BNCW October Report

October 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.

October report.

From our corporate director.

Dean O’Brien

50,000 lots of land and 50,000 jobs program Before we touch on the property news for the week, I would like to acknowledge the recent award our Carrums/Chelsea office received from Real Estate Institute of Victoria last week in winning the Large Residential Agency of the Year for 2021, it’s one of the most significant categories the REIV awards on and we are super proud of the team’s effort. While on the topic of acknowledgements, just this week OBrien opened its 33rd office in the Western Corridor of Melbourne in Ballarat Road Deer Park, we extend a big warm welcome to the team in Deer Park in joining our OBrien Family.

Now onto the news, Stuart Moseley the CEO for the Victorian Planning Authority released an update to the market, stating the planning minister has approved their strategic business plan for 2021/2022. The major project within the plan was the Fast-Track project which is designed to support economic recovery by delivering 50,000 lots of land and 50,000 jobs program. You’ll see streamlining of growth in major urban growth corridors being released over the coming months along with major established area projects like Arden and Preston Market which are earmarked to have their planning completed. The government also plans to create it’s 20-minute neighbourhoods in urban areas and will continue its work on the Small Lot Housing Code.

Looking at titled land released in 2020, the two western growth areas of Melton and Wyndham made up most of the new lots with 56% of lots released, with Casey/Cardinia at 19.4%, Hume/Mitchell at 13.4% and 11.3% within Whittlesea. However, the long term estimated supply of land remaining is the strongest in the City of Hume with 49 years remaining with next Melton with 38 years remaining.

The main news edits for this week: -The Chinese economy slows, but growth is still at annual rate of 4.9% for the September quarter.

-Aussie petrol prices hit a 13-year high.

-And CBA released its debit and credit card spending which indicates an increase in activity with spending up 18.6% for the week ending 22 October when compared to 2019 levels.

That’s all for this week, I’m Dean OBrien 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

We sell more.

A snapshot of last months sales.

Average sale price.

$793,558

Sale price.

High.

Number of suburbs sold in.

Low.

$1.9M

$280K

32

Address

Suburb

29 Stornoway Drive

Baxter

3

2

2

$722,000

1/5 Kenneth Ro Road

Bayswater

4

3

2

$900,000

9/241 Soldiers Road

Beaconsfield

4

3

2

$713,000

1/7 Railway Avenue 6

Beaconsfield

3

2

2

$681,000

Laburnum Street 7

Berwick

4

2

2

$1,060,000

Ava Close

Berwick

4

2

2

$806,000

7 Ackland Court

Berwick

4

3

3

$1,285,000

14 Wintersun Road 12

Berwick

4

2

2

$912,500

Casandra Court

Berwick

4

2

2

$1,300,000

2 Wembley Drive

Berwick

4

2

2

$995,000

21 Turner Street

Berwick

2

1

1

$580,000

34 Jamieson Way

Berwick

4

2

2

$760,000

1 Bayleaf Street

Berwick

4

2

2

$815,000

10 Augustus Drive

Berwick

3

1

1

$600,000

108 Moondarra Drive

Berwick

4

2

2

$950,000

36 Willslie Crescent

Berwick

4

2

2

$865,000

48 Warneet Road

Blind Bight

3

2

5

$740,000

Sale Price

We sell more.

Address

Sale Price

Suburb

3 Jordan Court Court

Boronia

3

1

2

$836,000

11 Ethel Stree Street

Boronia

4

3

5

$1,250,000

22A Olive Grov Grove

Boronia

4

3

2

$1,125,000

10 Parker Aven Avenue

Boronia

4

2

2

$1,134,250

14 Royal St Georges Chase

Botanic Ridge

4

2

2

$1,000,000

201/994 Toorak Road

Camberwell

1

1

1

$390,000

34 Pyrenees Road

Clyde

4

2

2

$769,000

9 Illawarra Avenue

Clyde

4

2

2

$637,500

52 Heybridge Street

Clyde

4

2

2

$745,250

16 Nunkeri Court

Clyde North

3

2

2

$550,000

15 Pamplona Way

Clyde North

4

2

2

$790,000

10 Clovis Avenue

Clyde North

4

2

2

$702,500

14 Keskadale Way

Clyde North

4

2

2

$671,000

8 Tia Street

Clyde North

3

2

2

$595,000

8 Pleven Rise

Clyde North

3

2

1

$579,000

2/3 Delmont Court

Cranbourne

2

2

1

$475,000

2/34 Circle Drive North

Cranbourne

2

2

1

$435,000

41A Lurline Street

Cranbourne

3

2

2

$547,000

21 Maddock Drive

Cranbourne East

3

2

2

$667,000

8 Hawkeseye Way

Cranbourne East

3

2

2

$749,999

We sell more.

