The Noel Jones Review - Gurry - Mooney

The

Review

April - September 2016

It is with great pleasure that we bring to you our second edition of The Noel Jones Review for 2016 - a chance for us to share our observations and keep you up to date with market trends.

Looking at 2016 sales, we have clearly noted that the volume of properties coming to market is considerably lower compared to 2015 which has limited the choice for buyers. However upon reflection, if you look at what has transpired this year - a Federal Election, talks of removing negative gearing creating fierce debate and the big four banks all changing their policy on lending to overseas buyers – it is fair to say there has been a lot of uncertainty.

Spring is now officially upon us and we anticipate a number of quality properties being offered which should add some momentum back to the million-dollar price segment. Our team is fortunate enough to be representing some exciting listings so ensure you follow us on Facebook or Instagram to keep up to date.

KEY POINTS FOR 2016 • Banks are no longer allowing foreign buyers with overseas income to apply for loans.

• Foreign buyers have been hit with a stamp duty increase ranging from 3-7% on top of the normal rate.

• ATO’s new tax ruling for property sales over $2,000,000 means that vendors must prove Australian residency or the buyer will be required to withold 10% of the total sales price and pay this to the ATO. A number of exciting things have been happening within our office, with the addition of two new members. Ingrid Ward has many years of local real estate experience and is wasting no time in helping people through the sales process and creating raving fans along the way. Nicole Scott also joins the team with a depth of local knowledge and ties within the community having bought and sold many homes. We are excited to have them both on board.

We would also like to recognise Michael Gurry for being awarded the Rising Star Award at the end of financial year Noel Jones Group Awards - a credit to his dedication and commitment to his clients.

Bianca Birnbauer was also recognised as Outstanding Business Development Manager for the second year in a row - well done Bianca!

If we can be of any assistance, please don’t hesitate to get in touch, The Noel Jones Mitcham Team

Blackburn

Blackburn North

Blackburn South

Houses - $950,000

Houses - $959,000

Units - $696,000

Units - $780,500

Burwood East

Houses - $1,180,000

Houses - $975,000

Units - $680,000

Units - $715,000

Donvale

Forest Hill

Houses - $1,070,000

Houses - $890,000

Units - $618,000

Units - $597,500

Mitcham

Area Watch Median Property Prices

Vermont South

Houses - $884,000

Houses - $1,060,000

Units - $625,000

Units - $725,000

Nunawading

Vermont

Houses - $898,500

Houses - $858,000

Units - $600,000

Units - $690,000 Source: realestate.com.au 1/9/16

5 Common Misconceptions About Selling Myth 1. Home styling is unnecessary Investing in the presentation of your home is vital for a successful sale.

A visually unappealing home that appears cluttered and unplanned can be very off-putting.

However, when your home is presented in the best possible light it will outshine the rest and will peak the interest of potential buyers. A small investment in professional styling will help your property reach its true potential and dramatically increase your chances of securing your ideal asking price.

Myth 2. You don’t need professional photos “A picture paints a thousand words.”

The biggest difference between professional and amateur photos is that the professional knows how to make something ordinary look spectacular.

They understand how the angle of the photo can make a space appear bigger and how the sizes and colours of objects impact a photo.

The difference between professionally taken and amateur photos is often abundantly clear in the final product. Potential buyers will not spend time looking at your listing without high quality pictures to catch their eye.

Myth 3. You can cut costs on advertising Advertising is the most important part of your sale campaign. While some believe that simply listing your property for sale on the internet is enough to secure a sale, research shows online and print advertising to be the winning combination. The key is to give yourself the best opportunity to secure the very best

buyer. Invest now and reap the rewards come settlement day.

Myth 4. Auctions cost more Some people believe that selling at auction is significantly more costly than other sale methods however, this is not the case. The only extra fee incurred is the cost of an auctioneer to perform the auction, which is usually only a couple of hundred dollars. Auctions also create certainty for sellers and a sense of urgency for buyers who know that the property is for sale within a set time frame.

Furthermore, less time on the market means less advertising fees!

Myth 5. Set your price high Many sellers think that it is best to set their asking price high and then reduce it if needed, however this can be detrimental to your sale campaign.

Setting the price too high can discourage potential buyers from inspecting your property and reduce buyer competition. You will achieve better results if you set an asking price that the market will respond to and adjust accordingly based on buyer feedback.

Recent Sales Our team take great pride in working with our clients to secure a successful sale of their most valuable asset.

The following properties are a selection of those sold by Noel Jones between April and September 2016.

