The Peer Review | Issue 11

Page 1

ALL THINGS EQUAL:

The social enterprise café serving up orders and opportunities

THE SOFTER SIDE OF DARREN KRONGOLD: An interview with Caulfield’s favourite family man

IN THE ZONE: The importance of school catchments in real estate

THE PLACES, SPACES & FACES OF YOUR COMMUNITY

the review Issue 11

FROM THE EDITOR

Taking trains through France and Italy’s sun-drenched terrain on a recent holiday – exploring their cities; meeting their people – I was struck by the European way of life.

What captivated me was the human scale of Europe’s medium-density living – its three- to seven-storey buildings; many built around parks, gardens, and village squares – and how it knits the very fabric of communities, villages, and cities together.

It got me thinking about how it might just be the key to solving Australia’s housing crisis.

By applying these European insights to our own patch, I believe we can introduce newer, more accessible forms of housing – and rejuvenate the first-home dream for young Aussies. (Now I’m back, I’ll be talking about this with all the architects, town planners, and political friends I know –plus whoever else will listen!)

Being away was brilliant, but it’s so good to be on Melbourne turf again. A place where, despite our moans and groans, winter isn’t that bad. Where the chill of July quickly becomes the fresh, floral air of September – and the sun’s never too far away.

I’ve always loved spring. It’s a time when everyone seems to be in a good mood. A season of revitalisation, rejuvenation; a reawakening of the body and mind.

A time to grow as people. As professionals. And, together, as a brand and business. (Incidentally, one in which you or shorts – and be equally comfortable!)

Speaking of growth, the copy of The Peer Review you’re holding is bigger (and better) than ever.

Traversing Beijing to Bentleigh, this bumper issue covers a diverse array of topics: from feng shui to school zones. You’ll dive into Darren Krongold’s story; find out what makes Murrumbeena so magical; and meet the Carlisle Street café serving up so much more than good coffee.

Our local property market experts are also back, for all the latest insights into the southeastern streets and suburbs

This time, though, they’re joined by Dizzy, Kevin, and Yan for their take on Melbourne’s Asian buyer’s and seller’s market: which you’ll find, in both English and Mandarin, within.

I believe it’s our best issue yet. And I have a sneaking suspicion you’ll agree.

Anthony Lee reveals all that makes Murrumbeena beautiful.

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State of Play. Explore the latest market insights, from our experts on the ground. Browse your suburb’s key property sales data – and its most beautiful homes.

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State of Play

Riding the wave of real estate success. Caulfield’s favourite family man talks us through his upbringing, life, and career to date.

©

THE PEER REVIEW | 3
Features 04 ‘A place to come home to’: Anthony Lee on why there’s more to Murrumbeena than meets the eye 08 All Things Equal: The social enterprise café serving up orders and opportunities
In the zone: The importance of school catchments in real estate
In this issue
14
How Ottimo Coffee champions good coffee and community
The softer side of Darren Krongold: an interview with Caulfield’s favourite family man
How to bring harmony to your home: Your guide to good feng shui
They loved it, they bought it 20 Key data by suburb 22 Market updates 24 Property Management update 26 New Projects update 28 What’s happening in Melbourne’s Asian property market?
to finish…
What’s been happening at Gary Peer?
Our people
information was correct at the time of printing. Published by Gary Peer & Associates Pty Ltd.
State of Play data sourced in this report covers properties sold in the entire industry. Data is extracted from reiv.com.au
a date range
April to June
18
And
40
42
All
The
with
of
2023.
04 18 32
Copyright 2023
ways

‘A PLACE TO COME HOME TO’:

Anthony Lee on why there’s more to Murrumbeena than meets the eye

4 | THE PEER REVIEW

Since 1990, Anthony Lee has worked in – and lived close to – Murrumbeena.

A place for frogs and domain of lions, Murrumbeena is the suburb that manages to keep moving forward – all while staying in the same place.

So what does the Branch Manager of our Property Management team love about Murrumbeena?

Where are his go-to coffee hotspots? How does he describe the suburb to people who’ve never been – and why is now the right time to buy there?

We sat down with Anthony – our very own ‘Mr Murrumbeena’

to find out.

THE PEER REVIEW | 5

Fresh cuts, fresher coffee: what makes Murrumbeena beautiful

When Anthony talks about Murrumbeena, it’s with a twinkle in his eye. And a warm, relaxed air.

It’s immediately clear that this is a man with a pure, unadulterated love of the suburb he calls home. And an extensive knowledge of it, too.

‘I’ve eaten at every restaurant here; sipped lattés at every coffee shop. I’ve leased properties on every street, and could draw you a map of each. Murrumbeena has one dirt road – and I can tell you exactly where to find it!’

Anthony gets his hair cut at the local barber, eats at nearby restaurants, and sips coffee, regularly, at Murrumbeena’s vibrant collection of cafes. (When Anthony’s peckish, both Levi and Jack the Milkman top the pecking order.)

The man doesn’t simply love Murrumbeena. He is Murrumbeena!

Which begs the question. What does Anthony love most about the suburb he’s spent over three decades working in?

‘It’s got a bit of the urban café culture, with a wide range of restaurants close by. It has a magnificent mixture of people, from all corners of the globe. And it lays claim to all the lush green parks, sports facilities, and leafy cul de sacs that make any suburb lovely – and liveable.’

Low profile, high demand: Murrumbeena’s appeal

Good coffee? Check. Beautiful, tree-lined streets? Check. Sex appeal? Well…

‘Over the years, I’ve grown to appreciate Murrumbeena more and more. It’s never been seen as a ‘sexy’ suburb –but it’s hugely underrated.’

So – would your average Melburnian know where Murrumbeena is?

Anthony chuckles.

‘Nope! Usually, I have to explain that it’s the suburb between Caulfield Racecourse and Chadstone Shopping Centre. Then, people know where it is!’

Given its low profile, you’d be forgiven for thinking Murrumbeena isn’t the first suburb on the shopping list for people moving to Melbourne.

But according to Anthony, quite the opposite is true.

‘I’m constantly, pleasantly surprised by the amount of people, from all over the world, who end up in Murrumbeena. But it makes sense: students are close to Monash University’s Caulfield campus, and aren’t too far from Clayton.

‘Transport-wise, we’re well connected. Plus, prices –whether you’re renting or buying – tend to be more affordable than in nearby Malvern or Caulfield.’

6 | THE PEER REVIEW
‘A PLACE TO COME HOME TO’
Close to – but far enough away from – the crowds, Murrumbeena blends calmness with convenience. In Anthony’s words, it’s a kind of “sleepy hollow” – in all the best ways.

Resilience and convenience: Murrumbeena’s secret

So, Murrumbeena is affordable. But is there a ‘good’ time to buy there?

Absolutely, says Anthony – all the time!

‘Any time you can afford to buy in Murrumbeena is a good time. It’s one of those rare places where rents, in periods of ‘doom and gloom’, tend to be affected later –and recover sooner.

‘It’s an extraordinarily resilient suburb.’

Why? Well, as the old adage goes, location, location, location

Flanked by Carnegie to the west, Oakleigh to the east – and sharing borders with bedfellows Bentleigh East and Malvern East – Murrumbeena’s in good company.

As for convenience, you can be on the Monash Freeway in four minutes, at Australia’s largest and best shopping centre in five, and in Melbourne’s CBD in 15.

Asked to describe the growing popularity of the suburb’s location, Anthony points to geography – and to basic physics.

To the fact that, while Melbourne has expanded outwards, Murrumbeena hasn’t moved.

‘30 years ago, we used to call Murrumbeena a ‘Middle Ring’ suburb. Now, it’s almost an inner suburb! In many ways, Murrumbeena feels more convenient, and closer to the city, than it’s ever been. While retaining its quiet, underappreciated, and quite beautiful nature.’

‘Go Beena!’: 105 years of roaring sporting success

The name “Murrumbeena” comes from the Aboriginal word ‘mirambena’.

Different readings interpret mirambena as meaning ‘welcome’, ‘belonging to you’, or referring to a member of the native police.

Another meaning? ‘A place for frogs’.

It makes sense, after all. Murrumbeena is a stone’s throw from Gardiners Creek, a stream that feeds the Yarra River. Frogs thrive there.

But ask Anthony which animal symbolises Murrumbeena, and it isn’t the frog. It’s the lion

Proud. Powerful. Sure-footed. This lion-hearted beast is the symbol of one of Murrumbeena’s most vital community hubs and institutions – its football club.

