Market Report Quarter 1 FY 19
It’s our way of saying Thank You!
Market summary - 12 Facts
60.5%
602
2%
Auction Clearance rate in Victoria.
properties sold by Max Brown Real Estate Group in FY18
Melbourne Metro vacancy rate. (REIV - September 2018)
(REIV - August 2018)
36
1.5%
$450
Average Days on market for properties in Melbourne Metro.
Reserve Bank cash rate.
Is the median weekly rent for Houses in Metropolitan Melbourne.
(REIV - September 2018)
(REIV - September 2018)
$420
$834,000
$604,000
Is the median weekly rent for units in Metropolitan Melbourne
Median House Price in Metropolitan Melbourne.
Median Unit Price in Metropolitan Melbourne.
(REIV - September 2018)
(REIV - September 2018)
(REIV - September 2018)
154
60
61
Properties sold and leased by Max Brown Real Estate Group for the September Quarter
Years of service from Max Brown Real Estate Group
amount of suburbs we sold in during FY18
PLEASE NOTE: While care has been taken to ensure that information contained is true and correct at the time of publication, changes after the time of publication may impact on the accuracy of this information and interested parties should rely on their own enquiries.
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Property Management: TIPS ON HOW TO MAXIMISE
YOUR RENTAL RETURN Whilst we believe the return you receive from your investment property is generally determined by how well it is managed, we have collated some other tips on how to maximise your rent and therefore return on your asset; Employ a competent property manager. Ensure your property manager understands the importance of a high performing asset. An efficient property manager with exceptional communication skills and the ability to handle the most complex of property management tasks is the key to maximising the return on your investment property. Renew and refresh before leasing your property we recommend refreshing the basics. A fresh coat of paint, new carpet, updated window furnishings, light fittings and garden maintenance can help increase the rent and demand for your property. A well maintained and presented property will appeal to a broader range of tenants, therefore increasing demand. Property maintenance. A deteriorating property can depreciate your asset as well as reduce the rent you receive. Like all property owners, you need to spend time and money on the property to ensure it is maintained. Your property manager will be able to assist with identifying any issues early before they become a bigger problem. Consider including garden maintenance as part of the lease to assist in keeping the property in top shape. Put yourself in the tenants ‘shoes’. Would you live in a house without air conditioning? In this day and age there are certain features such as cooling, a dishwasher and an outdoor entertaining area that tenants expect in a property. With many properties offering different ‘creature comforts’ yours, could be over looked if it doesn’t include such features. Our stringent processes and systems have stood the test of time and ensure you receive the maximum return on your investment property in the most professional manner possible. Call us today for any property management needs you may have.
For any property management needs please contact our team on 9095 8120 or rentals@maxbrown.com.au 131 MAX (131 629)
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Recently Leased - MORE WANTED!
LEASE PER WEEK $450 3 51A Timms Avenue KILSYTH
2
2
LEASE PER WEEK $375 3 1 31 Sugarloaf Drive CHIRNSIDE PARK
LEASE PER WEEK $410 3 99D Bellara Drive CROYDON
2
2
LEASE PER WEEK $380 2 1 1 9/249 Bayswater Road BAYSWATER NORTH
LEASE PER WEEK $360 2 4/311 Dorset Road BORONIA
1
2
LEASE PER WEEK $390 65 Darwin Road BORONIA
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1
2
1
Area snapshots:
Shire of Yarra Ranges SUMMARY
DWELLING STRUCTURES
Medium Density 7.3%
13,191
Ranges
(www.yarraranges.vic.gov.au).
Retail = Largest industry
MEDIAN HOUSE PRICES SUBURB
JUNE QTR 2018
Belgrave Chirnside Park Coldstream Healesville Kilsyth Lilydale Montrose Mooroolbark Mount Evelyn
$692,000 $775,000 $675,000 $612,000 $712,750 $712,000 $810,000 $721,000 $687,500
High Density 0.1%
46,949
Local Local Jobs in Shire oftheYarra businesses Yarra Ranges
SEPTEMBER QTR 2018
(www.economy.id.com.au/yarra-ranges)
Yarra Ranges covers approximately 2,500 square kilometres and stretches from the densely populated outer suburbs up into the surrounding foothills, agricultural valleys and forested areas of the Great Dividing Ranges. It is the largest area of any metropolitan council, with properties catering for all lifestyles from rural to apartments.
Separate House 91.9%
High Medium Density Density 0.8% QUARTERLY CHANGE ANNUAL CHANGE 22.4% (%) (%)
$759,000 $725,500 NA $602,000 Maroondah: $669,000 $727,525 $703,650 $690,000 $677,500
9.6% - 6.4% NA -1.6% -6.1% 2.2% -13.1% -4.3% -1.5%
13.5% 2.0% NA 16.4% 1.4% Separate2.8% House 8.5% 76.6% 3.6% 6.3%
Source: REIV Median Price is defined as the price of a property that falls in the middle of the total number of houses sold over a period of time.
