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AUTUMN / 2020

02

10

12

Melbourne’s North-west Starting the Decade on a High

There’s No One-Size-Fits-All in the Property Investing Game

The First Home Buyers Deposit Scheme Kicks In

bradteal.com.au

PropTalk

QUARTERLY PROPERTY INSIGHT


in this issue

01 /

welcome

02 /

melbourne’s north-west starting the decade on a high

04 /

how your suburb performed

06 /

investor’s market tipped for 2020

08 /

rental yield and performance

10 /

there’s no one-size-fits-all in the property investing game

12 /

the first home buyers deposit scheme kicks in

14 /

homes in the sky in Melbourne’s north-west

16 /

unreal estate results

PropTalk / Autumn ‘20


WELCOME

Faster. Higher. Stronger. This is the theme our team at Brad Teal Real Estate has adopted for 2020, coinciding with the year of the 32nd Olympiad. And what a start to the year we have had! In February, we held our Annual Kickstart Day, a feature event on our calendar, which brings the entire team across all departments and offices together for a day of reflection, inspiration, vision and fun. In the spirit of the Olympics, we had the privilege of hearing from two truly extraordinary Australian sportswomen, who had the room captivated by their stories of ambition and achievement, and the power of overcoming adversity.

Kerri Pottharst, Olympic Champion | Brad Teal, Director | Jacqui Cooper, World Champion

We heard about the importance of effort, disciplined process and laser-sharp focus on a goal. We learnt how champions have a willingness to do more than everyone else and how the champion mindset must hold strong when you’re winning and even when you’re not. This is what sets elite performers apart from the rest. These messages had timely resonance with our team, which pride themselves on going the extra mile for our clients – both day to day and in important life moments. So with this inspiration, we enter 2020 thinking anything is possible. Data from the REIV December '19 Quarterly Report has confirmed the return of a buoyant property market, marking the first time that metropolitan house values have surpassed $850,000. The news is good for investors and sellers alike, particularly with increased competition for limited stock.

PropTalk / Autumn ‘20

Despite this market ascendancy, our optimism has been tempered by the tough times our fellow Australians have been having over the summer, with relentless bushfires and inclement weather patterns. As a team, we have collectively rallied to support affected communities and organisations through a range of initiatives, and whilst we always strive for excellence in everything we do, it is the demonstrated spirit of community, generosity and selflessness of which I am most proud. If you’d like to chat more about all things community and property, don’t hesitate to get in contact with me or any member of our team.

BRAD TEAL Founder & Director Brad Teal Real Estate

P1


Melbourne’s north-west starting the decade

on a high

Sellers will be in the box seat as low stock levels and rising buyer confidence kick start the north-west’s property market in 2020.

The City of Maribyrnong had a 78.9 per cent clearance rate, selling 15 of the 19 properties that went under the hammer the same weekend.

The shortage of homes that dogged the market last year is expected to continue and generate some strong results for vendors.

Both municipalities started the 2020 year off with consistent results. Moonee Valley producing a clearance rate of 84.2 per cent, with 16 sales from the 19 auctions and the City of Maribyrnong cleared 88.9 per cent, selling eight of the nine properties that went under the hammer on February 15.

“I’m feeling optimistic for the new year. The market will continue steadily with vendors seeing some great results.” says Brad Teal Head of Sales Bruce Warburton. Mr Warburton believes the market will pick up where it left off in 2019, when the clear election outcome, the end of banking royal commission and continued low interest rates combined to buoy buyer confidence. Mr Warburton says auctions were running hot by the end of 2019, with the Brad Teal network scoring a sale almost every time it took a home under the hammer. Realestate.com.au data shows Moonee Valley produced a clearance rate of 80.9 per cent, with a healthy 38 sales from the 47 auctions held across the municipality on December 14, the last big auction weekend of the year.

