BCNW November Report

November 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 well balanced yourself.

being within

November report.

From our corporate director.

Dean O’Brien

Further Steps To Re-Open Australia This week throughout the entire yearly calendar is commonly known as the most active when it comes to buying real estate and it’s the last week of the year before stock levels start to dramatically scale down for the Christmas festivities shutdown.

The big news this week has been the announcement from the Prime Minister that from December 1, international tourists, backpackers, refugees, migrants, students, skilled workers and up 28 other eligible visa holders can re-enter Australia. There are some conditions to entry, mainly being full vaccinated along with a negative covid swab. Quarantine rules won’t be applicable for Victoria and New South Wales however rules will apply for other States and Territories although Japanese and South Koreans are fully exempt.

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.

With that news Victoria and New South Wales are looking to reap the most of the economic benefits and with 200,000 people expected to arrive over the year that places more demand on sales and rental properties and prices are likely to increase unless we have more supply coming onto the market.

A big congratulations goes to Michelle on winning our $10,000 Home Improvements giveaway. Thank you to Harvey Norman and all our clients who received a rental or sale market appraisal.

For our next competition over the next four weeks we will be giving away one prize weekly to a family, It’s called our “Very Merry Giveaways, tune into our facebook pages on how to enter.

Regards, Dean O’Brien

We sell more.

A snapshot of last months sales.

Average sale price.

$813,973

Sale price.

High.

Low.

$1.8M

$360K

Number of suburbs sold in.

22

Sale Price

Address

Suburb

711/20 Shamrock Street

Abbotsford

2

2

1

$520,000

9 Sydney Road

Bayswater

4

2

1

$759,000

88 Sasses Avenue

Bayswater

3

1

2

$900,000

22 Pindari Drive

Bayswater

5

2

2

$1,060,000

48 Fieldstone Boulevard

Beaconsfield

4

2

2

$983,333

186 Beaconsfield-Emerald Road Beaconsfield

4

2

10

$625,000

42 Marlesford Crescent

Berwick

4

2

2

$955,000

8 Lawton Grove

Berwick

5

4

5

$1,385,000

6 Blake Street

Berwick

4

2

2

$763,100

42 Jack William Way

Berwick

4

2

2

$890,000

1/58 Palmerston Street

Berwick

3

2

1

$810,000

1/271 Boronia Road

Boronia

3

2

2

$815,000

2/37 Aubrey Grove

Boronia

3

2

1

$725,000

150 Dorset Road

Boronia

3

1

2

$700,000

24 Appletree Rise

Botanic Ridge

4

2

2

$852,000

33 Sandstone Drive

Botanic Ridge

4

2

2

$1,221,600

We sell more.

Address

Sale Price

Suburb

38 Macumba Drive

Clyde North

4

3

2

13 Coyote Road

Clyde North

33 Ellaroo Circuit

Clyde North

4

2

2

$775,000

1/4 Haven Court

Cranbourne

3

1

2

$505,000

18 Snead Boulevard

Cranbourne

4

3

2

$1,100,000

5 Coronet Court

Cranbourne

5

2

6

$1,200,000

52 Aleppo Place

Cranbourne

1

1

1

$360,000

12 Harry Street

Cranbourne

3

1

1

$601,500

2/4 Haven Court

Cranbourne

2

1

1

$450,000

8 Ferncroft Court

Cranbourne North

4

2

2

$685,000

23 Austin Street

Ferntree Gully

3

1

1

$904,000

53 George Chudleigh Drive

Hallam

5

2

6

$985,800

Unit 22/3 Young Road

Hallam

3

1

2

$600,000

28 Glendoon Road

Junction Village

3

1

2

$625,000

2/36 David Street

Knoxfield

3

2

2

$866,000

3/10 Valetta Crescent

Knoxfield

3

2

2

$791,000

16 Christie Street

Knoxfield

3

1

1

$953,000

5 Fox Road

Koo Wee Rup

4 Henry Street

Koo Wee Rup

3

1

2

$590,000

13 Grenaroff Walk

Lyndhurst

3

2

2

$586,000

16 Sharan Avenue

Mentone

3

1

2

$1,260,000

Land

$1,250,000 $595,000

Land

$425,000

We sell more.

