THE SPRING EDIT OCTOBER - NOVEMBER 2020
Selling this Spring 5 Reasons Why
Marketing Your Home Tips, Tools and Technology
Preparing Your Home For a Spring Sale
YOUR QUARTERLY MARKET UPDATE After facing a long period of time under restrictive Stage 4 lockdown conditions, Melbourne’s property market and its residents are well and truly ready to come out of hibernation! As we move into the Spring selling season and COVID-19 restrictions ease, we expect to see many sellers who delayed listing their homes to come onto the market.
Domain analyst, Dr Nicola Powell, noted that the pullback in listings since the announcement of Stage 4 restrictions has helped to support property prices. Whilst it has been an extremely challenging time for both businesses and families, REA Chief Economist, Nerida Conisbee, observed that the current activity shows that people see this lockdown ‘more as business as usual and that there is a timeframe for it and they will get through it’. Our experience after the first lockdown and what we have learnt from our industry peers in New Zealand tells us that we can expect to see an influx of property hitting the market once restrictions ease. We are encouraging those clients who would like to sell in Spring 2020 to prepare their properties as soon as possible and to contact their Fletchers agent to discuss a marketing strategy and approach, to take advantage of strong, pent up buyer demand. Buyer insights from both Domain and REA show that buyer activity has remained strong throughout the lockdown period. REA data showed a unique audience of 12 million users to their site in July 2020, whilst Domain reports an increase in enquiry across the board, year on year, showing that Domain users remain highly engaged. Both portals also report that buyers and sellers have embraced technology, with an increase in the use of digital tools such as video and 3D virtual tours to assist with transactions. In addition to changing the way that we transact real estate, the impact of the COVID-19 pandemic has forced us to assess our daily lives: from the way we work, to how we connect with each other, and even how we entertain ourselves. The way we use our homes has changed in 2020, and perhaps will continue to have an impact on our purchasing decisions and property wish lists. For example, the
proximity of our home to our workplace, childcare and schooling has traditionally been a crucial factor when it comes to purchasing a home. With the majority of Melburnians effectively working from home for most of 2020, it seems likely that this will be a feature of our working lives into the future. The Domain Group reports that behavioural searches reflect that home buyers are already seeking different home amenities. Prior to the pandemic, the use of “home office” as a search term was infrequent, but in the midst of the COVID-19 pandemic, it has soared in popularity - by 605 per cent in the June quarter compared to the March quarter. In the rental market, the REIV reports that Victoria’s vacancy rate rose to 2.9 per cent in July 2020. Regional Victoria has fared better than its metropolitan counterpart, with the weekly median rent for houses remaining steady for seven consecutive weeks. With search and enquiry levels also showing significant increases on the major portals despite the lockdown, we hope to see the increase in vacancy rate reverse as we move into the last quarter of the year. We encourage you to keep up-to-date on the market, wherever possible. If you would like a price estimate on your home, please get in touch with your local Fletchers agent to discuss. Despite the trying times that we have found ourselves in over the last six months, we do know that Victorians are a resilient group of people. At Fletchers, we would certainly like to support the community in any way that we can. We hope that you stay safe and well as we continue to navigate our way into the “new normal” of our lives.
Bradley Brown Director & CEO bradley.brown@fletchers.net.au
5 REASONS TO SELL YOUR PROPERTY THIS SPRING Spring is traditionally known as the key selling season of the year. Although the real estate landscape looks a lot different in 2020, we do know that the combination of an extended lockdown and extremely low stock levels will create an increase in both activity and competition.
