HOME-GROWN Winter Edition 2024

IN THIS ISSUE

SELLING IN WINTER: A GOLDEN OPPORTUNITY

Welcome to our WINTER 2024 issue of HOME-GROWN. An Albury-Wodonga based Real Estate Magazine, keeping you up-todate with the latest listings and information as well as current local market statistics. In this winter edition, we have a great article about selling in winter as well as some exciting news about The Mantra Albury (+ a discount code for our Stean Nicholls Clients). We also have our most recent results and social snaps. We hope you enjoy reading our twenty first issue of Home-Grown as much as we have enjoyed putting it together for you. Here’s to a fantastic winter!

PICTURED

NEW OWNERSHIP INJECTS FRESH ENERGY INTO MANTRA ALBURY

RECENT RESULTS

NEW LISTING

LOCAL BUSINESS SPOTLIGHT

INSPIRING THE FUTURE OF AUSTRALIAN INTERIORS

TENANT OF THE MONTH

DIRECTORS’ MESSAGE

SOCIAL SNAPS

475 THURGOONA STREET, ALBURY

SELLING IN WINTER: A GOLDEN OPPORTUNITY

Real estate is a strangely seasonal business in Australia, and that may work against sellers who blindly follow those trends.

The mythical spring selling season draws a huge influx of listings at a time when there isn’t necessarily going to be the same surge in buyer activity. Winter, on the other hand, tips the supplyand-demand scales in favour of sellers.

Find out why agents around the country prefer winter selling and what data backs them up.

Buyer demand typically outweighs supply in the colder months

Put simply, supply and demand is always going to be a foundational factor driving the housing market.

In 2021 we saw just how powerful the equation can be. Persistently low listings were met with feverish demand, and it resulted in one of the biggest housing booms Australia has ever seen.

It stands to reason, then, that sellers looking to achieve a top price would want to list at a time when there’s less stock on the market but demand remains strong.

Looking at data from REA Group from 2018 to 2023, there were on average 17 per cent fewer listings from June to August than there were in September to November.

That indicates that stock on the market is significantly lower in winter than in spring.

While the real estate market is seasonal - buyers are not. Buyers look at buying properties in any season. We know in spring and summer there is a lot more properties on the market, so the buyer pool tends to dilute.

Plenty of agents advise selling in winter to achieve top results

For many agents, winter presents a golden opportunity to beat the spring rush and secure an excellent sale price.

Many sellers have the mindset that listing in the warmer months is the way to go. The problem is, that everybody has the same idea, and that creates unnecessary competition between vendors.

Many of Stean Nicholls best results have always been in winter.

In winter there aren’t as many properties on the market, so buyers are generally fighting over what is available resulting in good results for vendors.

It’s almost as though people forget the supply and demand rule. Buyers don’t suddenly need to not buy a home in July… they still need somewhere to live.

Should sellers list now or wait?

Of course, every seller’s personal circumstances are different, and generally, the right time to list is when you’re ready.

For sellers looking to achieve a top sale price, coming to market this winter could turn out to be ideal, though.

475 THURGOONA STREET, ALBURY

SELLING IN WINTER: A GOLDEN OPPORTUNITY

With so much pent-up activity on the selling side, this year’s spring selling season could see a significant influx of stock coming to the market, giving buyers more to choose from and making it more difficult for vendors to stand out from the crowd.

Sellers who are also looking to buy in the same market can be assured that both sides of the process will balance each other out as conditions change.

A more competitive buying market means an easier sale and vice versa. In effect, it typically all comes out in the wash.

In terms of the next steps, getting an estimate of your property’s value and speaking with a top local agent from Stean Nicholls, who can give personalised advice on how to approach the current market are two of the best ways to start forming a clear picture of how to move forward.

166 FENCHURCH DRIVE, SPRINGDALE HEIGHTS

NEW OWNERSHIP INJECTS FRESH ENERGY IN TO MANTRA ALBURY AND OFFERS A GREAT DISCOUNT FOR STEAN NICHOLLS

To celebrate the new ownership Stean Nicholls have teamed up with Mantra Albury to offer a 15% discount, to all Stean Nicholls clients! To access this fantastic deal, head to all.accor. com and enter the PROMO CODE STEANNICHOLLS24 on the special rates section. This is a great deal where you can get rates starting from $140 per night depending on the public price.

Mantra Albury, Albury, NSW, is now under new ownership.

The acquisition marks an exciting chapter for the Hotel and the vibrant community of Albury.

The new owners, Willow Funds are thrilled to announce their investment in Mantra Albury and the opportunities they see within the thriving regional town.