‘I spend a lot of time watching Murrumbeena Football Club. You might find me yelling ‘Go Beena’ down at the Kangaroo Road local sporting facilities, whatever the weather!’

The club has been around for 105 years, which speaks to sport’s enduring strength in – and importance to – the Murrumbeena community.

‘Every weekend, you’ll see families there,” Anthony continues. “Cheering on their children’s football, cricket and netball teams, and having a good time. It’s amazing to see.’

Calmness and convenience: a place to come home to Nestled between several ‘noisy neighbours’ – the controlled culinary chaos of Carnegie, and Chadstone’s commitment to consumerism – Murrumbeena offers a sweet spot of tranquillity.

Close to – but far enough away from – the crowds, Murrumbeena blends calmness with convenience. In Anthony’s words, it’s a kind of “sleepy hollow” – in all the best ways.

But Murrumbeena is more than an oasis, or a peaceful, pleasant place to hang your hat.

It’s a place to come home to.

‘I’ve travelled all over the world,’ says Anthony. ‘New York, Barcelona, Ko Samui, Mallorca, Queenstown. But wherever I’ve been, coming back to Murrumbeena – indeed, being able to call this area home – always brings a smile to my face.

‘There’s so much to see, and to do. So step over our side of town – and find out for yourself!’

Read more about the southeast Melbourne communities we call home –on The Peer Blog

THE PEER REVIEW | 7
ANTHONY LEE ON WHY THERE’S MORE TO MURRUMBEENA THAN MEETS THE EYE

ALL THINGS EQUAL:

The social enterprise café serving up orders and opportunities

8 | THE PEER REVIEW

In Balaclava, on the corner of Carlisle and Westbury, sits All Things Equal.

Bold and bright in stark yellow, the café’s doors are flung wide open.

Natural light pours in. The walls crawl with greenery. And it’s packed to the rafters with people – whether working or dining – who are genuinely happy to be there.

Because All Things Equal is more than a café. It’s a social enterprise serving up delicious food – and well-deserved opportunities for people with a disability.

And, whether you want to contribute to the cause (or just find a new local), you can help.

We sat down with General Manager Bianca Stern to find out how.

THE PEER REVIEW | 9

A startling statistic: All Things Equal’s first –and giant – steps

The unemployment rate for people with a disability – more than double that for people without one – hasn’t changed in 28 years.

Having a daughter with autism, All Things Equal founder Jonathan Wenig knew this was a statistic that needed to change. ASAP.

‘Tali, Jonathan’s daughter, went to a school called Giant Steps,’ Bianca explains.

Giant Steps is a specialist school for individuals on the autism spectrum.

At Gary Peer, we know it well. In fact, our very own Phillip Kingston hosted an auction at a recent Giant Steps gala dinner. Helping to promote a wider understanding of autism in the community – and cultivating opportunities for inclusivity.

‘Tali loves to bake, and found a safe space in the kitchen,’ Bianca continues. ‘But when Tali was ready to join the workforce, there were no employment opportunities out there for her.’

So Jonathan brought together a group of passionate people. Together, they became the All Things Equal board. And the rest, as they say, is history.

10 | THE PEER REVIEW ALL THINGS EQUAL
Above: Bianca Stern, General Manager
We’ve never put a cent into formal marketing. Yet in the first six months after opening, I had about 20 people approach me in desperate need of work.

Beginning with a bang: Balaclava’s newest hotspot

All Things Equal first opened its doors in January 2021 –with COVID shutting them not long after.

Yes, takeaway coffees and toasties were still on the menu. But – as anyone in hospitality knows – All Things Equal started out in the most difficult industry. At the most difficult time. Yet from the get-go, the demand for work (and caffeine!) was overwhelming.

‘We’ve never put a cent into formal marketing,’ Bianca shares. ‘Yet in the first six months after opening, I had about 20 people approach me in desperate need of work.’

And it wasn’t only potential employees looking to get their foot in the door. The Balaclava faithful came out in full force for All Things Equal’s launch.

‘Our community backed us right from the start. They’ve been so patient while we continue to improve and perfect our training program,’ says Bianca. And it was only up from there.

Branching out: Sustaining an evergreen business model

Today, after fewer than three years of being in business, All Things Equal’s branches have spread far and wide – and its roots in the community run deeper than ever.

There’s the flagship café in Balaclava. A smaller café in Windsor. Canteens in collaboration with AJAX Junior Football Club. And a Balaclava-based cooking school, complete with 1:1 tailored support, delicious dishes, and a dinner party to finish. And the enterprise is ever-growing.

‘We’re developing a catering component of All Things Equal,’ Bianca says. ‘It’s a whole new pathway that will help us get even more individuals with disability into work.

‘But it’s also something we can provide to our community. The more we can offer them, the more sustainable, as a business, we become.’

And, with a demand – a need – as high as All Things Equal’s, sustainability is a top priority.

The future of business: What is a social enterprise?

A social enterprise exists to create a fairer, more sustainable world.

In All Things Equal’s case, it’s to prove that people with a disability are ready to, willing to, and absolutely capable of work – and deserving of equal pay.

So, what is the disability pay disparity?

‘In Australia, there’s something considered a supported wage,’ Bianca explains. ‘Which means employers can pay an individual with a disability $2 an hour for their work.

THE PEER REVIEW | 11 THE SOCIAL ENTERPRISE CAFÉ SERVING UP ORDERS AND OPPORTUNITIES

‘At All Things Equal, we pay the full café restaurant award wage – that is, the minimum pay entitlement – of $26 (and up) per hour.’

The only problem? The waitlist of 50 to 60 people in desperate need of their first-ever paid job.

‘Social enterprises are the future of business,’ says Bianca. ‘But we need people to get on board.

‘So if you’re tossing up between two services with competitive prices and the same quality food – but one is a social enterprise – why wouldn’t you put your money towards a greater purpose?’

All Things Equal has already employed 25 young adults with disability to date – and paid over $220,000 in award wages to those individuals.

And with your help, they can make even more of an impact.

Ripples of change: Your role in uplifting a community

Disability in the workplace has been a taboo topic for too many years.

But All Things Equal continues to prove that with inclusion comes capable contributors to society. And it’s always looking for people to join it on the journey.

‘We’re moving away from this approach of us being an equal employer alone, to actually being a training ground for people with a disability,’ says Bianca. ‘Where they can learn everything they need about the workforce before taking their place in it.’

All Things Equal is always looking for support. So how can you play a role?

12 | THE PEER REVIEW ALL THINGS EQUAL
When a person with a disability is offered employment, it uplifts more people than only them. It also supports their parents, siblings, aunts, uncles, cousins and friends.

It could be as simple as hiring All Things Equal’s catering service for your next event. Working with the team – even approaching them to say hello or ask what they’re up to. And if you run a business, you could also offer work experience – or even equal employment – to the All Things Equal team members.

Your contribution won’t go unnoticed. And its ripple effect will travel further than you’ll ever know.

‘When a person with a disability is offered employment, it uplifts more people than only them,’ Bianca shares. ‘It also supports their parents, siblings, aunts, uncles, cousins and friends.’

Because nothing is more powerful than purpose.

So, what’s on the menu?

Amazing mission aside, All Things Equal is also serving up amazing food

Inclusive in more ways than one, this classic Melbournestyle brunch café is vegetarian, pescetarian, and – in order to meet the needs of its local community – kosher certified. With so many options, Bianca finds it hard to choose a favourite.

‘Well, the classic toasties are delicious,’ she recommends. ‘Our shakshuka is really good, too. Oh! And the poke bowls!

‘But if I had to choose a favourite, it’d be the Avo Green Benny.’ All delicious choices. But when we’re ordering, it’s hard to go past the ricotta hotcakes. Enjoy!

Want to get involved in a mission that doesn’t just feel good – but tastes good, too? Email hello@allthingsequal.com.au to take the first step!

Read this article – and plenty more –on The Peer Blog.

THE PEER REVIEW | 13 THE SOCIAL ENTERPRISE CAFÉ SERVING UP ORDERS AND OPPORTUNITIES

The importance of school catchments in real estate

When buying a house, some people go for the views. For others, it’s the size of the land, the style of the kitchen –or the distance from the CBD.

But for many, there’s one make-orbreak factor that stands above all: the school catchment zone.

