BNCW August Report

August report.

Our purpose.

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

Our values.

Family.

Mutuality.

Realising potential.

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

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

Unlock your full potential, encourage and support your colleagues.

Embrace change.

Health and energy.

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

Work towards being well balanced within yourself.

August report.

From our corporate director.

Dean O’Brien

I'm a believer that money simply moves through different money markets trying to find its next piece of growth.

Today’s markets are much the same we have stockmarkets, bank deposits, property, government bonds and to a lesser degree superannuation and to high risk degree cryptocurrency.

So where is the money moving to right now? Global stock markets are unscathed due to high vaccination rates occurring across the globe which is the main reason why our aussie markets won’t see much change in the near term, in fact US sharemarkets rose to all-time highs just on Monday and we have seen Aussie travel stocks improve as NSW vaccines hit a milestone 6M dose mark and with the impending NSW Premier likely to announce potential easing restrictions in September later this week.

If we look at the property market, it is also strong and looks like it will remain that way with the low interest rate environment until at least 2024 as confirmed by the Reserve Bank. Then there is Bank Deposits and this market is interesting, about 30% of people today still believe that the bank is the best place for their money but the fact is the interest rates are lower than the inflation rate so therefore its safe but your wealth is locked in the reverse gear. People’s are saving are 12.5% up and considering many purchases of cars, tv's and home improvements have already happened we should expect real estate and stockmarket growth will continue to rise nicely over the next 2 to 3 years while interest rates remain as low as they are.

And lastly this graph below depicts the “Dry Argument” we are having with available properties on the market, without being able to conduct one on one inspections at the moment you can understand why listings are so low, the reality will be similar to 2020 that once we open we’ll see stock levels rise and people moving on rather quickly with real estate sales and listings.

This week, domain.com.au reported Melbourne’s auction clearance rate at 47%, which is quite different to other outlets that declared a clearance rate in the 90’s. The difference being the way withdrawn properties are treated, of course with covid some people are deciding to postpone the auction however some outlets are then recording those as unsold properties. The reality is some may pass in and some may sell, either method is not 100% correct but in this week’s case we only have 2 properties pass in.

The main edits this week are: So far 112 of the ASX 200 have reported earnings with declared dividends totalling $26.8 billion, up an amazing 93% on a year ago.

“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

We sell more.

A snapshot of last months sales.

Average sale price.

$766,587

Sale price.

High.

Low.

$1.4M

$257K

Number of suburbs sold in.

Address

Suburb

12 Kings College Drive

Bayswater

4

2

2

$1,360,000

9 Susan Street

Bayswater

3

1

2

$959,000

2/2 Branch Road

Bayswater North

4

3

2

$865,000

37 Blandford Crescent

Bayswater North

4

2

3

$983,599

38 Collins Crescent

Berwick

3

1

4

$580,000

22 Melzak Way

Berwick

3

1

1

$610,000

20 Warrawong Drive

Berwick

3

2

1

$765,000

5 Roundhay Court 21

Berwick

4

2

3

$1,025,000

St Annes Crescent 7

Berwick

4

2

2

$1,035,000

Kerry Close

Berwick

4

2

2

$1,352,000

2 Damar Avenue

Boronia

2

1

1

$638,000

13 Wells Avenue

Boronia

4

2

1

$795,000

7 Janville Street

Boronia

3

1

2

$806,500

8 Roselyn Crescent

Boronia

3

1

2

$870,000

93 Coleman Road

Boronia

4

2

2

$905,000

9 Bradman Court

Boronia

3

1

2

$923,000

46 Pine Crescent

Boronia

4

1

1

$942,000

17 Cornflower Rise

Botanic Ridge

4

2

2

$740,000

31

Sale Price

We sell more.

