Latest Local Property Results
Grant’s Market Update Grants Estate Agents 3a Gloucester Ave, Berwick (03) 9707 5555 berwick@grantsea.com.au
Latest Local Property Results
Grant’s Market Update !
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3rd Quarter 2013 The market moves up City of Casey and City of Cardinia sales have continued to show signs of the market turnaround with renewed interest from local buyers. Market-wide conditions improved as less homes on the market combined with record low interest rates started to take effect. Improving business and consumer confidence, low unemployment, low inflation and growing rental yields have seen quality properties attract 10-20 buyers through the open and multiple competing bidders trying to secure the property. Strong local, first home buyer and investor demand is currently directed toward a far depleted supply. People are sensing that the bottom has passed and interest rates are too good to ignore. Inventory experienced its 3rd consecutive quarter of decline. Available listings are 35% below the recent peaks, which is also driving prices but confidence remains the key. The GFC had a severe impact on buyers outlook; whilst there have been fantastic opportunities for some time, many have been seeking the ideal conditions preferring to wait until the market “hit the bottom�. This seems to be changing with the Westpac-Melbourne Institute Consumer Sentiment Index at or above 100 for three consecutive months after 14 out of 16 months below it. Interest rate cuts are also having a positive influence, recent rate cuts have brought the average three year fixed loan to its cheapest level in two decades. We are now seeing fixed 3 year rates at under 5%. Another sign of renewed market confidence is investors returning to property, with low interest rates, rising rents and price growth bringing them back to the market in force. Cash and term deposit rates have also been falling making property more attractive and theres continuing strong interest in purchasing via self managed super funds. Prices responded to the strong demand, limited supply, low interest rates and enduring confidence in Berwick as a safe and thriving market. Market-wide average prices increased 5% from the June quarter. Median price also show signs of improvement across price levels. The Berwick, Narre Warren South, Beaconsfield and surrounding markets have reached an exciting moment, with strong sales performance across all areas, especially in the entry level price categories and properties. We see the year continuing to be the turnaround in the market, those who get in first will reap significant rewards as price growth continues from low recent levels and thru the next 3-5 yr cycle. If you have any questions regarding your specific needs, Grants agents are here to help you with expert market knowledge and exceptional service. Grants are the leader in our marketplace and we look forward to helping you move.
Latest Local Property Results
Grant’s Market Update !
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3rd Quarter 2013
Ten reasons property prices will be 5-10% higher by July 2014 1. The Australian share market is reaching record highs, this is generating great wealth for many Australians 2. Global economic conditions are improving we will benefit more than any other country 3. Record low interest rates are making property more affordable 4. We have a nationwide housing shortage now and into the future, so demand will outstrip supply 5. Cash & term deposit rates are falling making property a more attractive investment strategy. 6. Rents are continuing to climb providing investors increasing yields over the next few years 7. Self-managed super funds (SMSF) are eagerly investing directly in residential property 8. Luxury homes sales are improving for the first time in 2 years 9. The federal election is out of the way which will give great confidence to business and consumers 10. There’s less risk in buying property than any other asset, Australians will continue to love bricks and mortar for their future financial plans over the next 3-5 year cycle.
If you have any questions regarding your specific needs, Grants agents are here to help you with the areas most trusted real estate opinion. We sell more homes than anyone in Casey / Cardinia and having the biggest local sales team means we have a specialist in your area. If you would like to find out what your home is worth simply call 9707 5555 for a FREE market appraisal.
Market Snapshot
Bellbird Pk / William Rd
Timbarra
The quarter has seen prices start to recover from recent levels, a recent sales campaign for a William Rd property saw 26 buyers through the property in 12 days leading to 3 offers.
The demand continues to outpace supply with multiple buyers competing for available homes. Strong demand for 3 br for first home owners and investors returning to market.
Olde Berwick / Edrington Pk Lack of stock on market remains, buyers who have been sitting on the sidelines look to be starting to move. Prices likely to keep recovering.