PLACES WORTH VISITING Healesville Sanctuary
Redwood Forest
Healesville Sanctuary, formally known as the Sir Colin MacKenzie Sanctuary, is a zoo specialising in native Australian animals.
Probably one of the best kept secrets in our local area is the Redwood Forest and it’s only just a few kilometers outside of Warburton. The Californian Redwood trees were planted by the Knox: Board of Works in approximately 1930 following clearing of the original eucalypt forest.
High Medium Alfred Nicholas Memorial Density Gardens Density 0.8% 14.6% Walking trails wind through this scenic, wooded garden park with a boathouse, waterfalls & islands.
Separate House 83.7% 131 MAX (131 629)
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Recent Sales in:
Shire of Yarra Ranges
SOLD $1,075,000 3 89 Pine Road MOOROOLBARK
2
3
SOLD $1,390,000 6 3 30 The Wridgeway MOUNT EVELYN
SOLD $635,000 13 Conlan Way LILYDALE
3
2
2
SOLD $989,000 5 7 Defelice Place MOOROOLBARK
2
2
SOLD $980,000 4 17 Montrose Road MONTROSE
2
4
SOLD $725,000 9A Piccadilly Court KILSYTH
2
2
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Recent Sales in:
Shire of Yarra Ranges
SOLD $685,000 3 18 Wild Cherry Road MONTROSE
2
2
SOLD $592,000 3 1 41 Longfellow Road MOOROOLBARK
1
SOLD $715,000 3 26 Harrison Road MONTROSE
1
2
SOLD $905,000 4 316 Sheffield Road MONTROSE
2
2
SOLD $645,000 3 70 Killara Road COLDSTREAM
1
1
SOLD $690,000 6 Boxtree Road MONTROSE
2
1
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Recent Sales in:
Shire of Yarra Ranges
SOLD $908,000 57 Hunter Road WANDIN NORTH
-
-
SOLD $732,000 3 97 Billanook Way CHIRNSIDE PARK
2
2
SOLD $843,000 105 Summit Road LILYDALE
4
2
2
SOLD $640,000 3 359 Sheffield Road MONTROSE
1
-
SOLD $740,000 7a Brompton Court KILSYTH
4
2
2
SOLD $605,000 4 Vance Street LILYDALE
1
2
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Ranges Separate House 91.9%
Marketing snapshots:
City of Maroondah SUMMARY
DWELLING STRUCTURES
High Density 0.8%
Medium Density 22.4%
9,274
51,106
Local businesses
Local Jobs in Maroondah
Maroondah:
Manufacturing= Largest industry
(www.economy.id.com.au/maroondah)
The City of Maroondah enjoys a mix of new and established neighbourhoods. Often referred to as the ‘eastern suburbs primary and industrial centre’ combined with lush parks and tree lined streets, you can find fantastic employment, educational and lifestyle opportunities.
Separate House 76.6%
MEDIAN HOUSE PRICES
MEDIAN HOUSE PRICES
Bayswater North Croydon Croydon Hills Croydon North Croydon South Heathmont Ringwood Ringwood East Ringwood North Vermont Warranwood Wonga Park
JUNE QTR 2018
SEPTEMBER QTR 2018
QUARTERLY CHANGE Medium (%)
$721,000 $780,000 $822,300 $819,500 $820,000 $941,500 $860,000 $870,000 $925,000 $1,000,000 $990,000 $1,261,000
$690,500 $760,000 $930,000 $783,000 Knox: $758,000 $921,000 $832,650 $881,250 $936,000 $917,750 $920,550 $1,470,000
-2.6% 13.1% -4.5% -7.6% -2.2% -3.2% 1.3% 1.2% -8.2% -7.0% 16.6%
Density -4.2% 14.6%
High ANNUAL CHANGE Density (%) 0.8%3.4%
3.9% 8.7% 2.7% 3.5% 2.7% -2.7% Separate House-2.1% 83.7%-0.1% -4.4% 0.5% 0.8%
Source: REIV Median Price is defined as the price of a property that falls in the middle of the total number of houses sold over a period of time.
PLACES WORTH VISITING Inflatable World Ringwood
The Farm Yarra Valley
Aquanation
Home to the biggest indoor inflatable playgrounds in Australia. Great for Birthday Parties, Corporate Functions, Private Bookings, School Holiday Programs and General Fun for all Ages!