Our Bentleigh Director Leon Gouzenfiter tells us the top school zones in the southeast. Unpacking how they affect property prices – and if they’re really worth the investment.

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THE PEER REVIEW
IN THE ZONE :

The southeast’s sought-after schools

Victoria is known as the Education State. (And that’s not just a tagline to make our rego plates look good!)

Why? Top universities aside, Melbourne is also home to some of the country’s best primary and secondary schools –with some of them found right here in the southeast.

The catch? (Excuse the pun.)

Some of these schools’ core intake of students must live within a catchment zone – the designated geographical area for the local school.

‘The biggest well-known zone catchment in our area is the McKinnon Secondary College zone,’ Leon says. ‘Followed by the Brighton Secondary College zone.’

The other zones people go for are the primary school ones, including the Caulfield South Primary, Gardenvale Primary, Bentleigh West Primary, McKinnon Primary, and Coatesville Primary zones.

According to Leon, an important one.

School zones: the North Star to some

Some families pay a premium to buy a house within a certain catchment zone – simply to ensure their children can go to their primary or secondary school of choice.

And they know exactly what they’re after.

‘Many buyers, particularly new Australians and migrants, are led by school zones rather than suburbs,’ says Leon. ‘These families place education at the top of their list when looking for a place to settle down.

‘If they don’t get their first-choice school zone – McKinnon, for example – they won’t go next door to Bentleigh. They’ll go to the highly sought-after school zones of Glen Waverly or Balwyn – moving suburbs completely for the top schools on their list.’

Leon also notices that school zone buyers aren’t just passionate – they’re particular

‘They’re very specific in what they are looking for –especially in terms of secondary schools.’

In contrast, families tend to be more flexible when it comes to primary schools. As long as they get into Caulfield South, Gardenvale, McKinnon – or some of the other top schools in the area – they’re happy.

THE PEER REVIEW | 15
So – just how important a role do school zones play in the property decisionmaking process?

A one-way street in property value

It shouldn’t come as a surprise that school catchment zones play a big role in property prices. The higher the demand for a zone, the higher the value of its homes.

A simple example?

When the McKinnon Secondary College zone was extended in the last two years, it almost immediately boosted the value of houses that came into the new zoning.

‘Areas that were previously out of the zone – Bentleigh East and east of East Boundary Road – became included,’ says Leon.

‘And some of them saw property prices increase by up to 50%.’

On the flip side, is it possible for school zones to change in a way that negatively affects homeowners?

Yes, but – according to Leon’s 16 years of experience in real estate – it’s incredibly rare for a catchment to change in a way that excludes current areas. And it’s never happened in southeast Melbourne.

‘When high-demand school zones do change, they tend to get bigger,’ he says. ‘They include – not exclude!’

What about private schools?

Private schools don’t generally come with a catchment zone. But, unless you enjoy driving a distance to drop your kids off at school, location should still be top of mind.

Leon agrees.

‘People opting for private schools still look at proximity: so they don’t have to travel far to drop off, and pick up, their kids. Living close to school also means that, when they’re old enough, kids can make their own way there on foot.

‘So yes, although there are no private school catchment zones, we’re still seeing home buyers target specific streets and suburbs.’

Those who want to enrol their children in Haileybury and St Leonard’s might try buying beachside in Brighton. Or, for Brighton Grammar or Firbank Grammar, looking at inner Brighton.

‘There are also people who want to buy around Caulfield North, Elsternwick and St Kilda East to be closer to Caulfield Grammar and Shelford Grammar,’ Leon adds. ‘Kilvington Grammar is another private school in this area that’s on the rise.’

An uptrend fuelled by migration

There’s an uptrend of activity for homes in southeast Melbourne’s school zones – and for the area’s houses in general.

And, according to Leon, the demand is only going to get hotter.

‘We believe it’s fuelled by migration,’ he says. ‘Obviously with COVID, we’ve been on pause for three years. Now our borders are open again, there are lots of people who want to come here.’

16 | THE PEER REVIEW IN THE ZONE

It’s something Leon – himself born overseas before moving to Melbourne at an early age – feels both positive and passionate about.

‘If you go back more than about three generations,’ he continues, ‘most people in this area would probably find someone in their family a migrant at some point.

‘We all come from somewhere – and that should be celebrated.’

Are school zones important for everyone?

There’s certainly huge potential for investing in properties within the school catchment zone.

But if you don’t actually need the zone to access the local schools, you may be better off investing somewhere else. Unless, that is, you’re overpaying to get into it with a longterm view.

‘It can be a cash-out option,’ Leon allows. ‘I’ve seen people sell out of the zone: especially if their kids were either finished, finishing, or established in the school.

‘If a homeowner doesn’t need to be within the zone anymore, they might sell to relieve some money, reduce their debts and exposure, or diversify their investment.’

Having said that, he stresses that our house is usually our biggest asset.

‘People might stop buying luxury items or going on overseas holidays. But generally, the mortgage is the last thing that people want to default on.

‘I haven’t seen a run of people selling just to cash out on the school zone or because the interest rates are hurting them. Not in our area.’

A worthy investment – in more ways than one

It’s (often quite literally) the million-dollar question.

Is it worth investing in houses within school zones?

According to Leon, it’s a big yes.

‘The quality of the schools in some of these zones is equivalent to private. So for families that may not have the means to invest in private education, securing a home within a good school catchment zone is vital. They’ll gain high-quality education for their children – on a budget.’

It’s a win-win. Not only are you investing in your children’s future, but in an asset that’ll hold – and increase – its value for generations.

Leon’s final tips?

‘If you can afford to spend, you should. Give your kids the best opportunity for education. And, when you don’t need it anymore – when you do sell it – you’ll get all that money back.’

Want personal, practical tips and insights – to help you navigate southeast Melbourne’s property market? Check out The Peer Blog for more.

THE PEER REVIEW | 17 THE IMPORTANCE OF SCHOOL CATCHMENTS IN REAL ESTATE

STATE OF PLAY

Recent

18 | THE PEER REVIEW
key suburb data, market
and so much more.
sales,
insights
1-8/26 Byrne Avenue, Elwood Sold before auction with 4 bidders 5 Leaburn Street, Caulfield North Sold at auction
They loved it, they bought it
40 Langdon Road, Caulfield North Sold at auction
5 4 4 4 4 2 View more recent sales Loved it Bought it Q2 2023 10 9 9
15 Peacock Street, Brighton Sold before auction 1 Alma Grove, St Kilda Sold for $2,200,000
THE PEER REVIEW | 19
3 1 1 4 3 3 5 2 3
12 Auckland Street, Bentleigh Sold by expressions of interest 17B Robe Street, St Kilda Sold for $1,261,000 with 4 bidders 2 2 2 22 Preston Road, Hughesdale Sold at auction for $2,305,000 with 5 bidders 3 Wilgah Street, St Kilda East Sold before auction for $1,675,000 22B Alder Street, Caulfield South Sold at auction for $2,180,000 with 3 bidders
2
2
22 Byron Street, Elwood Sold for $1,400,000
2 1
Loved it Bought it 4
4

Key data by suburb

Source: The data sourced in this report covers properties sold by the entire industry. Data is extracted from reiv.com.au with a date range of April to June 2023. Please note that some suburbs may not have any statistics due to insufficient data.