Address

Suburb

Sale Price

7 Dianne Court

Cranbourne North

3

2

2

$685,000

12 Bartolo Court

Cranbourne North

4

2

3

$732,500

34 Broome Crescent

Cranbourne North

4

2

1

$640,000

2 Brentwood Drive

Cranbourne North

3

1

2

$615,000

3 Fiona Drive

Cranbourne South

3

1

8

$1,680,000

25 Breamlea Way

Cranbourne West

4

2

2

$630,000

35 Breamlea Way

Cranbourne West

4

2

2

$627,500

28 Spearwood Rise

Cranbourne West

4

2

2

$790,000

8 Acheron Close

Hallam

4

2

2

$740,000

11 Coromandel Crescent

Knoxfield

0

0

0

$945,000

14 Townley Road

Koo Wee Rup

4

2

2

$709,500

224 Rossiter Road

Koo Wee Rup

3

2

2

$630,000

6 Blackfish Drive

Koo Wee Rup

4

2

2

$685,000

11 Carnarvon Street

Lang Lang

2

2

2

$501,000

1 Elemes Court

Langwarrin

4

2

2

$985,000

12 Lang Road

Langwarrin

3

1

2

$700,000

21 Aspendale Place

Lyndhurst

4

2

2

$792,000

704/233 Collin Street

Melbourne

1

1

0

$280,000

129 Fleetwood Drive

Narre Warren

3

2

2

$770,000

31 Lansbury Drive

Narre Warren South

4

2

2

$720,000

We sell more.

Address

Suburb

Sale Price

5 Wearingford Avenue

Narre Warren South

4

2

2

$882,000

4 Floral Gardens

Narre Warren South

4

2

2

$1,015,000

54 Berwick Springs Promenade Narre Warren South

4

2

2

$963,000

14 Colonial Court

Narre Warren South

4

3

3

$1,700,000

11 Ezra Crescent

Officer

2

1

1

$495,000

30 Old Trafford Way

Officer

3

2

2

$585,000

3 Cliveden Drive

Officer

4

2

2

$900,000

30 Kooyong Close

Officer

3

2

2

$605,000

6 Britton Drive

Pakenham

4

2

2

$786,200

50 Simon Drive

Pakenham

3

2

2

$580,000

18 Avon River Way

Pakenham

4

2

2

$710,000

12 Irving Road Road

Pakenham

3

2

2

$670,000

137-145 Smiths Lane

Pearcedale

4

2

2

$1,900,000

1 Triumph Way

Skye

3

2

2

$735,000

14A Kimtara Court

Somerville

3

2

2

$652,000

3102/105 Clare Street

Southbank

1

1

0

$350,000

16 Summerhill Street

Tarneit

3

2

2

$560,000

139 South Gippsland Highway

Tooradin

3

2

2

$780,000

10 Ormiston Close

Wantirna

4

2

2

$1,300,000

We lease more.

A snapshot of last months leases.

Average weekly rent.

$449

Average monthly rent.

$1,951

Rental price p/w.

High

Number of suburbs leased in.

Low

$1,200 $350 Leased price p/w

26

Leased price p/m

Address

Suburb

2/19 Lance Road

Bayswater

2

1

1

$380

$1,651

21 Kevin Close

Beaconsfield

3

2

1

$420

$1,825

7 Fieldstone Boulevard

Beacosnfield

4

3

2

$580

$2,520

14 Eglinton Close

Berwick

3

2

2

$480

$2,086

23 Festival Terrace

Berwick

3

2

0

$380

$1,651

3 Nestle Retreat

Berwick

4

2

2

$550

$2,390

6 Astrid Court

Berwick

5

3

2

$750

$3,259

9 Sunhill Way

Berwick

5

3

4

$530

$2,173

6 Raneen Place

Berwick

3

2

2

$390

$1,695

36 Waterhouse Way

Bonatic Ridge

4

3

2

$820

$3,911

8 Roselyn Crescent

Boronia

3

2

1

$450

$1,955

102/290 Dorset Road

Boronia

2

1

1

$380

$1,651

12 Burn Nar Look Drive

Burwood

4

2

2

$630

$2,737

4 Enchantment Way

Clyde

4

2

2

$450

$1,955

13 Freiberger Grove

Clyde North

3

2

2

$400

$1,738

13 Ippudo Way

Clyde North

4

2

2

$475

$2,064

36 Bronnie Street

Clyde North

4

2

2

$470

$2,042

We lease more.

Address

Leased price Leased price p/w p/m

Suburb

2 Stonethwaite Lane

Clyde North

4

3

2

$440

$1,912

23 Ayredale Street

Clyde North

3

2

2

$450

$1,955

26a Selandra Boulevard

Clyde North

2

1

1

$370

$1,608

80 Picnic Avenue

Clyde North

3

2

2

$400

$1,738

49 Kilmarnock Way

Clyde North

3

2

1

$390

$1,695

2/106 Clairmont Ave

Cranbourne

3

2

2

$430

$1,868

3/56 Elizabeth Street

Cranbourne

2

1

1

$360

$1,564

42 Thomas Crescent

Cranbourne

3

1

2

$390

$1,695

59A Lamont Crescent

Cranbourne

3

2

1

$400

$1,738

45 Latrobe Street

Cranbourne

3

1

1

$350

$1,521

14 Rebecca Court

Cranbourne North

3

2

2

$440

$1,912

18 Tilden Rise

Cranbourne North

4

2

2

$470

$2,042

9 St Gwinear Lane

Cranbourne North

4

2

2

$460

$1,999

12 Glasson Way

Cranbourne West

4

3

2

$750

$3,259

16 Marnie Drive

Cranbourne West

3

1

2

$420

$1,825

4/46 Princes Highway

Dandenong

2

1

1

$305

$1,325

15 Harvey Place

Endeavour Hills

3

1

2

$390

$1,695

9 Giles Retreat

Endeavour Hills

3

2

2

$400

$1,738

We lease more.

