BCNW JULY 2022 Report

July 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.

July report.

From our corporate director Dean O’Brien

To All, All eyes are on the Reverse Bank with another expected rate increase for august. With the rate of inflation at 6.1% as reported by the Australian Bureau of Statistics last week, there is concern from homeowners on how already tight households’ budgets will cope. The Wage Price Index was also released showing a rise of only 2.7% which is not keeping up with increased expenses and to make matters more challenging the temporary fuel excise cut comes to an end in September.

However, there was some good news released in early July from the Albanese Government announcing thousands of new places for the Home Guarantee Scheme. The program has been expanded with 35,000 new places to support first home buyers to purchase a home with as little as a five per cent deposit and 5,000 places to assist single parents with dependents to purchase a home with as little as a two per cent deposit.

Corelogic released its July Home Value Index on Monday and nationally prices for all dwellings were down 1.3% with Sydney topping the capital cities, falling the most with a 2.1% drop followed by Melbourne with a 1.3% drop.

For Regional Victoria values came off for the second consecutive month falling 0.7% for all dwellings, however units performed better posting a 0.2% gain, regional prices over a rolling 12 month are now sitting at a 12.7% increase. Melbourne and Sydney still remain 8% to 10% above normal stock levels whereas capital Adelaide and Brisbane are still down 30% of available listing which is helping pricing remain firm.

Looking at the rental market, rents in Melbourne again increased on an average of 8% for the month of July for combined dwellings. The signs for the rental market, are pointing towards further rental increases which is being caused by a lack of supply of properties, higher interest rates and the continual increase in overseas arrivals.

Economists are forecasting rental price significant gains, some up to 30% over the next 12 months. Renters unfortunately will be challenged equally as much as the prospective owner occupiers in today’s market.

That’s all for this month and remember the information provided is of a general nature you should always seek independent legal, financial, taxation or other advice in relation to your unique circumstances.

Regards Dean O’Brien

National Property Clock: +{out,t,�

Entries coloured orange indicate positiona change from last month. l Albany Bathurst

Brisbane Burnie/Devenport

Adelaide Adelaide Hills Albury Barossa Valley Broome Bunda berg Central Coast Alice Springs Karratha Cairns Mackay Darwin Mount Gambier Emerald Perth Esperance Rockhampton Geraldton Shepparton Gladstone S'thn Tablelands

Fraser Coast Hobart Kclgoor lie Newcastle Port Hedland Wodonga

Sunshine Coast Tamworth Toowoomba TownsviUe Whitsunday

Canberra Dubbo

Ipswich Launceston Mildura Sout.h West WA

Geelong lllawarra

•

PEAK OF MARKET • Approaching f Peak o Market

L

e RISING MARKET

•

f Start o Recovery

Starting to • Decline

Ballina/Byron Bay Coffs Harbou r Gold Coast

Melbourne Southern Highlands Sydney

DECLINING e MARKET

Approaching Bottom of Market •

BOTTOM OF MARKET

•

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National Property Clock: tAH(B

Entries coloured blue indicate positional change from last month.

Albany Bathurst Burnie/Devenpor t Geelong

Adelaide Ade laide Hills Ba rossa Valley Broome Bundaberg

Central Coast Hobart Kalgoorlie Newcastle Po r t Hedland

Albury Geraldton Pe r th Alice Springs Gladstone Rockhampton r Brisbane Frase Coast Shcpparton Ipsw ich Suns t1ine Coast Cairns Darwin Karratha Tamworth Dubbo N1ackay Townsville Emerald Mount Gambier Whitsunday Mt Gambier Esperance Wodonga Southern Tableands

Gold Coast Launceston Mildura South West WA

•

PEAK OF MARKET • Approac l1ing Peak of Ma rket

e RISING MARKET

L

Start of • Recovery

DECLINING e MARKET

Approaching Bottom of Market •

•

BOTTOM OF MARKET

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Sta r ting to • Decline

Ballina/Byron Bay Melbourne S'thn Highlands Coffs Harbour Sydney lllawarra Lismore

Canberra

We sell more.