Balaclava Bentleigh

Bentleigh East

Brighton East Carnegie

Caulfield East

Caulfield Caulfield North

Caulfield South

20 | THE PEER REVIEW STATE OF PLAY
HOUSES UNITS Median sale price $1.55m $615k Quarterly price change -5.4%* 5% Median rent $710pw $430pw Rental yield 2.4% 3.8% HOUSES UNITS Median sale price $2.36m $1.4m Quarterly price change -3.9% 14.9% Median rent $900pw $668pw Rental yield 2% 2.6% HOUSES UNITS Median sale price $1.55m $1.06m Quarterly price change -15.3% 42.3% Median rent $700pw $548pw Rental yield 2.2% 3.1% HOUSES UNITS Median sale price $1.69m $621k Quarterly price change 10.6% 2.2% Median rent $600pw $420pw Rental yield 1.9% 3.6% HOUSES UNITS Median sale price n/a $640k Quarterly price change n/a 10.3% Median rent n/a $440pw Rental yield n/a 3.6% HOUSES UNITS Median sale price $1.42m $1.2m Quarterly price change 0.9% 13.4% Median rent $650pw $650pw Rental yield 2.4% 3.1% HOUSES UNITS Median sale price $1.9m $1.06m Quarterly price change 0.4%* 28.4% Median rent $803pw $485pw Rental yield 2.2% 3.1% HOUSES UNITS Median sale price $2.66m $530k Quarterly price change 7.8% -22.6% Median rent $800pw $500pw Rental yield 1.7% 4.3% Clearance rate 82% Clearance rate 82% Clearance rate 85% Clearance rate 86% Clearance rate n/a Clearance rate 87% Clearance rate 93% Clearance rate 79% Properties sold 18 Properties sold 76 Properties sold 65 Properties sold 95 Properties sold 6 Properties sold 136 Properties sold 18 Properties sold 70 Av. days on market 39 Av. days on market 36 Av. days on market 56 Av. days on market 40 Av. days on market n/a Av. days on market 45 Av. days on market n/a Av. days on market 44
HOUSES UNITS Median sale price $1.64m $735k Quarterly price change -14% -15.6% Median rent $718pw $515pw Rental yield 2.1% 2.7% Clearance rate 84% Properties sold 50 Av. days on market 39

Elsternwick

Malvern East

Elwood McKinnonast

Glen Huntly

Ormond

Murrumbeena

St Kilda East

Ripponlea St Kilda West

St Kilda

THE PEER REVIEW | 21 Q2 2023
more suburb statistics visit our website
Annual price change
For
*
HOUSES UNITS Median sale price $1.49m $659k Quarterly price change 2.4% 20.2% Median rent $750pw $450pw Rental yield 2.6% 4% HOUSES UNITS Median sale price $2.15m $765k Quarterly price change 30.7% 25.5% Median rent $750pw $410pw Rental yield 2.3% 3.6% HOUSES UNITS Median sale price $1.78m $648k Quarterly price change -13.4% 9.7% Median rent $800pw $460pw Rental yield 2.1% 3.8% HOUSES UNITS Median sale price $2.28m $615k Quarterly price change -3.7% -11% Median rent $873pw $490pw Rental yield 2% 4.1% HOUSES UNITS Median sale price $3.28m $491k Quarterly price change 36.8%* 0.6% Median rent $1,125pw $423pw Rental yield 1.8% 4.2% HOUSES UNITS Median sale price n/a $618k Quarterly price change n/a -7.5%* Median rent n/a $425pw Rental yield n/a 3.6% HOUSES UNITS Median sale price $1.95m $831k Quarterly price change 14.6% -26.6% Median rent $730pw $550pw Rental yield 2.2% 2.9% HOUSES UNITS Median sale price $1.85m $690k Quarterly price change -36.5% 2.6% Median rent $950pw $450pw Rental yield 1.9% 3.5% HOUSES UNITS Median sale price $1.57m $543k Quarterly price change 30.9% 5.4% Median rent $795pw $450pw Rental yield 2.6% 4.4% HOUSES UNITS Median sale price $2.01m $585k Quarterly price change 17% -7.4% Median rent $608pw $380pw Rental yield 2% 3.3% HOUSES UNITS Median sale price n/a $693k Quarterly price change n/a 16.4% Median rent n/a $430pw Rental yield n/a 3.9% Clearance rate 78% Clearance rate 93% Clearance rate 77% Clearance rate 74% Clearance rate n/a Clearance rate n/a Clearance rate 64% Clearance rate 67% Clearance rate 65% Clearance rate 82% Clearance rate 93% Properties sold 56 Properties sold 29 Properties sold 85 Properties sold 61 Properties sold 13 Properties sold 8 Properties sold 23 Properties sold 87 Properties sold 143 Properties sold 54 Properties sold 22 Av. days on market 50 Av. days on market 43 Av. days on market 44 Av. days on market 39 Av. days on market 44 Av. days on market n/a Av. days on market 33 Av. days on market 44 Av. days on market 37 Av. days on market 50 Av. days on market 47

Market updates from your local property experts

Gary

What’s happening in the market?

JEREMY:

Jeremy: The apartment market – which was in a kind of slumber earlier in the year – is back. With a bang!

Buyer depth and interest have returned in numbers. And apartments – particularly established ones – are among the biggest beneficiaries.

But while buyers are back, stock has been slower to the party. So while the media may be quick to apply a negative spin on our suburbs’ stock squeeze, it’s this shortage that’s actually driving the market.

LEOR:

Leor: When properties that are priced well in line with the current market go live, we’re receiving huge amounts of inquiries. Demand is high due to the low supply of offerings around: as our auction and open-home attendances (not to mention our email inboxes!) attest to. Better still, our sellthrough rate is high

LEON:

Leon: Another thing that’s high, however, is the cost of construction – and interest rates. These – combined with a flurry of changes to land tax and compliance laws – are proving, for some rental providers, to be the straws that broke the camel’s back.

It’s why we’re seeing many property owners (particularly those with predominantly land-based portfolios) choosing to divest. Something that, in turn, is stimulating market activity.

GARY:

Gary: Aside from a couple of outstanding results in the Golden Mile of Caulfield North (Aroona Road, in particular, has been a hotbed of high-end activity), the prestige market has been quiet.

But we don’t expect it – or Melbourne’s property market at large – to stay that way for long.

As we work through the worst of the winter weather, the glimmer of a strong spring (and, hopefully, some sunshine!) is on the horizon. Sellers often wait for the warmer months to list their homes – and launch a strong campaign with us.

22 | THE PEER REVIEW STATE OF PLAY
Peer, Jeremy Rosens, Leon Gouzenfiter and Leor Samuel offer their latest takes on southeast Melbourne’s property market.
Find out which properties are in vogue across the Glen Eira and Bayside areas. Explore last quarter’s standout sales. And keep your finger on the pulse of what’s selling in the streets and suburbs you call home.

What properties are in the hottest demand?

Homes that are modern, renovated, or freshly built are getting more traction than anything else in the market.

Conversely, homes requiring more work (land-value properties, for example, or ones requiring renovation) are less popular.

In Carnegie, we saw excellent results on two beautiful period homes: each contested by five bidders across a pair of pulsating auctions.

The first, at 13 Reserve Avenue, sold for $2,360,000 –around 10% over the reserve. The second, Hughesdale’s 22 Preston Road, went for $2,305,000 – exceeding the reserve price by over $350,000.

LEON:

LEOR: LEON:

Leor Turnkey properties are still turning heads –particularly period homes, villas, townhouses, and ones that don’t need a major overhaul. In Carnegie, we’re transacting well on modern apartments, too – albeit at price levels in line with previous years.

Leon: Generational properties are getting a lot of attention, too. Most of our house auctions are attracting bidders in their droves – and we expect the second half of the year will be just as strong.

Leon: 4 Wimmera Street – a five-bedroom art deco period treasure in Ormond – saw two determined bidders going toe to toe in an exciting auction. The first bid came in at $100,000 over reserve – as the house changed hands for an impressive $2 million.

GARY:

Gary: In recent months, properties priced between $1 million and $1.5 million have become a bit of a hotspot. That said, buyers are still quite selective. And, when they’re hunting for properties, they’re quickly sorting available homes into two categories: the ‘haves’ and the ‘have nots’. For homes that tick all the boxes, we’re seeing as many as seven or eight bidders contesting at auction. By contrast, homes lacking that mass appeal are attracting just one or two bidders.

GARY:

Gary: Also in Leon’s neck of the woods, the 1930s Spanish Mission-style home at 585 Nepean Highway, Brighton East, saw over 90 inspections and enquiries. Five bidders competed for this stunning three-bedroom home on auction day, and it sold comfortably – for $150,000 above the asking price.

Considering the home’s main road address (which, traditionally, can make a house more challenging to sell), our team ran an incredible campaign.

What’ve been this quarter’s standout sales?

JEREMY:

Jeremy: The beautiful homes at 1 Alma Grove and 47 Raglan Street both outperformed expectations: selling for $2.2 million and $1.74 million, respectively.

Over at 17B Robe Street, St Kilda, four bidders competed for the purchase of the 113-year-old two-bedroom, twobathroom home of Tom Kirkhope – founder of popular shoe company Alias Mae – at auction. It sold for $1,261,000.

THE PEER REVIEW | 23 Q2 2023
Thinking of selling your home? Get in touch with your local Gary Peer & Associates agent today to request an appraisal.

Property Management update

That’s because for one, recent changes in legislation – as well as the possibility of rent caps and freezes – have thrown the cats of instability and uncertainty amongst the pigeons of the rental market. For another, a heady cocktail of factors – including land tax increases, compliance demands, and interest rate rises – have inflated expenses for rental providers.