of normality returned, overall enquiry in Victoria increased between June and July, indicating that buyer interest also returned. In fact, there was even an 11 per cent uplift in total site visits from Victoria in the first week of July. As Stage 4 restrictions ease, we have confidence that the market will bounce back once again. 3) Record Low Interest Rates
1) Improved Weather Conditions It could be easy to disregard the impact of the sun shining and the sight of nice green gardens and flowers in bloom, but this time of year has traditionally proven to be a popular time to sell, in part for this reason. After weeks in Stage 4 lockdown restrictions, the value and appreciation of pleasant weather conditions has never had greater impact. Further, people will be much more energised and positive. It’s also a lot easier to create street appeal! 2) Buyer Activity and Interest Remains Strong Data from realestate.com.au showed us that throughout July, confidence in the market continued to increase. As restrictions began to ease and some semblance
This Spring, we are still enjoying the impact of an official cash rate at the record low of 0.25 per cent, after two rate cuts in March 2020. The cost of servicing a mortgage debt has never been lower, which is an enticing opportunity for potential buyers. It also means that the borrowing costs for lenders are lower, which could lead to their willingness and ability to lend more money for longer. 4) Positive Signs in the Victorian Property Market The REIV’s Residential Market Index (RMX) is a residential property price index (RPPI) designed to provide a current, simple insight into real property price trends in Victoria. An RPPI measures the price change of the stock of residential dwellings over time. In its August 2020 Research Bulletin. the REIV reported that the RMX has continued its upward trend since mid-May, demonstrating that whilst Stage 4 restrictions have impacted the number of transactions occuring, they have had little impact on the Victorian property market. In the four weeks to August 16, the RMX for Victoria rose by 1.6 per cent to 130.7. The house price index fell by 1.5 per cent to 130.9 while the unit price index rose by 2.2 per cent to 129.8 over the same period. 5) We Have Had Time to Spring Clean! With a much slower pace of life and more time on our hands due to the pandemic, there is no excuse not to give our homes a decent Spring clean! As the weather continues to improve, there’s never been a better time to get your garden in tip-top shape and decluttering is always a good idea. Contact us today for a complimentary update from your Fletchers local area expert on your own home or to discuss the options available to you. Rob Fletcher Executive Chairman rob.fletcher@fletchers.net.au
MARKETING YOUR HOME TIPS, TOOLS AND TECHNOLOGY Transactions in the real estate industry have changed dramatically over the years, as the investment and implementation of technology rapidly increases. Conditions under the COVID-19 pandemic have further pushed agents and agencies to think outside the square, as the landscape constantly changes around us.
Consider Your Marketing Spend Whilst it is understandable to lean towards a conservative spend for your marketing at the moment, the old adage “you can’t sell a secret” rings true. The best prices are achieved where the greatest level of interest has been attracted, and a healthy level of competition has been subsequently generated. Investing in marketing allows you to reach a greater pool of potential buyers, which can then be whittled down to a smaller group who are interested in YOUR home. A robust marketing schedule should have a strong digital component; however don’t underestimate the importance of print in reaching passive buyers, i.e. those who are not actively looking, but your property peaks their interest. We have observed that one reaction to the pandemic is that buyers are more open to consider their options when it comes to where they live, whether that be moving their retirement plan forward, or considering a possible tree or sea change. Your marketing investment should aim to capture the maximum number of potential buyers of your home! Property Videos and 3D Virtual Tours Both major real estate internet portals report a dramatic increase in levels of user engagement for both video tours and 3D virtual tours. Providing a fully immersive property inspection experience, the technology allows potential buyers to feel what it’s really like to live at a property, all from the comfort of their own home. Ensure at least one (if not both) of these options are on your marketing schedule, to increase engagement for your property and to
continue to foster/facilitate interest in the event of any further restrictions. Digital and Social Strategy It’s a no brainer that digital and social media is an incredibly important aspect of any marketing campaign. As most people spend over 20 hours per week online and on social media, a comprehensive digital strategy is one of the best ways to reach them. Fletchers utilises the most powerful marketing platforms on the planet, Google and Facebook, via our specialist product AIM (Advanced Internet Marketing). This allows us to promote your property by showing ads to more people in the right areas and re-showing ads to people who clicked on your property previously. Online Auctions The Fletchers Group quickly jumped on board when auction streaming and online bidding became the new normal in the first lockdown, with on-site auctions banned in Victoria due to COVID-19. When Stage 4 restrictions came into force, we were successfully able to move back to the platform with ease. In fact, we have even auctioned properties completely remotely, with auctioneers calling auctions from their own homes! Both vendors and buyers have shown a willingness and ability to embrace this new normal. It provides its own positive aspects, including vendors also having the flexibility to view their own auction remotely, and bidders participating in the comfort of their homes and in an environment that is potentially less intimidating, placing their bids either verbally or via text. Finally, contracts are able to be signed and exchanged completely digitally and remotely.
