BCNW December 2021 Report

December report.

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December report.

From our corporate director.

Dean O’Brien

House price appreciation continues to slow across the country, in December we saw National Median House Prices grow by 1% according to the Corelogic Index. Capital Cities across Australia had varying degrees of growth with Melbourne having its first decline since October 2022 with a 0.1% drop and being the only capital city with no growth for the month. On the other end of the scale Brisbane experienced 2.9% of growth followed closely by Adelaide with 2.6%. (Insert slide below ) Regionally the market again out shone the capital cities with an overall 2.2 growth nationally with Victoria recording another strong 1.8% increase in values which officially caps off a stellar calendar year of growth with an average of 24% across all of Regional Victoria. St Andrews Beach on the Mornington Peninsula was crowned the best performing suburb across all of Australia with a staggering 58.6% annual growth in median house price for 2021.

rental market for Melbourne's property investors continues to improve and that is because rental prices achieved are recovering and continue to shows good signs that growth will continue for another 12 months at this stage. With December being a relatively quieter month for changeover in the permanent rental market we didn’t see a lot of change in the market, but with the busier months of January and February we expect to more activity. Overall rents in Melbourne over the full 12 months of 2021 increased by 4.8% for houses whilst units prices increased of 3.0%. Overall gross rental yields are still above most investment loan interest rates which is another reason why we are seeing investors looking to invest in real estate in 2022.

Nationally, the advertised inventory finished the year 24.7% below the 5 year average, meaning stock levels across the country continued to be in short supply, however Melbourne was the only state to buck that trend finishing 2021 with housing supply being about the 5 year average While stock levels have generally been low, the total number of home sales in 2021 was approximately 40% above the decade average.

CoreLogic estimates there were approximately 653,000 house and unit settlements over the calendar year, the highest number of annual sales on record.

Regards, Dean O’Brien

We sell more.

A snapshot of last months sales.

Average sale price.

Sale price.

High.

$845,194

$1.680M $370K

Low.

Number of suburbs sold in.

31

Sale Price

Address

Suburb

155 Obriens Road

Bayles

7

3

6

$1,680,000

41 Tamar Street

Bayswater

3

1

1

$862,000

58 Stoney Creek Road

Beaconsfield Upper

3

2

2

$1,005,300

38 Jack William Way

Berwick

3

2

2

$785,000

5 Goodall Court

Berwick

4

2

3

$1,280,000

23 Hobart Avenue

Berwick

3

2

2

$1,070,000

9 Orsino Place

Berwick

5

5

5

$750,000

29 Fishermans Drive

Blind Bight

3

1

2

$660,000

5 Janville Street

Boronia

3

3

10

$940,000

5 Tormore Road

Boronia

3

2

2

$895,000

1/3 Pascoe Road

Boronia

3

2

2

$908,000

1 Lorikeet Court

Boronia

3

2

2

$880,000

37 Valerie Street

Boronia

3

1

2

$885,000

12 Platypus Rise

Botanic Ridge

4

2

2

$875,000

28 Royal St Georges Chase

Botanic Ridge

3

2

4

$950,000

68 Royal St Georges Chase

Botanic Ridge

3

2

2

$950,000

59 Long Street

Botanic Ridge

3

2

2

$910,000

We sell more.

Address

Sale Price

Suburb

30 Beazley Road

Cardinia

4

2

2

$910,000

15 Reflections Boulevard

Clyde North

4

2

2

$935,000

22 Swindale Way

Clyde North

4

2

2

$685,000

249 Heather Grove

Clyde North

1/4 Banks Road

Cranbourne

2

1

1

$452,500

52 Springhill Drive

Cranbourne

3

2

1

$585,250

3 Harpenden Terrace

Cranbourne

4

3

2

$920,000

97 Willow Glen Boulevard

Cranbourne

3

2

1

$586,500

13 Brookland Greens Boulevard Cranbourne

4

2

4

$737,500

4/55 Sunningdale Crescent

Cranbourne

4

2

2

$525,000

5 Hovell Court

Cranbourne

3

1

2

$600,000

2/3 Fairfield Street

Cranbourne

2

1

1

$437,000

4/18 Stawell Street

Cranbourne

2

1

1

$420,000

7 McMahon Avenue

Cranbourne North

4

2

2

$745,000

6 Rocket Lane

Cranbourne North

2

2

1

$370,000

43 Linda Drive

Cranbourne West

4

2

2

$660,000

4/29 Wilma Avenue

Dandenong

2

1

2

$455,000

65 Mcfees Road

Dandenong North

4

1

2

$667,500

30 Sylvia Street

Dandenong North

3

1

2

$680,000

49 Forest Road

Ferntree Gully

2

2

2

$660,000

Land

$650,000

We sell more.

