Half Year Report - 1 July - 31 Dec 2022

Suburb Report 3133.

(July - Dec 2022)

Shop 1, 580 Canterbury Road, Vermont 3133 | P 03 9087 1087 obre.com.au/vermont

Welcome to our "Property News" where real estate information is on With one of us, you the house. get all of us.

“

Welcome to 2023, with every new year, it brings both exciting opportunities and challenges and each year we set and re-set our dreams, our goals and create a plan how we can best navigate these opportunities and challenges.

Rachael Luo

Director/Licensed Estate Agent OBrien Real Estate Vermont AWARDS Number 1 Agent for Vermont South 2020-2021 Rate My Agent Top 10 Victorian Agent 2016-2017 with a National Franchise Group

In real estate there are always waves so it’s important to keep abreast of the market so you can best know how to surf through the waves. 2023 is going to prove no different to any other year, there are tailwinds and headwinds and it is likely to be a bit choppy with home prices initially until we can get a clear understanding of the intentions of the reserve bank on interest rates. CommBank is predicting rates will hit a ceiling soon with another 0.25% increase whereas the NAB predicts 0.50% with ANZ and Westpac predicting the maximum will be reached after another 0.75% of increases.

Last year we had 8 months of consecutive interest rate rises, which means that since May the average monthly repayment had increased by $834 a month based on a $500,000 mortgage.

Unemployment levels remain at historic lows and household savings are at record levels, which is playing a role in serviceability which helps to keep a lid on mortgage arrears, which should mean that distress property sellers coming onto the market should be limited.

Melbourne Metro declines in the Home Value Index over December fell 1.2%, on a 12 month rolling average Melbourne prices are now 8.1% down for all dwelling types. Regional Victoria has also had another decline similar to last month but easing a little to a fall of 0.7% in December. Regional Victoria now is 1.3% down over the last 12 months.

Looking at the rental market, rents in Metro Melbourne during December again increased, with this last month being just shy of 3%. In 2022 we saw 7 consecutive months of rental price growth, the strongest on record and that is likely to keep increasing into 2023. Increases in units in Melbourne are now sitting at 14.2% over the last 12 months and gross yields of units for investors looking in Regional Victoria now sits at a respectable 4.5%.

The property market is continuously changing, so it’s important to have a good team that are familiar with the local market. At OBrien Vermont, we have a dedicated team whose goal is to work with you to achieve your real estate goals. If you have any real estate needs, now or future, we would love to hear from you.

The OBrien Difference

Working together to make a difference.

Each of our agents makes a donation to the OBrien Foundation every time a property is sold.

Vermont South 3133 A snapshot of past 6 months' sales in Vermont South (July- Dec 2022)

Average sale price.

$1,416,500 Address

Sale price.

High.

Number of properties

Low.

$2.25m

$474k

sold.