Clearance rates are expected to continue to remain high, with no sign of a significant increase in new listings. Inner city suburbs – including Brunswick, Pascoe Vale, Coburg, Strathmore, Moonee Ponds and Niddrie – are tipped to see more competition from buyers this year. And Sunbury is predicted to continue to build on the solid price growth it recorded last year. The latest realestate. com.au data shows the suburb’s median house price jumped 10.6 per cent to $540,000 in the last three months of 2019. The data shows Craigieburn was the region’s sales hotspot in 2019, notching 877 house sales and defying the stock shortage. In 2018 it had 825 house sales, according to CoreLogic. However, Sunbury, the next busiest 2019 sales hotspot, was significantly down on the previous year. It recorded 557 house sales last year, compared to 622 in 2018, a 12.5 per cent reduction.

P2

PropTalk / Autumn ‘20

Closer to the city, Brunswick saw 198 house sales and 193 units sales last year, compared to 240 and 252 sales respectively the year before. And Coburg’s sales tally dropped to 204 houses, down from 278, and 117 units, down from 134. The impact of the stock shortage on prices was evident late last year. Moonee Ponds topped the region for price growth in the December quarter. After a significant slump early in the year, its median unit price rebounded with a 33 per cent jump in the final three months to settle at 1.5 per cent annual growth. In Pascoe Vale South, the median house price shot up 26.7 per cent in the last three months of 2019, offsetting an annual fall of 2.1 per cent. Realestate.com.au chief economist Nerida Conisbee recently told the Herald Sun Melbourne’s middle and outer ring suburbs could expect strong returns at the start of the decade.

“There are low interest rates so getting finance is a lot cheaper, which is good for buyers and creating a lot of demand,” Ms Conisbee said. “It is putting vendors in a good position because there is not much stock available.”


“I’m feeling optimistic for the new year, the market will continue steadily with vendors seeing some great results.” BRUCE WARBURTON Head of Sales Brad Teal Real Estate

KEY ECONOMIC INDICATORS

Cash Rate

1.8% (ABS)

Rate

0.75%

5.2%

Wage Growth

Economic Growth

(RBA)

Inflation

Unemployment

2.2% (ABS)

(ABS)

1.7% (ABS)

Data current as at February 2020.

PropTalk / Autumn ‘20

P3


property sales: how your suburb performed HOUSE

UNIT

NO. SOLD (12 MTHS*)

MEDIAN SALE PRICE (12 MTHS*)

CHANGE IN MEDIAN PRICE (12 MTHS*)

MEDIAN SALE PRICE (2018)

NO. SOLD (12 MTHS*)

MEDIAN SALE PRICE (12 MTHS*)

CHANGE IN MEDIAN PRICE (12 MTHS*)

MEDIAN SALE PRICE (2018)

