The
Review
April - September 2016
It is with great pleasure that we bring to you our second edition of The Noel Jones Review for 2016 - a chance for us to share our observations and keep you up to date with market trends. Looking at 2016 sales, we have clearly noted that the volume of properties coming to market is considerably lower compared to 2015 which has limited the choice for buyers. However upon reflection, if you look at what has transpired this year - a Federal Election, talks of removing negative gearing creating fierce debate and the big four banks all changing their policy on lending to overseas buyers – it is fair to say there has been a lot of uncertainty. Spring is now officially upon us and we anticipate a number of quality properties being offered which should add some momentum back to the million-dollar price segment. Our team is fortunate enough to be representing some exciting listings so ensure you follow us on Facebook or Instagram to keep up to date. KEY POINTS FOR 2016 • Banks are no longer allowing foreign buyers with overseas income to apply for loans. • Foreign buyers have been hit with a stamp duty increase ranging from 3-7% on top of the normal rate. • ATO’s new tax ruling for property sales over $2,000,000 means that vendors must prove Australian residency or the buyer will be required to withold 10% of the total sales price and pay this to the ATO. A number of exciting things have been happening within our office, with the addition of two new members. Ingrid Ward has many years of local real estate experience and is wasting no time in helping people through the sales process and creating raving fans along the way. Nicole Scott also joins the team with a depth of local knowledge and ties within the community having bought and sold many homes. We are excited to have them both on board. We would also like to recognise Michael Gurry for being awarded the Rising Star Award at the end of financial year Noel Jones Group Awards - a credit to his dedication and commitment to his clients. Bianca Birnbauer was also recognised as Outstanding Business Development Manager for the second year in a row - well done Bianca! If we can be of any assistance, please don’t hesitate to get in touch, The Noel Jones Mitcham Team
Blackburn
Blackburn North
Blackburn South
Houses - $950,000
Houses - $959,000
Units - $696,000
Units - $780,500
Burwood East
Houses - $1,180,000
Houses - $975,000
Units - $680,000
Units - $715,000
Donvale
Forest Hill
Houses - $1,070,000
Houses - $890,000
Units - $618,000
Units - $597,500
Mitcham
Area Watch Median Property Prices
Vermont South
Houses - $884,000
Houses - $1,060,000
Units - $625,000
Units - $725,000
Nunawading
Vermont
Houses - $898,500
Houses - $858,000
Units - $600,000
Units - $690,000 Source: realestate.com.au 1/9/16
5 Common Misconceptions About Selling Myth 1. Home styling is unnecessary Investing in the presentation of your home is vital for a successful sale. A visually unappealing home that appears cluttered and unplanned can be very off-putting. However, when your home is presented in the best possible light it will outshine the rest and will peak the interest of potential buyers. A small investment in professional styling will help your property reach its true potential and dramatically increase your chances of securing your ideal asking price.
Myth 2. You don’t need professional photos “A picture paints a thousand words.” The biggest difference between professional and amateur photos is that the professional knows how to make something ordinary look spectacular. They understand how the angle of the photo can make a space appear bigger and how the sizes and colours of objects impact a photo. The difference between professionally taken and amateur photos is often abundantly clear in the final product. Potential buyers will not spend time looking at your listing without high quality pictures to catch their eye.
Myth 3. You can cut costs on advertising Advertising is the most important part of your sale campaign. While some believe that simply listing your property for sale on the internet is enough to secure a sale, research shows online and print advertising to be the winning combination. The key is to give yourself the best opportunity to secure the very best
buyer. Invest now and reap the rewards come settlement day.
Myth 4. Auctions cost more Some people believe that selling at auction is significantly more costly than other sale methods however, this is not the case. The only extra fee incurred is the cost of an auctioneer to perform the auction, which is usually only a couple of hundred dollars. Auctions also create certainty for sellers and a sense of urgency for buyers who know that the property is for sale within a set time frame. Furthermore, less time on the market means less advertising fees!
Myth 5. Set your price high Many sellers think that it is best to set their asking price high and then reduce it if needed, however this can be detrimental to your sale campaign. Setting the price too high can discourage potential buyers from inspecting your property and reduce buyer competition. You will achieve better results if you set an asking price that the market will respond to and adjust accordingly based on buyer feedback.
Recent Sales Our team take great pride in working with our clients to secure a successful sale of their most valuable asset. The following properties are a selection of those sold by Noel Jones between April and September 2016.