Sale Price

Address

Suburb

25 Lapis Street

Koo Wee Rup

6

2

2

$885,000

16 Diamond Drive

Koo Wee Rup

4

2

2

$860,000

3 Francis Crescent

Langwarrin

3

1

1

$595,000

34 Henry Lawson Drive

Lynbrook

4

2

2

$786,000

1 Storm Avenue

Lyndhurst

4

2

2

$1,040,000

Unit 2/481-483 Princes Highway Narre Warren

3

1

2

$526,000

7 Wool Shed Road

Narre Warren South

4

3

2

$1,061,000

25-26 Mack Road

Narre Warren South

4

2

2

$1,650,000

7 Harold Street

Officer

3

2

1

$555,000

5 Quirk Road

Pakenham

4

2

2

$640,000

8 Pearcedale Road

Pearcedale

4

2

2

$1,668,000

2 Hastings Street

Pearcedale

4

2

2

$1,180,000

123 Sovereign Manors Crescent Rowville

3

2

1

$655,000

4/60 East Road

Seaford

3

2

1

$640,000

1/75 McClelland Drive

Skye

3

2

2

$655,000

139 South Gippsland Highway

Tooradin

3

2

2

$800,000

1 Short Street

Vermont

4

1

2

$1,443,500

6 Hassett Court

Wantirna South

4

2

2

$1,355,000

56 Aspect Avenue

Wantirna South

4

2

2

$1,335,000

2/27 White Road

Wantirna South

3

2

2

$880,000

We lease more.

A snapshot of last months leases.

Average weekly rent.

Average monthly rent.

$451

$1,960

Rental price p/w.

High

Low

$750 $345

Number of suburbs leased in.

23

Leased price p/w

Leased price p/m

2

$460

$1,999

2

2

$400

$1,738

3

3

2

$515

$2,238

Berwick

2

1

1

$345

$1,499

4 Mandalay Court

Berwick

4

2

2

$600

$2,607

4 Santa Monica Place

Berwick

3

3

2

$545

$2,368

5 Raneen Place

Berwick

4

2

2

$430

$1,868

5/17-19 Hazeldene Court

Berwick

0

0

0

$510

$2,216

6/23 Farnborough Way

Berwick

3

2

2

$410

$1,782

7A Bowen Court

Berwick

3

1

0

$380

$1,651

10 Homestead Road

Berwick

3

2

2

$395

$1,716

13 Findon Way

Berwick

4

2

2

$500

$2,173

7 Hood Court

Berwick

3

1

2

$435

$1,890

40A Tormore Road

Boronia

3

2

2

$460

$1,999

13 Saltbreeze Circuit

Clyde

3

2

2

$450

$1,955

95 Athenaeum Avenue

Clyde North

4

2

2

$500

$2,173

Address

Suburb

18 Jeanette Street

Bayswater

4

2

17/2-6 Jerilderie Drive

Berwick

3

19A Hazeldene Court

Berwick

2/39 Bemersyde Drive

We lease more.

