Autumn 2018 Ballarat Area Property Values Report · Buxton Property Values ReportAutumn 2018 Buxton...

Alfredton, Bakery Hill, Golden Point, Ballarat Central, Ballarat East, Eureka, Ballarat North, Invermay Park, Black Hill, Soldiers Hill, Canadian, Delacombe, Lake Gardens, Lake Wendouree, Mount Clear, Mount Helen, Newington, Redan, Sebastopol and Wendouree.

Autumn 2018 Ballarat Area Property Values Report

Buxton Property Values Report Autumn 2018Buxton Property Values Report Autumn 2018

Jul-

Sep

20

14

Oct

-De

c 2

014

Jan

-Mar

20

15

Ap

r-Ju

n 2

015

Jul-

Sep

20

15

Oct

-De

c 2

015

Jan

-Mar

20

16

Ap

r-Ju

n 2

016

Jul-

Sep

20

16

Oct

-De

c 2

016

Jul-

Sep

20

17

Oct

-De

c 2

017

Jan

-Mar

20

17

Ap

r-Ju

n 2

017

50%

55%

65%

60%

70%

75%

80%

85%

Auction Clearance Rate % in Buxton’s 140+ Suburbs

* Property Analytics (www.propertyanalytics.com.au) provides independent statistical information to real estate professionals throughout Victoria and New South Wales.

Welcome to the Autumn edition

of our Property Values Report, a

summary of property sales and

related information, delivered to

you exclusively by Buxton. We are

committed to providing our

clients with accurate, credible,

relevant market information and

have worked in partnership with

independent real estate data

specialists Property Analytics* to

develop this report. The statistics

within are designed to give you a

deeper understanding of how the

residential real estate market is

performing across Melbourne,

in this region and within your

specific neighbourhood.

75%is the average % Auction Clearance Rate over the last 3 years in

Buxton Suburbs(Source: REIV)

-4.3%is the amount Investor Lending Commitments have decreased in the 2nd half of 2017 v 2nd half of 2016.

(Source: Corelogic)

46 daysis the average time it takes to sell a property

in Regional Victoria

(Source: Source: REIV)

17 months

since the RBA has changed Interest

Rates(Source: RBA)

A more balanced market. Property prices across Melbourne and Regional

Victoria have increased dramatically since the current growth cycle began

about 5 years ago. We’ve written previously about some of the drivers behind

this growth: record low interest rates, investor demand (domestic and

international) and significant population migration from interstate and overseas.

All of these 3 main growth drivers still exist, but we’re likely to see growth

moderate in 2018 for a few key reasons.

Firstly, annual double digit percentage rises can only be sustained for so

long. Residential real estate performs in cycles similar to other sectors

within the economy. Usually prices go up, sometimes they’re flat and

occasionally they fall. Many economists believe peak growth is behind us

primarily for cyclical reasons (though very few predict price falls over the

next two years).

Secondly, under the direction of APRA (The Australian Prudential Regulation

Authority) Australian banks have introduced a variety of measures in recent

times designed to curb real estate price growth. Higher mortgage rates for

investors versus home occupiers, limited interest-only lending options

which are favoured primarily by investors, stricter loan-to-value ratios and

greater scrutiny of living expenses and borrowing capacities.

Thirdly, it’s become more difficult for foreign purchasers as many banks

refuse to recognise overseas income - even from Australian citizens,

new taxes and regulations have been introduced that specifically target

non-Australian buyers, illegal ownership is being policed more diligently

(e.g. non-permanent residents need to sell once they leave Australia)

and it’s become increasingly difficult for Chinese buyers to extract funds

from overseas.

It appears that the above forces may have started to impact on the

Melbourne real estate market.

Buxton operates in 140 plus suburbs across Victoria. While the October -

December 2017 median house price in our areas was up 14% compared to

the same quarter in 2016 (a great result for home owners!), the Auction

Clearance Rate was 6% lower than the 3-year average of 76%. Now, the last

quarter of the year is always a big selling period – with so many more

properties listed for sale, demand from buyers tends to be diluted, leading

to higher pass-in rates – but it’s the trend that is important. The 70%

Auction Clearance Rate to finish 2017 was 9% lower than seen in the same

quarter of 2016, and it’s been trending down in every quarter since. This

aligns to what many of us are seeing at open for inspections and auctions –

slightly less numbers.

Moving into 2018, some of the key building blocks remain for further price

growth. While we certainly don’t expect price falls, we do anticipate a flatter

market characterised by a greater balance between demand and supply. In

these conditions it’s more important than ever to select knowledgeable,

local area experts to represent you in selling your home.


Ballarat suburbs and surrounding areas property values

Buxton has divided the map on this page into 13 different property value areas. To find out the median house value in your neighbourhood, simply locate your street on this map to discover which area your property is in, then look up the relevant chart at left or on the following page. Data shown is for the calendar year ending 31 December, 2017.

*Median Value 3 years % Change in figure is statistically unreliable due to insufficient sales volumes.

Howitt Street

Ballarat-Carngham Road

Winter StreetSebastopol Street

Dys

on

Dri

ve

Howitt Street

Sturt Street

Sut

ton

Str

eet

Rubicon Street

Wilson Street

Wirreanda Drive

Yank

ee F

lat R

oad

Bells Road

Ring Road

Mair Street

1

2

3

5

6

78

9

10

12

13

11

4

About median valuesThe median value is a more reliable figure than an average price. This is used as an indicator of price trends in a particular area. That’s why median prices are used by Buxton, the Real Estate Institute of Victoria and the Valuer General. Simply, the average price is obtained by adding up the value of all sales and dividing that figure by the number of sales. The median average is the middle price when all sales are arranged in order from highest to lowest.