That said, the outlook is far from gloomy – in fact, it’s quite the opposite! We expect the market to remain stable over the next few months. And, come spring, to be welcoming in a period of increased activity and interest to keep the rental market moving forward.

In the first half – July to December – rents were down; stock was up. But in January, things started to shift –with March heralding a pivotal change in the market. And the six months since have been characterised by reducing vacancies and increasing rents – an excellent combination for all our rental providers.

Now, as we navigate winter’s depths, we’re seeing a familiar pattern emerge.

Pre-pandemic, winter was always a quieter time. Melburnian’s renters batten down the hatches; go into hibernation. (Few of us want to move when it’s cold and wet, after all!) But with the onset of COVID-19, there was a new rule – no rules! So for the last two to three years, there have been no summer peaks; no winter troughs. Just a frenzied, fast-paced market.

Now, the property management scene is returning to the sway of those seasonal trends. Meaning the slight lull we’re seeing right now is a kind of Back to the Future moment; a traditional winter slow-down. Not ideal, necessarily – but not unexpected, or unprecedented.

And certainly nothing to worry about!

Another thing that happens at the end of the financial year? Accounting. Rental providers will be sitting down to balance the books and crunch the numbers. And many may be making strategic decisions about whether to keep, or sell, their investments.

With overseas Aussies coming home and an ongoing influx of expats, one- and two-bedroom apartments are – and will remain – hot commodities. Conversely, those higherend four- to five-bed properties – have loosened their once indomitable grip on the market.

There are a couple of reasons for this. The first? That, with a lot of people back in the office, the space tenants once needed for a home office – that bedroom-turned-study – is no longer essential. The second? That tenants, across the board, are tightening their pecuniary belts.

Still, there will always be strong tenant demand – regardless of budget – for well-presented properties.

Our advice? Speak to one of your friendly, experienced property managers. We’ll help you understand how to make your property both compliant and attractive. And set it up for success!

Looking for someone to manage your investment?

24 | THE PEER REVIEW STATE OF PLAY
With the 2022/23 financial year in the rearview mirror, it’s worth reflecting on what a topsy-turvy 12 months it’s been.
Our experienced, engaged team will look after your property like it’s our own.

0412 320 302

You’ve been at Gary Peer for 32 years (and counting!).

What’s kept you here?

In a word? It’s Gary

He’s honest, trustworthy, reliable – those traits all resonated with me. And still do!

What’s the culture like in the St Kilda Property Management office?

The team right now is, quite simply, one of the best groups of people we’ve ever had.

Everyone is there to support each other; to help out. If someone can’t work one Saturday, or their car is out of action, hands are going up. ‘I’ll fill in for you,’ or ‘I’ll go there for you.’

The concern – I’ll call it love – people here have for each other: I’ve never seen that before.

What’s the key to succeeding as a property manager?

Property management is about three things: Being organised. Solving problems. And communicating – all day, every day.

Empathy, too. You need to take an open, non-judgmental approach to every conversation. To understand, and empathise with, the person you’re talking to.

What do you love most about your role?

I enjoy that mix of being in the office and out on the road. You’re meeting people every day – something I still love.

I like to learn about other people – tenants, rental providers, tradespeople – because you quickly realise that everyone has a story to share.

And I love stories!

THE PEER REVIEW | 25 Q2 2023
9526 1918
A CONVERSATION WITH Harry Lustig, Team Leader and Senior Property Manager
26 | THE PEER REVIEW STATE OF PLAY
Director 0412 713 121
Seymour & Blanche – design brought to life through the subtleties of light and space.
Construction starting

They say that the only constant is change. But for the new projects market, at least, the last three months have ushered in a remarkable period of stability. And the only constant for us has been Melbourne home buyers’ voracious appetite for new-build property.

People have always loved new. But, with construction costs remaining high, more buyers are coming to terms with the reality that, if they buy something older, a slow, unaffordable renovation process might lie in wait. The result? Any complete development that hits the market is getting immediately snapped up.

Townhouses and luxury apartments are, predictably, still the hottest commodities – particularly for downsizers, who are represented strongly in the new-build buyer’s market. On the other hand, the relative shortage of new stock coming to market – and the unslakable thirst for it – means many firstand second-home buyers are being priced out of the market. For our part, we’re doing all we can to bring exciting newbuild property to the table.

Construction will begin on Olive Green – a collection of boutique two- and -three-bedroom apartments on Hawthorn Road – in the new year. (And sales are trickling steadily in.)

As for Seymour & Blanche – a series of spacious three- and four-bedroom townhouses in Elsternwick – it’s equally good news: a builder has been appointed, and construction is beginning. The even better news? We still have some gorgeous homes there up for grabs… although they won’t be for long!

We’re also thrilled to announce the launch, earlier this month, of Easton Place. Comprising 11 slick, spacious townhouses in Bentleigh East, these homes will offer style and spaciousness.

Realised expertly by Alumuna Developers, the townhouse’s recessed balconies and monochromatic tones make a

statement – while slotting straight into Bentleigh East’s leafy, streetscape aesthetic. On the inside, Easton Place’s beautiful materials – including natural stone benchwork, oak timber floors, brushed tapware, and plush carpet –speak to the highest levels of luxury and comfort.

Looking to the future, we can tease, for The Peer Review’s readers’ eyes alone, a couple of mouthwatering new developments. The first? Emily: eight three- to fourbedroom townhouses in Carnegie. The second? A set of spacious four- and five-bedroom homes at 30 Ontario Street in Caulfield North. Both are collections of bespoke, luxury apartments ideal for family living – in Melbourne’s most sought-after suburbs.

Be sure to look out for these beautiful new-build homes as we bring them to market across Melbourne’s southeast. Or get in touch with the New Projects team (even better: pop in to see us at our Balaclava Road office) for the inside scoop. To register your interest – and avoid missing out!

THE PEER REVIEW | 27 Q2 2023 EASTON PLACE Bentleigh
MAPLE
11 EMILY Carnegie
East Construction well underway
Caulfield North 2 apartments remain
Launching soon
We’re dedicated to helping you enjoy the highest standards of living – in bold, brand-new, luxurious residences.
To find out what’s available – and what’s coming up – head to the Gary Peer Projects tab on our website.

Melbourne’s Asian property market update

Melbourne’s Asian property market is growing.

Drawn by the southeast’s excellent schools, beautiful properties, and suburbs that blend the lively with the laidback, more Asian buyers are finding a new home in the corner of the Victorian capital we love.

Here at Gary Peer, we love helping Asian sellers achieve the best possible price for their home. And working closely with buyers from Asia as they purchase their dream Melbourne property.

In fact, the Asian market is a huge part of our business. And, as we head into the second half of 2023, we’re well-equipped to service this evolving, expanding, and exciting market. Below, co-founder and director Phillip Kingston joins agents Yan Dosen, Dizzy Wang and Kevin Huang to offer their insights into this opportunity-rich slice of Melbourne’s property market.

What are the biggest drawcards for Melbourne’s Asian buyers?

Which properties are most popular amongst buyers from Asia?

KEVIN:

Kevin: Buyers from Asia tend to prefer new-build properties. They’re rarely after a ‘fixer-upper’ – and would rather move straight into a modern, high-quality, turnkey home.

The hottest properties are usually freestanding, doublestory homes. Houses built with family living in mind.

DIZZY:

Dizzy: Asian buyers tend to prefer properties at the $2 million – plus – end of the market. And, in Caulfield, it’s not uncommon for them to pay $4 or 5 million for the right property.

What are your market predictions for the coming months?

DIZZY:

Dizzy: With China’s border having opened earlier this year, we’re already seeing more Chinese people coming to Australia. And many are set on high-quality homes. So we expect to be busy.

YAN:

Yan: The market volume over the next three to six months will likely increase significantly. More volume; more buyers!

PHILLIP:

Phillip: I couldn’t be more excited about how Australia is continuing to evolve as a country. How it’s maturing – and looking towards Asia with the identity of a country that is part of Asia.

I love that we’re becoming more and more enmeshed with our Asian neighbours: integrating Australia into Asia, and Asia into Australia. It’s something that only benefits all parties.

KEVIN:

Kevin: School zones remain the biggest pull for Asian home buyers.

Across the City of Glen Eira, four schools – Melbourne Grammar, Caulfield Grammar, Shelford Grammar and Wesley College – attract the most interest.