Address

Leased price Leased price p/w p/m

Suburb

21 Powlett Drive

Clyde North

4

2

2

$450

$1,955

80 Picnic Avenue

Clyde North

3

2

2

$400

$1,738

10 David Avenue

Cranbourne

3

2

2

$370

$1,607

17 Boronia Avenue

Cranbourne

3

2

2

$410

$1,782

4 Rimfire Crescent

Cranbourne

5

2

2

$490

$2,129

6 Greaves Street

Cranbourne

5

2

2

$430

$1,868

20 Sunbird Avenue

Cranbourne

4

2

2

$470

$2,042

47 Artfield Street

Cranbourne East

4

2

2

$420

$1,825

19 Langside Grove

Cranbourne East

4

2

2

$430

$1,868

19 Northumbria Street

Cranbourne East

4

2

2

$470

$2,042

26 Yellow Robin Circuit

Cranbourne East

3

2

2

$410

$1,782

30 Botany Way

Cranbourne East

4

2

2

$450

$1,955

8 Criterion Way

Cranbourne East

3

2

2

$400

$1,738

8 Tarwin Place

Cranbourne East

3

2

1

$400

$1,738

120 Mountainview Blvd

Cranbourne North

4

2

2

$500

$2,173

14 Lucinda Lane

Cranbourne North

3

2

2

$450

$1,955

2 Brentwood Court

Cranbourne North

3

1

2

$395

$1,716

7 Dianne Court

Cranbourne North

3

2

2

$450

$1,955

15 Phillip Court

Cranbourne North

3

1

2

$430

$1,868

4 Yorkshire Drive

Cranbourne North

4

2

2

$525

$2,281

1 Bursaria Lane

Cranbourne West

3

2

1

$420

$1,825

11 Gladesville Court

Dandenong North

3

1

0

$430

$1,868

12 Gunns Road

Hallam

3

2

2

$470

$2,042

5 Oaktree Drive

Hampton Park

3

2

1

$395

$1,716

We lease more.

Address

Leased price Leased price p/w p/m

Suburb

29 Natren Court

Harkaway

4

2

2

$600

$2,607

5/30 Warrenwood Place

Langwarrin

2

1

1

$380

$1,651

17 Parslow Cres

Lynbrook

5

2

2

$540

$2,346

5 Rahni Close

Narre Warren

3

2

2

$440

$1,912

10 Hansen Court

Narre Warren

4

2

2

$500

$2,173

18 Culcairn Court

Narre Warren

3

2

2

$405

$1,760

2 Dewsbury Court

Narre Warren

3

2

2

$440

$1,912

3 Warren Close

Narre Warren

2

1

1

$380

$1,651

4 Clarrisa Court

Narre Warren

3

2

4

$500

$2,173

8 Hillbrick Court

Narre Warren

3

1

2

$380

$1,651

9 Franleigh Drive

Narre Warren

3

2

2

$420

$1,825

21 Minton Walk

Narre Warren South

4

2

2

$500

$2,173

13 Fairweather Parade

Officer

3

2

2

$390

$1,695

16 Addison Close

Officer

3

2

2

$410

$1,782

247 Princess Highway

Officer

3

2

2

$460

$1,999

5 Fairchild Place

Pakenham

4

2

2

$450

$1,955

9 Hunter Lane

Pakenham

3

2

2

$390

$1,695

2/17-19 Bardia Street

Ringwood

2

1

1

$410

$1,782

105/85 Market Street

South Melbourne

1

1

1

$375

$1,629

5 Tooradin Esplanade

Tooradin

3

4

2

$750

$3,259

2 Cameron Court

Wantirna

3

1

1

$450

$1,955

27 Newcombe Court

Wantirna South

4

2

2

$550

$2,390

8 Telopea Street

Wantirna South

3

2

2

$500

$2,173

An historic year for housing: 10 property market records set in 2021 Eleanor Creagh In 2021, strong demand, low supply and low interest rates combined to drive the fastest pace of price growth in more than three decades.

Price growth, views per listing, days on site and preliminary weekly sales volumes all broke records, while the number of suburbs in the $3-million club tripled.

Below we count down about the property records set in the year that was. . .

10. Mortgage rates hit historic lows Low interest rates and near-zero real mortgage rates spurred record demand for property, pushing prices higher Australia wide. Home lending growth gathered pace, and new lending and refinancing drove total housing finance commitments to an all-time high.

9. Listings hit historic lows Earlier in the year active (total) for sale listings on realestate.com.au hit an historic low after falling 3.3% in June 2021.

However, as lockdowns have lifted and restrictions have eased, the yearend has brought three consecutive months of increased listings, with November bringing decade highs for new listings in capital cities.

December is already proving a markedly different environment to much of this year. The end of lockdowns combined with extraordinary price growth has given sellers the confidence to list.

8. Demand hit record highs Low rates, shifting lifestyle preferences, an influx of expats, low supply of properties for sale, forced savings and government support measures have all fueled Australia’s appetite for property. The combination of the above not only drove demand to record heights, it also pushed prices to new highs.