Sale Price

Address

Suburb

16 Bradley Terrace

Narre Warren

18 Bosco Close

Narre Warren

3

1

2

$665,000

7 Moran Street

Narre Warren

2

2

0

$772,000

187 Maramba Drive

Narre Warren

3

2

2

$788,000

12 Columbia Road

Narre Warren

4

2

2

$790,000

1/11 Driftwood Court

Narre Warren

3

1

2

$640,000

15 Minton Walk

Narre Warren South

4

2

2

$760,000

3 Newcastle Drive

Officer

2

1

1

$490,000

28 Wonder Street

Officer

4

2

2

$680,000

16 Barbara Avenue

Officer

2

2

1

$539,000

11/108 Ahern Road

Pakenham

3

1

1

$440,000

37 Edenbrook Circuit

Pakenham

4

2

2

$660,000

3 Bastow Close

Pakenham

3

1

3

$581,000

105 Baxter-Tooradin Road

Pearcedale

3

1

2

$800,000

8 Telopea Street

Wantirna South

4

2

2

$1,190,000

42/61 Fraser Crescent

Wantirna South

2

1

1

$390,550

6 Blind Creek Lane

Wantirna South

4

3

2

$1,336,000

4 Mingana Road

Wantirna South

3

1

2

$950,000

609/404 Burwood Highway

Wantirna South

2

2

1

$490,000

Land

$480,000

We lease more.

A snapshot of last months leases.

Average weekly rent.

$436

Average monthly rent.

$1,897

Address

Rental price p/w.

High

Number of suburbs leased in.

Low

$580 $290 Leased price p/w

Suburb

19

Leased price p/m

13 Souhail Court

Berwick

4

2

0

$420

$1,825

14 Belmont Road

Berwick

4

3

2

$630

$2,738

17 Pioneer Court

Berwick

3

1

1

$400

$1,738

2/53 Collins Crescent

Berwick

2

1

1

$345

$1,499

24 Wembley Drive

Berwick

3

2

2

$450

$1,955

26 Sing Crescent

Berwick

4

2

2

$500

$2,173

26 St Boswells Avenue

Berwick

3

2

2

$440

$1,912

29 Blake Street

Berwick

4

2

2

$500

$2,173

3 Cowper Rise

Berwick

4

2

2

$580

$2,520

3 Neagle Mews

Berwick

3

2

2

$375

$1,629

12 Burnden Close

Berwick

4

2

2

$450

$1,955

19 Marija Crescent

Berwick

4

2

2

$480

$2,086

7 Hood Court

Berwick

3

1

2

$435

$1,890

3 Salmon Road

Boronia

3

2

2

$500

$2,173

14 Riverwood Drive

Botanic Ridge

3

2

2

$400

$1,738

16 Abundance Circuit

Clyde

4

2

2

$460

$1,999

We lease more.

Address

Leased price Leased price p/w p/m

Suburb

12 Cortajalla Avenue

Clyde North

4

2

2

$450

$1,955

25 Frankland Street

Clyde North

4

2

2

$435

$1,890

6 Fleuve Rise

Clyde North

3

2

2

$400

$1,738

13 Cochrane Street

Cranbourne

3

2

1

$430

$1,868

18 Ferndown Drive

Cranbourne

4

2

2

$420

$1,825

4/106 Clairmont Avenue

Cranbourne

4

2

2

$450

$1,955

8 Rawls Street

Cranbourne

4

2

2

$450

$1,955

18 Genevieve Circuit

Cranbourne East

4

2

2

$480

$2,086

52 Criterion Way

Cranbourne East

3

2

2

$430

$1,868

8 Sabel Drive

Cranbourne North

3

2

2

$480

$2,086

9 Hunter Court

Cranbourne North

3

1

2

$430

$1,868

14 Lucinda Lane

Cranbourne North

3

2

2

$450

$1,955

120 Mountainview

Cranbourne North

4

2

2

$500

$2,173

21 Ottawa Walk

Cranbourne West

3

2

2

$460

$1,999

16 Marnie Drive

Cranbourne West

3

1

2

$420

$1,825

1 Stable Court

Endeavour Hills

4

2

0

$450

$1,955

40 Aldridge Street

Endeavour Hills

4

1

2

$430

$1,868

We lease more.