Address

Leased price Leased price p/w p/m

Suburb

24 Deanswood Rd

Hampton Park

3

1

1

$360

$1,564

30 Verona Drive

Hampton Park

3

1

1

$420

$1,825

59A Meredith

Hanaton Park

3

2

1

$390

$1,695

12 Wayne Court

Heathmont

3

1

2

$475

$2,064

1/6 Lindfield Court

Knoxfield

3

1

1

$390

$1,695

1/16 Daniel Drive

Langwarrin

2

1

1

$380

$1,651

100 Wanda Street

Mulgrave

3

1

3

$455

$1,977

18 Cottswold Ave

Narre Warren

3

2

0

$400

$1,521

24 London Crescent

Narre Warren

3

2

2

$430

$1,868

5 Salignus Court

Narre Warren

4

2

1

$450

$1,955

13 Avebury Place

Officer

3

2

2

$360

$1,564

8 Hubbard Lane

Officer

3

2

1

$380

$1,651

14 Fairchild Place

Pakenham

3

2

1

$400

$1,738

4 Heysen Close

Rowville

4

2

2

$575

$2,498

2 Harewood Street

Tooradin

3

1

2

$500

$2,173

83 Mowbray Drive

Wantirna South

3

2

2

$520

$2,260

30 Minster Avenue

Warragul

4

2

2

$550

$2,390

Top 10 Melbourne suburbs earmarked for price growth

“Melbourne has experienced the deepest impact from lockdowns, and some Victorians have relocated interstate”.

“But there is also a wall of pent-up demand from frustrated homebuyers in Melbourne, and there will undoubtedly be a dramatic rebound in activity,” Mr Wargent said.

There may still be some opportunities for growth in certain areas. Image – Canva

• Melbourne has recently become the most locked down city in the world • Despite significant growth in the city, these suburbs have potential for growth • A dramatic rebound in activity is predicted after lockdown restrictions ease Australian housing is now worth more than $9 trillion. But even with the property market running hot, there are still opportunities to purchase in areas of Melbourne that can expect growth according to Pete Wargent co-founder of BuyersBuyers.

Melbourne has experienced significant price growth since the onset of the pandemic, as displayed by the SQM data below. This is despite recently becoming the most locked down city in the world.

Article Source: thepropertytribune.com.au

Melbourne real estate restrictions: Open homes set to return to Melbourne market Open homes are set to return to Melbourne’s real estate market from this Friday at 6pm, as the state reaches the 80 per cent vaccination milestone.

It comes after one of the busiest auction weeks this year, with 1405 homes going under the hammer last week – including the first on-site sales in the city since lockdown ended.

And activity will ramp up even more as metropolitan Melbourne and regional Victoria come together under the same rules again, with about 1663 auctions scheduled, according to realestate.com.au.

The government road map states up to 500 fully vaccinated people are now able to attend auctions and inspections, with densitylimits of one person per 4sq m indoors and one person per 2sq m outdoors.

The same rules apply for in-person home appraisals.

Mr Wargent believes that as lending is slowly restricted in the coming months, there will be a ripple effect with growth in suburbs where price growth has lagged.

“Affordability will begin to bite for houses in Melbourne’s top-performing suburbs next year, but there are still suburbs and pockets where prices have not blown off,” said Mr Wargent.

Mr Wargent believes that as restrictions ease in Melbourne housing stock levels will recover.

“We believe there will be more choice for buyers over the coming 3 to 6 months, but as the market for detached homes is still competitive buyers need to be clear about their strategy and be able to act decisively,” he said.

Real Estate Institute of Victoria president Adam Docking said it would allow more people to see properties in a shorter amount of time, helping agents meet surging demand.

“It’s another step to going almost completely back to normal,” he said.

“It will bring back the social aspect of the traditional spring market where the neighbour can come round and catch up and watch the auction too.”

Article Source : www.realestate.com.au

Our network.

32 offices and growing.

The quality of our service stems from the importance we place on the people behind our network.

Northern Victoria

Far North Queensland

Wangaratta

Cairns & Beaches

Sydenham Preston / Reservoir

Croydon Blackburn Vermont Wantirna

Corporate Oakleigh

Brighton

Werribee

Tecoma / Belgrave / Olinda

Endeavour Hills

Mentone

Narre Warren Keysborough

Berwick

Chelsea

Pakenham

Carrum Downs Cranbourne Frankston

Drouin Warragul

Langwarrin

Mornington Somerville

Hastings

Rye

Cowes

Wonthaggi

Results in this brochure achieved by highlighted offices.

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