3931
quarterly
market report
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Mornington
3931 market statistics Mornington property sales jan-mar 2013 price highest average median
$1,700,000 $384,224 $404,000
total
$63,012,752
# sales
106 (Houses, units & vacant land)
3931 who lives here?
research the market
3931 how do we live?
Things to do before you sell!
1.Research your market. See what other homes similar to yours are
available. How do they stack up in terms of price, size, features? An experienced real estate agent can help you with objective, data driven research.
2.Attend to minor repairs around the home. Get everything in ship-shape condition.
3.Clean your gutters – an easy one. 4.Tidy your garage. When was the last time you ventured in there? 5.Get your garden looking great. A well presented garden can go a long way towards first impressions when buyers inspect your home
6.Store
valuables away, perhaps at a relatives home.
7.Unit owner?
If you don’t always follow the latest owners corporation affairs getting up to speed on any issues will help you identify issues before the buyers bring them up
8.Set the stage for sale. Home staging and professional furnishing is growing in popularity and may help you achieve a better level of presentation leading to a higher sale price. Digital furnishing can also be a cost effective staging technique.
9.Engage a competant conveyancer or solicitor. A Section 32
Vendors Statement will set out all the particulars of your property and is a legal requirement for a property sale in Victoria. Get this befor you hit the market and your sale campaign will hit the ground running.
10.Speak with a local real estate agent professional. Your local
agent will have a wealth of knowledge that you can tap into from preparation to marketing and handling the eventual sale of your home. HANDY HINT - To assist our clients with getting their property ready for sale, ask PILOT about our database of more than 100 licenced and insured local contractors.
What influences Mornington real estate prices? We’ve considered our real estate experiences across the last decade and factored in the countless hours we’ve spent researching the Mornington real estate market to come up with this guide for you. 1. Is it a Buyers or a Sellers market? The law of supply & demand is strong in real estate. Are there more properties than there are buyers or vice versa? Different market forces can exist in Mornington, for example units may be in high demand in one neighbourhood but houses less so. 2. Jobs. People often live near where they work. Are there good long term prospects for employers in the area or are job losses imminent? Is the local economy diverse and strong? Property investors in particular look for stability. 3.Local & National issues. Are governments creating jobs or is the outlook bleak? Is an election coming up? What about school holidays and major public holidays? 4.The environment. Proximity to waste dumps, industrial or commercial facilities and major roads can adversely affect residential property values. Conversely, they may have a positive effect on commercial real estate values. 5.Neighbourhood amenity. Are there water views? Are quality schools nearby? Where are the parks and shops? Is there a beach nearby? How’s the traffic situation? 6.Interest rates. Not as important for mature buyers as they are for young families where their borrowing power may be limited. Who’s buying units in Mornington? Our research indicates there has been a strong recent increase in interest from buyers relocating from the Eastern and Bayside suburbs of Melbourne. The typical buyer is a Baby boomer looking to downsize from a larger home. In the local area, particularly Mount Eliza and Frankston South where there are many family homes with more than ¼ acre land, downsizers are a significant part of the current market. Investors are also recognising the value of Mornington real estate and the unspoilt natural environment of the Peninsula.
reliable real estate agents
Mornington BALCOMBE ST
4
1
$865,000
BAROONA ST
1
BENTONS RD
3
2
$700,000
1
$352,500
2
3
$1,420,000
2
$1,545,000
4
4
3
$869,000
3
CAMPBELL GR
1
CHANNEL ST
4
5
BRYDON CL
BUNGOWER RD
3
Jul-Sep 2014
2
1
$310,000
1
CONEY HURST CRE
4
4
2
$630,000
2
Mornington COTTAGE PL
3
2
$600,000
DAVA DR
2
DAVA DR
2
2
$528,500
2
$536,000
2
3
$1,700,000
2
$755,000
2
3
1
$450,000
1
ESPLANADE
1
FLAME TREE GR
4
4
ELIZABETH ST
ESPLANADE
2
Jul-Sep 2014
2
2
1
$420,000
1
FLEET ST
4
2
$500,000
2
Mornington GILGA ST
3
1
$335,000
GINNIE CRT
2
HERBERT ST
2
1
$377,500
2
$450,000
1
1
$375,000
2
$475,000
2
3
1
$511,000
1
KING GEORGES AVE
1
WILSONS RD
2
4
HERBERT ST
JOHNS RD
3
Jul-Sep 2014
3
1
$489,500
2
TANTI AVE
1
3
2
$785,000
2
RELIABLE REAL ESTATE AGENTS
Dava Drive Shops 2/1 Hoylake Grove Mornington
Tel: 5976 1273
When it comes to selling real estate on the Mornington Peninsula, you can count on us. We are your local experts. What makes us different? Our reliable and accurate estimates of sale price. We guarantee to show show you 3 x recent sold properties comparable to yours. Then we use our unique research & intelligence collected from buyers in the Mornington market to arrive at a reliable opinion of value. The end result is we can attract the best quality buyer to your property to get the maximum sale price. About this report: We have compiled a selection of Mornington sales to produce a unique and informative resource for property owners.
About Luke
Luke is the PILOT company founder. He holds a Diploma of Art (Graphic Art) from Chisholm Institute and is a licenced real estate agent. He is a member of the Real Estate Institute of Victoria. “My knowledge of the Mornington Peninsula combined with my tertiary design qualifications work together to provide cutting edge real estate marketing which are a unique advantage for my clients” says Luke. When he’s not selling real estate, Luke spends time with his young family and keeps fit by surfing and swimming. Lukes highest sale price is $2.37 million.
Get in touch Luke loves talking real estate! Mobile: 0433 694 994 luke@pilotrealestate.com.au