A premier wedding, event and conference venue. With local producers making beer and wine on site and our seasonal menu featuring vegetables from our kitchen garden and locally grown produce.
With waterslides, diving boards and a range of aquatic activities available, you will find something for the whole family to enjoy!
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Recent Sales in:
City of Maroondah
SOLD $710,000 88 Sellick Drive CROYDON
3
1
3
SOLD $580,000 1/1-3 Leigh Road CROYDON
3
1
3
SOLD $355,500 2 1/13-15 Hewish Road CROYDON
1
1
SOLD $580,000 3 8/180 Dorset Road CROYDON
1
2
SOLD CONTACT AGENT 3 13 Yarra Road CROYDON
1
1
SOLD $677,000 1E Joffre Street CROYDON
2
1
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Recent Sales in:
City of Maroondah
SOLD $786,000 3 47 Fortuna Avenue CROYDON
2
2
SOLD $1,050,500 4 6 Kiewa Close CROYDON HILLS
2
2
SOLD $665,000 3 2 2/119 Mount View Parade CROYDON
2
SOLD $851,501 29 Jarvis Avenue CROYDON
1
3
SOLD $855,000 5 2 91 Burdekin Drive BAYSWATER NORTH
1
SOLD $704,900 3 2 2 2/23 Gracedale Avenue RINGWOOD EAST
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Separate House 76.6%
Marketing snapshots:
City of Knox SUMMARY With ‘inner Melbourne’ constantly moving outwards, the City of Knox has become an attractive location for those needing easy access to the city but are wanting the benefits of a suburban lifestyle. With a great selection of employers, schools and properties, the City of Knox is a great place to call home!
DWELLING STRUCTURES
High Density 0.8%
Medium Density 14.6%
13,423
Local businesses
66,244 Local Jobs
Knox: (www.profile.id.com.au/knox)
Health care and social assistance= Largest industry
Separate House 83.7%
MEDIAN HOUSE PRICES MEDIAN HOUSE PRICES
JUNE QTR 2018
SEPTEMBER QTR 2018
QUARTERLY CHANGE (%)
ANNUAL CHANGE (%)
Bayswater
$783,000
$730,000
-6.8%
3.5%
Boronia
$780,500
$730,500
-6.3%
9.2% 2.5%
Ferntree Gully
$758,350
$715,000
-5.7%
Knoxfield
$882,500
$900,250
2.0%
4.1%
Lysterfield
$982,250
$795,000
-19.1%
7.9%
Rowville
$875,500
$810,000
-7.5%
2.3%
Scoresby
$805,500
$850,500
5.6%
-1.7%
The Basin
$686,500
$706,000
2.8%
7.4%
Wantirna
$965,000
$905,000
-6.2%
2.6%
$1,030,000
$1,055,000
2.4%
2.0%
$751,000
$683,250
-9.0%
4.1%
Wantirna South Upper Ferntree Gully
Source: REIV Median Price is defined as the price of a property that falls in the middle of the total number of houses sold over a period of time.
PLACES WORTH VISITING Caribbean Gardens
Chesterfield Farm
Lysterfield Park
Caribbean Gardens is known for its market with a number of varied stalls and vendors, plus mini golf, a train and playgrounds all in one spot, making it the perfect family day out!
Chesterfield Farm is an historical farm situated in the heart of Scoresby, now operating as a tourist/ children’s farm.
Lysterfield park is a great place for mountain biking with over 20kms or courses and trails. If you’re not a keen rider, then the walking tracks, picnic areas and lake provide the perfect spot for a gathering with family and friends.