Aberfeldie

27

$1,475,000

0.0%

$1,475,000

14

$967,500

26.4%

$765,500

Airport West

91

$790,000

-6.5%

$845,000

45

$590,000

-2.6%

$605,500

Ascot Vale

136

$1,084,250

-3.6%

$1,125,000

84

$507,500

-5.1%

$535,000

Avondale Heights

128

$809,000

-1.3%

$820,000

23

$612,000

22.4%

$500,000

Brunswick

198

$1,038,750

-3.8%

$1,080,000

193

$535,000

5.9%

$505,000

Brunswick East

80

$991,000

-13.1%

$1,140,000

169

$510,000

-5.3%

$538,750

Brunswick West

76

$1,100,000

-4.3%

$1,150,000

136

$475,000

-3.0%

$489,750

Caroline Springs

249

$626,200

1.5%

$616,750

25

$470,000

1.6%

$462,500

Coburg

204

$925,000

-3.6%

$960,000

121

$495,000

-9.5%

$547,000

Coburg North

88

$793,250

0.7%

$787,500

36

$542,500

-14%

$630,750

Craigieburn

877

$527,500

-3.9%

$549,000

56

$379,450

-2.5%

$389,000

Deer Park

188

$553,500

-3.7%

$575,000

31

$460,000

1.7%

$452,500

Delahey

63

$530,000

-7%

$570,000

12

$392,500

°

°

Derrimut

86

$647,000

5.2%

$615,000

°

°

°

°

Diggers Rest

50

$525,000

5%

$500,000

°

°

°

°

Epping

290

$556,250

-7.3%

$600,000

64

$395,000

2.1%

$387,000

Essendon

160

$1,410,000

-7.2%

$1,520,000

182

$520,000

5.4%

$493,500

Essendon North

19

$1,100,000

3.8%

$1,060,000

32

$417,500

3.1%

$405,000

Essendon West

17

$1,140,000

-5.8%

$1,210,000

°

°

°

°

Fawkner

122

$668,750

-5.6%

$708,750

41

$452,000

-11.4%

$510,000

Flemington

55

$1,019,500

10.8%

$920,000

43

$403,000

-9.6%

$445,750

Footscray

115

$801,000

-7.6%

$866,500

188

$407,250

-2.3%

$417,000

Gisborne

117

$790,000

0.6%

$785,000

22

$505,000

-1.0%

$510,000

Glenroy

217

$680,000

-6.1%

$723,867

211

$505,000

-3.7%

$524,391

Gowanbrae

33

$685,000

-3.7%

$711,250

°

°

°

°

Hadfield

79

$726,000

1.2%

$717,500

30

$476,000

-17.9%

$579,500

Hillside

154

$640,750

-1.4%

$650,000

22

$447,500

-9.6%

$495,000

Kealba

18

$588,000

-4.4%

$615,000

10

$483,250

-12.1%

$550,000

Keilor

60

$836,250

4.9%

$797,300

33

$629,000

-2.1%

$642,500

SUBURB

P4

PropTalk / Autumn ‘20


* HomeTrack/realestate.com.au data for the 12 months to January 2020 ° Due to limited sales transactions, data is not available HOUSE

UNIT

NO. SOLD (12 MTHS*)

MEDIAN SALE PRICE (12 MTHS*)

CHANGE IN MEDIAN PRICE (12 MTHS*)

MEDIAN SALE PRICE (2018)

NO. SOLD (12 MTHS*)

MEDIAN SALE PRICE (12 MTHS*)

CHANGE IN MEDIAN PRICE (12 MTHS*)

MEDIAN SALE PRICE (2018)

