Bourkes Manning Market Update - Autumn 2020

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AUTUMN 2020

experience better

MANNING

MARKET UPDATE

In this issue Market Facts | Finance Update | What’s Sold What’s Selling | Words of Wisdom


WELCOME MARCH QTR With everyone left distancing and staying at home one would assume that sales would have slowed considerably.

Buyers are still out buying – using virtual tours, 3D tours, Facetime and WhatsApp showings then requesting a private viewing.

Not the case.

This will probably change the way properties are searched and viewed forever.

REIWA reported on 31 March that weekly sales were 603 down from 690 the week before and up from 469 the year before. We expect sales to reduce as isolation kicks in. After the hibernation we will return to another new normal-whatever that looks like. We just know that now is a sensational time for buying. For those with job stability jump in now!

On another topic, there’s nothing more comforting in these times of isolation as your own home. To have loved ones under your own roof and out of harms way is very comforting.

of security & well being that comes with owning your own home. Stay safe. As always, if you are thinking of buying or selling or would like a current market appraisal, please call me on 0405 709 763.

Kathryn Perin Sales Executive

Bob Menzies talked of housing as ‘MetaPhysical’- not just the physical nature of the house but the feeling

MARKET FACTS (MAR QTR 2020) VOLUME OF SALES By Type HOUSES

11

LAND

3

UNIT

0

12

14

FOR SALE

GONE

LAND SALES

HOUSE SALES Highest Sale

$900,000

Highest Sale

$590,000

Lowest Sale

$544,000

Lowest Sale

$511,000

(Source RP Data as at 08/04/2020)

FINANCE UPDATE BY GLEN AUSTEN - DIRECTOR - TAG FINANCIAL GROUP . ost of us have heard enough of the “unprecedented times” that we are in, so let’s look at the positives of the financial M sector and what is going on in the big wide world that we are not allowed to physically explore anymore. The Government is helping those with mortgages to maintain them by offering various stimulus options. The banks are helping by pausing (not waiving) repayments for 3 to 6 months, dropping rates, and offering loans to SME’s to help them maintain their businesses. Most importantly though, the banks are still open for business and lending money. Yes they are being a bit more cautious and ensuring that they lend to those they feel are of less risk, but they are still lending money, and lots of loan applications are still being submitted and getting approved. The world hasn’t stopped. It’s just got a really bad cold and we are all working together to shake it. In the process the savvy buyers and sellers are using this opportunity to their advantage!


SOLD & SELLING (MAR 2020 QTR)

Gone

Burnett Road MANNING $900,000

Gone

4x2x2

Gone

Henley Street MANNING $802,000

4x2x2

Marsh Avenue MANNING $550,000

3x2x2

3x1

Henning Crescent MANNING $629,000 3x2x2

Bruning Road MANNING Mid to High $500,000’s

3x2x2

3x2

Bruning Road MANNING $511,000 Land

Selling

3x1

Selling

Selling

Pether Road MANNING $738,000

Gone

Selling

Bradshaw Crescent MANNING Offers Over $1M 4x2x2

Griffin Crescent MANNING $590,000 Land

Gone

Gone

Selling

Griffin Crescent MANNING From $899,000

Canavan Crescent MANNING $572,500 3x1x1

Gone

Gone

Isabella Crescent MANNING $800,000

Gone

Conochie Crescent MANNING From $459,000 3 x 1 x21

* DISCLAIMER - Not all of the above GONE properties have been sold or listed by Bourkes

Downey Drive MANNING $549,000

3x1x1

Selling

Conochie Crescent MANNING $825,000 4x2x2