BLACKBURN

BLACKBURN

33 LARCH STREET

1 LEONS COURT

4

1

2

4

2

2

708sqm land

739sqm land

$1,161,000

$1,217,000

BLACKBURN

BLACKBURN

2/55 STANLEY GROVE

12A BROOMHILL AVENUE

3

2

2

3

2

2

490sqm land

$978,000

$1,205,000

BLACKBURN

BLACKBURN

356 MIDDLEBOROUGH ROAD

1/162 SPRINGFIELD ROAD

3

1

4

3

2

1

746sqm land

$930,000

$775,000

BLACKBURN NORTH

BLACKBURN NORTH

37 DEVON DRIVE

15 WILTON STREET

4

2

1

4

2

1

654sqm land

746sqm land

$1,081,000

$1,260,000

BLACKBURN NORTH

BLACKBURN NORTH

9 LANE STREET

7 HARRIS STREET

3

1

1

4

2

2

583sqm land

634sqm land

$1,088,000

Undisclosed

BLACKBURN NORTH

BLACKBURN NORTH

17 MERLE STREET

14 DIANA DRIVE

2

2

1

3

1

2

754sqm land

603sqm land

$1,205,000

$965,000

BLACKBURN SOUTH

BLACKBURN SOUTH

4 HURTER STREET

8 CANORA STREET

3

1

3

3

1

1

682sqm land

696sqm land

$985,000

$1,020,000

BLACKBURN SOUTH

BLACKBURN SOUTH

3 JOBERT COURT

15 HUNTER DRIVE

4

2

2

4

2

1

537sqm land

590sqm land

Undisclosed

Undisclosed

BLACKBURN SOUTH

BLACKBURN SOUTH

7 PAULETTE COURT

2/8 BARKER STREET

3

3

1

4

2

2

531sqm land

266sqm land

$950,000

$1,175,000

BURWOOD EAST

BURWOOD EAST

12 TAINTON ROAD

17 RAMSEY STREET

3

1

2

5

3

2

598sqm land

647sqm land

$899,000

$1,080,000

DONVALE

DONVALE

28 CARBINE STREET

11/3-7 LESLIE STREET

4

3

2

2

2

2

745sqm land

444sqm land

$1,210,000

$875,000

DONVALE

DONVALE

32 EDWARD STREET

18 LIMASSOL COURT

5

4

4

4

2

2

4,694sqm land

4,007sqm land

Undisclosed

$1,250,000

DONVALE

DONVALE

2/7 HOPE AVENUE

5 EXFORD PLACE

3

1

2

3

2

2

535sqm land

853sqm land

Undisclosed

$955,000

FOREST HILL

FOREST HILL

6 OLYMPIC COURT

14 BOX AVENUE

3

1

3

4

2

2

652sqm land

653sqm land

Undisclosed

$950,000

FOREST HILL

FOREST HILL

80 MENIN ROAD

1/29 JOLIMONT ROAD

3

1

2

3

1

1

601sqm land

179sqm land

$886,000

$590,000

FOREST HILL

FOREST HILL

2/61 RANFURLIE COURT

79 VICKI STREET

3

2

2

4

2

2

211sqm land

538sqm land

$766,000

$860,000

MITCHAM

MITCHAM

2/78 PURCHES STREET

13 GLENBURNIE ROAD

4

4

2

2

2

2

543sqm land

$950,000

$1,200,000

MITCHAM

MITCHAM

14 DAMPIER GROVE

1 DALMOR AVENUE

3

1

1

4

2

1

597sqm land

611sqm land

$730,000

$1,150,000

MITCHAM

MITCHAM

10 NYMPH STREET

40 GLENBURNIE ROAD

4

2

1

3

1

1

706sqm land

1,489sqm land

$1,000,000

$1,475,000

NUNAWADING

NUNAWADING

3 LILIAN STREET

55 ASHWOOD DRIVE

4

2

1

3

1

2

787sqm land

664sqm land

Undisclosed

$920,000

NUNAWADING

NUNAWADING

1 ZANDER AVENUE

21 PATTERSON STREET

4

3

2

4

2

2

697sqm land

757sqm land

$1,155,000

$995,000

NUNAWADING

NUNAWADING

48 ESDALE STREET

12 HIGH STREET

3

2

4

4

3

733sqm land

655sqm land

$1,035,000

$927,500

-

VERMONT

VERMONT

23 MARLEIGH STREET

22 MCDONOUGH LANE

3

3

1

1

2

1

732sqm land

434sqm land

Undisclosed

Undisclosed

VERMONT

VERMONT

49 NURLENDI ROAD

11 BLANCHE DRIVE

4

2

2

2

1

494sqm land

348sqm land

$920,000

$599,999

VERMONT

VERMONT

60 BORONIA ROAD

2 ELLAD CLOSE

3

2

1

4

2

2

2

713sqm land

554sqm land

$858,000

$888,000

VERMONT SOUTH

VERMONT SOUTH

9 SHALIMAR COURT

86 STANLEY ROAD

4

4

1

2

2

2

651sqm land

$880,000

$1,375,000

VERMONT SOUTH

VERMONT SOUTH

4/604 BURWOOD HIGHWAY

2 BAROSSA AVENUE

3

3

2

1

2

2

447sqm land

$698,000

$810,000

VERMONT SOUTH

VERMONT SOUTH

200 HAWTHORN ROAD

6/335 HAWTHORN ROAD

3

3

2

2

2

2

645sqm land

247sqm land

$900,000

$768,000

PROPERTY

MANAGEMENT WITH NOEL JONES

We’ll help you to maximise your returns while minimising your risk.

