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MARKET UPDATE – JULY – SEPTEMBER 2011 Despite what the media may lead you to believe, real estate values have remained relatively unaffected this year. There has been no more than a 3 to 8% fluctuation, depending on the price range and/or type of property. However, we have seen a slight decline in market activity, with the third quarter recording 10 sales, down from 12 sales between April and June this year. Whilst other parts of Melbourne are experiencing an oversupply of listings, this is simply not the case in Beacon Cove. Supply is very limited and there is strong demand for certain types of properties, particularly for 3 bedroom, 2 bathroom homes with single garage and 3 bedroom plus study, 2 bathroom homes with double garage. Most of the sales activity has been with the mid-priced waterfront properties. There were three 2 bedroom water-facing apartments sold between $1,070,000 and $1,375,000 (price dependant on the particular building and individual fit out), a 3 bedroom water-facing apartment selling for $1,400,000 and a 4 bedroom corner apartment on a lower level achieving in the mid $1,500,000s. City-facing apartments have also performed well. We sold a terrace level apartment in the last low rise building for $817,000 and achieved a new record price of $980,000 for a 2 bedroom apartment in the third tower – it is only a matter of time before we crack the million dollar mark for a similar property! With the recent volatility in the local and international share markets and the Reserve Bank’s decision to keep interest rates on hold, we have seen more buyers returning to the market place. If the supply of Beacon Cove properties does not improve markedly, we could see increased competition at auctions and better prices. Demand is also outstripping supply with the executive rental market, and rents are increasing once again. If you need to relocate temporarily, please give us a call. We have a number of high calibre tenants looking to rent quality property in Beacon Cove with leases ranging from 1 to 3 years.


4 Strathaird Mews – 3 bedroom house PRIVATE SALE - $1,200,000

T01/159 Beach Street – 2 bedroom apartment SOLD AFTER AUCTION - $817,000

903/127 Beach Street – 2 bedroom apartment SOLD BEFORE AUCTION - $980,000

10 Beacon Vista – 4 bedroom house PRIVATE SALE - $1,817,500

64 The Cresent – 3 bedroom house SOLD AFTER AUCTION - $1,500,000

602/155 Beach Street – 2 bedroom apartment PRIVATE SALE - $1,375,000

807/115 Beach Street – 3 bedroom apartment SOLD AFTER AUCTION - $1,400,000

101/147 Beach Street – 4 bedroom apartment PRIVATE SALE – PRICE UNDISCLOSED

Ever Ever wondered wondered how how you you can can add add thousands thousands to to the the sale sale price price of of your your property? property? As As you you would would know know from from your your own own experience experience in in buying buying aa home home yourself, yourself, you you will will know know that that the the impressions impressions gained gained early early on on in in the the inspection inspection are are vital. vital. In In aa lot lot of of cases, cases, buyers buyers will will make make aa decision decision based based on on the the initial initial “feel” “feel” of of your your home. home. David David Lack Lack has has 18 18 years years experience experience and and can can tell tell you you anything anything he he thinks thinks needs needs doing doing around around your your home. home. It’s It’s an an interesting interesting trend trend that’s that’s happening happening in in the the real real estate estate industry industry –– people people are are able able to to arrange arrange their their finance finance aa lot lot quicker. quicker. When When you you find find your your next next home, home, the the chances chances are are you you will will need need to to make make aa quick quick decision. decision. You You maybe maybe in in aa hurry hurry to to get get your your property property on on the the market market and and get get itit sold. sold. Anything Anything that that needs needs doing doing which which may may substantially substantially increase increase the the value value of of your your home home may may take take aa little little time. time. David David can can point point out out inexpensive inexpensive ways ways to to improve improve the the salability salability of of your your home home which which will will help help itit sell sell quickly quickly and and realize realize more more money. money. IfIf you you think think this this would would be be aa help help to to you, you, call call David David Lack Lack for for an an appointment appointment and and as as part part of of our our service, service, we we will will provide provide you you with with our our comprehensive comprehensive booklet booklet “Preparing “Preparing and and Presenting Presenting your your Property Property for for Sale”. Sale”.

Thinking Thinkingof ofSelling? Selling? List Listwith withBeacon BeaconCove’s Cove’smost mostsuccessful successfulagency. agency. Contact ContactDavid DavidLack Lack0418 0418996 996265 265 Will WillJonas Jonas0419 0419335 335519 519 Biggin Biggin& &Scott ScottPort PortMelbourne MelbournePty PtyLtd Ltd Telephone: Telephone:8671 86713777 3777 Level Level1, 1,188 188Bay BayStreet, Street,Port PortMelbourne Melbourne IfIfanother anotheragent agenthas hasan anexclusive exclusiveauthority authoritycurrently currentlyon onyour yourproperty propertyplease pleasedisregard disregardthis thisnotice. notice.

Biggin Scott Port Melbourne Beacon Cove Newsletter  

Biggin Scott Port Melbourne Beacon Cove Newsletter

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