YAN:

Yan: Right now, around 30 to 50% of home buyers in the McKinnon school zone are of Asian descent – which speaks to how strongly the demographic demands well-placed homes.

Thinking of selling your home? Get in touch with your local Mandarin-speaking Gary Peer & Associates agent today to request an appraisal.

28 | THE PEER
STATE OF
REVIEW
PLAY

Gary Peer 致力于帮助亚洲卖家实现最佳的房产出售价 格。 同时,我们的业务也面向来自亚洲的潜在买家, 帮助他们在墨尔本购置理想的房产。

事实上,亚洲市场是我们公司的一大业务板块。 2023 年已过半,Gary Peer蓄势待发,将面向这个日益发展 壮大、机会良多的市场细分提供专业服务。随着 2023 年下半年的到来,我们已做好充分准备,为这个不断演 变且令人振奋的市场提供优质服务。

以下是联合创始人兼董事 Phillip Kingston 与经纪人 Yan Dosen、Dizzy Wang 和 Kevin Huang 对墨尔本房地产中 这一蓬勃向上细分市场的专业见解。

亚洲买家最看重墨尔本房产的哪些方面?

Kevin: 学区仍然是亚洲购房者最看重的因素。

Glen Eira 全市共有四所最热门学校(Melbourne Grammar、Caulfield Grammar、Shelford Grammar 和 Wesley College)。

Yan: 目前,McKinnon学区内约有30%至50%的购房者 是亚裔。这说明亚裔对好地段的住宅有着极高需求。

哪类房产最受亚洲买家欢迎?

Kevin: 亚洲买家倾向于选择新建物业,很少会选择“ 大修增值”的老旧房屋,而更倾向于设计现代、品质上 乘、可拎包入住类型的房产。

独栋双层住宅通常最为热门。 适合家庭生活的房产。

Dizzy: 亚洲买家倾向于选择200万澳元以上的房产。 在 Caulfield,亚洲买家以 400 万或 500 万澳元拿下中 意房产的情况屡见不鲜。

您如何看未来几个月的市场走势?

Dizzy: 随着今年年初中国解除边境管制,前往澳大利 亚的中国人人数有所上升。其中很多人希望购置高品质 的房产。所以,我们预计会迎来一个销售旺季。

Yan: 未来三到六个月的市场成交量会明显上升;买家 人数会也会相应增多!

Phillip: 我个人对澳大利亚全国的发展趋势非常看好。 经济形势日趋向好,并且以一个亚洲国家的姿态面向亚 洲市场。

我很高兴看到澳大利亚与亚洲邻国的关系越来越紧密: 澳大利亚与亚洲相互交融。这对各方都有利。

THE PEER REVIEW | 29
备受亚洲买家青睐的墨尔本房地产细分市场 墨尔本房地产市场中备受亚洲买家青 睐的细分市场目前呈现出增长态势。
越来越多的亚洲买家选择在墨尔本东 南区置业安家。这里有一流的学校、 精美的住宅和舒适的环境。
有意出售房产?
不妨即刻联络您当地的 Gary Peer & Associates
房产经纪(讲普通话)
KEVIN: YAN: DIZZY: KEVIN: DIZZY: YAN: PHILLIP:
做个房产估价吧。

How Ottimo Coffee champions good coffee and community

Here at Gary Peer, we roll up to our auctions with not only the best agents – but with the best coffee, too.

But have you ever wondered whose coffee you’re drinking? And why it tastes so darn good?

Introducing Ottimo Coffee: our wonderful coffee bean supplier and Cheltenham’s premier boutique coffee roaster.

Founded by husband-andwife team Larnce and Sarah Leigh in 2008, Ottimo champions the two things we love most: a strong community –and strong coffee!

We sat down for a latte with Larnce to learn what makes Ottimo so special.

30 | THE PEER
REVIEW

Carving a (caffeinated) niche

It’s no secret that Melburnians love to drink coffee. In a café, at home, at work – anywhere!

But in 2008, Larnce discovered a spanner in the works: coffee made at the office was ordinary.

‘People can always tell the difference between good coffee – and the other kind,’ says Larnce. ‘They know when their beans aren’t fresh, or when their equipment isn’t working as it should.’

So he set about revolutionising coffee in the workplace.

Alongside his wife Sarah, Larnce founded Ottimo Coffee: a one-stop-shop for businesses and venues vying to up their coffee game. Ottimo’s mission? Deliver café-quality coffee to workplaces – with consistency, reliability and honesty.

Today, Ottimo supplies freshly roasted coffee and equipment to workplaces, cafés, and businesses around Australia (including us!) – and runs a bustling espresso bar in Cheltenham.

Striding towards sustainability

A great cup of coffee begins at the source. Literally.

As a boutique roastery, Ottimo can shop for the finest raw coffee beans. That often takes Larnce and Sarah globetrotting: from Brazil to Indonesia – and beyond.

This transparency is integral to Larnce, who keeps ethical trade at the centre of his practice.

Ottimo’s coffee is sustainable, traceable, and fair-trade – and all comes in biodegradable and compostable packaging. And, as of May, Ottimo has opened a bulk-buy coffee

station. Meaning customers can fill up on any blend they like – without single-use packaging.

It’s all about keeping Ottimo’s footprint small, so customers can enjoy a stellar sip – guilt-free

Living – and giving – like a local

Ottimo strives to deliver more than just the best products. It provides training, servicing, and round-the-clock support too.

It’s all part of Larnce’s drive to give back to the community that has provided so much for him.

‘I grew up in Brighton, and my wife grew up in Malvern. Now, we live in Ormond – and our customers love that we’re just around the corner.

‘We’ve got such committed, dedicated, unbelievable humans in Melbourne.

‘I love working with them!’

And, with a rapidly growing client base – including the Kingston Community Centre, Cheltenham Panthers, East Sandringham Cricket Club, and Big Dog Cricket Company –it seems people love working with him, too.

Where to grab a cup of Ottimo coffee

Southeast locals can find an Ottimo brew at a plethora of local cafés – if it isn’t already at your office – and Ottimo is forming new café partnerships almost weekly. (Including a particularly sweet collaboration with Walker’s Doughnuts.) And – though it’s currently under wraps – we can reveal that there’s another Ottimo espresso bar in the works. But that’s all the beans Larnce can spill for now. So watch this space!

THE PEER REVIEW | 31
Head to one of the stellar cafés Ottimo supplies: • Ottimo Espresso Bar – 12 Mills Street, Cheltenham • Clancy’s Bakehouse – 278 Waverly Road, Malvern East • Common Room Co – 257 Alma Road, Caulfield North • Monet’s Grocer – 783 Centre Road, Bentleigh East • Mooks Café – 451 Hawthorn Road, Caulfield South Ready to savour the flavour of an Ottimo brew? Explore Ottimo’s website

AN INTERVIEW WITH CAULFIELD’S FAVOURITE FAMILY MAN

I look up from my latté as Darren Krongold walks in.

Stepping out of Alma Road’s bustle and into the organised chaos of Caulfield’s Common Room Co café, the Director arrives with a firm handshake –and a pleasantly piercing gaze.

Settling down across the table with his own latté, Darren smiles. With a shaved head and a fine film of stubble covering his face, it’s easy to see why Darren, at first glance, could be considered ‘hard’.

But as our conversation unfolds, the reality couldn’t be further from the truth. An avid surfer, committed family man and self-confessed real estate addict, Darren takes a sip. Then talks me through his upbringing, life and career to date.

32 | THE PEER REVIEW THE SOFTER SIDE OF DARREN KRONGOLD:

Testing the waters: steel, building, stables and surfing

‘All I wanted to do when I was younger was surf. Head up to Queensland, sit on a beach. And surf!’

They’re interesting words for a man on the cusp of his 36th year in real estate. But as it turns out, Toorak-born Darren weighed up several other options before settling on his chosen profession.

Always more ‘get stuck in’ than ‘get studying’, Darren left school early. But after dabbling in an accounting course at Swinburne, he soon swapped book-balancing for building.

It is, after all, in his blood. Darren’s twin brother Wayne, and their father Lionel, head up the family’s construction business: Krongold Constructions.

