Information courtesy of the REIV Craig J. Stephens Managing Director / Officer in Effective Control M 0418 547 938
As a service to our vendors, we will require names & phone numbers on entry of all inspections. Privacy Act 2000: We use personal information collected from you during open for inspections for security purposes. We may also use that information to contact you with respect to this property and others we believe may be of interest to you. Also, we may contact you in relation to other services provided by us or our associates such as insurance, mortgages and loans. By providing your information to us you agree to our use of it as described above unless you advise us differently. If the information is not provided we may not be able to provide an effective and comprehensive service to you. (Your personal information will be collected and held in accordance with provisions of the Information Privacy Act 2000). We have obtained all information in this document from sources we believe to be reliable, however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations. We strongly recommend that you clearly register your interest with our representative at the open for inspection, so that in the event of a sale being imminent, your position is protected. We make every effort to contact all interested parties prior to a property being sold.
MEET THE TEAM
Does your career need a new direction? Make the most of opportunities. Positive and motivated sales people needed. Part time or Full time.
ALEX TEEUWSEN Sales Consultant
NATHAN GLEESON Sales Consultant
REECE GOSSTRAY Projects Sales Manager Banbury Village Sales Manager
HELEN CORALLO Personal Assistant for Branko Lemaic & Tate Moore
Mobile 0487 648 159
Mobile 0409 556 584
Mobile 0418 378 276
Mobile 0438 591 785
Email ateeuwsen@jasstephens.com.au
Email ngleeson@jasstephens.com.au
Email rgosstray@jasstephens.com.au
Email hcorallo@jasstephens.com.au
NICOLE GRECH Marketing Manager
LACHLAN MCCRAW New Business Development Manager – Rental Department
DARIA BECK Rental Department Manager
NICOLE SMITH Leasing Consultant Rental Department
SUE STEVENS Property & Finance Consultant
MAX WALLER Director Provincial Home Loans
Mobile 0423 590 508
Mobile 0400 335 498
Direct Line 9316 9007
Direct Line 9316 9039
Mobile 0432 705 815
Mobile 0438 430 436
Email ngrech@jasstephens.com.au
Email lmccraw@jasstephens.com.au
Email dbeck@jasstephens.com.au
Email nsmith@jasstephens.com.au
Email Email suestevens@provincialhomeloans.com.au maxwaller@provincialhomeloans.com.au
Join our successful sales team. Call Nicole Grech on 9316 9012 to discuss your options.