A snapshot of last months sales.

Average sale price.

Sale price.

High.

Low.

$840,438

$1.4M

$405K

Address

Number of suburbs sold in.

28

Sale Price

Suburb

12 Terama Crescent

Bayswater

4

2

1

$930,000

10/279-287 Bayswater Road

Bayswater North

3

1

1

$640,000

6 Hammerwood Green

Beaconsfield

4

2

2

$750,000

21 Iceberg Road

Beaconsfield

4

2

1

$630,000

12 McKay Close

Berwick

4

2

2

$1,385,000

9 Hagen Drive

Berwick

3

2

3

$940,000

2 Leonard Avenue

Berwick

3

2

1

$751,000

3 Viewpoint Place

Berwick

4

2

2

$935,000

11 Piermont Drive

Berwick

4

2

2

$1,100,000

11 Belle Circuit

Berwick

4

2

2

$1,180,000

10 Hibberd Court

Berwick

4

3

3

$1,300,000

5 McDonald Crescent

Boronia

2

1

1

$616,500

7 Hazelwood Road

Boronia

3

2

2

$875,000

31 Thornbill Drive

Carrum Downs

3

2

2

$740,000

14 Remedy Drive

Clyde

4 Pump House Crescent

Clyde

4

2

2

$766,000

20 Graziers Crescent

Clyde North

4

2

2

$1,070,000

Land

$405,000

We sell more.

Address

Suburb

29 Deoro Parade

Clyde North

4

2

2

$940,000

27 Shimar Street

Clyde North

3

2

1

$635,000

291 South Gippsland Highway

Cranbourne

3

1

3

$631,000

3 Omeara Crescent

Cranbourne East

3

2

2

$640,000

9 Heathland Circuit

Cranbourne East

4

2

2

$600,000

100 Lineham Drive

Cranbourne East

3

2

2

$710,000

46 Abrus Circuit

Cranbourne North

3

2

2

$695,000

117 Lawless Drive

Cranbourne North

3

2

2

$660,000

58 Westmoreland Avenue

Cranbourne North

4

2

2

$820,000

12 Kulkami Way

Cranbourne West

4

2

2

$665,000

19 Marnie Drive

Cranbourne West

3

1

2

$549,861

17 Jaye Place

Cranbourne West

3

2

1

$600,000

174 Craig Road

Devon Meadows

4

4

3

$1,385,000

5 Wakeful Crescent

Drouin

4

2

2

$645,000

711 Burwood Highway

Ferntree Gully

3

1

2

$785,000

8 Cascade Way

Hallam

4

2

2

$700,000

34 Bailey Boulevard

Koo Wee Rup

3

2

2

$635,000

4 Virgona Way

Koo Wee Rup

4

2

2

$715,000

Sale Price

We sell more.

Address

Sale Price

Suburb

19 Clarks Road

Lang Lang

4

2

2

$795,000

18 Godwin Avenue

Narre Warren

4

2

2

$790,000

3 Manhattan Mews

Narre Warren

3

2

1

$585,000

6 Tuck Court

Narre Warren

4

2

2

$835,000

1 Cliveden Drive

Officer

4

3

2

$940,000

13 Flemington Rise

Officer

3

2

2

$573,500

4 Old Trafford Way

Officer

3

2

2

$618,222

31 Atherton Avenue

Officer South

5

3

2

$875,000

5 Edmund Street

Pakenham

4

2

2

$700,000

14/18-20 Ben Drive

Pakenham

3

1

2

$490,000

9 Tyrone Avenue

Pakenham

4

2

2

$690,000

113 Smiths Lane

Pearcedale

3

1

4

$1,400,000

6 Mashie Terrace

Sandhurst

5

3

2

$1,450,000

35 Park Lane

Somerville

3

2

11

$875,000

75 Arcadia Avenue

The Basin

2

1

3

$715,000

18 Makitti Close

Tooradin

5

3

2

$990,000

6 Edgeware Court

Wantirna

4

2

3

$1,305,000

42 Alderford Drive

Wantirna

4

2

2

$1,135,000

3 Libra Court

Wantirna South

6

3

2

$1,488,000

70 Gateshead Drive

Wantirna South

4

2

2

$950,000

We lease more.