Sarah Lowry Chief Marketing Officer sarah.lowry@fletchers.net.au
PREPARING YOUR HOME FOR A SPRING SALE As chilly mornings make way for warmer afternoons, Spring is traditionally the time of year when the property market heats up. Gardens are in full bloom, buyer activity remains strong and despite restrictions, clients are now asking how to best prepare their homes for a Spring sale.
Traditionally, the seasonal buzz in Melbourne at this time of year sees home owners flock to the market just as the weather starts to heat up. With footy finals migrating North and the Spring Racing Carnival potentially without spectators, the Spring landscape is looking very different for Melbourne in 2020. During this time, the re-opening of Victoria’s property market will remain a priority for our state’s economic recovery as we move into the new year. Recent data released by REA and Domain has revealed a definite spike in buyer activity. All signs are pointing to a competitive market where buyers are increasingly likely to make a decision based on a property’s online presence. Therefore, once restrictions lift, it’s going to be more important than ever to make your home stand out online. Gone are the days when we drive the streets looking for a ‘For Sale’ or ‘Open for Inspection’ board. Ultimately, it really comes down to how well your property is marketed. More eyes means more buyers, greater competition and a better outcome. So, how can we help make your home stand out in the crowd? We asked resident Property Stylist, Ali Waight, for her tips on how our community can best be preparing their home for market. First and Foremost, Engage With An Agent Enlisting the help of an experienced professional is critical to the success of your property campaign, especially in these uncertain times. Here, your agent can guide you through the preparation, timeframe and strategy to ensure you enter the market in the best possible position.
Engage a Property Stylist Staging your property for sale is a proven tool to help you achieve an optimal sales result in the market. Not only will your stylist help you to declutter, prepare your gardens and provide either partial or full styling options, but will maximise the space and flow in your house to give buyers a great first impression. Do You Need to Move all of Your Furniture Out? No. We can work with a partial style, which means working with some pieces of furniture that you already have. We can bring in rugs, artwork and ambient lighting to complement and help lift your room. Are You Allowed to Keep Your Beds and Linen? Our clients generally use their own mattresses and we will often bring in linen, cushions, bedsides, lamps and potentially a bed head to help tie the room together. The best way to showcase a bedroom is to dress it to its maximum capacity. Most people can’t judge the size of a room online, so a great tip is to always incorporate the largest bed option so they can visualise the rooms full potential. Should You Turn a Bedroom into a Study? Bedrooms are always going to achieve a greater result. We want to show the spaces at their maximum capacity. How Do You Maximise the Space in Your Dining Room? Most people judge the size of a room online by counting the amount of chairs around a dining table. So it’s best to opt for the larger option putting as many chairs as possible. A great tip is to take away the end chairs and squeeze four along each side. This will also create better flow with traffic. If You Remove Your Personal Items and Photographs, Will You Lose the Emotion of the House? Remember, we are selling a home which we want someone else to imagine as their own. So, to ensure buyers notice the special features of your home
(ie. ceiling detail, cabinetry, storage, natural lighting) you don’t want them to be distracted by personal photographs. For this reason, it’s best to pop these away. Think layered lighting, soft throws, non-polarizing artwork to help create the desired atmosphere.
A Case Study in Property Styling
What are the Best Quick Fixes Sellers Can Start Doing Now?
