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Archive for August, 2018

2 Suffolk Road, Surrey Hills

August 27, 2018 Leave a comment

Circa 1879, “Everton” has been renovated and extended over time to preserve its truly historic heritage. The front of the home still boasts high ceilings, decorative cornices and ornate ceiling roses, whilst the vast modern living/meals zone is perfect for entertaining with family and friends.

It’s well located, just a stroll to the train and the fantastic eateries and cafes of Surrey Hills and Maling Road. Visit the Fletchers website to explore the home or view the Statement of Information: bit.ly/2suffolkroadsurreyhills

Categories: Listings

1/3-5 Conway Crescent, Balwyn

I was lucky to be joined by my lovely vendor Jo, to show you this fantastic opportunity at 1/3-5 Conway Crescent, in the heart of Balwyn.
 
With its own driveway and double garage, Jo’s improvements to the three bedroom home include a new kitchen, painted throughout and her care of the beautiful garden.
 
This is an ideal home for a downsizer, small family or investor. Visit the Fletchers website to explore or view the Statement of Information: bit.ly/1at3-5conwaycrescentbalwyn
Categories: Listings

Market Update

The Domain Group reports that Melbourne property listings are running at about five per cent below the stock levels of 2017 so far this year. Buyers have had less choice throughout the cooler Winter months, particularly during the school holiday period.

Despite a tightening of supply, buyers have been wary of paying too much for property and in many cases are constrained on what they can spend due to the widening clampdown on mortgage lending. This has been illustrated by lower auction clearance rates compared to last year and relatively lower levels of enquiry. So if you are considering buying, now is your opportunity. We have seen real estate circles like this before (2008/2011), where buyers have tried to pick the bottom of the market and outsmart themselves. Particularly if you are upsizing on your property, now is the best climate to take action.

Low interest rates, strong employment growth and strong population growth continue to be a positive foundation for the housing market. AMP chief economist Shane Oliver believes that some parts of the Melbourne market may hold up better than others going into 2019. Melbourne’s outer perimeter, for example, continues to grow. The REIV reports that the median prices for both houses and units have risen over 10.5 per cent from a year ago.

REIV President, Richard Simpson notes that, “auctions continue to be popular all over Melbourne, but clearance rates have fallen from the lofty highs of early 2017. Negative chatter about the future of the sector coupled with stronger lending controls by financial institutions has created some uncertainty and vendors need to be realistic with their price expectations”.

This is an important reminder, particularly as we should see an increase in stock levels in late Winter and as we move into the peak Spring selling season. If you would like a complimentary appraisal of your home or simply wish to chat about the market, give me a call on 0403 020 404.