Sale Price

Address

Suburb

31 Royal St Georges Chase

Botanic Ridge

3

2

1

$765,000

8 Carissa Drive

Botanic Ridge

4

2

2

$880,000

125 Station Creek Way

Botanic Ridge

4

3

2

$1,150,000

73 Settlers Run Boulevard

Botanic Ridge

4

3

2

$1,220,000

508/15 Foundation Boulevard 21

Burwood East

2

2

1

$600,000

Protea Street

Carrum Downs

3

1

1

$585,000

34 Pickerel Avenue

Clyde North

4

2

2

$715,000

51 Wallace Road

Cranbourne

2

1

1

$455,000

7 St Mellion Court

Cranbourne

4

2

2

$645,000

28 Brookland Greens Boulevard

Cranbourne

4

2

2

$665,000

51 Camms Road

Cranbourne

5

3

2

$720,000

8 Silvergum Place

Cranbourne

4

2

2

$768,000

21 Pipetrack Circuit

Cranbourne East

4

2

1

$545,000

2 Barham Way

Cranbourne East

3

2

2

$620,000

37 McAllister Drive

Cranbourne East

4

2

2

$670,000

10 Cedarbank Court

Cranbourne East

4

2

2

$726,000

18 Thunderbolt Drive

Cranbourne East

4

3

2

$821,000

10 Wilkiea Crescent

Cranbourne North

3

2

2

$653,000

36 Broome Crescent

Cranbourne North

4

2

3

$680,000

11 Fiona Drive

Cranbourne South

3

2

2

$1,400,000

7 Nerrena Rise

Cranbourne West

4

2

2

$615,000

71 Central Parkway

Cranbourne West

4

2

3

$635,000

Unit 4/56-58 Jesson Crescent

Dandenong

3

2

2

$567,500

We sell more.

Address

Sale Price

Suburb

2 Heywood Close

Dandenong North

3

2

2

$901,000

2/70 Edina Road

Ferntree Gully

162 Cranbourne Road

Frankston

3

1

2

$537,500

9 Portview Avenue

Grantville

3

2

0

$257,500

12 Wayne Court

Heathmont

3

1

2

$993,000

3 Eycot Street

Kilsyth South

3

1

2

$765,000

28 Henry Street

Koo Wee Rup

3

1

0

$480,000

133 Moody Street

Koo Wee Rup

3

2

2

$610,000

138 Westernport Highway

Lang Lang

3

1

2

$835,000

3 Banfield Place

Lyndhurst

4

2

2

$690,000

11 Juncus Street

Narre Warren

3

2

2

$560,000

11 Edmonds Street

Narre Warren

3

2

2

$783,000

49 Tralee Circuit

Narre Warren

4

2

3

$1,040,000

4 Nana Walk

Narre Warren South

3

2

4

$630,000

2 Dewsbury Court

Narre Warren South

3

2

2

$705,000

18 Longfield Way

Narre Warren South

4

2

2

$768,000

75 Berwick Springs Promenade

Narre Warren South

4

2

2

$966,000

3/2 Trainor Court

Noble Park

2

1

1

$380,000

12/51 Leigh Drive

Pakenham

2

1

1

$365,000

9 Stanhope Place

Pakenham

4

2

2

$550,000

15 Merivale Close

Sandhurst

3

2

2

$891,000

62 Bayview Crescent

The Basin

3

2

4

$1,000,000

5 Kent Road

The Gurdies

3

1

2

$720,000

$380,000

Land

We lease more.

A snapshot of last months leases.

Average weekly rent.

Average monthly rent.

Rental price p/ w. High

$473

Low

$2,056 $1,450 $300

Address

Number of suburbs leased in.

Leased price p/w

Suburb

29

Leased price p/m

2A Burton

Bayswater

3

2

2

$420

$1,825

31 Sherman Drive

Bayswater North

3

2

2

$430

$1,868

47 Fieldstone Blvd

Beaconsfield

3

2

2

$500

$2,173

4 Shannon Way

Berwick

4

2

2

$550

$2,390

4/23 Farnborough Way

Berwick

3

2

2

$350

$1,521

5/23 Farnborough Way

Berwick

4

2

2

$400

$1,738

72 Jarryd Crescent

Berwick

4

2

2

$400

$1,738

24 Masquerade Road

Berwick

3

2

2

$450

$1,955

13 Embling Street

Berwick

4

2

2

$530

$2,303

21 Kuranda Crescent

Berwick

4

2

2

$550

$2,390

58 Grices Road

Berwick

4

2

2

$550

$2,390

19 Romeo Avenue

Berwick

4

2

2

$600

$2,607

18 Jack William Way

Berwick

3

2

2

$460

$1,999

1 Blind Bright Road

Blind Bright

3

1

4

$400

$1,738

210/163-165 Middleborough Road

Box Hill

1

1

1

$370

$1,608

44 Adriatic Circuit

Clyde

4

2

1

$355

$1,543

6 Bentley Lane

Clyde North

2

1

1

$335

$1,456

We lease more.

