FOCUS ON … REAL ESTATE
VICTORIAN HOUSING MARKET RECORDS LANDMARK MEDIAN INCREASE VICTORIAN housing market records landmark median increase The median house price in Victoria has recorded its largest increase since 2000, according to data from Real Estate Institute of Victoria’s quarterly December report. For the first time, Metropolitan houses in Melbourne surpassed a median value of $900,000, jumping by 9.5 per cent from the September quarter to land at $941,000. With most spending more time at home than ever throughout the year, families took the opportunity coming out of lockdown to
upgrade their home. This benefited house prices in middle Melbourne, the typical suburban family belt, which increased by 8.0 per cent from September to reach $1,066,500, and valued houses at 7.3 per cent above the December 2019 median. Regional Victoria also saw traction in the market, recording its highest quarterly growth since 2003. Houses achieved a median price of $485,500, recording a 9.2 per cent increase from the September quarter, and 7.5 per cent annual growth. While regional unit prices recorded a 3.5 per cent quarterly increase, they are now 10.3 per cent more valuable than they
were 12 months ago. Units in metro Melbourne achieved a median price of $639,500, 2.5 per cent higher than the September quarter and an annual increase of 3.8 per cent. Following the lifting of intensive lockdowns in October, activity in the property sector returned in Victoria, with an estimated 29,500 transactions in the December quarter. It was the highest number of quarterly transactions in 2020, surpassing the March quarter at 27,500. REIV President Leah Calnan said the Victorian property market has remained remarkably resilient in 2020 despite
dire market predictions at the on-set of COVID-19. “Throughout the July and September quarters, we received constant reports of low listings and activity. Once restrictions across the state eased, demand and buyer competition skyrocketed”, Ms Calnan said. “Certainly low interest rates and government incentives including stamp duty concessions and first home buyers grants added to buyer appetite for the December quarter, while volatility and uncertainty in the Australian equity market have secured property as a preferred investment option for Victorians”. ●
CUSTOMER-FOCUSED REAL ESTATE BY DANIELLE KUTCHEL FOR Abraham Namdar, customer service is everything. The Narre Warren-based real estate agent took a leap of faith into his new career last year as a sales associate at Only Estate Agents and has loved every minute of it so far. He’s worked in customer-focused industries for years, having previously run a restaurant in Fountain Gate Shopping Centre for over five years. This enabled him to form friendly relationships with locals, a skill that he’s carried on into his role at Only Estate Agents.
Describing himself as punctual, reliable and honest, Mr Namdar said his favourite part of the role is making his clients happy. “Seeing someone buying a property, settling down when they’ve just made the biggest decision of their lives - if I can help them out and make the process easier, that’s what I enjoy,” he said. He said it’s a good time for owneroccupiers and investors to get their foot on the ladder, with the property market recovering strongly after the impact of Covid in 2020. For the many younger families looking to buy in Casey, Mr Namdar is able to assist with navigating the array of government
grants and concessions on offer. Mr Namdar specialises in both existing homes and home and land packages around the Narre Warren area. Contact him for assistance with your property needs on abraham@ onlyestateagents.com.au or 8786 8889. ●
Sales associate Abraham Namdar.
Take advantage of the $10,000* first home owners grant and even better…. Receive up to $25,000* for the new builders scheme. Now is the time to buy! *eligibility criteria must be met
Pakenham
Inclusions • Vinyl wrap kitchen with stone benchtops • Stainless steel electric oven • Stainless steel gas hot plates • Stainless steel range hood • Ducted heating • Ceramic floor and wall tiles as per floor plans from builders range
• Carpet to remaining areas from builders range • Stainless steel sink and flick mixer to kitchen • Chrome mixer tops from builders range • Mirrors with polished edge to bathroom • Exhaust fans to bathrooms • Roller door to garage
• Flush panel internal doors • Internal door handles • 50mm Scotia cornice throughout • White glo tub to laundry • Weathertough acrylic to all exterior • Sewer power, drainage, gas and water connections as per plans • Outdoor water taps
Whether you’re looking to downsize and keep the caravan or boat, a first home buyer looking to enter the market or savvy investor, this development has a little something for everyone. Located in an established part of Pakenham, opposite parklands and open space, the fresh air and neighbourhood vibes will have you feeling at home in no time! With close access to all the amenities such as shopping, schools, restaurants and more throughout Pakenham and surrounding towns, you’ll have everything you need. With easy access to the M1. 2 bedroom townhouses $369,000–399,000. 3 bedroom townhouses $409,000–$449,000. First Home Owner Grant $10,000 (to eligible applicants) Prices subject to change 12452900-LB26-20
14 STAR NEWS
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Thursday, 28 January, 2021
pakenhamnews.starcommunity.com.au