$457

100

AVERAGE WEEKLY RENT APR - SEP 16

PROPERTIES LEASED APR - SEP 16

0.9%

CURRENT VACANCY RATE

RECENTLY LEASED ADDRESS

SUBURB

PRICE

ADDRESS

SUBURB

PRICE

43 Tyne Street 57 Wicklow Avenue 201-203 Hawthorn Road 206/3 Thiele Court 5/11 John Street 55 Salisbury Avenue 13 Waratah Avenue 35 Barbara Street 8/91 Surrey Road 1/25 Shady Grove 24 Irene Crescent 2/24 Jolimont Road

Box Hill North Croydon Vermont South Blackburn Nunawading Blackburn Burwood Vermont Blackburn North Nunawading Mitcham Forest Hill

$495 $460 $752 $490 $350 $720 $500 $390 $450 $550 $550 $390

64 Kitchener Street 2 McMurray Street 3/14 Purches Street 2/87 Albion Road 29 Kett Street 2 Haslemere Road 14 The Ridge

Box Hill South Nunawading Mitcham Box Hill Nunawading Mitcham Blackburn

$500 $430 $430 $680 $410 $660 $550

PROPERTY MANAGEMENT WITH NOEL JONES

COMPLIMENTARY KNOWLEDGE BOOK SMS ‘PM’ to 0416 907 823 to receive a copy.

www.noeljones.com.au

Knowledge Commitment Innovation Reliability

Manage your finances Your finances are the first thing to consider before taking the leap into the property market. You need to know what your current financial situation is in order to know what price range you can afford.

The best way to do this is to organise a pre-approval. A pre-approval will give you an idea of how much you can borrow and can also help speed up the home loan application process when you do find a property as the groundwork has been completed.

Shop for a home loan Finding a competitive home loan can make all the difference to your investment goals and it is not hard to do. Make it simple by taking advantage of the comparison websites that compare a range of different home loan products in the one place.

Besides choosing whether you want a fixed or variable rate, you’ve also got to work out which lender accommodates your needs. Each lender and loan has different rates, features and fees so it really does help to shop around before diving in.

4 things to consider if you are thinking of investing

Be mindful of ongoing costs You may have done extensive research and made up your mind that you can afford the property and the mortgage repayments, but have you included the ongoing costs in your budget?

Rates, insurance, maintenance and property management costs are just a few ongoing costs you will need to include in your budget. However, you can cut down on these costs by keeping the property in a good condition - regular maintenance is extremely important.

Research your location Location is one of the most important factors for investors as it can determine how successful an investment may be down the track.

In order to find the right area to suit your investment plan, you will need to conduct you own research. Research capital growth and rental yield data. Speak with as many professionals in the industry as you can to get an idea of where they think the market is heading.

OUR CLIENTS IN THEIR OWN WORDS “Michael has recently assisted us with a purchase of a new home and the sale of our current family home in Mitcham. We had met Michael through our local school community and appreciate the support Noel Jones provides to our children’s primary school.

At all times Mike was professional, realistic and responsive to any queries we had. We are delighted with the result of our sale and wholeheartedly recommend him (and the Noel Jones Mitcham team) to other prospective vendors.”

1 Irene Crescent, Mitcham

“Michael Gurry assisted with the sale of my unit in Mitcham during what was a difficult time for my family. I found Michael to be a very genuine and compassionate person, and very committed to achieving a good result for us. Michael was great at liaising with all parties involved in the sale, and helped to make a complicated situation a lot less stressful.”

1/21 McGhee Avenue, Mitcham

10 Nymph Street, Mitcham

Michael Gurry 0420 690 670

“Talk about cover all bases and go that extra two steps further, yes two steps, not just a step ahead.

During our campaign Michael was always available and also on the same wave length as you the vendor.

An idea, a phone call and it’s done. He would call in for a chat and a drink on his way home to make sure everything is on track and you were comfortable with the way everything was progressing. Behind every great man there is always a good women and Michael has Jackie and they are a team. When you select Noel Jones, and you would be silly not too, you get a dedicated team of people who are truly working to get the best result for you and you get a couple of extra friends in Mitcham.”

560 Mitcham Road Mitcham VIC 3132

Michael Gurry 0420 690 670 michael.gurry@noeljones.com.au Jackie Mooney 0401 137 901 jackie.mooney@noeljones.com.au

POSTAGE PAID AUSTRALIA