Address

Leased price Leased price p/w p/m

Suburb

10 Pleven Rise

Clyde North

3

2

1

$375

$1,629

15 Flemington Way

Clyde North

3

2

2

$400

$1,738

10 Mabillon Way

Clyde North

4

2

2

$440

$1,912

24 Ayrshire Way

Clyde North

4

2

2

$460

$1,999

24 Karabair Street

Clyde North

4

2

2

$500

$2,173

2/56 Elizabeth Street

Cranbourne

2

1

1

$324

$1,408

18 Violet Way

Cranbourne

3

2

2

$420

$1,825

22 Criterion Way

Cranbourne East

3

2

2

$430

$1,868

1/14 Cook Court

Cranbourne North

3

2

0

$400

$1,738

27 Burford Way

Cranbourne North

4

2

2

$460

$1,999

2 Flanagan Crescent

Cranbourne South

4

2

2

$500

$2,173

20 Roslyn Rd

Cranbourne South

3

2

3

$990

$4,302

10 Woodlands Rd

Cranbourne South

5

2

2

$1,200

$5,215

33 Faolan Way

Cranbourne West

3

2

1

$425

$1,847

Unit 804/80 Cheltenham Road

Dandenong

1

1

0

$300

$1,303

1/96 Berry Avenue

Edithvale

4

4

2

$600

$2,607

109/5-1 Nepean Highway

Elsterwick

2

2

1

$450

$1,955

4/8 Monteith Crescent

Endeavour Hills

3

1

2

$380

$1,651

3 Orkney Close

Endeavour Hills

4

2

2

$430

$1,868

104 Pound Road

Hampton Park

3

1

2

$375

$1,629

We lease more.

Address

Leased price Leased price p/w p/m

Suburb

245 Bay Road

Jam Jerrup

3

1

2

$450

$1,955

19B Anne Road

Knoxfield

3

2

1

$460

$1,999

28 Philip Road

Knoxfield

4

2

2

$570

$2,477

2/137 Moody Street

Koo Wee Rup

3

2

2

$360

$1,564

19 Julie Court

Langwarrin

3

2

2

$360

$1,564

110 Shotton Road

Mount Eliza

5

2

3

$1,450

$6,299

2/9 Azalea Court

Narre Warren

2

1

2

$370

$1,608

28 Richardson Street

Narre Warren

3

2

1

$370

$1,608

4 Cobblestone Avenue

Narre Warren

3

2

2

$390

$1,695

272 Golf Links Road

Narre Warren

3

2

2

$440

$1,912

80 Saxonwood Drive

Narre Warren

4

2

2

$465

$2,021

32 Terrapin Drive

Narre Warren South

4

2

2

$385

$1,673

8 Jade Walk

Officer

3

2

2

$360

$1,564

129 Mary Street

Officer

4

2

2

$420

$1,825

7 Addison Close

Officer

4

2

2

$440

$1,912

9 Kooyong Close

Officer

4

2

0

$500

$2,173

3/12 Renlik Court

Pakenham

3

1

2

$350

$1,521

6/40 Army Road

Pakenham

3

1

1

$340

$1,477

18 Parklane Way

Rowville

4

2

2

$420

$1,825

1/3 Sullivan Court

Wantirna

4

2

2

$575

$2,499

ANZ predicts 20 percent house price surge in Melbourne for 2021 The report identified growth in housing finance data and rising investor lending as likely to underpin continued rises but noted increasing issues with affordability would reduce the number of first-home buyers.

It also shows that even in the second half of August house prices were rising more than 0.25 per cent a week, about $2000 a week for an $800,000 property.

Melbourne’s property market has been tipped to surge 20 per cent in 2021.

Picture: Alex Coppel.

Melbourne house prices will surge 20 per cent across 2021, despite the city enduring four lockdowns since January 1, ANZ has predicted.

But Victoria’s peak real estate body has warned homeowners not to temper their expectations.

Real Estate Institute of Victoria vice president Adam Docking said while “achievable” he didn’t think the market would move that much.