A snapshot of last months leases.

Average weekly rent.

$480 Address

Average monthly rent.

$2,088

Number of suburbs leased in.

Rental price p/w.

High

Low

$750

$305

Suburb

26

Leased price p/w

Leased price p/m

3/3 Wallace Avenue

Bayswater

2

1

1

$370

$1,608

16 Iceberg Road

Beaconsfield

4

2

1

$480

$2,086

Unit 10/36 Peel Street

Berwick

3

3

2

$750

$3,259

1/137 Brisbane Street

Berwick

4

3

2

$720

$3,129

25 Kelburn Road

Berwick

3

2

2

$470

$2,042

26 Allunga Parade

Berwick

3

2

1

$450

$1,955

3 Bellevue Drive

Berwick

3

2

1

$460

$1,999

3 Dickson Mews

Berwick

4

2

2

$520

$2,260

43 Saul Avenue

Berwick

4

2

2

$500

$2,173

3/19 Tulip Crescent

Boronia

3

2

1

$520

$2,260

3 Jaffa Court

Boronia

6

4

1

$750

$3,259

204/8 Tulip Crescent

Boronia

2

1

1

$420

$1,825

31 Remedy Drive

Clyde

3

2

1

$420

$1,825

24 Apium Street

Clyde

4

2

2

$520

$2,260

43 Cherokee Parade

Clyde

4

2

2

$500

$2,173

198 St Germain Blvd

Clyde North

4

2

2

$520

$2,260

6 Bentley Lane

Clyde North

2

1

1

$335

$1,456

62 Evica Road

Clyde North

4

2

2

$550

$2,390

We lease more.

Address

Suburb

Leased price p/w

Leased price p/m

6 Bentley Lane

Clyde North

2

1

1

$335

$1,456

62 Evica Road

Clyde North

4

2

2

$550

$2,390

280 Heather Grove

Clyde North

4

2

3

$580

$2,520

15 Ventasso Street

Clyde North

4

2

2

$475

$2,064

1 Hurdle Street

Clyde North

3

2

1

$400

$1,738

140 Toner Road

Cora Lynn

3

1

1

$500

$2,173

3/106 Clairmont Ave

Cranbourne

3

2

2

$450

$1,955

7 Jamela Court

Cranbourne

3

2

2

$450

$1,955

12 Artfield Street

Cranbourne East

3

2

1

$390

$1,695

20 Perry Circuit

Cranbourne North

3

2

2

$450

$1,955

36 Arbourlea Boulevard

Cranbourne North

4

4

2

$700

$3,042

18 Tilden Rise

Cranbourne North

4

2

2

$495

$2,151

3/9 Cherryplum Courtt

Cranbourne North

2

1

1

$370

$1,608

54 Linden Tree Way

Cranbourne North

4

2

2

$500

$2,173

Unit 16/220-222 Monahans Road Cranbourne West

3

2

2

$400

$1,738

88 Hayton Park Blvd

Cranbourne West

2

2

2

$410

$1,782

53 Breens Road

Cranbourne West

4

2

2

$465

$2,021

7 Scotland Corcuit

Cranbourne West

4

2

2

$450

$1,955

16/220-222 Monahans Road

Cranbourne West

3

2

2

$400

$1,738

Unit 236/80 Cheltenham Road

Dandenong

1

1

1

$305

$1,325

17 Little Boy Rise

Endeavour Hills

3

1

2

$440

$1,912

118 James Cook Drive

Endeavour Hills

3

1

1

$460

$1,999

12 Charles Green Avenue

Endeavour Hills

4

2

4

$495

$2,151

We lease more.

