The Juice
Issue Three | December 2016
Fresh From The Market - Latest news from the C&G team We have seen some solid results this year with excellent double digit growth particularly in the second half of the year. 2016 has also demonstrated wonderful consistency in the auction arena with the auction clearance rate averaging around the 75% mark for the entire year, an outstanding statistic.
Continues inside
Inside: Fresh From the Market
Handpicked Local Events
Land Tax What Does It Mean?
Five Minutes With...
Handy Hints For...
Matt Mitchell, Torsten Kasper, Sam Gamon, Jon Kett & Nick Jones
Fresh From the Market Port Melbourne With 50% less houses and townhouses selling in the last three months compared with the same time last year, stock levels are low and demand is high. We’ve noticed a large number of buyers looking for 3 bedroom houses, which as a result has increased the medium house price to just over $1.4M and 4 bedrooms jumping to $2M. Apartments are remaining consistent with last year as their popularity continues. Auctions for 2017 are already booking up so we anticipate the market remaining strong into next year. Black Rock Given the strength of bricks and mortar combined with low interest rates there has been a severe lack of villa units and investment properties changing hands in 2016. Houses in Beaumaris were a clear standout for the region with 10.2% growth in the last quarter increasing the median house price to $1,545,000. Good family homes and townhouses are very highly sought after and transacting well. Our office has had a busy spring period and we look forward to forecasting solid results in the New Year. Market Share Black Rock
All residential sales (number of sales) 1st May 2016 to 31st August 2016 *Source RP Data
Mount Martha Mount Martha’s current market is an exciting one to be a part of. With a lack of stock and growing number of buyers it’s more than likely there’s going to be more than one buyer for each home. There’s been some strong growth in the last quarter with the median house price increasing to $876K and the current days on market is sitting at a healthy 32 days. Elwood The Elwood housing market in particular has been strong in the last quarter. According to the Real Estate Institute of Victoria, the October quarterly results show that the Elwood median house price increased by 16.7% bringing the median house price to $2,275,000. The apartments however were quite the opposite with a quarterly change of minus 12.7%, however they still maintained an annual increase of 7.7% growth. Overall we have had an extremely busy spring and we anticipate 2017 will start with some positive momentum.
Market Share Elwood
All residential properties sold Oct 2015 to September 2016 *Source Propertyanalytics
Handpicked Events in Your Local Area 8 DEC 2 APR
16 NOV 8 MAR
Moonlight Cinema – Royal Botanic Gardens http://www.thatsmelbourne.com au/Whatson/ Films/SpecialEvents/Pages/3ca0d4ca-5ded4c1d-a4e5-6e33d35e8fce.aspx
Summer Night Market – Queen Victoria Market http://www.thatsmelbourne.com.au/ Whatson/Shopping/Pages/b46ef751f445-455d-8787-49ba22956ff8.aspx
JAN
Australia Day at the Docklands http://www.australiaday.vic.gov.au/whatson/australia-day-docklands/
18
White Night Melbourne https://whitenightmelbourne.com.au/
26
FEB
Land Tax, What Does It Mean? As Australia’s love affair with real estate continues to blossom, an aspect of a growing property portfolio which may be overlooked or not fully accounted for are your obligations relating to Land Tax. In Victoria, Land Tax becomes payable once the total value of Victorian property you own exceeds $250,000 – this figure however excludes your home (Principal Place of Residence) and any land used for primary production or charity. This value is assessed at the end of the calendar year and is based on the value determined by the council or the Valuer-General every two years. It must be noted that should you choose to rent out your home (PPR), the exemption for that property ends.
Whether you have a holiday home by the coast, inner city investment property, commercial property or even a block of vacant land in the country, once the combined value exceeds the threshold, then Land Tax will be applicable and your obligation will be assessed. For more information on land tax visit http://www.sro.vic.gov.au/land-tax
Planning to sell your home before the Easter/School Holiday break in April 2017? In order to sell before Easter, savvy property owners will have their home ready to go on the market no later than February.
The clock is ticking…
Elwood
Black Rock
So call us on 9531 1245 to get your 2017 sales plan underway now!
Mount Martha
Port Melbourne
Five Minutes With...
Handy Hints For... Dave from Providore, Mt Martha
Renovating Your Bathroom Tile selection – When selecting your tiles, choosing the right colour and size can make all the difference to the look and feel of your bathroom. Maintain neutral tones with monochromatic tiles (grey, white, neutral) and add in a textured tile for a feature wall (ideally behind your bath or in the shower). This will make your bathroom appear more spacious. To keep the proportion of the room, choose a smaller wall tile than your complimentary floor tile and tile up to the ceiling. Mirror size - Choose an oversized mirror. A well placed mirror completes the look of the room by giving the appearance of more space, thus making your bathroom appear expansive. Use quality basins and tapware – Select tapware to provide coloured accents to your bathroom. Colours trending right now are black, rose gold and gold. Keep all the tapware the same style and colour so there’s consistency throughout the bathroom. There are an abundance of designer basins that become a blend of form and function. If you have the space twin sinks will add a touch of luxury.
Elwood 9531 1245 | 90 Ormond Road 3184
When you have visitors, where do you take them? Mt Martha beach is one of my favourite beaches so in the warmer weather that’s my first pick. This time of year though there’s nothing better than a drive down to the wineries in red hill.. The drive alone has amazing scenery. I also like taking my guests down to Two Buoys for a cheeky cocktail or even a trip down to the Peninsula Hot Springs Other than Providore, where is your favourite place to eat on the Mornington Peninsula? “The epicurean” in red hill, one of the many places I’ve worked on the peninsula before I owned Providore. It is without doubt my favourite place on the pen, the food the venue & the atmosphere is spot on. What is your favourite travel destination outside Melbourne? Queensland, places like cairns just have everything that you could possibly want in one spot the beaches, the mountains, the rain forests, the people, & the sun! It’s my favourite place to take a holiday. In your opinion, what is the best aspect of the peninsula? We have some of the most beautiful beaches in the world, fantastic wines & some of the most amazing places to grab a coffee or a feed. With fresh local produce at our finger tips the cafes and restaurants can dish up some amazing things.. The peninsula has that vibe that even the locals feel like they are on a holiday.
Black Rock 9589 3133 | 3 Bluff Road 3193
Tell us something you learned in the last week. That you’re never too old to play Pokemon! haha
Port Melbourne 9646 4444 | 1 - 103D Bay Street 3207
https://www.facebook.com/ProvidoreMtMartha/
Mount Martha 5974 6888 | 7A Bay Road 3934 Chisholmgamon.com.au
*Should your property be exclusively listed with another agent please disregard this notice.