61

Sale Price

Suburb

11 Highmont Drive

Vermont South

5

2

2

$1,740,000

463 Burwood Highway

Vermont South

3

2

2

$1,608,800

16 Charlnet Drive

Vermont South

4

2

2

$1,380,000

4 Stanley Road

Vermont South

4

2

2

$1,481,000

11 Torwood Drive

Vermont South

4

2

2

$1,453,000

308/5 Stanley Road

Vermont South

2

1

0

$643,000

104/5 Stanley Road

Vermont South

1

1

0

$474,000

11 Chablis Crescent

Vermont South

4

2

2

$1,350,000

8 Coonawarra Drive

Vermont South

4

2

2

$1,260,000

10 Mullens Road

Vermont South

3

2

2

$1,165,000

2 Parkleigh Court

Vermont South

4

2

2

$1,331,500

32 Wildwood Avenue

Vermont South

4

2

2

$1,235,000

30 Hanover Road

Vermont South

3

2

2

$1,100,000

5 Huskey Court

Vermont South

4

2

2

$1,190,000

15 Barossa Avenue

Vermont South

4

2

2

$1,415,000

313/5 Stanley Road

Vermont South

3

1

0

$1,115,500

38 Great Western Drive

Vermont South

3

2

1

$960,000

17 Stanley Road

Vermont South

4

2

1

$1,260,000

5A Adley Court

Vermont South

3

1

2

$732,500

4 Clendon Court

Vermont South

5

2

2

$1,810,000

18 Consort Avenue

Vermont South

3

2

2

$1,181,000

23 Livingstone Road

Vermont South

5

3

3

$1,650,000

25 Barossa Avenue

Vermont South

5

3

3

$1,600,000

Vermont South 3133 Address

Sale Price

Suburb

20 Talarno Avenue

Vermont South

4

2

2

$1,540,000

102/5 Stanley Road

Vermont South

3

1

0

$1,034,400

7 Beacon Street

Vermont South

4

2

2

$1,310,000

45 Hanover Road

Vermont South

4

3

2

$1,610,000

19 Moran Court

Vermont South

4

2

2

$1,360,000

96 Stanley Road

Vermont South

5

3

2

$1,800,000

66 Mullens Road

Vermont South

4

2

2

$1,250,000

10 Rutherglen Road

Vermont South

4

2

2

$1,292,000

32 George Road

Vermont South

3

1

1

$795,000

24 Lascelle Drive

Vermont South

3

2

0

$1,520,000

25 Coltain Street

Vermont South

4

2

2

$2,250,000

6/106 Terrara Road

Vermont South

3

2

2

$935,000

2 Eagle Court

Vermont South

5

3

2

$1,900,000

28 Mildara Street

Vermont South

4

3

3

$1,650,000

11 Hancock Street

Vermont South

4

2

2

$1,561,000

8/8 Saxonwood Drive

Vermont South

3

2

1

$727,000

9 Explorers Court

Vermont South

5

3

2

$1,650,000

9 Wildwood Avenue

Vermont South

3

2

2

$1,222,000

51 Mullens Road

Vermont South

4

3

2

$1,203,000

141 Terrara Road

Vermont South

4

2

2

$1,490,000

206 Hawthorn Road

Vermont South

4

2

2

$1,338,000

753 Highbury Road

Vermont South

4

2

3

$1,355,000

21 Saxonwood Drive

Vermont South

4

2

2

$1,075,000

6 Bundarra Court

Vermont South

4

2

2

$1,511,000

303A Hawthorn Road

Vermont South

3

2

2

$1,069,000

6 Canowindra Close

Vermont South

3

2

2

$1,353,000

19 Verona Street

Vermont South

4

2

2

$1,450,000

Vermont 3133 A snapshot of past 6 months' sales in Vermont (Jul - Dec 2022)

Average sale price.

$1,190,500 Address

Sale price.

High.

Low.

$2.33m

$530k

Number of properties sold.