Willow Funds CEO Malcolm expressed his enthusiasm, stating, “We are delighted to have acquired the Mantra Albury Hotel and to become part of the fabric of this wonderful community. Our vision is to not only maintain the exceptional standards of hospitality that guests have come to expect but also to enhance the overall experience, offering something that reflects the charm and spirit of Albury. We would love to hear any suggestions you might have as we will be investing in new and exciting amenities for our guests so please feel free to call our super friendly and professional General Manager Imalka on 02 6048 8000 or albury.gm@mantra.com.au to get more great information on accommodation, Food & Beverage, Conferencing and Events, as a valued client of Stean Nicholls.

We recognise the importance of community engagement and collaboration and are eager to forge strong partnerships with local businesses, producers, and organisations. We envision Mantra Albury becoming not just a place to stay but a hub of activity, showcasing the best of what the region has to offer and remains a premier destination for travelers seeking comfort, luxury, and authentic regional experiences so please get in touch and let us know how we can assist you!”

Mantra Albury Hotel features modern accommodation that delivers on style and function. Situated in the bustling Riverina city and offering Mantra’s trademark friendly hospitality, this Albury accommodation has become the region’s premier corporate, meetings and leisure hotel.

Conveniently located in the Volt Lane precinct of the CBD, this full-service seven storey Albury hotel offers 146 spacious guest rooms, ground floor restaurant and bar, gym, and large conference facilities catering the meetings, events and weddings.

Imalka Maddumapatabendi GENERAL MANAGER

RECENT RESULTS

RECENT RESULTS

NEW LISTING

Welcome to Dux, where excellence is the new standard.

For curated wines, cocktails and share plates, a seat at the bar or an intimate table awaits. You bring the witty banter, and we’ll take care of the rest. With Distinction. Dux is the newest food + beverage venue to hit Dean Street. Dux has taken over the old Radio

Rentals building near the David Street end of Dean Street. Offering locals and visitors something new and exciting from the glamorous décor, to the melt in your mouth share menu items, to the cocktails that are constantly changing. Dux sits proudly with it’s name, serving up a ‘top of the class’ experience.

Upstairs at Dux, you will find a function space for any celebration you could think of.

Reach out through social media or hospitality@duxalbury.com.au

Food is served from the moment we open, so sneak in for an early dinner or a late lunch.

Trading Hours - Wed + Thu + Fri 3pm – Late & Sat 12pm – Late 466 Dean Street Albury NSW duxalbury.com.au @duxalbury

INSPIRING

THE

FUTURE OF AUSTRALIAN INTERIORS

INSPIRING THE FUTURE OF AUSTRALIAN INTERIORS

Salone del Mobile in Milan, the global benchmark event for the furnishing and design sector, offering inspiration and insights on the latest trends in kitchen and bathroom design, took place during Milan Design Week 2024. The event showcased an array of innovative designs and materials that are set to influence the Australian design landscape in the coming years.

The main theme of Milan Design Week 2024 was kitchen and bathroom design, with numerous brands showcasing their innovative solutions for these spaces. One of the standout installations was Gaggenau’s “The Elevation of Gravity” at Villa Necchi Campiglio, which demonstrated the brand’s commitment to pushing the boundaries of kitchen design.

Several key trends are expected to shape the future of Australian interior design.

Contemporary Shapes: Soft, organic forms were prevalent, exemplified by BD Barcelona Design/ Muller van Severn’s PILLOW SOFA, the Delcourt Collection, and MDF Italia’s sofa. This signifies a shift towards more fluid and inviting designs in furniture.

Materials: Steel and aluminium took centre stage, with designers incorporating these sleek and durable materials into their creations. These materials offer a modern aesthetic while ensuring longevity and easy maintenance.

Colour Palette: Rich, deep reds and burgundy hues dominated the colour scheme at the event.

166 FENCHURCH DRIVE, SPRINGDALE HEIGHTS

INSPIRING THE FUTURE OF AUSTRALIAN INTERIORS

This trend was evident in several exhibitions, such as GUCCI’s ‘Design Ancora’ exhibition curated by creative director Sabato De Sarno.

Lighting Innovations: Brands like FLOS and Loewe showcased stunning lighting installations that combined artistry with functionality. FLOS’s dazzling installation at Palazzo Visconti seamlessly blended past and present, while Loewe’s creative director, Jonathan Anderson, commissioned international artists and artisans to explore ‘illumination within the house,’ resulting in captivating pieces such as a woven leather light and ceramic candles.

Kitchen and Bathroom Solutions: Alongside Gaggenau’s impressive installation, other brands also presented forward-thinking kitchen and bathroom designs. Henry Timi and Swiss home appliances brand V-Zug unveiled their inaugural Milan showroom, combining soft hues, natural materials, and high-tech appliances in a space that encapsulates “poetic simplicity.” Kohler collaborated with designer Samual Ross to create a playful and colourful bathroom installation that challenged conventional scales.