‘My father instilled a lot of strong values in us to work,’ Darren explains, crediting his iron-clad work ethic to his teenage years. Even as 15-year-olds, Darren and Wayne regularly traded in entertainment for exertion: labouring in the factory of the family-owned steel company, KH Stramit. When 1988 rolled around, Darren – now a fresh-faced 19-yearold – was ready for a change. Seduced by real estate ads in the local newspaper, he decided to give selling houses a shot.

But it didn’t quite click. And after four and a half years learning the real estate ropes in property management – first in commercial, then in residential – Darren needed a change. From the company. Not the industry.

Darren’s career break took him back, for a few months, to the surf and sand of Queensland. Then into the arms of the family business: not in metal, this time, but in mares. (Another business the Krongold family was involved in; Lionel loves horses.)

Because in the early 90s, the Krongold clan bred racehorses – operating a farm in Whittlesea which, at one point, served 120 mares: for racing, breeding or selling.

Soon, however, the time came to trade in horses for houses. A call to Sally Zelman – Darren’s close friend and confidante – scored him an interview with the owner of a small local real estate agency.

A confident, charismatic chap called Gary.

Learning the ropes: riding the waves of real estate

Darren started at Gary Peer & Associates in January 1993.

‘Teach me the ropes,’ Darren says, recalling his promise to his then-new employer, “and I’ll make you a lot of money. Because I have a lot of connections and friends.

‘I think that’s the key to real estate: having plenty of mates! Plus, I had a lot of time and energy to give. I was 23, and single – I didn’t get married until I was 30. So I spent a lot of years in-between growing and dedicating my life to real estate.’

He didn’t quit his unquenchable thirst for surfing, of course – simply channelled it in a new direction.

THE PEER REVIEW | 33

‘I grew up idolising the sport’s top Australian competitors: Mick Fanning, Mark Occhilupo, Joel Parkinson. These guys follow their passion and do they best they can. They’re dedicated to what they do, and they perform at the highest level – all while mentoring the younger generations.

‘As my own role and career progressed, I took a lot of inspiration from that.’

Darren’s own passion for the profession – mixed with the Gary Peer brand’s already upward trajectory – made for a heady cocktail. The business took off; Darren thrived.

‘Real estate is like a drug,’ the man in front of me grins, ‘and I have an addictive personality.

‘Once you get a taste of success – of pleasing people; of the phone ringing with a buyer on the other end – it excites you. I couldn’t see myself doing anything else. Or working anywhere else.’

When Darren joined Sally: a partnership prospers

With his trademark transparency and uniquely ‘no bullshit’ approach, Darren quickly made a name for himself.

‘I’m not a person who hides behind a problem. I just tell you how it is. There’s a lot of agents out there who are afraid to tell the truth. But people are only going to believe in you if you’re upfront.’

It’s a skill that set Darren up to work well with his clients and his colleagues – particularly Sally, his long-term mate and mentor. Yet the pair’s similarly top-end niches and overlapping territory set them just as much up for conflict as camaraderie.

So in 2003, spurred on by Gary Peer co-founder and Director Phillip Kingston, Darren and Sally joined forces. Together, they set up what Darren describes as “a business within a business” within Gary Peer’s Caulfield North office.

Their partnership stretches back almost two decades. Their friendship over three.

Unsurprisingly, it worked.

Two new Partners emerge: excellence without ego

Two and a half years ago, Joel Ser, a Licensed Estate Agent at Gary Peer for over 17 years and his team merged with Darren’s.

In real estate since he was 20, Joel’s highlights include representing a couple on “The Block” for Channel 9. Being recognised in the AREA’s top 100 agents in Victoria in 2021. And, in April 2023, becoming a Partner of the business he’s been part of for close to two decades.

‘Joel has added a new dimension to our team,’ says Darren. ‘And, with him, that team has continued to grow.’

2023 has seen another new face added to the Darren-Joel partnership. Daniel Fisher – who, like Joel, became one of Gary Peer’s inaugural partners in April – joins Darren and Joel in overseeing their team.

Of course, the best sales teams need the best support. And thankfully, Darren, Joel and Daniel have two of the best doing so. Aliza Szylit and Mariam David, Executive Assistants, support the three partners in every aspect of their work.

Darren is equally quick to acknowledge the ongoing friendship, partnership and mentorship of Phillip – his longterm colleague and confidant – who’s been an invaluable source of leadership and learning.

Now co-leading a thriving team of seven, Darren’s selfless approach (and softer side) is helping him mentor the next generation.

Between Idan Gutman, Isabella Bracka, Rheno Pabillore, Kevin Huang, and more, you’ll find many of Melbourne’s finest real estate agents under Darren and his partners’ wings.

What you won’t find? Ego.

‘I tell my team to put people first, and yourself second. Many agents make it about themselves, make it personal – ‘what about me? How does that affect me?’ – well, it shouldn’t affect you. You’re the middleperson.

‘Egoistic people don’t work with me. And vice versa!’

34 | THE PEER REVIEW THE SOFTER SIDE OF DARREN KRONGOLD

A system, not a secret: the recipe for real estate success

Over $400 million in property sales, as a team, across 2022. Three and a half decades – and a directorship – at one of Melbourne’s leading independent real estate agencies.

A sale of over $10 million in Q2 2022. And, in the following quarter, the sale of Caulfield’s most expensive home – for a price in the vicinity of a staggering $20 million.

I have to ask. What’s the secret, Darren? Is there one?

‘What my career has taught me is that the secret to success isn’t actually a secret at all – it’s a process. You have to have a system. It’s not only building a network and a database, but working with that database; communicating with those clients in a close, personal way.

‘So many people just text now, but I’m very old-fashioned. I pick up the phone and talk to them!’

As Darren speaks, it becomes clear his view of success isn’t as some vague, intangible goal perched far off on the horizon. It’s not something to be attained, but practised. To be worked at – every day.

‘The longer you’re in real estate, with the one company – as long as the community can see you growing, see you slapping those ‘SOLD’ stickers on the board – you’re succeeding.’

Because, Darren explains, clients don’t only buy homes. They buy into you.

‘If you put your heart and soul into it, people will see you’re serious about selling. They’ll hear about it from others; they’ll try you out and recommend you to their friends. That’s where it comes from. If you’re systemised to do all that, it comes together eventually.’

Listen, learn and love: Darren’s formula for a functioning family

Asked what key qualities a person needs to excel in real estate, Darren doesn’t hesitate.

‘Be a good listener,’ he begins, ticking them off on his fingers. ‘Learn not to talk too much. Become a strong

negotiator. And have the courage to break through your comfort zone.’

Funnily enough, these are the same attributes that’ve helped Darren thrive as a family man. As a devoted husband to Hayley, and a proud father of three daughters: twins Rikki and Britney (21), and Hope (15).

One look at the twins’ CVs, and it’s clear they’ve inherited their fair share of their dad’s (and grandad’s) work ethic. His love of a latté, too!

Rikki Krongold is Head of Hospitality here at Gary Peer, and – alongside studying communications – leads the coffee van team on its weekend rounds. Britney is studying law, while also providing admin support to Gary Peer’s Caulfield Northbased office.

Darren and I talk for a little longer about his top sales; his reputation; his fruitful 30-year (and counting!) Gary Peer tenure. But it’s clear there’s one achievement that stands head and shoulders about the rest: his family.

‘I have four women in my family,’ Darren chuckles. ‘Five, if you count the dog! My life revolves around these ladies; I live for them. I was a ‘hard’ man in my youth. They’ve softened me up!’

These five, after all, are the softer side of Darren Krongold. His best side!

THE PEER REVIEW | 35
Want to delve deeper into the stories of our team, clients – and the homes we’re selling for them? Head to The Peer Blog for more.
AN INTERVIEW WITH CAULFIELD’S FAVOURITE FAMILY MAN

Your guide to good feng shui

When you come home after a long day, do you feel energised? Positive? Stress-free?

If your answers are ‘no’,‘no’ and ‘no’ – we get it.

But what if we told you, with a few small changes, you can turn your space into an oasis? A place that brings calm to the chaos – and where your mind, body and spirit can feel at home?

There’s a reason long-standing traditions like feng shui have stood the test of time. And with these dos and don’ts of proper feng shui, we’re letting you in on the secret.

36 | THE PEER REVIEW
HOW TO BRING HARMONY TO YOUR HOME:

What does feng shui even mean?

Before you start rearranging any furniture, let’s unpack what feng shui actually is.

When we talk about feng shui, we talk about:

• Chi: Positive energy.

• Sha: Negative energy.

• Yin and yang: Opposite, yet interconnected, forces – that are both necessary.