Leased price Leased price p/w p/m

Address

Suburb

61 Aldridge Street

Endeavour Hills

4

1

2

$430

$1,868

79 McMahons Road

Frankston

3

1

2

$380

$1,651

34 Millswyn Avenue

Hampton Park

3

1

2

$380

$1,651

6 Beckington Crescent

Hampton Park

3

2

2

$390

$1,695

16 Tarella Street

Hampton Park

3

1

2

$360

$1,564

32 Browtop Road

Narre Warren

3

3

2

$450

$1,955

28 Fleetwood Drive

Narre Warren

3

2

2

$440

$1,912

9 Rahni Close

Narre Warren

3

2

2

$420

$1,825

1/2 Wara Close

Noble Park

3

1

1

$340

$1,477

8/13 Joy Parade

Noble Park

2

1

1

$290

$1,260

14 Millicent Parade

Officer

4

2

2

$440

$1,912

2B Whiteside Road

Officer

3

2

2

$475

$2,064

31 Lexington Crescent

Officer

$380

$1,651

41 Park Orchard Drive

Pakenham

3

1

1

$350

$1,521

1 Ingrid Street

Scoreby

3

1

2

$420

$1,825

8 Kenross Court

Wantirna

4

2

2

$470

$2,042

14 Jacaranda Road

Wheelers Hill

4

2

1

$480

$2,086

Land

PropTrack property market outlook: November 2021 Potential buyers have finally seen the uplift in new listings that they have been crying-out for after a record number of properties came onto the market across Australia’s capital cities in October, and hit a three-year high nationally.

Nonetheless, buyers will continue to face tough competition with demand for properties based on the number of views per listing on realestate.com.au reaching historic highs in October 2021.

Preliminary weekly count of sold properties

Properties are selling quicker that they were a year ago while the amount of stock available for sale has reduced dramatically. Nationally, the number of total listings remains 19.3% weaker than October 2020.

Prices have increased by more than 20% over the past 12 months, while sales volumes and the number of views per listings are also significantly higher.

While prices have continued to rise, the rate of growth has slowed from its peak earlier this year, a trend expected to continue.

The strong uplift in prices has been driven by record-low mortgage rates and people dedicating more of their income to housing, however, we believe is coming to the end of running its course.

The next few months will be interesting to watch. Assuming we continue to see high levels of new stock coming to the market there should be a better balance between demand and supply.

Furthermore, with lockdowns ending and social amenities reopening, along with domestic and international travel, we are likely to see people spending more of their income on these types of pursuits which may lead to less being spent on residential housing and further slowing of price growth.

How property is fairing across the country Let’s look at housing market conditions throughout the states and territories.

• • • • • • • •

New South Wales Victoria Queensland South Australia Western Australia Tasmania Northern Territory Australian Capital Territory

New South Wales Over the past year, dwelling prices in Sydney have increased by 26.6% while in regional NSW prices have increased at a faster pace, up 33.5%. House prices in both Sydney and regional NSW have risen at a much faster rate over the year than unit prices.

Days on site The median number of days on site for properties sold in October remained at an historic low of 24 days in Sydney and reached a new historic low of 31 days in regional NSW. Sydney’s Northern Beaches (17 days) and Eastern Suburbs (19 days) recorded the shortest days on site, while in regional NSW properties sold the fastest in the Illawarra (22 days) and Newcastle and Lake Macquarie (24 days).

Views per listing Average views per listing in Sydney fell by 2.7% in October as new listing volumes rose, while in regional NSW views per listing hit fresh historic highs. Sydney’s far west and Blue Mountains region recorded the largest increase in views per listing over the year in the capital, while in regional NSW the Capital region along with New England and North West recorded the largest increases.

Victoria Despite lengthy lockdowns, Melbourne property prices have increased by 13.3% over the past year, while in regional areas prices are 24.4% higher. House prices in Melbourne have increased at more than double the rate of units over the past year while in regional Victoria, price growth for houses has been around 5% higher than growth for units.

Sales volumes So far this year, preliminary monthly sales volumes in Melbourne are 55.4% higher than they were over the same period last year, while in regional Victoria sales volumes have grown by 38.5%. The west and south east of Melbourne have seen the biggest year-on-year increases in sales throughout the city while in regional Victoria, Ballarat and Latrobe-Gippsland recorded the largest increases.