Immersive Experiences: Google’s immersive light and sound installation, “Making Sense of Colour,” created in collaboration with arts and research lab Chromasonic, further emphasised the importance of colour in design and its ability to evoke emotions and create a desired atmosphere.

The design community also paid homage to the late Gaetano Pesce, a pioneering Italian designer who passed away earlier this year. His presence was felt throughout the event, with many designers drawing inspiration from his innovative and unconventional approach to design.

Other noteworthy exhibits included Saint Laurent’s display of Gio Ponti classic plates and the Linea Mini coffee machine, a collaboration between Rimowa and La Marzocco. The machine combines Rimowa’s signature grooved panels, made in their Cologne factory, with La Marzocco’s expertise in coffee machine manufacturing from their Florence factory, resulting in a stunning piece that bridges the gap between design and functionality.

475 THURGOONA STREET, ALBURY

TENANT OF THE MONTH

458 Smollett Street, Albury, NSW

P: (02) 6496 2277

E: sales@piazzetta.com.au www.piazzetta.com.au

Piazzetta Wood Pellet Heaters are smart and efficient home heating solutions designed and manufactured in Italy.

Our pellet heaters can be fully controlled by your smartphone or programmed to turn themselves on before you wake up in the morning or before you get home from work. The prominent flame gives you the feeling we all love of a wood fire with the convenience of push button wood heating (without the expensive cost to run). The high quality construction means longevity of incredible technology and now, with our very own Albury showroom, you can get ongoing support from our friendly staff.

Piazzetta has been producing wood heaters since the 1960s and pellet heaters since the 1990s. All Piazzetta Pellet Heaters are designed and manufactured in their factory in Asolo, Italy. Encapsulating design, performance and comfortpellet heaters are the intelligent heating solution for the discerning buyer.

Pellet heaters have the same ambience as a wood fire, yet the control of gas or electricity. Their high efficiency means that they only have to be topped up with pellets every couple of days and they produce far fewer emissions compared to traditional wood heaters.

What are Pellet Heaters?

Pellet Heaters are an environmentally friendly alternative to traditional wood heaters. They run on wood pellets - which are made from recycled wood waste that has been processed into dense, high energy pellets. Pellets are stored in a pellet hopper inside the heater. A screw like auger intermittently dispenses pellets from the hopper into the burn pot to feed the flame.

DIRECTORS’ MESSAGE

As we navigate through the second quarter of 2024, the Albury-Wodonga real estate market presents a mixed but optimistic picture. The dynamics within different segments of the market reveal distinct trends and ongoing resilience despite economic uncertainties.

We are currently experiencing a two gear market in the region. The first home buyer and investor categories are showing strong competition and delivering excellent results. This surge is primarily driven by the overwhelming competition in the rental market. Many potential renters are finding it financially advantageous to purchase properties instead of renting, thereby fueling demand in the lower price brackets.

Properties priced between $800,000 and $1,200,000 have exhibited more controlled growth. Buyers in this demographic often require financing, and the extended lead times associated with lending have tempered market activity. Despite these challenges, this segment continues to experience steady interest and gradual appreciation.

The median sales price in Albury currently stands at $837,500, representing a 7.3% increase from last year. The rental market is robust, with median rent returns climbing to $520 per week, up 11.8% from the same period in 2023.

The current median sales price in Wodonga is $545,000, reflecting a modest 3.8% rise from last year. This slower growth can be attributed to recent changes in government land tax policies. The rental return in Wodonga is currently $460 per week.

While the cost of living and uncertainty regarding interest rates remain concerns for many, the market continues to hold firm. The limited supply of quality housing and extended wait times for new builds are significant factors sustaining demand.

The lack of available good quality housing stock is a persistent issue. This scarcity, coupled with prolonged construction timelines, keeps pressure on existing properties, thereby supporting price growth.

The high rental returns are making homeownership a more attractive option for many. This trend is particularly evident among first home buyers and investors who are capitalizing on the financial benefits of purchasing over renting.

Overall, the Albury-Wodonga real estate market remains dynamic and resilient. Despite the challenges posed by economic factors and financing delays, demand continues to be driven by strategic shifts in buyer behaviour and supply constraints. As we move forward, the region is well-positioned for continued growth and stability, offering promising opportunities for both buyers and investors.

SOCIAL SNAPS

The Team having a break after day one at AREC 2024.

Some of the Stean Nicholls Team travelled to the Gold Coast for the Australian Real Estate Convention.

Congratulations! SOLD at Auction.

Lisa celebrated another lap around the sun.

Mikaela and some of the sales team took part in auction training.

A lovely night out on the Gold Coast.