Address

Leased price p/w

Suburb

Leased price p/m

44 Warana Drive

Hampton Park

3

2

2

$420

$1,825

44 Warana Drive

Hampton Park

3

2

2

$420

$1,825

1/530 Tooronga Road

Hawthorn East

2

2

1

$540

$2,346

4 Theresa Avenue

Langwarrin

3

1

1

$450

$1,955

2 Kialoa Court

Narre Warren

4

2

1

$430

$1,868

Unit 2/1 Minett Court

Narre Warren

3

2

2

$450

$1,955

32 Browtop Road

Narre Warren

3

2

2

$450

$1,955

12 Garnet Close

Narre Warren

3

2

4

$450

$1,955

7 Keys Court

Narre Warren

4

2

2

$480

$2,086

12 Garnet Close

Narre Warren

3

2

4

$450

$1,955

2/1 Minett Court

Narre Warren

3

2

2

$450

$1,955

24 Sweeney Drive

Narre Warren

3

1

1

$410

$1,782

19 William Clarke Wynd

Narre Warren South

3

2

2

$430

$1,868

10 Milne Walk Officer

Officer

2

2

1

$390

$1,695

9 Jomon Way

Officer

4

2

1

$430

$1,868

33 Koba Way

Officer

4

2

2

$550

$2,390

32 Ahern Road

Pakenham

3

1

2

$410

$1,782

21 Fraser Street

Richmond

2

2

1

$690

$2,998

30 Timbertop Drive

Rowville

4

2

2

$600

$2,607

10 Sullivan Drive Somerville

Somerville

3

2

1

$540

$2,346

22 Mannix Square

Wantirna

4

2

2

$550

$2,390

65 Lewis Road

Wantirna South

3

1

2

$380

$1,651

8 Maidenhair Drive

Warragul

5

3

2

$580

$2,520

How refinancing your home loan could help fund your dream renovation Thinking of selling up? If it’s been a while since your property had an update, and it’s starting to look more ragged than retro cool, you’re probably wondering how to make your home more sellable.

The good news is that as long as the foundations of your home are still in good shape, you might not need to knock down any walls or do a complete renovation to add considerable value.

Making your property feel bigger, brighter and more appealing to prospective buyers is often as easy as a lick of paint or swapping out fixtures and fittings for new ones.

On the other hand, knowing which improvements won't add value to your potential sale price means you can focus your time and money on those that do.

Ready to get started? Here are 13 easy ways to add value if you're thinking of selling your home.

1. Paint Old paint can make your home feel, well, old. But a fresh coat of paint can do wonders. It’ll make your home seem newer, cleaner and more contemporary – and it can easily be done on a tight budget.

If you’re willing to spend the time and energy painting your home yourself, you can get away with only paying for the paint, roller and brushes, drop cloths and other painting accessories. Alternatively, if your budget is a little more flexible, pay for the professionals to do it.

Just make sure to pick neutral colours that’ll stand the test of time or - at the very least - remove dated colours.

If your budget allows, you could give the exterior of your home a serious revamp by having it repainted.

If not, simply painting the front door and sprucing up the front garden, paving and fencing can rejuvenate your home’s facade.

2. Improve the garden and outdoor living areas A goody tidy may be all your garden and outdoor living space need.

Cut back overgrown trees, hedges, bushes and foliage, clear up dead leaves, get rid of weeds and dead plants, clean any paved areas, and add fresh mulch if needed.

Parts of your garden may also look better with a bit of work.

You could add new plants or flowers to bare patches, chuck in some garden features like sculptures or lighting, or even consider adding a deck or paved area for al fresco dining.

If you have a deck, give it a good scrub and apply a coat of oil to get it looking spick, span and sellable.

5. Give the floors some love Whether you’ve got floorboards, carpet, tiles or something else entirely, any kind of flooring does well with a nice spruce-up to entice buyers.

The same goes for any outdoor furniture, features like barbecues or fire pits, and outdoor dining areas.

3. Add storage Most buyers look for homes with ample storage. This means a good amount of cupboard, cabinet and wardrobe space, shelving, racks, and wall and door hooks.