Sales volumes During the first 10 months of 2021, preliminary monthly sales volumes show there were 43.1% more sales in Sydney than over the same period last year, and 29.8% more sales in regional NSW. Sydney’s inner west and outer south west suburbs recorded the biggest increase in sales, while in the regions, New England and North West, and Far West and Orana recorded the largest increases.

Article Source : www.realestate.com.au

Days on site The median days on site hit an historic low in both Melbourne (26 days) and regional Victoria (31 days). In Melbourne, the shortest days on site were recorded in the Mornington Peninsula (21 days) and outer eastern suburbs (23 days), while in regional Victoria the shortest days on site were in Geelong (25 days) and Bendigo (27 days).

Views per listing Despite a surge in new listings, views per listing reached new historic highs in both Melbourne and regional Victoria in October. Western and north west Melbourne suburbs have recorded largest year-on-year increases in views per listing while in regional Victoria, views were highest in Geelong and the Warrnambool and South West regions.

Queensland Over the 12 months to October, prices in Brisbane have risen by 19.1% compared to a 21.8% rise in regional Queensland. House prices in Brisbane have increased at three times the annual rate of units, while in regional Queensland house prices have risen only slightly faster than units.

Sales volumes Over the first 10 months of this year, preliminary monthly sales volumes in Brisbane are 46% higher than they were over the same period last year and in regional Queensland they are 51.6% higher. Ipswich and the inner city have recorded the largest increases in cumulative annual sales in Brisbane while Queensland’s Darling Downs and Maranoa region and Cairns recorded the largest sales uplift in regional areas.

Days on site The median days on site for properties sold in October reached an historic low of 25 days in Adelaide, and a new historic low of 61 days in regional areas. Properties in western Adelaide suburbs recorded the shortest days on site (22 days), while in the regions, properties in the south east were on site for the shortest at a median 49 days.

Views per listing Views per listing reached a new record high in both Adelaide and regional South Australia. In the capital, western and central suburbs recorded the large year-on-year increases, as well as the hills region.

Across the rest of the state, views per listing more than doubled in the south east region.

Western Australia Perth and regional WA has experienced a rapid deceleration in price growth over recent months however, prices are still 8% and 9.3% higher respectively over the past year. Unit price growth has outpaced that of houses in Perth while in regional WA house price growth has slightly outpaced that of units.

Sales volumes Preliminary monthly sales volumes in Perth for the first 10 months of this year are 47.5% higher than last year and in regional WA they are 54.6% higher. Perth’s south west and south east regions have recorded the largest year-on-year increases in sales while in regional WA, the southern Outback region and Wheat Belt recorded the greatest lift in

Days on site The median days on site in Brisbane increased from 35 to 38 days in October while regional Queensland remained unchanged at 53 days. In Brisbane, northern (30 days) and southern (31 days) suburbs had the shortest median days on site while in regional Queensland, the Gold Coast and Sunshine Coast had the shortest days on site, at 37 days.

Views per listing Both Brisbane and regional Queensland recorded a record number of views per listing in October. In Brisbane, the largest year-on-year increases in views per listing were achieved in Ipswich, Logan and Beaudesert while in regional Queensland, the Darling Downs and Maranoa region and Wide Bay recorded the largest increases.

South Australia Property prices have risen 18.3% in Adelaide over the past year, and by 13.8% in regional parts of the state. Unit prices have barely increased over the year in Adelaide with most of the growth coming from house prices.

Sales volumes So far this year, preliminary monthly sales volumes in Adelaide are 33.8% higher than over the same period last year, and 38.1% higher in regional areas. Adelaide’s central suburbs and hills region recorded the largest uplift in sales while in regional SA sales have risen by more than 50% in the Barossa, Yorke, Mid North and Outback regions.

Article Source : www.realestate.com.au

Days on site reached a record low of 59 days in Perth during October, while regional WA also hit an historic low of 94 days. In Perth, properties are spending the fewest days on site in Mandurah (50 days) while in regional WA days on site is lowest in the northern Outback region, at 90 days.

Views per listing The number of views per listing in Perth in October was 11.5% higher than a year earlier, while in regional WA views per listing reached an historic high.

