BCNW monthly report

February report.

Our purpose.

To create a place where we can facilitate our people’s growth.

Our values.

Family.

Our colleagues are our broader family, assist when needed and when in need.

Mutuality.

Realising potential.

Respect our colleagues and our clients as you would like to be respected.

Unlock your full potential, encourage and support your colleagues.

Embrace change.

Strive for excellence; be open minded and willing to embrace change.

Health and energy.

Work towards being well balanced within yourself.

February report.

From our corporate director Dean O’Brien

To Customer,

February has certainly been a very exciting month in Real Estate. The City of Casey currently sits at 0.65% vacancy rates. The lowest we have seen, and demand doesn’t seem to be easing compared tho Melbourne Metro which is a little over 2%. Our team here at O’Brien Real Estate are working ona large number of applications on each property to ensure that you our customers are receiving the highest quality of renters.

The sales team have also seen a lot of buyer demand. Currently there is a shortage of properties on the market due to disruption of Covid, but as this is slowly moving back to a more normal market we are slowly resembling a more reasonable real estate market.

According to CoreLogic’s director of research, Tim Lawless, every capital city and broad ‘rest of state’ region is now recording a slowing trend in value growth, albeit with significant diversity.

In Melbourne advertised stock levels are now above average, tracking 5.5% higher than a year ago and 4.7% above the previous five-year average. But buyer demand is still high.

“Sydney and Melbourne have shown the sharpest slowdown, with Sydney (-0.1%) posting the first decline in housing values since September 2020, while Melbourne housing values (0.0%) were unchanged over the month, following similar results in December (-0.1%) and January (+0.2%),” he said.

So, if you are considering either buying for yourself and investment property or selling in the near future then now is the right time.

“Conditions are easing less noticeably across the smaller capitals, especially Brisbane, Adelaide and Hobart, where housing values rose by more than 1% in February. Similarly, regional markets have been somewhat insulated to slowing growth conditions, with five of the six rest-of-state regions continuing to record monthly gains in excess of 1.2%.”

Stay safe and have a great month.

Regards

Dean O’Brien

We sell more.

A snapshot of last months sales.

Average sale price.

Sale price.

High.

Low.

$817,267

$1.8M

$360K

Number of suburbs sold in.

22

Sale Price

Address

Suburb

74 Begonia Avenue

Bayswater

3

1

1

$840,000

8 Verona Court

Bayswater

4

2

2

$1,350,000

15/279-287 Bayswater Road

Bayswater North

3

2

2

$740,000

59 Scenic Drive

Beaconsfield

4

2

2

$970,000

11 Armstrong Road

Beaconsfield Upper

4

2

0

$1,300,000

15 Coniston Avenue

Berwick

3

1

1

$615,000

39 Eucumbene Drive

Berwick

5

4

2

$1,200,000

9 Ami Court

Berwick

4

2

2

$852,000

63 Earlsfield Drive

Berwick

3

2

2

$781,000

13 Bournevale Drive

Berwick

4

2

2

$1,000,000

10 Bermerale Court

Berwick

4

2

2

$820,000

62 Edgbaston Circuit

Berwick

4

0

0

$1,000,000

1C Woodvale Road

Boronia

3

2

2

$730,000

40 Landscape Drive

Boronia

3

2

2

$883,000

23 Limeburner Grove

Botanic Ridge

4

3

2

$1,255,000

14 Invermay Way

Clyde

4

2

2

$700,000

33 Eliston Avenue

Clyde

4

2

3

$1,065,000

43 Walhallow Drive

Clyde North

5

2

2

$958,000

26 Salim Way

Clyde North

3

2

2

$755,000

We sell more.

Address

Suburb

52 Walhallow Drive

Clyde North

4

2

2

$720,000

33 Mernoo Avenue

Clyde North

4

2

2

$935,000

20 Snead Boulevard

Cranbourne

4

2

2

$1,000,000

8 Mayune Court

Cranbourne

3

2

2

$670,000

3 Satin Street

Cranbourne

4

2

2

$831,000

11 Dunbar Avenue

Cranbourne

3

1

1

$605,000

15 Valepark Crescent

Cranbourne

3

1

0

$682,000

1 Staunton Walk

Cranbourne East

3

2

2

$632,000

44 Challenger Circuit

Cranbourne East

4

2

2

$726,000

10 Dartnell Street

Cranbourne East

3

2

2

$733,000

12 Josephine Avenue

Cranbourne North

4

2

2

$750,000

11 Hindmarsh Court

Cranbourne North

22 Charlbury Crescent

Cranbourne North

4

2

2

$827,000

8 Plenty Way

Cranbourne North

4

3

2

$660,000

12 Banyalla Drive

Cranbourne West

6

3

2

$767,000

78 City Vista Circuit

Cranbourne West

2

1

1

$500,000

83 Morningside Boulevard

Cranbourne West

3

2

2

$646,750

28 Browns Road

Devon Meadows

4

2

8

$1,822,000

4/8 Monteith Crescent

Endeavour Hills

3

1

2

$615,000

1/32 Hutton Avenue

Ferntree Gully

3

2

1

$710,000

Sale Price

$360,000

Land

We sell more.