Furthermore, clutter in general is one of the biggest turnoffs for many would-be buyers.

So if you’re lacking in storage, many of these are easy and relatively inexpensive to add to your home.

You can add wall shelving to rooms like the kitchen, laundry and living area, and hooks to pretty much any room in the home. If you have freestanding wardrobes in the bedrooms, consider changing them to built-ins – these are a big pull for buyers.

4. Improve the facade and landscaping Your home’s facade is likely the first thing prospective buyers will see, and we all know first impressions count.

Have your carpet professionally steam-cleaned to remove stains and get it back to its original glory. There’s only so much cleaning can do, though: if your carpet is too old and far-gone, and the stains are too stubborn, think about replacing it.

You could slot in new carpet or go for a different type of flooring, such as hardwood and the price is often less than you think.

Given their hardiness and attractiveness, hardwood floors are very popular among buyers.

If you have floorboards, have them resanded by a professional. If the budget doesn’t quite stretch that far, you can have them rebuffed and polished to get rid of any nicks.

article source ; www.realestate.com.au

6. Update the heating and cooling A quality heating and cooling system – be it gas or electric – is a huge draw for buyers. This is especially the case if you live in a particularly hot or cold climate.

8. Replace old handles and hardware If your kitchen is stuck in a timewarp, you may not necessarily need to replace the entire thing. By updating the handles and hardware on your cabinets and drawers, you can instantly make a kitchen feel much newer. You can also do this in your bathroom and laundry.

If you already have heating and cooling, consider its age and condition. You might want to upgrade it if it’s been in your home for a long time and isn’t running too well, as buyers will likely look for a modern system that’ll last them years.

Just make sure to go for a timeless hardware material, such as chrome or brass, which will appeal to a more diverse range of buyers. And try to match the style of your new hardware to your existing kitchen, bathroom or laundry – minimalist stainless steel pulls might look a little odd paired with a vintage-style kitchen.

And if your home doesn’t have heating and cooling, be sure to have a decent system installed before you take your property to market.

7. Update the blinds and curtains Blinds and curtains seen better days? It might be time to give them an update. Contemporary window treatments can make your whole home feel different and add value to your property.

9. Replace dated splashbacks Just like new handles and hardware, replacing the splashback in your kitchen cuts the need to do a full kitchen renovation.

It can also do a lot to make your kitchen look more modern, especially if you go for a classic splashback style like glass, stone, or neutral tiles laid in a timeless pattern.

If you really want to take your new splashback up a notch, and your kitchen is fortunate enough to look out onto a decent view, think about adding a window instead. Along with giving your splashback a significant upgrade, it’ll also welcome lots more light into the space.

If you’ve got old or thick, bulky curtains, think about replacing them with light, airy ones or even shutters or vertical blinds.

10. Replace older toilets and sinks Your bathroom may not need an entire revamp either.

Not only will these give your home a fresher, more modern vibe, but they’ll also let in more natural light – making your home appear airier, brighter and bigger.

As long as the bones are good, replacing your toilet, sink and/or vanity can make a world of difference to the overall look and feel of the space.

Go for replacements that are contemporary yet classic to ensure your bathroom is both fresh and timeless.

11. Replace the tapware Even the best-quality taps can look worn after time. A great way to quickly update your bathroom is to simply replace the taps, spout and mixer, and maybe even the showerhead while you’re at it.

Choose a style and material that work with your bathroom, even if the space is a little old.

You can also replicate this tip in other areas that utilise taps, including ensuites, the kitchen and laundry – we promise it’ll make any room feel more elevated.

12. Update old and broken light switches They’re such a small detail in your home that you may not even consider them, but light switches have a surprising impact on a property’s general vibe. If they’re old and starting to turn yellow after years of use, they can make a home seem more dated than it should.

On the other hand, new light switches can make a significant difference. Despite the fact that you’ll need a professional electrician to install them, they’re relatively inexpensive to buy, making them a great budget-friendly way to add value to your home.

article source ; www.realestate.com.au

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