BLACKBURN
BLACKBURN
33 LARCH STREET
1 LEONS COURT
4
1
2
4
2
2
708sqm land
739sqm land
$1,161,000
$1,217,000
BLACKBURN
BLACKBURN
2/55 STANLEY GROVE
12A BROOMHILL AVENUE
3
2
2
3
2
2
490sqm land
$978,000
$1,205,000
BLACKBURN
BLACKBURN
356 MIDDLEBOROUGH ROAD
1/162 SPRINGFIELD ROAD
3
1
4
3
2
1
746sqm land
$930,000
$775,000
BLACKBURN NORTH
BLACKBURN NORTH
37 DEVON DRIVE
15 WILTON STREET
4
2
1
4
2
1
654sqm land
746sqm land
$1,081,000
$1,260,000
BLACKBURN NORTH
BLACKBURN NORTH
9 LANE STREET
7 HARRIS STREET
3
1
1
4
2
2
583sqm land
634sqm land
$1,088,000
Undisclosed
BLACKBURN NORTH
BLACKBURN NORTH
17 MERLE STREET
14 DIANA DRIVE
2
2
1
3
1
2
754sqm land
603sqm land
$1,205,000
$965,000
BLACKBURN SOUTH
BLACKBURN SOUTH
4 HURTER STREET
8 CANORA STREET
3
1
3
3
1
1
682sqm land
696sqm land
$985,000
$1,020,000
BLACKBURN SOUTH
BLACKBURN SOUTH
3 JOBERT COURT
15 HUNTER DRIVE
4
2
2
4
2
1
537sqm land
590sqm land
Undisclosed
Undisclosed
BLACKBURN SOUTH
BLACKBURN SOUTH
7 PAULETTE COURT
2/8 BARKER STREET
3
3
1
4
2
2
531sqm land
266sqm land
$950,000
$1,175,000
BURWOOD EAST
BURWOOD EAST
12 TAINTON ROAD
17 RAMSEY STREET
3
1
2
5
3
2
598sqm land
647sqm land
$899,000
$1,080,000
DONVALE
DONVALE
28 CARBINE STREET
11/3-7 LESLIE STREET
4
3
2
2
2
2
745sqm land
444sqm land
$1,210,000
$875,000
DONVALE
DONVALE
32 EDWARD STREET
18 LIMASSOL COURT
5
4
4
4
2
2
4,694sqm land
4,007sqm land
Undisclosed
$1,250,000
DONVALE
DONVALE
2/7 HOPE AVENUE
5 EXFORD PLACE
3
1
2
3
2
2
535sqm land
853sqm land
Undisclosed
$955,000
FOREST HILL
FOREST HILL
6 OLYMPIC COURT
14 BOX AVENUE
3
1
3
4
2
2
652sqm land
653sqm land
Undisclosed
$950,000
FOREST HILL
FOREST HILL
80 MENIN ROAD
1/29 JOLIMONT ROAD
3
1
2
3
1
1
601sqm land
179sqm land
$886,000
$590,000
FOREST HILL
FOREST HILL
2/61 RANFURLIE COURT
79 VICKI STREET
3
2
2
4
2
2
211sqm land
538sqm land
$766,000
$860,000
MITCHAM
MITCHAM
2/78 PURCHES STREET
13 GLENBURNIE ROAD
4
4
2
2
2
2
543sqm land
$950,000
$1,200,000
MITCHAM
MITCHAM
14 DAMPIER GROVE
1 DALMOR AVENUE
3
1
1
4
2
1
597sqm land
611sqm land
$730,000
$1,150,000
MITCHAM
MITCHAM
10 NYMPH STREET
40 GLENBURNIE ROAD
4
2
1
3
1
1
706sqm land
1,489sqm land
$1,000,000
$1,475,000
NUNAWADING
NUNAWADING
3 LILIAN STREET
55 ASHWOOD DRIVE
4
2
1
3
1
2
787sqm land
664sqm land
Undisclosed
$920,000
NUNAWADING
NUNAWADING
1 ZANDER AVENUE
21 PATTERSON STREET
4
3
2
4
2
2
697sqm land
757sqm land
$1,155,000
$995,000
NUNAWADING
NUNAWADING
48 ESDALE STREET
12 HIGH STREET
3
2
4
4
3
733sqm land
655sqm land
$1,035,000
$927,500
-
VERMONT
VERMONT
23 MARLEIGH STREET
22 MCDONOUGH LANE
3
3
1
1
2
1
732sqm land
434sqm land
Undisclosed
Undisclosed
VERMONT
VERMONT
49 NURLENDI ROAD
11 BLANCHE DRIVE
4
2
2
2
1
494sqm land
348sqm land
$920,000
$599,999
VERMONT
VERMONT
60 BORONIA ROAD
2 ELLAD CLOSE
3
2
1
4
2
2
2
713sqm land
554sqm land
$858,000
$888,000
VERMONT SOUTH
VERMONT SOUTH
9 SHALIMAR COURT
86 STANLEY ROAD
4
4
1
2
2
2
651sqm land
$880,000
$1,375,000
VERMONT SOUTH
VERMONT SOUTH
4/604 BURWOOD HIGHWAY
2 BAROSSA AVENUE
3
3
2
1
2
2
447sqm land
$698,000
$810,000
VERMONT SOUTH
VERMONT SOUTH
200 HAWTHORN ROAD
6/335 HAWTHORN ROAD
3
3
2
2
2
2
645sqm land
247sqm land
$900,000
$768,000
PROPERTY
MANAGEMENT WITH NOEL JONES
We’ll help you to maximise your returns while minimising your risk.