Address

Sale Price

Suburb

24/4 Paydon Way

Hampton Park

3

1

2

$550,000

2/38 Gardner Street

Koo Wee Rup

2

1

1

$505,000

2/35b Moody Street

Koo Wee Rup

2

1

1

$480,000

3 Charles Street

Koo Wee Rup

3

1

2

$650,000

17 Boldrewood Place

Lynbrook

4

2

2

$750,000

31A Fernwood Road

Narre Warren

2

2

1

$538,000

15 Springfield Drive

Narre Warren

4

2

2

$810,000

40 Eureka Crescent

Narre Warren South

4

2

2

$710,000

5 Abercairn Drive

Narre Warren South

3

2

2

$780,000

1/19 Cotswold Crescent

Officer

4

2

2

$665,000

8 Sabina Road

Officer

4

2

2

$720,000

1 Kooyong Close

Officer

0

0

0

$820,000

14 Atherton Avenue

Officer South

4

2

2

$935,000

40 Bellbird Close

Pakenham

21 Kilburn Place

Pakenham

3

2

2

$590,000

18 Elderberry Way

Pakenham

4

2

2

$680,000

10 Colley Street

Pearcedale

4

2

3

$970,000

87 Bloom Avenue

Wantirna South

3

2

2

$965,000

21B Avoca Way

Wantirna South

4

3

2

$1,395,000

46 Alfred Road

Werribee

4

2

2

$650,000

$1,050,000

Land

We lease more.

A snapshot of last months leases.

Average weekly rent.

$450

Average monthly rent.

$1,956

Address

Number of suburbs leased in.

Rental price p/w.

High

Low

$750

$320 Leased price p/w

Suburb

26 Leased price p/m

2/5 Wiltshire Avenue

Bayswater

2

1

1

$410

$1,782

48 Victoria Road

Bayswater

3

1

2

$460

$1,999

15/241 Soldiers Road

Beaconsfield

4

4

2

$500

$2,173

3/2-4 Edinburgh Drive

Beaconsfield

3

2

1

$410

$1,782

402 Rix Road

Beaconsfield

4

2

1

$435

$1,890

9 Timberside Drive

Beaconsfield

4

2

2

$550

$2,390

13 Shaftsbury Avenue

Berwick

4

2

2

$445

$1,934

15 Manorwood Way

Berwick

4

2

2

$485

$2,107

2 Mandalay Court

Berwick

4

2

2

$520

$2,260

21 Dempster Way

Berwick

4

2

2

$500

$2,173

42 Jack William Way

Berwick

4

2

2

$500

$2,173

443 Centre Road

Berwick

3

1

2

$420

$1,825

1/271 Boronia Road

Boronia

3

2

2

$525

$2,281

3/46 Paton Crescent

Boronia

4

3

2

$600

$2,607

Unit 101/198B Dorset Road

Boronia

2

1

1

$370

$1,608

7 Powlett Drive

Clyde

4

2

2

$470

$2,042

24 Abundance Circuit

Clyde

4

2

2

$420

$1,825

31 (Lot 1015) Keskadale Way

Clyde

4

2

2

$425

$1,847

5 Waler Circuit

Clyde North

4

2

2

$490

$2,129

We lease more.

Address

Leased price p/w

Suburb

Leased price p/m

24 Ayrshire Way

Clyde North

4

2

2

$460

$1,999

12 Harry Street

Cranbourne

3

1

1

$385

$1,673

52 Aleppo Place

Cranbourne

1

1

1

$320

$1,390

13 Artfield Street

Cranbourne East

3

2

1

$400

$1,738

3 Beauchamp Way

Cranbourne East

3

2

2

$400

$1,738

23 Botany Way

Cranbourne East

4

2

2

$430

$1,868

32 Ravenhurst Circuit

Cranbourne North

4

2

2

$465

$2,021

10 Tinara Court

Cranbourne North

3

2

2

$420

$1,825

11/7-9 Elizabeth Street

Cranbourne North

3

1

0

$330

$1,434

21 Elkedra Way

Cranbourne North

4

2

2

$490

$2,129

15 Hemingway Grove

Cranbourne West

4

2

2

$460

$1,999

18 Zebra Way

Cranbourne West

3

2

2

$420

$1,825

4/29 Wilma Avenue

Dandenong

2

1

1

$400

$1,738

42/35 David Street

Dandenong

2

2

1

$360

$1,564

65 McFees Road

Dandenong North

4

1

2

$460

$1,999

2/7 Bramwell Close

Endeavour Hills

2

1

1

$335

$1,456

13 Tunley Close

Endeavour Hills

4

1

2

$450

$1,955

5

2

6

$750

$3,259

53 George Chudleigh Drive Hallam 2/132 Fordholm Road

Hampton Park

2

1

2

$335

$1,456

6 Casuarina Court

Hampton Park

3

2

2

$430

$1,868

We lease more.