Keilor Downs

68

$630,000

-5.1%

$663,750

°

°

°

°

Keilor East

181

$830,000

-0.6%

$835,000

°

°

°

°

Keilor Park

17

$715,000

-7.1%

$770,000

°

°

°

°

Kensington

110

$970,000

-4.1%

$1,011,500

81

$470,000

-6.3%

$501,500

Kurunjang

154

$424,500

-3.5%

$440,000

°

°

°

°

Kyneton

100

$600,000

6.3%

$564,500

13

$480,000

20%

$400,000

Macedon

21

$940,000

17.5%

$800,000

°

°

°

°

Maidstone

75

$745,000

-6.5%

$797,000

99

$557,500

3.7%

$537,500

Maribyrnong

91

$945,600

-5.0%

$995,000

130

$510,000

7.4%

$475,000

Melton

130

$385,000

-6.7%

$412,500

50

$312,500

-1.1%

$316,000

Melton South

258

$420,000

-0.4%

$421,500

45

$295,000

-7.4%

$318,500

Melton West

361

$460,000

-3.2%

$475,000

32

$350,000

-4.1%

$365,000

Moonee Ponds

141

$1,167,000

-6.6%

$1,250,000

115

$487,000

2.0%

$477,500

Mount Macedon

17

$940,000

7.7%

$873,000

°

°

°

°

New Gisborne

31

$750,000

-8.5%

$820,000

°

°

°

°

Niddrie

66

$1,050,000

0.0%

$1,050,000

32

$650,000

1.8%

$638,750

Oak Park

47

$840,000

-0.9%

$847,500

64

$637,500

3.7%

$615,000

Pascoe Vale

152

$850,250

-1.7%

$865,000

198

$602,500

-3.2%

$622,500

Pascoe Vale South

93

$920,000

-3.2%

$950,500

21

$600,000

-8.4%

$655,000

Riddells Creek

42

$777,500

11.1%

$700,000

°

°

°

°

Romsey

66

$590,000

3.5%

$570,000

10

$417,500

°

°

St Albans

274

$589,000

-4.3%

$615,500

114

$436,000

-0.9%

$440,000

Strathmore

106

$1,327,500

-1.9%

$1,353,750

26

$683,500

-6.4%

$730,000

Sunbury

557

$540,000

-1.8%

$550,000

48

$395,000

-4.8%

$415,000

Sydenham

77

$595,000

-1.5%

$604,000

47

$430,000

0.0%

$430,000

Taylors Hill

129

$700,000

-2.9%

$721,000

°

°

°

°

Tullamarine

55

$611,500

-7.3%

$660,000

54

$469,000

-2.0%

$478,750

Woodend

82

$815,000

13.8%

$716,250

14

$522,500

3.5%

$505,000

SUBURB

PropTalk / Autumn ‘20

P5


investor’s market

tipped for 2020 Rising rents and falling vacancy rates will reward property investors who take the plunge in the north-west in 2020. These conditions, along with easier access to finance under new lending standards implemented by the Australian Prudential Regulation Authority (APRA) in July 2019, have renewed investor confidence in the market. And Brad Teal Rental Department Manager Prue Bryant predicts the momentum will continue into 2020, with the new year shaping as an “investor’s market”. “Rentals are filling with ease, now is the time for investors to make their mark,” she says. “The summer and autumn period are our busiest months, people don’t want to be moving house in winter, and investors will see their properties rented out within days.

“It’s easy to find the right tenant, people are just waiting for the listings and jumping on them. “Investors don’t need to be concerned about loss of rent, more so securing the investment at the right price to ensure capital growth in the long term.” A new Brad Teal Real Estate leasing system that provides for electronic signatures makes the process even easier, with rental properties occupied as quickly as 24 hours after a landlord approves tenancy. Ms Bryant says population growth will be the main driver in the property investment market this decade, ensuring a constant demand for rental homes. Australian Bureau of Statistics data shows Melbourne is Australia’s fastest growing city and is set to overtake Sydney as the nation’s most populated by 2026. “Population growth is on the rise and doesn’t look to be slowing down,” Ms Bryant says. She notes today’s renters are also more likely to rent for longer, with some choosing to buy property where they could afford it while renting where they want to live.

P6

PropTalk / Autumn ‘20

Latest realestate.com.au data shows units across Melbourne’s north-west returned the best gross rental yields last year, with Flemington at 5.10 per cent, followed by units in Essendon North (4.98 per cent), Kensington (4.98 per cent) and Craigieburn (4.80 per cent). They all outperformed the Greater Melbourne yield of 4.16 per cent.

Top yields found in the housing market: Keilor Downs Romsey Sunbury Diggers Rest Melton South

3.47% 3.70% 3.80% 3.96% 4.33%

This compares to a 3.13 per cent yield for houses across Greater Melbourne. The highest median rent in the northwest region came from Brunswick East houses, at $650 a week, followed by Brunswick West houses, at $610 a week, and Macedon houses at $590 a week. Niddrie topped the list for highest weekly unit rents at $490, with Aberfeldie not far behind at $483 and Airport West at $460.


“Population growth is on the rise and doesn’t look to be slowing down.” PRUE BRYANT Rental Department Manager Brad Teal Real Estate

PropTalk / Autumn ‘20

P7


rental yield and median rental performance by suburb UNIT

HOUSE INDICATIVE GROSS RENTAL YIELD (12 MTHS*)

MEDIAN ASKING RENT (12 MTHS*)

INDICATIVE GROSS RENTAL YIELD (12 MTHS*)

MEDIAN ASKING RENT (12 MTHS*)