Selling Agent: Tim Heavyside
• Pressure wash decks, weather boards and driveways. Everything comes up fresh and bright!
“On Friday the 3rd of July 2020, I had contact via the phone from a retired man named Peter, who wanted to sell his home at 12 Hopetoun Avenue, Canterbury, as he now spends all of his time and energy on his farm in country Victoria. Our stylist and I provided a list of the areas inside and outside the home which we all agreed needed some attention and commenced a plan which would make their home saleable with elevating the eventual sale price top of mind. I then explained the importance of marketing...‘you can’t sell a secret’. Why go all this way with the presentation if only a select part of the market may see your beautiful home?
• Sugar Soap all of your walls. You may find you might not need to paint them by doing so. • A little trick is to only paint trims, architraves and skirting boards. • Mulch garden, avoid black and red mulch as it tends to not photograph as well, instead selecting a more natural wood.
12 Hopetoun Avenue, Canterbury Sold: $3,050,000
It is vital now to advertise and promote your home correctly, given how far our industry has moved to a digital platform in 2020. Given the current set of circumstances in Melbourne, it is imperative that your home be presented in the best possible light. With that, the vendor accepted our further advice around advertising and given feedback I received from the buyers, this only confirmed the investment paid huge dividends with the amount of buyers who engaged the home and the eventual sale price.” So what happened? • Marketing was finalised on Friday 31st July and the home went online that day. • The next day, we arranged 2 x hours of back-to-back individual inspections. • We then went further and conducted follow-up inspections the following week. • That Wednesday night, 5th August, we went into Stage 4 lockdown. So in 4 days, we showed 25 different buyers the home and worked extremely hard. • Exactly 1 week later (still under Stage 4 restrictions), 12 Hopetoun Avenue was successfully negotiated and sold for $3,050,000. Well above the vendors dream price. Click Here to read the vendor’s recommendation. Prue Fletcher Brand & Lifestyle Ambassador @prue_fletcher prue.fletcher@fletchers.net.au
MINDFULNESS, MEDITATION AND MOVEMENT AT HOME The COVID-19 pandemic and accompanying lockdown measures have turned work-life balance upside down. This has put enormous pressure on people’s physical and mental wellbeing.
Yoga can be a powerful tool to deal with the lockdown’s uncertainty and isolation. The benefits of a yoga, mindfulness and meditation practice is well documented, and includes improving physical wellbeing, supporting mental health and increasing life satisfaction and self-esteem. So it’s not surprising that during lockdown and these times of uncertainty and change, that an increasing number of people are turning to online yoga classes to regain balance, strength and find some quiet in our busy minds. Clare and Susan, a Mother-Daughter team and creators of Light Space Yoga, pivoted quickly back in late March this year when their 3 studios in Balwyn, Mitcham and Ivanhoe were forced to close. Since that time, they have created an Online Studio and App with over 1,500 on-demand classes and daily livestreamed classes that you can practice in the comfort of your own home. “It was so important to us to support our community. Back in March we obviously didn’t know that our studios would still be shut come September, but we felt it was going to be very important for our students to maintain their yoga practice for both their physical and mental health.” Clare commented.” So what will you find in the Light Space Online Studio? • Yoga Classes Yoga classes for all levels, from beginners through to advanced, in a wide variety of styles including vinyasa, slow flow and yin. Plus there is a wide range of class length options from 5 minutes to 75 minutes which makes fitting in a practice super easy even if you are short on time. • Meditation and Breathing Practices There are lots of guided meditations, including meditations suitable to energise, relax, de-stress and even prepare for a good night’s sleep. • Kids Yoga They have over 40 kids yoga classes for all ages. In a time when we are working from home and our kids are being home schooled, there has never been a better time to introduce children to the magic of yoga.