Address

Leased price p/w

Suburb

Leased price p/m

2/28 Coromandel Crescent

Knoxfield

4

2

2

$575

$2,499

6/1 Warrenwood Place

Langwarrin

2

1

1

$400

$1,738

2/30 Warrenwood Place

Langwarrin

2

1

1

$380

$1,651

34 Henry Lawson Drive

Lynbrook

4

2

2

$535

$2,325

18 Butternut Drive

Lyndhurst

3

2

1

$490

$2,129

2/481 - 483 Princes Hwy

Narre Warren

3

1

1

$400

$1,738

78 Prospect Hill Road

Narre Warren

3

1

2

$400

$1,738

9 Lucy Court

Narre Warren

4

2

2

$550

$2,390

97 Darling Way

Narre Warren

3

1

0

$385

$1,673

12 Columbia Road

Narre Warren

4

2

2

$500

$2,173

34 Abeckett Road

Narre Warren North

3

2

4

$540

$2,346

11 Janson Close

Narre Warren South

3

2

2

$450

$1,955

4 Rigby Court

Narre Warren South

3

2

2

$430

$1,868

15 Pioneer Way

Officer

3

2

2

$435

$1,890

7 Quirk Road

Pakenham

4

2

2

$430

$1,868

1 Butina Crescent

Pakenham

3

2

2

$400

$1,738

3 Wembley Circuit

Pakenham

3

2

2

$410

$1,782

8 Gorham Street

Pakenham

3

2

2

$460

$1,999

5 Oxford Close

Sunbury

3

2

1

$400

$1,738

4/7 Tyner Road

Wantirna South

3

2

2

$550

$2,390

Victorian real estate has biggest ever summer of sales as records tumble

Victoria’s red hot property market has delivered the biggest ever summer of sales, with a real estate record tumbling almost every day.

“So the market is absorbing stock quite well, and in the middle to outer suburbs in particular.”

More than 70 suburbs and towns now have a new top home price, and Melbourne’s median house sale soared to an unprecedented $1.125m, according to Real Estate Institute of Victoria data.

Auctioneer Paul Tzamalis, crowned the REIV senior auctioneer of the year for 2021 this week, said the booming conditions were driven by homesellers confidence in no more lockdowns.

Experts believe while the sizzling action will cool slightly in autumn, records will continue being smashed as buyers tune out the threat of rising interest rates as “white noise”.

We expect prices will continue to climb over the year, but that the rate of price growth will slow.

It cements this summer as the busiest on record for real estate, with the possibility more than 9500 auctions will have been called by the time the final hammer comes down on Sunday.

The previous hottest summer was in 2017-2018 when 7869 auctions led to 5444 sales.

REIV figures show the state has already notched 6128 sales at auction this summer, making it the biggest summer of sales on record too.

Institute president Adam Docking said huge numbers of sellers and buyers sidelined during lockdowns last year had effectively forced the combination of spring and summer property markets.

The result was an incredible 81 real estate records being broken at a rate of one every 26.5 hours in the biggest summer “in real estate history”.

“I think we have broken every record that there is,” Mr Docking said.

“Everyone knows where they stand,” he said.

Ray White Victoria chief executive Stephen Dullens said the end of most restrictions for real estate had also made for a more manageable situation for agents compared to post-lockdown markets, when only oneon-one inspections could be held, and the firm had needed to offer its staff resilience training to cope with market conditions and workloads.

Real Estate Buyers Agents Association of Australia president Cate Bakos said records would continue to fall as Melbourne began to catch up with regional Victorian areas that outpaced the big smoke in 2021.

Ms Bakos said Victoria’s booming summer property market had been buoyed by “disproportionately stupid number of auctions in December” and a “really enormous February”.

Buyers have taken no notice of speculation around interest rate rises this year.

“The only way they will have an effect is if they actually do go up,” Ms Bakos said.

Even the threat of rising interest rates was unlikely to stop buyers in the months ahead, though a more balanced autumn market was still likely as buyer and seller numbers became more balanced, he said.

“At this point buyers and sellers just think the talk about them is white noise.

“We might not necessarily keep breaking records, but we will have a very solid property market,” he said.

“I think we will continue to see listing activity at record levels in autumn.”

“It is unbreakable at the moment. We have people leaving the suburbs and cities to go interstate and to regional areas, and we still have records being broken.”

Barry Plant executive director Mike McCarthy said regional and peri-urban areas like the Mornington and Bellarine peninsulas, Geelong and Melbourne’s outer ‘burbs had gone “gangbusters”.

“But we’re still seeing through the industry, auction clearance rates in excess of 80 per cent,” Mr McCarthy said.

With more stock and some buyers likely to get caught up watching for property policies in the federal election expected in May, buying before back-to-back long weekends for Easter and Anzac Day would give buyers their best chance, she said.

“And with the return of internationals, winter could be a good time to sell,” Ms Bakos added.

Across the board she tipped affordable homes to be most in demand.

— with Emily Holgate

Article Source : www.realestate.com.au

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