Beaconsfield / Beaconsfield Upper Beaconsfield prices have remained steady with plenty of buyers showing interest. Prices likely to start increasing more rapidly as current properties for sale have decreased in numbers.
Berwick South Prices have remained steady during the 2nd qtr, increasing competition for 4 bd homes is seeing competitive bidding for quality homes.
Bemersyde Dve/ Kingsmere Recent sales results have shown increasing buyer interest. The end of the first home owner grant has caused demand to increase dramatically
The Chase / Eden rise Recent sales in the $550,000 plus mark is indicating that the higher end property prices are continuing to improve.
Berwick Springs / Beaumont Waters Prices still improving as stock on market remains low. Grants clearance rate in the area over the last 6mths has been above 75% as the area remains sought after.
Latest Local Property Results
Bellbird Pk/Wilson Botanic Market Update !
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3rd Quarter 2013 The quarter has seen prices start to recover from recent levels, a recent sales campaign for a William Rd property saw 26 buyers through the property in 12 days leading to 3 offers. Market-wide conditions improved as less homes on the market combined with record low interest rates started to take effect. Many properties have seen 10-20 buyers through the open and multiple competing bidders trying to secure the property. Strong local, first home buyer and investor demand is currently directed toward a far depleted supply. Inventory experienced its 3rd consecutive quarter of decline. Available listings are 35% below the peak in First Quarter 2009 and dropped 25% compared to Second Quarter 2012. Prices responded to the strong demand, limited supply, low interest rates and enduring confidence in Berwick as a safe and thriving market. Market-wide average prices increased 5% from the June quarter. Median price also show signs of improvement across price levels. For more information on the Berwick real estate market please visit our website at www.grantsea.com.au.
Berwick median sale prices - last 3 years
Grants Estate Agents Pty Ltd 2 / 6 - 8 Gloucester Avenue, Berwick Victoria 3806 Australia Ph: (03) 97673200 Fax: (03) 97673222 Email: bruce@grantsea.com.au
Past Sales $415,000
5 LAWRENCE DR BERWICK, VIC 3806 Map Ref: 111, A4 Sale Date: 18/05/13 Attributes: 3BED, 1ENS, 2BATH, 1CAR, 1LUG, 1990YR BUILT, 140.00M2F Area:
$431,000
35 GARDINER ST BERWICK, VIC 3806 Map Ref: 111, D5 Sale Date: 27/04/13 Attributes: 3BED, 1BATH, 2CAR, 2LUG, 1965YR BUILT, 114.00M2F Area: 806 M
$490,000
6 BALMAIN DR BERWICK, VIC 3806 Map Ref: 111, B5 Sale Date: 15/06/13 Attributes: 3BED, 1ENS, 2BATH, 2CAR, 2LUG, 1989YR BUILT, 282.00M2F Area:
$500,000
18 ROYSTON AV BERWICK, VIC 3806 Map Ref: 111, C4 Sale Date: 12/09/13 Attributes: 3BED, 1ENS, 2BATH, 2WC, 1LNG, 2CAR, 2LUG, 1990YR BUILT, 150.00M2F, RE Area: 818 M
$525,000
38A HARKAWAY RD BERWICK, VIC 3806 Map Ref: 111, C1 Sale Date: 08/04/13 Attributes: 3BED, 1ENS, 2BATH, 2CAR, 2LUG, 2010YR BUILT, 180.00M2F, MROAD Area:
$565,000
15 OUTLOOK DR BERWICK, VIC 3806 Map Ref: 111, C6 Sale Date: 26/06/13 Attributes: 3BED, 2BATH, 5CAR, 1986YR BUILT Area: 911 M
Grants Estate Agents Pty Ltd 2 / 6 - 8 Gloucester Avenue, Berwick Victoria 3806 Australia Ph: (03) 97673200 Fax: (03) 97673222 Email: bruce@grantsea.com.au
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