Aberfeldie

1.94%

$550

2.59%

$483

Airport West

2.76%

$420

4.05%

$460

Ascot Vale

2.83%

$590

4.30%

$420

Avondale Heights

2.76%

$430

3.82%

$450

Brunswick

3.00%

$600

4.37%

$450

Brunswick East

3.41%

$650

4.59%

$450

Brunswick West

2.88%

$610

4.16%

$380

Caroline Springs

3.57%

$430

4.37%

$395

Coburg

3.04%

$540

4.31%

$410

Coburg North

3.28%

$500

4.22%

$440

Craigieburn

3.94%

$400

4.80%

$350

Deer Park

3.57%

$380

3.96%

$350

Delahey

3.73%

$380

4.64%

$350

Derrimut

3.54%

$440

°

°

Diggers Rest

3.96%

$400

°

°

Epping

3.65%

$390

4.61%

$350

Essendon

2.10%

$570

4.00%

$400

Essendon North

2.22%

$470

4.98%

$400

Essendon West

2.28%

$500

°

°

Fawkner

3.27%

$420

4.60%

$400

Flemington

2.91%

$570

5.10%

$395

Footscray

3.12%

$480

4.72%

$370

Gisborne

3.08%

$468

4.12%

$400

Glenroy

3.10%

$405

4.02%

$390

Gowanbrae

3.53%

$465

°

°

Hadfield

3.01%

$420

4.37%

$400

Hillside

3.25%

$400

4.42%

$380

Kealba

3.45%

$390

°

°

SUBURB

P8

PropTalk / Autumn ‘20


* HomeTrack/realestate.com.au data for the 12 months to January 2020 ° Due to limited sales transactions, data is not available UNIT

HOUSE INDICATIVE GROSS RENTAL YIELD (12 MTHS*)

MEDIAN ASKING RENT (12 MTHS*)

INDICATIVE GROSS RENTAL YIELD (12 MTHS*)

MEDIAN ASKING RENT (12 MTHS*)

Keilor

2.64%

$425

°

°

Keilor Downs

3.47%

$420

3.93%

$365

Keilor East

2.82%

$450

3.72%

$450

Keilor Park

3.16%

$435

°

°

Kensington

3.16%

$590

4.98%

$450

Kurunjang

4.16%

$340

°

°

Kyneton

3.86%

$445

3.90%

$360

Macedon

3.26%

$590

°

°

Maidstone

3.14%

$450

4.10%

$440

Maribyrnong

2.96%

$538

4.08%

$400

Melton

4.32%

$320

4.83%

$290

Melton South

4.33%

$350

5.20%

$295

Melton West

4.07%

$360

4.75%

$320

Moonee Ponds

2.58%

$580

4.59%

$430

Mount Macedon

2.88%

$520

°

°

New Gisborne

3.81%

$550

°

°

Niddrie

2.38%

$480

3.92%

$490

Oak Park

2.89%

$468

3.34%

$410

Pascoe Vale

2.75%

$450

3.64%

$420

Pascoe Vale South

2.83%

$500

3.64%

$420

Riddells Creek

2.89%

$433

°

°

Romsey

3.70%

$420

5.23%

$420

St Albans

3.18%

$360

4.17%

$350

Strathmore

2.18%

$558

3.34%

$440

Sunbury

3.80%

$395

4.54%

$345

Sydenham

3.50%

$400

4.47%

$370

Taylors Hill

3.34%

$450

°

°

Tullamarine

3.40%

$400

4.10%

$370

Woodend

3.19%

$500

4.08%

$410

SUBURB

PropTalk / Autumn ‘20

P9


there’s no one-size-fits-all in the

property investing game After purchasing his first property at just 18, Mario Borg’s appetite for property investing has grown well beyond the one–bedroom Thornbury flat that launched his portfolio. Now, 30 years on, the entrepreneur has an impressive property portfolio of units, apartments and houses. He has also branched out into subdividing and building homes. At the completion of his next project, Mr Borg will own a total of 15 properties with an approximate value of $15 million – three in the bayside area and 12 in Melbourne’s north.

P10

Just as any businessperson faces their highs and lows – Mr Borg is no different. A divorce 16 years ago was the trigger for re–considering his property strategy and the beginning of snowballing success. Living in Coburg in the 90s gave the entrepreneur an insight to the surrounding suburbs and their potential for growth. “There was a lot of infrastructure coming in, the government was spending money on roads, tram upgrades and the demographic was changing – it was no longer just a family neighbourhood,” he says. Mr Borg, who now lives in Melbourne’s southeast and runs Mario Borg Strategic Finance, strongly advises against buying an investment property just because it’s close to home.

PropTalk / Autumn ‘20

“Don’t just invest in your hood,” he says. “I’m investing where I see growth and most of my properties and future projects are all in the north. “I could see the north was the same distance to the city as suburbs like Elwood and Brighton but the houses came at a discounted price.” Mr Borg has his sights set on some of the budding suburbs in the City of Moreland. “Brunswick and Coburg have done exceptionally well and eventually places like Glenroy, Oak Park and Fawkner – only a further 10–minute drive – will get that flow on effect,” he says. “These suburbs will do well in the next few years. They are starting to show really positive green shoots.”


