The Juice
Issue Four | February 2017
Fresh From The Market - Latest news from the C&G team 2017 has started incredibly well with the latest auction clearance rate sitting at 82% - based on a staggering 1198 auctions. This indicates a strong Autumn Season for the property market underpinned by a steady interest rate outlook.
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 The Port Melbourne real estate market provides a great opportunity to sell currently, as 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 median house price to $1.45M. Apartments have experienced a growth of 11.6% in the last quarter, bringing the median apartment price to $747,500 which shows their popularity continues. Black Rock Given the strength of bricks and mortar combined with low interest rates there was a severe lack of villa units and investment properties changing hands in 2016. The growth in both Black Rock and Beaumaris houses and units was strong for the quarter, with units for both suburbs being a particular standout with growth of up to 16.1% - increasing the median unit price for Black Rock to $940,000 and Beaumaris to $1,150,000. Good family homes and townhouses are very highly sought after and transacting well. Our office experienced a busy spring period in 2016 and we look forward to continuing solid results for 2017.
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 of 14.5% in the last quarter - with the median house price increasing to $945K and the current days on market is sitting at a healthy 32 days. Elwood The Elwood housing market looks to have started strongly. We see an excellent mix of property coming onto the market. The median house price was $1,772,000 and apartments came in at $591,000. So far January has seen a healthy average of 29 days on market for Elwood properties. Our clearance rate for our first weekend of auctions for 2017 was 100%. Our auction calendar is already booking up so we anticipate the market remaining strong into the year.
Handpicked Events in Your Local Area Moonlight Cinema – Royal Botanic Gardens
8 DEC 2 APR
http://www.thatsmelbourne.com au/Whatson/ Films/SpecialEvents/Pages/3ca0d4ca-5ded4c1d-a4e5-6e33d35e8fce.aspx
Summer Night Market – Queen Victoria Market
16 NOV 8 MAR
Bayside Food Truck Fiesta at St Kilda
9 MAR 13 MAR
http://stkildamelbourne.com.au/2017/02/03/ bayside-food-truck-fiesta/
The 89th Red Hill Show, Red Hill Showgrounds
11 MAR
http://www.thatsmelbourne.com.au/ Whatson/Shopping/Pages/b46ef751-f445455d-8787-49ba22956ff8.aspx
http://www.mornpen.vic.gov.au/EventsActivities/Red-Hill-Show
Land Tax, What Does It Mean? 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
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.
2017 Autumn Auction Calendar JANUARY 2017 Mon Tue Wed Thu
Fri
FEBRUARY 2017 Sat Sun
26 27 28 29 30 31
1
2
3
8
9
10 11 12 13 14 15
4
5
6
7
16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
1
2
3
4
SCHOOL HOLIDAYS
5
MARCH 2017
Fri
30 31
1
2
3
5
6
7
1
2
3
6
8
9
10 11 12
6
7
8
9
10 11 12
7
Sat Sun
4
Mon Tue Wed Thu
APRIL 2017
Mon Tue Wed Thu
Fri
Sat Sun
4
5
MAY 2017
Mon Tue Wed Thu
Fri
Sat Sun
Mon Tue Wed Thu
1
2
1
2
3
3
8
9
8
9
10 11 12 13 14
5
6
7
5
Sat Sun
27 28 29 30 31 4
4
Fri
6
7
13 14 15 16 17 18 19
13 14 15 16 17 18 19
10 11 12 13 14 15 16
15 16 17 18 19 20 21
20 21 22 23 24 25 26
20 21 22 23 24 25 26
17 18 19 20 21 22 23
22 23 24 25 26 27 28
27 28
27 28 29 30 31
24 25 26 27 28 29 30
29 30 31
1
2
3
PUBLIC HOLIDAYS
4
5
1
2
1
2
3
4
AUCTION DATES
Call us on 9531 1245 to get your 2017 sales plan underway now! Port Melbourne
Black Rock
Elwood
Mount Martha
Five Minutes With...
Handy Hints For... Renovating Your Bathroom
Five Minutes with Hayden Dyt, Foxes Den
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.
When you have visitors, were in Melbourne do you always take them? I am a huge cycling fan as are many of my friends. Top of the list for anyone visiting Melbourne is a ride along Beach Road. I believe one of the best urban beach rides in the world.
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.
What is your favourite foodie destination? For a great local eat it has to be Lau’s Family Kitchen on Acland Street. The food and service is always amazing.
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.
In your opinion, what makes Foxes Den stand out from the crowd? Our passion for sourcing the perfect produce sets us apart. Everything we sell is made by us in our kitchen, including all sauces and dressings. Our team of chefs are fanatical about clean honest food and they devise our menu using the best seasonal produce from small Australian farms. Currently we have over 30 veggies across our salads, each one carefully selected by our team. We offer a healthy, fresh takeaway option that caters for all dietary needs and is free from refined sugar and preservatives.
Elwood 9531 1245 | 90 Ormond Road 3184 Black Rock 9589 3133 | 3 Bluff Road 3193 Port Melbourne 9646 4444 | 1 - 103D Bay Street 3207 Mount Martha 5974 6888 | 7A Bay Road 3934 Chisholmgamon.com.au
What menu item can you never resist? Dare I say it but Foxes Den’s Fancy Fox hot chicken roll - free range chicken, brie, cos lettuce and our own house-made herb mayo - I can never go past it!
Tell us something you learned in the last month. My family and I visited the St Kilda Festival and I learnt that it is still excellent, perhaps better than ever before. A really great free day out. http://foxesden.com.au/ *Should your property be exclusively listed with another agent please disregard this notice.