• Inspiring and Relevant Series There is a collection of different ‘Series’, which are a specially curated group of classes that focus on different topics and needs such as ‘Stress Management Series’, ‘Immune Support Series’, ‘Office Worker Series’ and many more. • 21 Day Journey to a Balanced You Included in the Light Space Online Studio is a special 21 Day Journey designed to welcome balance, intention and wellbeing into your life. Each day offers a new 30 minute themed practice. • Pre-Natal and Post-Natal There are pre and post natal classes, plus a special series for Newborn Mothers. • Audio Online Meditations There is a collection of Audio Only meditations which are great for when you don’t feel like watching a screen or for when you just want to lie back in bed and be guided off to sleep with a soothing meditation or yoga nidra. You can check Light Space Yoga’s Online Studio via their website. There really has never been a better time to give yourself the gift of yoga and meditation. To watch a complimentary sneak peek class, please click here.
EXCLUSIVE OFFER FOR FLETCHERS FRIENDS & CLIENTS Half Price Introductory Offer $12 for 28 Days Unlimited Online Access To redeem, visit lightspaceyoga.com.au/online-studio Purchase the Intro Offer for new students using the special code, ‘Fletchers’. Valid for purchase until 30th November 2020. Light Space Yoga lightspaceyoga.com.au 9857 3644 hello@lightspaceyoga.com.au
DIAMOND VALLEY & DOREEN HIGHLIGHT SALES
CHRISTMAS HILLS WALLACE ROAD
DIAMOND CREEK RYAN STREET
DOREEN ADOQUIN STREET
DOREEN BURSH DRIVE
Sold, Undisclosed | 4 Bedrooms
Sold for $742,500 | 3 Bedrooms
Sold for $520,000 | 4 Bedrooms
Sold for $550,000 | 3 Bedrooms
DOREEN CORRIEDAL DRIVE
DOREEN FITZWILLIAM DRIVE
DOREEN FREEHOLD STREET
DOREEN FREEHOLD STREET
Sold for $785,000 | 4 Bedrooms
Sold for $760,000 | 4 Bedrooms
Sold for $750,000 | 4 Bedrooms
Sold for $600,000 | 4 Bedrooms
DOREEN LAURIMAR HILL DRIVE
DOREEN MONTROSE DRIVE
DOREEN NURTURE AVENUE
ELTHAM ALLAMBIE DRIVE
Sold for $1,320,000 | 4 Bedrooms
Sold, Undisclosed | 3 Bedrooms
Sold for $591,950 | 3 Bedrooms
Sold for $915,000 | 4 Bedrooms
ELTHAM BIBLE STREET
ELTHAM PARK ROAD
GREENSBOROUGH NINION COURT
GREENSBOROUGH NULGARRAH CRESCENT
Sold, Undisclosed | 2 Bedrooms
Sold, Undisclosed | 4 Bedrooms
Sold, Undisclosed | 3 Bedrooms
Sold, Undisclosed | 5 Bedrooms
KANGAROO GND KANGAROO GND-ST ANDREWS RD
LOWER PLENTY BONDS ROAD
LOWER PLENTY PROSPERITY ROAD
MERNDA DECAMERON WAY
Sold, Undisclosed | 4 Bedrooms
Sold for $3,000,000 | 5 Bedrooms
Sold for $685,000 | 3 Bedrooms
Sold for $650,000 | 3 Bedrooms
MERNDA MELLIDORA DRIVE
MERNDA WELLINGTON STREET
UPPER PLENTY WALLAN WHITTLESEA RD YARRAMBAT THORNBILL DRIVE
Sold, Undisclosed | 4 Bedrooms
Sold for $540,000 | 4 Bedrooms
Sold for $925,000 | 2 Bedrooms
Sold, Undisclosed | 4 Bedrooms
OUR DIAMOND VALLEY & DOREEN TEAM
Alana Poorter
Amanda Langdon
Amy Mathisen
Craig Maskell
Nathan Foley
Nicholas Matkin
Ric Justice
Sue Stone
Danielle Bartos
Jon Michael
Julie Prout
Kaye Hoverd
Monica Diosi
OUR SALES & PROPERTY MANAGEMENT TEAM
Abigail Bainbridge
Adrian Lieschke
Alexandra Wooffindin
Allison Miller
Amelia Dunn
Amy Ma
Andrew Mackintosh
Andrew Paterson
Annie Ching
Angelique Rita
Belinda Bisogno
Ben Williams
Beth Oleyar
Bev Waterbury
Bianca Waddell
