NELSON UPDATE YARRA UPDATE Banyule Banyule
Boroondara Boroondara
Darebin Darebin
Melbourne Melbourne
Moreland Moreland
Moonee Moonee Valley Valley
Yarra Yarra
Winter Winter2015 2015nelsonalexander.com.au nelsonalexander.com.au
E A G LI A AR RA EI L T R ST US E A B IN 15 Y 20 NC E G A
HOW DO YOU STACK UP? PROPORTION OF PROPERTIES SOLD: APARTMENTS/UNITS AND HOUSES Apartments/Units Houses 30%
70%
Median sale prices are very useful in comparing suburbs, and in understanding historic changes. But, median price is just one metric – to truly appreciate individual suburbs, and how they relate to their surrounding area, it’s best to delve a bit deeper… Across Melbourne’s Inner North (about 50 suburbs), between April 2014 - March 2015, one quarter of properties sold for under $460,000; one quarter sold for $460,000 to $630,000;
All Inner North Area
one quarter sold for $630,000 to $840,000; and, the remaining 57%
43%
Melbourne Area
25%
one quarter of properties sold for over $840,000.
PROPORTION OF PROPERTIES SOLD IN DIF 75%
Moreland Area
Under $460,000
$460,000 to $630,000 15%
29%
71%
25%
31%
Darebin Area
39%
28% 61%
25%
$630,000 to $
21%
23%
19%
Yarra Area 25% 25%
29%
26%
30%
28%
30%
Melbourne Area
Moreland Area
Darebin Area
20%
75%
Banyule Area 25% 29%
71%
Moonee Valley Area
All Inner North
With this in mind, we’ve looked at the sales profile of the areas we operate in to better appreciate the differences between them, and how the area compares to the wider Inner North. The price range mix in the Darebin and Moonee Valley areas are broadly comparable to that seen across Melbourne’s Inner North. Much of this can be explained by the property mix seen in these areas – roughly 3 in 10 properties sold are Apartments / Units. In an area like Banyule, we see that nearly 3 in 4 properties sell for over $630,000 (compared to 2 in 4 across Melbourne’s Inner North). Banyule is a beautiful region, but much of this skew has to do with the higher proportion of Houses found in this area.
FFERENT $ PRICE RANGES
$840,000
Common sense tells us that Houses tend to
Over $840,000
sell for more than Apartments / Units.
31% 49%
44%
So median prices are useful, but other metrics provide a deeper understanding of what makes each suburb unique. In future editions, we look forward to sharing analyses around demographics, infrastructure, schools, etc.
26%
26%
27% 22%
12%
21%
13%
9%
Yarra Area
Banyule Area
21% Moonee Valley Area
Property Analytics provides independent statistical information to real estate professionals throughout VIC and NSW, and acts as a Licensed Buyer’s Advocate for property investors and developers who seek above-market capital growth (www.propertyanalytics.com.au). Analysis is based on data from RP Data / Core Logic, Australian Property Monitors, Real Estate Institute, Valuer General, and Australian Bureau of Statistics April 2014 - March 2015
School Access: An important driver of capital growth.
STUDYING SUBURBS SCHOOL ZONING IMPACT Homebuyers and investors are
it’s best to contact schools directly.
increasingly willing to pay a premium for Melbourne properties
Some leading government secondary
that provide access to leading
schools in Melbourne’s north include:
government secondary schools.
University High School, Viewbank College, Northcote High School,
Independent analysis by Property
Buckley Park College, Kew High
Analytics shows that median house
School, Strathmore Secondary
prices have increased significantly in
College, and Fitzroy High School.
suburbs where leading government high schools are located. Prices in
Access to schools is an increasingly
these ‘Top School Suburbs’ have
important driver of capital growth,
increased 50% more over the last two
but schools form one part of the
years than other Melbourne suburbs.
larger property price puzzle - the strategic importance of demographics,
A great online source for school
infrastructure, amenities, gentrification,
comparison information is
council policies, zoning, and proximity
bettereducation.com.au, but for
to commercial precincts remain
individual school admission policies,
important factors.