Brunswick’s property prices have skyrocketed over the past five years, with the median house price rising 27.8 per cent from $780,000 to $996,500, according to CoreLogic data.

“I manufacture my own equity, money makes money,” he says.

Mr Borg says choosing the right location and the right type of property is key.

“I built five townhouses, retained one and sold four.

“Asset selection is fundamental and critical for wealth creation,” he says.

Neighbouring Brunswick West has performed even better, the median price up more than 40 per cent in the same period, from $750,000 to $1.095 million.

“On the next project I developed seven townhouses, kept two and sold five, and so on and so forth.”

“Buying the right type of property which is going to outperform the market and not banking on the $100 rent you’re receiving each week – the latter isn’t necessarily creating wealth, accumulating property is.”

This compares to a 51.4 per cent increase in Fawkner, which remains relatively affordable at $651,000, and a 35.8 per cent rise in Glenroy, where the median house price sits at $645,000, while Oak Park’s median is $785,000 after 35.3 per cent growth in five years. Mr Borg bought his first development site in Brunswick West from Brad Teal Real Estate in 2005 and has switched his investment focus to building townhouses in response to growing buyer demand for this style of living.

Mr Borg says he saw the potential in townhouses about 10 years ago. “I’m a big fan of townhouses, they suit all demographics: the upgrader, downsizer, professional young couples, singles and families,” he says.

Patience is another tip. “Plant the seeds today and reap the rewards later,” he says

“They have their own privacy, more room than apartments, and you can still maintain a small backyard.

“Too many people get impatient – they see a quick dollar on the table and cash in without considering the selling costs and taxes, they have just given that growth to someone else.

“People are time poor and don’t want to spend their weekends mowing lawns on quarter–acre blocks.”

“Time is the magic ingredient to wealth creation through property.” MARIO BORG Property Investor & Brad Teal Client

PropTalk / Autumn ‘20

P11


the first home buyers

deposit scheme kicks in...

First–home buyers are about to get a leg–up onto the property ladder, with the start of the federal government’s First Home Loan Deposit Scheme from January. The scheme will allow 10,000 first–time buyers to purchase a property with a deposit of just 5 per cent, without having to pay costly lenders’ mortgage insurance. The insurance is normally levied on borrowers with a deposit of less than 20 per cent of their loan amount. But the government will act as guarantor for 15 per cent of the loan amount. In Melbourne, the scheme paves the way for first–home buyers to purchase a $600,000 home with a deposit of just $30,000. Property purchases are capped at $600,000 in Melbourne and Geelong, while those who buy in other areas of the state can purchase a home for up to $375,000. The deposit scheme, part of the National Housing Finance and Investment Corporation Bill (NHFIC) to tackle housing affordability, is designed to make it easier for first–home buyers to break into the market.

P12

It is expected to cut the time it takes to save a deposit by at least half. Avoiding the lenders’ mortgage insurance hit can also save first–home buyers tens of thousands of dollars. The insurance on a $600,000 home purchase with a 5 per cent or $30,000 deposit is more than $25,000.

The scheme is eligible for single first–home buyers who earn up to $125,000 or couples earning up to $200,000 if they have saved 5 per cent of the value of the home. The government guarantee would stay in place for the life of the loan or until it is refinanced. It is limited to just 10,000 first–home buyers each financial year, on a first– come, first–served basis. It is the latest boost for first–home buyers, alongside state government stamp duty assistance, which provides exemptions for purchases up to $600,000 and concessions for purchases up to $750,000.

PropTalk / Autumn ‘20

Latest Australian Bureau of Statistics data shows lending to first–home buyers increased 5.2 per cent in August, the strongest rise this year. Whilst critics have warned the scheme could lead to riskier borrowing and push up prices, the Grattan Institute claimed the scheme is unlikely to make a material difference in its current form because it is limited to 10,000 buyers a year. “The scheme is small so it is unlikely to make much of a difference to home ownership rates for young Australians or house prices,” the Grattan Institute report notes. “But if the scheme were expanded it would prove counterproductive: It would push up prices, benefiting sellers at the expense of first–home buyers, while increasing the risks of inappropriate lending at costs to both households and government.” Major mortgage lenders joined the scheme from January 1, 2020. Other financial institutions from February 1, 2020. 6500 loans were processed in the first six weeks of the program, according to government released data. Early indicators show the scheme is particularly encouraging first home buyers under 30.