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Recent Sales in:
City of Knox
SOLD $805,000 3 11 Unavale Crescent BORONIA
1
2
SOLD $429,000 2 3/180 Boronia Road BORONIA
1
1
SOLD $743,000 3 1/8 Girdwood Road BORONIA
2
2
SOLD $429,000 2 5/180 Boronia Road BORONIA
1
1
SOLD $424,000 2 10/180 Boronia Road BORONIA
1
1
SOLD $424,000 2 13/180 Boronia Road BORONIA
1
1
131 MAX (131 629)
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Helping your children prepare to move house A lot of factors can impact your children’s reaction to moving to a new house. Their age and complexity of the move are some key factors. For some they take it all within their stride and enjoy the change and for others it can create a sense of loss and confusion. Below are some tips on how to make your move a smooth transition for the whole family: Preparation - Preparation can be the key to helping your kids feel comfortable about moving house. Prior to the move explain that some things will be different, however the important things such as possessions and people will remain the same. If moving areas, spend a day in your new suburb exploring points of interest such as schools, parks and shops so your children can envisage what is ahead. If leaving loved ones behind begin Skype/Face time conversations before moving and continue this routine. Depending on their age, there are a range of books can that can help explain the moving process. Routine is important - Whilst the initial move can be a busy time, it is important to maintain a similar routine such as meal times, bed time and other commitments. It is recommended to use the same bedding for your children, so their sleeping routine is not interrupted. By keeping the kids in a familiar routine it can help minimise the impact of the change. Decentralised decision making - Where possible allow your kids to get involved in decision making. They could help decide on the furniture layout of their new room, updated paint colours or new sporting club. This gives them a sense of control and comfort. The grieving process - Moving to a new house can have a similar impact as the loss of a loved one. Expect your children to go through the stages of grief; denial, anger, bargaining and acceptance. Whilst at times you may feel like throwing a tantrum yourself, you can show them how to deal with emotions constructively. A positive attitude will give them confidence that all will be ok. Socialise - Get to know your neighbours and those in the street you and the kids can socialise with. If moving areas joining sporting clubs and local groups will assist in making new friendships. Do some research prior to see what hobbies and sports are popular in the area. Ensuring all family members are prepared for the move can make the transition and settling in a smoother process. To receive our weekly updates please visit www.maxbrown.com.au/theedge
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Testimonials / Feedback: ‘Easy to deal with. Fitted in with my
‘We were recommended by friends and the
requirements and timetable. Realistic sales
service met our expectations. Communication
campaign and kept in close contact at all
was well maintained, friendly relationship
times- thank you!’
allowed us to ask questions and made the
STEPHEN AVENUE, MONTROSE
process easy.’ LANCASTER PLACE, CHIRNSIDE PARK
‘Incredibly helpful and honest- couldn’t fault Max Brown Real Estate Group from buying to
‘Honest and competent- Kept us well informed
now using the rental department. Thank you
and advised us wisely. The property was sold
so much for all of your patience and guidance-
quickly, thank you!’
it makes this next chapter of our lives so much
ANDERSON STREET, LILYDALE
easier and exciting!’ IRVINE STREET, MOUNT EVELYN
‘Max Brown were very helpful, easy to work with and made the whole experience and
‘The service was excellent, and we were
enjoyable one. Excellent to work with. Thank
always kept in the loop- they were always
you so much! We are so glad we purchased our
available and well presented.’
property via Max Brown!’
SHELLEY AVENUE, KILSYTH
BLUE RIDGE DRIVE, MOOROOLBARK
‘Service more than met our expectations.
‘Our property was managed by Max Brown
Gave us confidence in the way the house was
and we were very impressed with their service
marketed and the regular contact to keep
so we decided to sell with them. Service
us updated gave us no reason to regret our
was above our expectations. Assisted us in
choice. The sale was fast and the process was
preparing the property for sale then kept us
open. We were totally happy with the whole
informed through the entire selling period. We
process and wouldn’t have done anything
were extremely impressed and happy with the
differently. Would recommend Max Brown to
managing of the sale of our property.’
friends in area wishing to sell.’
DEFELICE PLACE, MOOROOLBARK
COPELAND DRIVE, MONTROSE
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Rental Properties Wanted
Our experienced and dedicated team are skilled at delivering property management solutions. Call 131 MAX (131 629) to find out how.
Our team working for you
Antoinette Anketell
Joe Anto
Ken Beckwith
Jason Bertram
Andrew Clark
Hayden Connan
Sonya Haffenden
Peter Hess
Vanessa Hess
Colin Judd
Phil Kyatt
Tish Langley
Deb McLaren
James Reich
Allan Dowdell
Andy Edis
Tim Hollingworth Alan Holmes
Emma Jackson
Sue Jackson
Alan Lehmann
Mary Maatouk
Karen Martin
Brenan McGann
Lachlan Mitchell Kelley Moldovan
Anastasia O’Donohue
Sonja Pawsey
Kim Palmer
Jo Parker
Ann Robinson
Tony Smith
Christie Spargo
Georgia Spencer
Ruth Stafford
Tracey Silvester
Ray Donovan
Visit maxbrown.com.au/theedge to find out more. Kym Stinton
Sarah Steel
Wendy Steel
Tom Sweetman
Julie Tasker
Janine Taylor
Melissa Van Der Linden
Size Does Matter! Bigger Premises, Advanced Technology and a Growing Team all adds up to increasing efficiences when selling or leasing your home with Max Brown. Max Brown Real Estate Group Corporate Office, Croydon Sales Office & Property Management Office have relocated to Level 1, 39-41 Hewish Road Croydon.
Skilled and dedicated with a history of providing high quality real estate services to the community since 1958, Max Brown Real Estate Group is committed to delivering the best outcome to property owners, buyers and tenants.
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