Perth’s Mandurah and north west recorded the largest increases in views per listing over the past year, while Bunbury and the Wheat Belt recorded the greatest increases outside of Perth.

Tasmania The rapid price growth across Tasmania remains strong, even after annual growth of 32.5% in Hobart and 31.7% in regional Tasmania. Price growth for houses has outpaced units across all regions, however unit prices are still up more than 25% over the past year across Hobart and regional Tasmania.

Sales volumes So far this year, sales are 15.3% higher than last year in Hobart and 20.4% higher than last year in regional Tasmania.

Days on site The median days on site for properties sold in October was 58 days in Darwin and 110 days in regional NT, down from 63 days and 114 days respectively a year ago.

Views per listing Over the month there was a 1.7% decline in views per listing in Darwin however, they remained 9.5% higher year-on-year. In regional NT, views per listing fell by 9.7% over the month, remaining 4.4% higher year-on-year.

ACT Property prices in Canberra are continuing to climb and have increased by 29.6% over the past year, driven by a 36.2% rise in house prices. Unit prices have risen 14.7% over the year.

Sales volumes Year-to-date, the number of preliminary monthly sales has increased by 22.1% compared to the same period last year.

Days on site The median days on site for Hobart increased to 25 days in October, up from September’s historic low of 19 days. Across the rest of Tasmania, properties were on site for a median 38 days – the lowest on record.

Views per listing The number of views per listing in Hobart fell by 8.9% in October however, they have increased by 41.7% year-on-year. In regional Tasmania, views per listing rose by 4.2% last month to be 76.4% higher year-on-year.

Northern Territory Over the past few months, price growth in Darwin and the regions has slowed however, Darwin prices have still increased by 37.6% over the past year. Prices in regional areas have risen by 8.3% in the 12 months to October.

Sales volumes Sales volumes are much higher than a year ago with preliminary monthly sales over the first 10 months of this year 56.1% higher than the same period last year in Darwin and 91.3% higher than a year ago in the regions.

Days on site The median days on site for properties sold across the territory during October reached an historic low of 21 days, down from 25 days a year ago.

Views per listing The number of views per listing across the ACT reached a new historic high in October, to be 43.3% higher year-on-year.

Article Source : www.realestate.com.au

Should I sell off market?: Melbourne vendors wipe $30k from sale price in off-market campaigns: PropTrack This could result in it fetching more than $30,000 less on average.

“Sellers and agents both want to achieve the highest sale price possible, and we know that creating competition is the best way to accomplish that,” Mr Ryan said.

Ray White agent Robert Cincotta said offmarket sales had their perks.

Sellers who try to save on marketing costs by not advertising their home online could be shooting themselves in the foot, research shows.

Melbourne homeowners who sell their property off market could be short-changing themselves more than $30,000, research shows.

In regional Victoria the difference between onmarket and off-market sales is even more stark.

There, vendors make an average of 5.5 per cent less when they sell their most valuable asset off market, with those who advertise online generally reaping the biggest reward.

PropTrack’s Off-Market Sales Performance Report shows off-market sales of metropolitan Melbourne homes in 2019 and 2020 typically made 4 per cent less than those listed on realestate.com.au.

Moderately priced homes were the hardest hit by off-market campaigns, according to the data.

It showed off-market sales in locations with median prices between $250,000-$500,000 earned 3.7 per cent less than their listed counterparts.

PropTrack economist Paul Ryan said saving a few thousand dollars on marketing seemed like an attractive option to some vendors.

But those who did not advertise risked limiting buyer demand for their home.

They were a good option for those who did not want to draw attention to their property, which was often the case for high-profile or celebrity clients.

It also suited homeowners for whom the sale of their home was a sensitive matter.

But he said 80 per cent of the campaigns his agency handled were advertised online.

It was also common for vendors who started an off-market campaign to change their mind once they received positive feedback from the market regarding the price.

“The greatest fear of any vendor is the unknown and how (their home) is going to respond in the market,” Mr Cincotta said.

“But when we start to have a look at some of the offers that start to come through, it really gives the vendors a lot of confidence to go to market online.”

His agency ran an off-market campaign for a unit at 2/14 Illowa St, Malvern East.

The vendor received offers between $360,000-$380,000, but he said the property ultimately sold for $441,000 after it was listed online.

Article Source : www.realestate.com.au

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