7. Prices rose at the fastest pace in more than three decades In the year to November, dwelling prices rose 23% in capital cities and surged by 30% in the regions. Not only has this spate of price growth been the fastest in more than three decades, in real terms it’s the thirdfastest growth run in a century.

Sydney is still the most expensive market by a long shot, but across the country seven-figure searches are the new normal and the share of searches for properties priced at or above $1 million is at a record high.

6. Properties sold at record speed across the country.

Buyers faced tough competition for much of this year. With the supply of properties for sale at low levels, many were forced to make quick decisions, in some cases paying large premiums.

In November, the median number of days a property was listed on realestate.com.au before we selling was at an historic low of 30 days.

Days on site was at record low levels in 32 out of 88 SA4 regions across the country. November also saw a record low days on site in Adelaide, Canberra, Regional NSW and Regional Tasmania.

The recent increase in supply of properties for sale has cooled some of the extreme competition.

The increase in new listings has given buyers extra choice, with the monthly pace of price growth already slowing. This year has well and truly been a “sellers’ market”, and though buyers continue to outweigh sellers, there are signs that balance may be slowly shifting.

Article Source : www.realestate.com.au

4. Demand for luxury property soared Lockdowns and the delta variant were no match for demand for luxury property. Australia’s $3-million suburb club doubled again in 2021, as surging household wealth, strong savings and low rates allowed many to take on more debt, pushing house prices higher.

Closed international borders and more time at home saw some reassessing their housing needs, with Australians and returning expats opting for lifestyle and wellbeing upgrades. As a result, demand for lifestyle and coastal properties surged through the pandemic.

Whether it was a luxurious abode to work from home, or a holiday pad in locked-up Australia, this increase in demand saw the $3-million club surge.

5. Sales volumes soared Sales volumes hit record highs for much of this year. In the first weeks of December, sales volumes clocked the 8000 mark for the first time, according to PropTrack data.

Article Source : www.realestate.com.au

Article Source : www.realestate.com.au

3. Capital cities clocked a record net loss of people In the March quarter of this year, data from the ABS showed capital cities recorded a net loss of 11,800 people – more than double the decade average and the largest quarterly loss on record. This was also was prior to the arrival of the delta variant.

Taking advantage of remote working, many opted for that sea or tree change, with a net 43,000 people exiting capital cities in favour of regional areas. That was the biggest net influx to the regions since Australian Bureau of Statistics records began in 2001.

Not only have government support measures provided an exceptional buffer to households, but the increase in the value of non-financial assets, housing, and non-monetary financial assets, equities, has been equally as formidable. In addition, the household saving ratio increased to 19.8% from 11.8% in the June quarter – a sizeable cushion in the event of continued disruption.

According to the ABS, total household wealth (net worth) rose by $590 billion, or 4.4%, hitting an all-time high $13.92 trillion in the September quarter. That’s up 20.2% on a year ago – the largest annual gain in more than a decade.

With the labour market recovering quickly and the economy rebounding from its delta-induced dip, this wealth effect should continue to drive a strong economic recovery into next year. In property, with many current homeowners having accumulated substantial equity gains, this should support upgraders and transactional volumes in 2022.

Though the pace of price growth in 2022 will be no match for 2021’s record-breaking speeds.

2. Demand for regional property soared, fueling record-breaking price growth With both net regional and interstate migration trending above long run averages, the regions have seen record price growth this year. Combined regional housing markets have outperformed combined capital cities in terms of price growth.

It’s no secret low rates have seen demand for property up nationwide, but regional markets were the standout as a unique combination of circumstances supersized demand for regional locations. The remote work boom made relatively affordable regional areas all the more enticing.

The pandemic also had a profound impact on lifestyle wants and housing needs, with many seeking more space and larger homes in regional areas.

1. The value of Australian housing hits a record $9 trillion The forces outlined above have resulted in the value of Australian homes (and the wealth of homeowners) surging in 2021 Data from the Australian Bureau of Statistics (ABS) shows the total value of Australia’s housing stock has surged almost $500 billion in the past three months alone to hit an all-time high of $9.26 trillion.

Article Source : www.realestate.com.au

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