88

Sale Price

Suburb

4 Liddle Way

Vermont

3

2

2

$1,025,000

6 Centre Road

Vermont

3

2

3

$1,620,000

39 Lusk Drive

Vermont

3

2

3

$1,030,000

9 Snowden Place

Vermont

3

1

2

$955,000

85 Centre Road

Vermont

3

2

2

$1,100,000

40 Halls Parade

Vermont

3

1

2

$1,180,000

208 Heatherdale Road

Vermont

4

3

2

$1,400,000

32 Morack Road

Vermont

4

2

3

$1,286,000

39 Timbertop Drive

Vermont

3

2

2

$1,140,000

23 Barbara Street

Vermont

4

1

1

$1,050,000

9 McClares Road

Vermont

4

3

2

$2,325,000

21A Nurlendi Road

Vermont

3

1

2

$1,010,000

391 Canterbury Road

Vermont

4

1

5

$1,201,000

17 Culbara Drive

Vermont

4

2

2

$1,280,000

83 Glenburnie Road

Vermont

4

2

2

$1,190,500

11 Karwitha Street

Vermont

3

1

2

$930,000

110 Jolimont Road

Vermont

3

1

1

$980,000

9 Blanche Drive

Vermont

3

1

2

$1,019,000

35 Carlinga Drive

Vermont

4

2

2

$1,150,000

60 Betula Avenue

Vermont

3

2

2

$1,772,000

21 Lusk Drive

Vermont

3

1

2

$900,000

3 Locksley Chase

Vermont

4

3

3

$1,502,000

23 Marleigh Street

Vermont

3

1

2

$1,186,000

Vermont 3133 Address

Suburb

Sale Price

92 Purches Street

Vermont

4

2

2

$1,307,000

692 Canterbury Road

Vermont

4

2

2

$1,188,000

3 Frank Street

Vermont

4

1

0

$1,090,000

428 Canterbury Road

Vermont

4

2

2

$1,260,000

150 Jolimont Road

Vermont

3

2

2

$1,198,888

3 Bradley Avenue

Vermont

3

1

2

$1,285,000

3 Tulkara Grove

Vermont

4

3

2

$1,570,000

1 Hayward Court

Vermont

4

2

2

$1,600,000

3 Grigg Avenue

Vermont

3

1

2

$1,152,000

96 Purches Street

Vermont

3

1

2

$999,000

6 Kooroora Court

Vermont

5

3

4

$1,550,000

2 Locksley Chase

Vermont

4

2

2

$1,428,000

1 Bradley Avenue

Vermont

4

1

1

$1,260,000

9 Beaumont Street

Vermont

2

1

0

$1,186,000

1/9 Park Close

Vermont

3

2

2

$980,000

13 Rahnston Court

Vermont

3

2

2

$1,101,500

108 Purches Street

Vermont

4

1

2

$1,155,000

23 Blanche Drive

Vermont

3

1

2

$1,061,500

2 Devlin Street

Vermont

3

2

2

$1,110,000

10 Nunkeri Street

Vermont

4

2

4

$2,011,000

28 Liddle Way

Vermont

4

2

2

$985,000

38 Blanche Drive

Vermont

3

2

3

$1,232,000

11 Rahnston Court

Vermont

5

3

3

$1,380,000

4 Narambi Drive

Vermont

4

2

2

$1,790,000

73 Betula Avenue

Vermont

3

1

2

$1,097,000

11 Kingsley Avenue

Vermont

3

1

2

$1,016,000

17 Lombard Road

Vermont

4

2

1

$1,438,000

6/11 View Road

Vermont

3

2

2

$980,000

34 McClares Road

Vermont

6

3

4

$1,585,000

20 Woodcrest Road

Vermont

4

2

2

$1,299,000

44 Lusk Drive

Vermont

4

2

2

$1,350,000

What our clients are saying...

25 Barossa Avenue, Vermont South We recently sold our house in Vermont South with the help of Rachael. I can not recommend her highly enough. She greatly assisted us in getting the house ready for sale as we had already moved to a rural property and weren't living locally anymore. She was able to help getting quotes and organising the relevant trades.

Rachael is a great communicator and keeps you informed every step of the way. She is honest and ethical - and very knowledgeable when it comes to the local market. We were very happy with the outcome - selling above our reserve - at a price that was a street record - which isn't easy in the current climate of rising interest rates.

Katharine.

1 Cavill Court, Vermont South We are very pleased with the manner in which OBrien Real Estate, led through the energetic efforts of Rachael Luo and Sam He, ran the sale process. Communication in the lead-up to the auction that our property was indeed garnering interest in the market gave us confidence to proceed with the auction rather than settling for private sale early. Then seeing the OBrien team in liaison with the multiple prospective clients in the crowd gave us confidence that the pre-auction interest would convert into strong bidding in the auction. We are happy with the outcome OBrien Vermont was able to achieve for us, and recommend them to anyone else in the local area seeking a fair outcome in the sale of their property.

Marko & Ana.

22 Salem Court, Vermont South Rachael held a very successful campaign for selling of our home. Her local knowledge and level of professionalism is very outstanding as we interviewed few local agents before we selected our agent. She worked very hard and always keep us updated throughout the whole campaign; great communication and negotiation skills that helped us achieved a great outcome. Her team had a great teamwork on the auction day and we really appreciate Racheal and her team for the sale of our home.

Eric.

428 Canterbury Road, Vermont It was a tough and emotional decision to sell our beautiful house which we've called home for the past 26 years but we couldn't of found a better agent than Rachael to take care of this for us.

Rachael is not only friendly and trustworthy, she is committed and dedicated and worked very hard to achieve a wonderful outcome for us. If you're looking to sell your house, you don't need to look any further than Rachael, she'll definitely won't let you down.

Eddie.

2 Locksley Chase, Vermont The best real estate agency I have ever dealt with. Rachael Luo is the best! She was thorough and professional and great to work with. She kept us apprised about available appointments and always let us know as soon as a new one came on the market. She was honest and forthright- no games. After dealing with several other agents in the Vermont area and being disappointed, we felt lucky to find Rachael Luo. Yuanyong.

3 Tulkara Grove, Vermont We achieved a fantastic result for the sale of our home with OBrien Real Estate Vermont. From our first meeting with Lumee and Rachael we were impressed with their professionalism and friendly nature. They provided great support through the whole process. Our home went to auction and Anthony was brilliant in achieving a price above our expectations. The whole team work so well together and we highly recommend them.

Craig.

How OBrien can maximise your sale price.

Process.

When considering which sales process to use, what we do is we evaluate the number of similar property listings currently on the market and then analyse this with the buyer demand that exists in the market at that given time. These indicators will help shape the sales process to take, whether it’s by way of an off-market sale, a private sale, closing date sale or by public auction, we’ll guide you on the best process to take that will maximise your selling price but ultimately that decision will rest with you.

Presentation.

Presentation is key, certainly if you can do everything possible to maximise the presentation of your property, it will mean buyers can then make a very quick assumption whether your home is for them based on how it presents, so by following some recommendations in presenting your home and creating that atmosphere which makes a great first impression you’ll definitely maximise your selling price.

Positioning.

Positioning is making sure that you engage an agent that has got really good market knowledge so they can position the property correctly in terms of where we substantiate price to be and also an agent that can negotiate on your behalf.

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Shop 1, 580 Canterbury Road, Vermont 3133 | P 03 9087 1087 obre.com.au/vermont