Bradley Brown
Brooke Grealy
Brooke Warwick
Caroline Dawborn
Cherie Sun
Cherie Xie
Christine Raines
Clare Tan
Claudia Barrientos
Connor Sun
Daiman Kane
Daniel Bolton
Daniel Lippis
Daniel Staley
David Taylor
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Dori Jennings
Edmund Hoh
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Emma Morrow
Fio Gao
Gabrielle McVie
Gail Logan
Glenda Martin
George Ozzimo
Guy Coles
Harley Toyle
Ian Van Eijk
Jack Peng
Jack Sammut
OUR SALES & PROPERTY MANAGEMENT TEAM
Jackie Chu
Jade Ktenas
Jane Caulfield
Jane Tilling
Jason Lee
Jason Salan
Jeanne Sheahan
Jee Chin
Jeremy Desmier
Jess Bolton
Joanne Cripps
Joanne Lynch
John Taylor
Julia Zorzut
Justine Sawford
Kaining Shepherd
Kristy Wang
Leanne Highmore
Luke Simms
Maeghan Blezard
Mark Dennis
Mark Fletcher
Melanie Nicholson
Melissa Honan
Michael Gurry
Michael Richardson
Michael Rosano
Michelle Huang
Michelle Yan
Miranda Farago
Monique Peeters
Morgan Sinni
Nelson Hughes
Nicholas McLean
Nick Fletcher
Nicole Freene
Nicole Powne
Pan Zhang
Patricia Grados
Peita Rodda
Prue Fletcher
Reilly Waterfield
Rino Presutto
Robin Waterbury
Rob Fletcher
Robert Sheahan
Rod Burton
Sarah Lowry
Spring Chen
Stefan Cook
Steven Zervas
Susy Rudge
Tanya Huppatz
Tara Pongho
Thomas Lo
Tim Heavyside
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07 / CROYDON
13 / MORNINGTON PENINSULA
19 / WAVERLEY
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244 Canterbury Road, Canterbury | 9836 2222
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HEALTH & SAFETY REMINDER Your health and safety is important to us. Please keep the following in mind when attending our auctions and open for inspections. • Wash Hands Frequently Please use hand sanitiser, alcohol-based wipes or soap and water to wash your hands thoroughly and regularly. • Practice Social Distancing
Maintain at least 1.5 metres distance between yourself and others. If anyone is coughing or sneezing, please maintain a distance of 2 metres or more. • Maintain Respiratory Hygiene
When you cough or sneeze, please cover your mouth and nose using either a tissue or with your bent elbow. Please dispose of any tissues immediately. • Seek Medical Care
Stay home if you feel unwell. If you have a fever, cough or difficulty breathing, please seek medical attention and follow the advice of your healthcare practitioner. • Stay Informed
Keep up-to-date on the latest developments concerning COVID-19 and follow the advice of our state and local government and health authorities. • Avoid Touching Face, Eyes, Nose or Mouth
Viruses can live on many surfaces and can easily be transferred to your eyes, nose or mouth. Be mindful when coming in contact with any surfaces.
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Contact us to book a market appraisal today.
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Are you looking for an up-to-date market assessment of your property? With restrictions easing and buyer demand now at record levels, these figures highlight a unique opportunity for vendors to take advantage of the low supply of property currently in the market and achieve a great sales result. To book a complimentary appraisal, visit fletchers.net.au/request-property-appraisal
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