Property Market Update - Andrew Gibbons - Edition 1, 2020

Property Market Update Boroondara

Edition 1, 2020 We have experienced a mixed start to 2020 in Real Estate, withfeature strongimage, auction see page success rates and a spike in the number of listings suggesting a strengthening of the market. However, while stock levels remain reasonably high and with many active buyers and sellers in the market, the impact of COVID-19 is yet to be fully realized and the ongoing health of our team, our clients and the community becomes our primary concern.

In accordance with the most recent Federal Government guidelines, public auctions will be cancelled with immediate effect. All of Marshall White's current listings will now be offered via an Expression of Interest or Private Sale campaign.

Please contact our agents to express your interest in any of our listed properties.

We will continue to provide services to our clients in a considered manner and in a way that respects both the prevailing Government guidelines and the needs of all the participants in the Real Estate market.

We understand there will be uncertainty, and in some cases increased anxiety, among those who still wish to buy or sell.

Andrew Gibbons M 0407 577 007 P 8862 4948 E andrew.gibbons@marshallwhite.com.au

We encourage you to call our agents directly for the most current advice we can provide and outline a possible path forward for your Real Estate needs.

All of us at Marshall White wish you and your families the very best of health in these difficult times and we remain available to assist in any practical way we can.

Simon Jovanovic CEO, Marshall White Group

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From Andrew Andrew's take on the market this quarter

The contrast between the start of 2020 and just 12 months ago could not have been more dramatic. With the recovery consolidating in the last quarter of 2019, we were cautiously optimistic for a good start to the year´s auction season. Although there was an increase in the supply of property, it was not enough to keep up with strengthening demand. Vendors who did list their properties were rewarded with auction success rates over 80 per cent and prices that were above expectations. With yet another interest rate cut, a falling Australian dollar and turmoil in the share market, "bricks and mortar" is becoming once again the investment of choice. The Covid 19 virus has introduced an unknown factor to the property market but first indications are that while demand remains strong many potential vendors are choosing to postpone their decision to sell which will put further pressure on prices to potentially increase.

Andrew´s Favourite Restaurant Tinto

An authentic Spanish Restaurant & Wine Bar that brings the bright flavours and exhilarating atmosphere of Barcelona to the heart of Melbourne´s inner east, offering a unique and relaxed space for people to meet and socialise. Tinto has a bar, a dining area as well as footpath eating and a small courtyard. Have a chat over a ´cerveza´ (beer) or ´vino tinto´ while enjoying delicious tapas or raciones (larger plates), matched with a varied selection of Spanish and local Victorian wines and beers. The intimate dining area has a gas log fire and during the colder months provides warmth and a cozy ambience.

555/557 Burwood Road, Hawthorn 9994 3978

7 Wrixon Street, Kew

European Refinement on a Spectacular Scale 7 Wrixon Street, Kew

Magnificently situated within a deep private 1565sqm approx. northwest allotment with tennis court and pool, this luxurious residence showcases European elegance and spectacular city views near schools, Auburn Village and station and trams. The reception hall introduces elegant formal rooms, gourmet kitchen and expansive living/dining areas opening to the deep garden with pool and mod grass tennis court. The main bedroom with marble en suite and retreat/5th bedroom are complemented by three additional bedrooms, nursery/study, two bathrooms and spacious library. No current heritage overlay (GRZ-1).

A Word From My Clients I had the pleasure of dealing with Andrew Gibbons on both the purchase of our new home & also the subsequent sale of our existing property. It was actually the experience I had in buying through Andrew which allowed us to recognise what a terrific agent he is. From a buyers perspective he listened to our questions and work shopped answers with us to give us the comfort we needed. From a sellers perspective, Andrew was excellent to deal with & navigated the sales process in a truly professional manner. The sales process at Marshall White is second to none and Andrew's execution was first class.

When we first met Andrew we were very impressed!

He listened to our ideas, made suggestions, but never pressured us. He organised everything quickly, as we had time constraint. The advertising was organised quickly, the photography, brochure, the whole campaign was very satisfactory from our account. The auction day was shockingly wet & we had to have the auction indoors, with a large crowd, four bidders & many, many bids culminating in a great result for us.

We wish to commend you Andrew on your friendly & gentlemanly approach & we will certainly recommend you to friends thinking of selling their properties.

Beau & Jessica

John & Helen

Some of My Exceptional Sale Results

13 Clive Road, Hawthorn East

14 Harcourt Street, Hawthorn East

108 Sackville Street, Kew

4 3 2 Sold in the vicinity of $2,800,000

4 5 4 Sold in the vicinity of $9,100,000

6 3 2 Sold in the vicinity of $5,000,000

18 Roseberry Street, Hawthorn East

74 Roseberry Street, Hawthorn East

65 Fletcher Street, Hawthorn East

3 1 1 Sold for $1,565,000

3 2 2 Sold for $1,970,000

3 2 2 Sold for $1,650,000

12 Adeney Avenue, Kew

6 Barrington Avenue, Kew

11 Cochran Avenue, Camberwell

5 2 2 Sold in the vicinity of $3,100,000

3 2 2 Sold for $2,515,000

4 2 4 Sold for $3,210,000