“With the number of lockdowns that Victoria has had I wouldn’t be confident with the data they will have to project that,” Mr Docking said.

Noting that the repeated lockdowns had caused spikes and lulls in activity, he said there was certainly “strong and steady” growth occurring as buyers viewed the market shutdowns as a “hiccup in their quest to buy a property”.

After strong price growth so far this year, the big prediction from ANZ has been revised upwards from March when they tipped 16 per cent growth for the year. In an Australian housing report released yesterday the nation’s third biggest bank noted it was expecting growth to slow in the back end of the year.

But senior economist and report author Felicity Emmett said much of the growth had already happened, with the bank’s figures showing an average 1.6 per cent rise in prices every month this year — and a 1.8 per cent increase in July.

“We do acknowledge that there are downside risks from the current Delta wave, and there is a chance that prices could come in lower,” Ms Emmett said.

“But at the same time, there’s a chance that prices are a bit stronger than we think, given how strong the year has been.

18 Verene Ave, Templestowe Lower, sold more than $100,000 above expectations at an online auction last Saturday.

“A lot of people have bought and need to sell, or have sold and need to buy,” Mr Docking said.

“So there’s pressure on the buying public, and that’s almost exponentially increased by lockdowns. So we will see, and have seen, price growth when we have a snap opening.

“But 20 per cent, to me that’s just a figure. I don’t think anyone can project a percentage this year.”

Mr Docking also advised homeowners to be aware that high growth in outer suburbs and the Mornington Peninsula, driven by a rise in working from home, had not been replicated in equal measure around the city.

”222 Dromana Parade, Safety Beach, sold almost

$500,000 above reserve in an online auction last Sunday, despite going under the hammer more than three weeks into a lockdown.

The ANZ has tipped Melbourne’s growth to continue into 2022, when an about 8 per cent rise is likely to top every other capital — except Perth where there are similar expectations.

Article Source: www.realestate.com.au

Median land price surges $75k in one growth corridor, falls in others Oliver Hume figures show about 34 per cent of contracts were signed for blocks between 400449sq m in July, but the next most popular tranche was 350-399sq m in size – accounting for 15 per cent of sales.

First-home buyers remained one of the strongest market segments, but they are increasingly being forced to compete with investors – even in the state’s new housing estates.

Land estates in Melbourne’s southeast have had major increases in the median lot price as buyers target bigger blocks.

Land prices surged almost $75,000 for a typical block in one of Melbourne’s growth corridors in the past year.

“And that’s been helped by the lack of apartment completions, so it’s really only the green field housing market that’s flying,” he said.

Land prices have risen dramatically in many regional areas, outside of Geelong where the median block was slightly cheaper than 2020.

But buyers are still ahead of the same time in 2020 in many other areas, despite most block prices slowly following surging established home prices across the city.

Figures from Oliver Hume show the median price of a block of land around Melbourne rose $1000 to $324,000 from March to June but is $1000 below the same time in 2020.

In Casey the median leapt $74,833 to $419,833, while in Hume housing estates most buyers were paying $314,800 – about $14,000 less than they were a year ago.

Oliver Hume national head of research George Bougias said prices were rising broadly, but the more extreme lifts and falls represented shifts in demand for the size of a block of land.

“There is no doubt that prices are moving and edging higher,” Mr Bougias said. “And the rest of the year we will probably see prices continue to increase.”

He added that the market was still below its peak, set in early 2018, but buyers were still gravitating towards smaller lots. Which is why he was advising against raising prices.

“We are warning the sales teams about pushing prices too much,” Mr Bougias said.

In-fill estates like Intrapac’s Kinley development in Lilydale are also attracting high demand.

Developer Intrapac’s chief operating officer Max Shifman said land prices were also slowed by rising building costs and a supplies shortage. But buyer demand was still “insatiable” with many turning their back on working full time in the office, driving heavy inquiry even at currently sold-out estates.

“We have got over 100 new inquiries a week at Kinley (pictured) in Lilydale, so the number of people expressing interest there is just growing by the day,” Mr Shifman said.

They hope to bring a few hundred lots to market at the estate over the next 12 months, starting late this year.

Article Source: www.realestate.com.au

Estates in the Casey municipality, like the Orana master planned community in Clyde North launched just over a year ago, have been popular.

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