• The five elements: Wood, fire, earth, metal and water.

An amalgamation of ancient Chinese philosophy, medicine, mystic beliefs, and psychology, the words ‘feng’ and ‘shui’ translate to ‘wind’ and ‘water’ respectively.

The wind is our breath; the water is just us (humans are 60% water, after all!)

And sure – you can survive living in a space with poor feng shui. But in the long term, good feng shui is just as vital for your wellbeing as its translation is.

What’s the point of feng shui?

The goal of feng shui is to understand how chi, sha, yin, yang, and the five elements work together. And how we can use them to create harmony in our homes.

Like using yin, in the bedroom, to promote relaxation. But yang, in the kitchen, to encourage socialisation.

It’s all about balancing the interior and exterior of your home – which, in turn, balances the forces of the universe in your space.

Simple, really!

The five elements of feng shui

Wood, fire, earth, metal and water. We mentioned them earlier, but how can each of these elements actually contribute to good feng shui?

The answer is the three Bs: balance, balance, balance! Each element has its own, bespoke purpose – and promotes its own outcomes.

For example, you’d use:

• Wood for kindness and vitality.

• Fire for passion and creativity.

• Earth for health and stability.

• Metal for clarity and precision.

• Water for good fortune and abundance.

The best part? You don’t even need to employ the element itself

Want to incorporate fire? Use bright colours. Keen to introduce water? Bring smooth, flowing elements into your home, instead.

THE PEER REVIEW | 37

The feng shui energy map

Okay – you know what feng shui is, its goal, and the five elements it’s made up of.

Now, if only there was a map that showed you how you could incorporate it into your own home. Oh wait – there is! It’s called the bagua, and it’s one of the most important tools in implementing good feng shui.

The bagua shows how, through introducing colour, sculptures or other elements into parts of your home, you can achieve a desired effect. Be it prosperity, creativity, or personal growth:

WEALTH AND PROSPERITY

Element: Wood

Colour: Purple, blue, red

FAMILY

Element: Wood

Colour: Green

KNOWLEDGE AND PERSONAL GROWTH

Element: Earth

Colour: Blue, green, black

BACK OF HOUSE

FAME AND REPUTATION

Element: Fire

Colour: Red

HEALTH

Element: Earth

Colour: Yellow, orange

CAREER

Element: Water

Colour: Black

FRONT OF HOUSE

RELATIONSHIPS

Element: Earth

Colour: Pink, red, white

CHILDREN AND CREATIVITY

Element: Metal

Colour: White

TRAVEL AND HELPFUL PEOPLE

Element: Metal

Colour: White, grey, black

So, if you’re interested in taking a trip sometime soon, try placing a metal element in the front right sector of your home. You never know!

38 | THE PEER REVIEW
HOW TO BRING HARMONY TO YOUR HOME
Entrance Entrance Front Middle Back Front Middle Back Left Middle Right
Entrance

The don’ts of feng shui

When you’re working with the forces of the universe, it’s important not to take too many liberties. So, if you want to create good feng shui in your home, make sure you do not:

• Block any doors: If not through the doors, how else can chi step inside?

• Leave out broken (or dead) objects: That pot plant that sheds more leaves than it spouts? Bin it!

• Let your windows get too dirty: In feng shui, windows represent the eyes of the home’s inhabitants. So clean your windows to ensure you’re seeing the world clearly.

• Overstuff your wardrobe: A full closet is like a sign telling the universe, ‘I’m at capacity – don’t send any opportunities my way, please!’

• Store things under your bed: In feng shui, you want air flowing all around you while you sleep. And that box of old dress-ups may get in its way!

The dos of feng shui

It’s all well and good to know what not to do – but there’s plenty more to promoting proper feng shui than simply doing the opposite of the above.

So, if you want to create peaceful and positive energy in your home, make sure you:

• Learn the ‘command’ position: Place your furniture (especially your bed, couch, desk and stove) diagonally opposite your door. This way, you can always see what’s coming and going – putting you in a position of power.

• Become a green thumb: Plants bring – and embody –life energy. Especially green ones.

• Slow the flow of energy: You don’t want your chi to walk out as soon as it walks in. So bring in some rugs, artworks, or plants, to add some organic obstacles.

• Clear out the clutter: There’s a difference between slowing the energetic flow, and overcrowding your space. So make sure there’s enough room for your body, mind and energy to wander freely – without getting distracted by that pile of paper on the table.

• Say thank you: In feng shui, everything is alive –including your home! So be sure to offer it your gratitude for sheltering you.

And while you’re at it, thank yourself for committing to creating a chi-friendly home.

Are you ready to focus on feng shui in your home, but need help nailing down a design?

Check out the latest home and architectural trends on The Peer Blog for some inspo. And stay tuned –there’s a new article to look forward to every week!

THE PEER REVIEW | 39
YOUR GUIDE TO GOOD FENG SHUI

What’s been happening at Gary Peer?

Bringing the whole team together for a night to remember

Every month, we bring every team member, from every office, together. That’s over 130 people, from seven Gary Peer sites, in the same room, for an evening of laughter and light-hearted conversation. For some delicious food, a splash to drink, and – when it’s time for the evening’s awards – a little friendly competition, too!

We honour the salesperson, property manager, and team member of the month (to name a few) and recap the last 30 days from a company-wide perspective.

While our most recent Team Nights were held at Levi in Murrumbeena, we usually keep the location (like the food) fresh. In fact, we’ve held Team Nights at a smorgasbord of local restaurants and cafes, including Copycat in Elsternwick.

‘We’ve been doing Team Nights for many, many years now,’ one team member explains. ‘It’s a way of bringing the entire team together –which, as a company grows, can be increasingly hard to do.

‘It’s great to catch up with people who, although you may email, you don’t get to speak to on a regular basis. It’s lovely to be recognised for hard work, too!’

40 | THE PEER REVIEW

Shucking off the winter blues for a night at the movies

In the midwinter chill, there’s nothing better than hunkering down with a plate of snacks, in front of the latest movies – on the biggest screens.

So at least once a year, the Gary Peer Social Club gets the team together for an evening at the flicks – assembling at Elsternwick’s Classic Cinema for Movie Night.

In July, our Social Club members –and their partners – came together for drinks and canapés at Copycat. Followed by an exclusive screening of Indiana Jones and the Dial of Destiny Brand-new film. Comfortable seats. Good company. And unlimited

THE PEER REVIEW | 41
Ready to see your career soar? Come join us! Browse our open positions (or express your interest) at GaryPeer.com.au.

Our people

Gary Peer Daniel Micmacher Jo Meldrum Phillip Kingston Aviv Samuel Amanda Basile Jeremy Rosens Marc Wynn Leor Samuel Daniel Fisher Clare Cruickshank Darren Krongold Joel Ser Maureen Maserow Graeme Callen Kristy Heyneker Lucy Morley Stephanie McNeil Tammy Nadelman Aliza Szylit Dan Dyason Mariam David Stephanie Karasavidis Michy Rosens Kylie Malmstrom Cristina Trapler Jessica Alvarez Helen Potter Martina Ticha Ben Ajzner Lisa Alberts Jacob Kingston
THE PEER REVIEW | 43
David Thomson Glenn Bricker Rafi Joffe Jack Slater Tori Carpentier Limor Herskovitz Mark Kirkham Nikki Janover Yan Wu-Dosen Charlotte Hellier Benjamin Rothschild Daniel Peer Amanda Hocking Simon Radolnik John Tsui-Po Oliver Quinn Matthew Morley Kevin Huang Rheno Pabillore Jacqueline Sher Raquel Usher Kellie Finlayson Angela Skarlatos Jamie-Lee Fox Stefania Tartiris Indy Uthpala Robinson Corral Idan Gutman Vanessa McGlynn

17B Robe Street is many things. An Edwardian estate. A St Kilda staple. And, for the last 14 years, the place renowned footwear giant Alias Mae’s founder, Tom Kirkhope, called home.

As the property’s auction approached, we caught up with Tom for a walk down memory lane.

Read more on ThePeerBlog

Carnegie 03 9563 1666 Caulfield 03 9526 1999 Murrumbeena 03 9569 0718 St Kilda 03 9066 4688 New Projects 03 8578 6633 Property Management 03 9526 1988 Bentleigh 03 8842 6800
GaryPeer.com.au
Walk a mile in Tom Kirkhope’s Alias Mae shoes
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