RECENT SALES HIGHLIGHTS SALES HIGHLIGHTS IN YARRA SOLD $1,055,000
CLIFTON HILL Dally Ramsden Street Street SOLD $1,630,000 $700,000
CLIFTON HILL David Dally Street KEILOR EAST Avenue SOLD $1,356,000 $904,000
FITZROY NORTH Scotchmer HEIDELBERG Almay Grove Street SOLD $2,600,000 $1,021,000
FITZROY Lane CARLTONFreeland Barkly Street
SOLD $3,580,000 $1,335,000
FITZROY ESSENDON Gore NORTH StreetDudley Street SOLD $1,410,000 $1,445,000
CLIFTON HILLWarrick Hodgkinson ASCOT VALE StreetStreet SOLD $3,400,000 $800,000
FITZROY COBURG NORTH Glenora Rushall Avenue Crescent SOLD $823,000 $1,304,000
COLLINGWOOD Palmer HAWTHORN Brook StreetStreet
2015 FOUNDATION DAY: SUPPORTING OUR COMMUNITY
WE SLEPT AT THE MCG!
On Saturday 30th May we raised $218,500 for Foundation Day, our major annual fundraiser whereby each of our thirteen offices donates the professional fee from one of their auctions to a chosen local charity.
Did you know that over
Foundation The money raised Day is by an each office willofbethe initiative distributed Nelson to: Alexander Charitable Foundation was Ascot Vale which $21,549 established in 2005School to Glenroy Specialist provide a platform for staff Brunswick $16,980 engagement in community Melbourne City Mission service and fundraising. Palliative Care Carlton North $15,909 Reachits Foundation Since inception the Coburg $11,160 Foundation has distributed Robinson over $1.75Reserve million dollars Neighbourhood House into our local community, Commercial $25,000 supporting many worthwhile Room toand Create causes having a genuine Essendon impact on the $15,682 communities in Essendon which we operate. SES
6,000 young people have no place to call home every night in Victoria? They’re in our city, on our streets, borrowing a friend’s couch, or trying to keep warm on a cardboard mattress. For the past three years Melbourne City Mission has hosted “Sleep at the G” to help raise funds to end youth homelessness, and Nelson
Fitzroyoffi $25,640 Fitzroy ce: Supporting Berry StreetBerry Street with the Ivanhoe sale of$31,409 96 Scotchmer Australian Prostate Street, Fitzroy North.Cancer Research $25,640 donated Keilor East $9,666 Cancer Council Victoria Commercial offi-ce: Kew $7,636 Supporting Room to Create Guide with theDogs sale -ofVictoria 42-46 Easey Northcote $17,000 Street, Collingwood. Villa Maria - Austin St facility $25,000 donated Pascoe Vale $10,500 Pascoe North Primary For moreVale about Foundation School Day and our community Preston $10,391 involvement, please visit Darebin Information, nelsonalexander.com.au Volunteer & Resource Service
Alexander has been there
FOUNDATION
every year to do our bit.
DAY: Supporting
This year our team of 11 set a target of $3,000 and we were really pleased to smash this with a total of $5,307 raised to assist Melbourne’s oldest charity improve the lives of young people suffering homelessness.
our community.
COMPANY NEWS Paul Lunardi
I
t’s been a big first half of the year for Nelson Alexander and I’m delighted to announce that we have once again been independently acknowledged for exceptional results and service in the real estate industry. As winners of the REIV Awards for Excellence we were invited to represent Victoria in the Real Estate Institute of Australia’s national awards, held in Perth in March, and we were honoured to receive the coveted Large Residential Agency of the Year and Community Service awards. To be recognised as Australia’s best agency is something we are incredibly proud of and a testament to the hard work and quality of our people and their culture of supporting our local communities. Another very special highlight and outstanding success was Foundation Day; the major annual fundraiser of the Nelson Alexander Charitable Foundation held on Saturday 30th May, a record $218,500 was raised – soon to be distributed to many very worthwhile causes throughout our
community. A huge thank you to all of our staff for their wonderful contribution. The cold weather has arrived and traditionally the winter selling season slows down with fewer properties on the market. But with no sign of buyer demand slowing, winter can often be a very good time to sell. Independent analysis showed that in 2014, auction success rates were similar for winter and spring. Stable buyer demand and less supply, means potentially stronger competition. Combine this with Nelson Alexander’s leading 13-office (nonfranchised) network, and it’s rarely a bad time to sell! Thank you for your ongoing support. Please get in touch if you are considering selling or leasing, we look forward to hearing from you. Paul Lunardi - Managing Director 0419 461 107