Latest Australian Bureau of Statistics data shows lending to first–home buyers increased 5.2 per cent in August, the strongest rise this year.

PropTalk / Autumn ‘20

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homes in the sky

in Melbourne’s north-west High end living is drawing in new buyers for a slice of Maribyrnong’s finest apartments.

Brad Teal Real Estate Sales Manager David Thiessen says the apartments are a standout in the north-west.

From renowned developers JMC Group and designed by Interlandi Mantesso Architects, The Marque is a glass façade icon for Melbourne’s inner west which wows on first sight.

“This is something you would expect to see in high end areas, such as South Yarra or Kew. City views from the west are undoubtedly the best views in Melbourne.”

The luxurious apartments, touted as homes in the sky, range from 65sqm to 155sqm with additional large terraces.

The breathtaking views across the city and to the Dandenongs are matched by The Marque’s “unbeatable” location.

The Level 12 indoor/outdoor communal area roof top features several barbeques and various casual seating and dining spaces, complete with a kitchenette, lounge and TV. Residents have the option to book this space to host private functions for a nominal fee.

“There is easy freeway access to the CBD, just 10km away, and a short walk to two tram stops (routes 82 and 57), Highpoint shopping centre sits 700m away, all amenities at hand and great dining options on your doorstep, it’s ideal,” Mr Thiessen says.

“17 floors of ultra-modern living is unique to this part of Melbourne,” he says.

The Marque, at 72 Wests Road, Maribyrnong, compromises one to three-bedroom apartments spread across 17 luxurious levels touted as “an ultra-modern apartment lifestyle, with a unique difference”. The apartments are perfect for those looking to downsize from the family home but still want that spacious, luxurious high-end living.

They feature open-plan designs, engineered timber floorboards and generous balconies. Floor-to-ceiling windows frame suburban views of the CBD skyline and flood the living areas with natural light. The kitchen features stone benchtops and Miele appliances, while bedrooms have wool carpets and fitted out wardrobes. Sheer and blockout blinds throughout, as well as ducted heating and cooling add to the many inclusive amenities. Brad Teal Real Estate's appointment as the direct sales agent will give interested buyers the opportunity to inspect via private appointments or advertised open for inspection times. One-bedroom apartments are priced from $429,000, two-bedroom designs start at $590,000 and three-bedroom floorplans are priced from $920,000.

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PropTalk / Autumn ‘20


“City views from the west are undoubtedly the best views in Melbourne.” DAVID THIESSEN Sales Manager Brad Teal Real Estate

PropTalk / Autumn ‘20

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unreal estate results SOLD

97 THE CRESCENT, ASCOT VALE $1,060,000

SOLD

233 SHEEDY ROAD, GISBORNE $1,220,000

SOLD

9 FONTAINE STREET, PASCOE VALE SOUTH $1,255,000

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Recently sold by Brad Teal Real Estate

SOLD

SOLD

10 GOULD STREET, COBURG NORTH $920,000

47 SALMON AVENUE, ESSENDON $1,550,000

SOLD

SOLD

238 BURROWYE CRESCENT, KEILOR    $875,000

73A EGLINTON STREET, MOONEE PONDS $1,290,000

SOLD

SOLD

66 REYNOLDS PARADE, PASCOE VALE SOUTH $1,295,000

PropTalk / Autumn ‘20

9 BALMANNO CRESCENT, STRATHMORE $3,200,000


unreal estate results

Recently sold by Brad Teal Real Estate

SOLD

29 CHILDE HAROLD ROAD, GISBORNE $992,000

SOLD

167 ZIG ZAG ROAD, MOUNT MACEDON $1,900,000

SOLD

48 HIGHGROVE DRIVE, SUNBURY $1,410,000

PropTalk / Autumn ‘20


QUARTERLY PROPERTY INSIGHT

With Brad Teal, consider it done.

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Profile for Brad Teal Real Estate

Prop Talk Autumn 2020  

Prop Talk Autumn 2020  

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