$457
100
AVERAGE WEEKLY RENT APR - SEP 16
PROPERTIES LEASED APR - SEP 16
0.9%
CURRENT VACANCY RATE
RECENTLY LEASED ADDRESS
SUBURB
PRICE
ADDRESS
SUBURB
PRICE
43 Tyne Street 57 Wicklow Avenue 201-203 Hawthorn Road 206/3 Thiele Court 5/11 John Street 55 Salisbury Avenue 13 Waratah Avenue 35 Barbara Street 8/91 Surrey Road 1/25 Shady Grove 24 Irene Crescent 2/24 Jolimont Road
Box Hill North Croydon Vermont South Blackburn Nunawading Blackburn Burwood Vermont Blackburn North Nunawading Mitcham Forest Hill
$495 $460 $752 $490 $350 $720 $500 $390 $450 $550 $550 $390
64 Kitchener Street 2 McMurray Street 3/14 Purches Street 2/87 Albion Road 29 Kett Street 2 Haslemere Road 14 The Ridge
Box Hill South Nunawading Mitcham Box Hill Nunawading Mitcham Blackburn
$500 $430 $430 $680 $410 $660 $550
PROPERTY MANAGEMENT WITH NOEL JONES
COMPLIMENTARY KNOWLEDGE BOOK SMS ‘PM’ to 0416 907 823 to receive a copy.
www.noeljones.com.au
Knowledge Commitment Innovation Reliability
Manage your finances Your finances are the first thing to consider before taking the leap into the property market. You need to know what your current financial situation is in order to know what price range you can afford. The best way to do this is to organise a pre-approval. A pre-approval will give you an idea of how much you can borrow and can also help speed up the home loan application process when you do find a property as the groundwork has been completed.
Shop for a home loan Finding a competitive home loan can make all the difference to your investment goals and it is not hard to do. Make it simple by taking advantage of the comparison websites that compare a range of different home loan products in the one place. Besides choosing whether you want a fixed or variable rate, you’ve also got to work out which lender accommodates your needs. Each lender and loan has different rates, features and fees so it really does help to shop around before diving in.
4 things to consider if you are thinking of investing
Be mindful of ongoing costs You may have done extensive research and made up your mind that you can afford the property and the mortgage repayments, but have you included the ongoing costs in your budget? Rates, insurance, maintenance and property management costs are just a few ongoing costs you will need to include in your budget. However, you can cut down on these costs by keeping the property in a good condition - regular maintenance is extremely important.
Research your location Location is one of the most important factors for investors as it can determine how successful an investment may be down the track. In order to find the right area to suit your investment plan, you will need to conduct you own research. Research capital growth and rental yield data. Speak with as many professionals in the industry as you can to get an idea of where they think the market is heading.
OUR CLIENTS IN THEIR OWN WORDS “Tim and his team have restored our faith in Real Estate agents. He has shown what can be done when you engage an agent who genuinely understands the value of an area and the market into which you are selling. Tim and his colleagues kept us continually up to date, positioned our house and our expectations to prospective purchasers appropriately, and negotiated an excellent outcome for us and the purchasers in minimum time. We cannot recommend Tim and the team at Noel Jones Mitcham highly enough.”
15 Oxford Grove, Vermont South
Tim Longmore 0433 304 805
“David To and the Noel Jones team impressed me from the outset. David very professional and personable, he kept me up to date with regular communications and support throughout the entire process. David was ably supported by a friendly and extremely competent Noel Jones team. David was honest and upfront throughout his communications making the whole process much less stressful than I’d anticipated. I would highly recommend David to anyone considering selling/purchasing a property.”
24 Willow Avenue, Mitcham
86 Stanley Road, Vermont South
David To 杜伟华 0421 386 715
“After meeting with a number of real estate agents, we signed with Tim and David from Noel Jones Mitcham based on how impressed we were with the follow up and how they proposed to market our home. We were consistently kept up-to-date with an email of what had occurred for the day, weekly online updates and regular phone discussions. Based on the agreed marketing strategy and the home, we exceeded all of the KPI’s with regards to views, enquiries and inspections, which ensured we had a huge crowd on auction day, multiple bidders and a great result. We very much appreciate the efforts of Team Longmore and would recommend Tim and his team to anyone looking to sell.”
560 Mitcham Road Mitcham VIC 3132
Tim Longmore 0433 304 805 tim.longmore@noeljones.com.au David To 杜伟华 0421 386 715 david.to@noeljones.com.au Cassandra Le Lievre 9837 4444 team.longmore@noeljones.com.au
POSTAGE PAID AUSTRALIA