Bourkes Rivervale Market Update - Autumn 2020

AUTUMN 2020

experience better

RIVERVALE

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.

that comes with owning your own home.

Not the case.

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

As always, if you are thinking of buying or selling or would like a current market appraisal, please call me on 0413 310 330.

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.

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

Stay safe.

Steven Webster SALES EXECUTIVE

MARKET FACTS (MAR 2020 QTR) VOLUME OF SALES

By Type HOUSE

35

LAND

3

UNIT

11

135

49

FOR SALE

GONE

UNIT SALES

HOUSE SALES Highest Sale

$1,125,000

Highest Sale

$485,000

Lowest Sale

$345,000

Lowest Sale

$172,000

(Source RP DATA as at 09/04/2020)

FINANCE UPDATE BY GLEN AUSTEN - DIRECTOR - TAG FINANCIAL GROUP Most of us have heard enough of the “unprecedented times” that we are in, so let’s look at the positives of the financial 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

Gone

1/1 Trelion Place RIVERVALE $625,000

3x2x2

Gone

40 Armadale Road RIVERVALE $880,000 5x2x2

Selling

1/33 Mozart Mews RIVERVALE $300,000’s 2x2x1

Selling

3/28 Wicca Street RIVERVALE $500,000’s 3x2x2

Selling

90 Acton Avenue RIVERVALE $600,000’s 5x2x2

1/34 Toorak Road RIVERVALE $400,000

Gone

3x1x1

Gone

Gone

44 Toorak Road RIVERVALE $318,000 Land

Selling

2/1 Trelion Place RIVERVALE $600,000’s

48 Fransisco Street RIVERVALE $618,000 3x2x2

Selling

3x2x2

3/5 Hawksburn Road RIVERVALE $500,000’s 3x2x1

Selling

Selling

76 Toorak Road RIVERVALE $800,000’s

169 Kooyong Road RIVERVALE $365,000 3x1x1

4x2x2

Selling

164 St Kilda Road RIVERVALE $400,000’s Land

78 Norwood Road RIVERVALE $600,000’s 4x3x2

Selling

201 Surrey Road RIVERVALE $400,000’s Land

“Principled and Professional!

A quick successful sale!

Steve sold our place in 3 days, which was a huge relief for us.

Thorough in his knowledge and accountability.

Thanks, Steve H Dillon

It was a positive experience dealing with Steven. He was straight to the point, didn’t mess me around and he knew the local market backwards. He explained everything clearly to me and didn’t make commitments that he couldn’t honour. His help in resolving issues that were outside the boundaries of the sales contract was greatly appreciated.”

W Martini

“Great Agent I found Steven to be a very professional, helpful and knowledgeable agent. He has a good understanding of the market and kept us fully informed every step of the way. Steve is easy to deal with, always contactable and he made the process of selling stress free. I have no hesitation in recommending him.”

J Byers

IF YOU ARE CONSIDERING A MOVE SOON OR WOULD LIKE TO KNOW WHAT YOUR PROPERTY IS WORTH IN TODAY’S MARKET, FEEL FREE TO CALL ME RIGHT NOW. Steven Webster SALES EXECUTIVE / LICENCED AGENT

0413 310 330 steven@bourkes.com.au If you’d prefer to receive this report by email, please email me your details.

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