Please note that figures relate to sales of individual residential properties only, and exclude sales of multiple dwellings in single transactions (e.g. blocks of units), vacant land, and commercial real estate. The data on these pages also includes Valuer General data and because of the delay in receiving it, the 2017 data may be missing some sales taking place towards the end of the financial year. Also be aware that if any area has a particularly low number of sales during any period, this may unfairly influence the trend. Whilst every care has been taken to confirm the accuracy of the information presented, neither the authors, editors or publishers can be responsible for errors or omissions or for any consequences from application of the information given.

Houses: 2017

1 - Wendouree / Miners Rest 1-3 Bed 4+ Bed All Houses

Number Sold 276 78 354

Median $252,500 $379,500 $265,000

Highest $415,000 $795,000 $795,000

Median 3 year % change 2 13 3

2 - Ballarat North / Invermay Park / Black Hill 1-3 Bed 4+ Bed All Houses


Median $316,500 $435,000 $355,168

Highest $570,000 $1,020,000 $1,020,000


3 - Alfredton / Lucas 1-3 Bed 4+ Bed All Houses


Median $346,000 $446,000 $407,500

Highest $975,000 $925,000 $975,000


4 - Lake Gardens / Lake Wendouree 1-3 Bed 4+ Bed All Houses


Median $450,000 $845,000 $590,000

Highest $1,520,000 $2,025,000 $2,025,000

Median 3 year % change -18 28 5

5 - Soldiers Hill 1-3 Bed 4+ Bed All Houses


Median $416,288 $536,000 $425,000

Highest $800,000 $870,000 $870,000


6 - Newington / Redan 1-3 Bed 4+ Bed All Houses


Median $293,750 $430,000 $305,000

Highest $1,000,000 $1,600,000 $1,600,000


7 - Ballarat Central 1-3 Bed 4+ Bed All Houses


Median $375,500 $568,000 $407,000

Highest $820,000 $1,280,000 $1,280,000


8 - Ballarat East / Eureka / Bakery Hill / Golden Point / Mount Pleasant 1-3 Bed 4+ Bed All Houses


Median $285,500 $455,000 $305,000

Highest $520,000 $820,000 $820,000


9 - Delacombe 1-3 Bed 4+ Bed All Houses


Median $315,000 $382,500 $346,000

Highest $447,000 $1,050,000 $1,050,000


10 - Sebastopol 1-3 Bed 4+ Bed All Houses


Median $243,000 $322,500 $252,000

Highest $365,000 $435,000 $435,000


11 - Canadian 1-3 Bed 4+ Bed All Houses


Median $296,125 $386,000 $330,000

Highest $715,000 $720,000 $720,000

Median 3 year % change -3 -1 -6

12 - Mount Clear / Mount Helen 1-3 Bed 4+ Bed All Houses


Median $307,500 $400,000 $363,500

Highest $470,000 $645,000 $645,000

Median 3 year % change -1 2 12

13 - Buninyong 1-3 Bed 4+ Bed All Houses


Median $429,000 $555,000 $470,000

Highest $900,000 $890,000 $900,000



46%of residents moved to the Ballarat Area in the

last 5 years

Annual Household Income in the Ballarat Area Age of Residents in the Ballarat Area

VictoriaBallarat Area

0% 10% 20% 30% 40% 50% 60%

% Under 20 yrs

% 20 - 39 yrs

% 40 - 59 yrs

% Over 59 yrs

% of householdswith annual income

over $130,000

0%

5%

10%

15%

20%

25%

30%

35%

40%

% of householdswith annual income

under $41,599

% of householdswith annual income$41,599 - $77,999

% of householdswith annual income$78,000 - $129,999

VictoriaBallarat Area

Property Sizes in the Ballarat Area

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Victoria

Ballarat Area

% 1 - 2 Beds

22% 52% 26%

25% 45% 30%

% 3 Beds % 4+ Beds

Property Types in the Ballarat AreaProperty Ownership in the Ballarat Area

29%33%

37%

householdsmortgaged

householdsrented

householdsowned outright

33%34%

33%

29%33%

37%

Semi-Detached

Flats

Detached81%

4%

15%

*Ballarat Area includes: Alfredton, Bakery Hill, Golden Point, Ballarat Central, Ballarat East, Eureka, Ballarat North, Invermay Park, Black Hill, Soldiers Hill, Canadian, Delacombe, Lake Gardens, Lake Wendouree, Mount Clear, Mount Helen, Newington, Redan, Sebastopol and Wendouree. All data on this page: Australian Govt Census 2017.

About median valuesThe median value is a more reliable figure than an average price. This is used as an indicator of price trends in a particular area. That’s why median prices are used by Buxton, the Real Estate Institute of Victoria and the Valuer General. Simply, the average price is obtained by adding up the value of all sales and dividing that figure by the number of sales. The median average is the middle price when all sales are arranged in order from highest to lowest. Data shown is for the calendar year ending 31 December, 2017.

Please note that figures relate to sales of individual residential properties only, and exclude sales of multiple dwellings in single transactions (e.g. blocks of units), vacant land, and commercial real estate. The data on these pages also includes Valuer General data and because of the delay in receiving it, the 2017 data may be missing some sales taking place towards the end of the calendar year. Also be aware that if any area has aparticularly low number of sales during any period, this may unfairly influence the trend. Whilst every care has been taken to confirm the accuracy of the information presented, neither the authors, editors or publishers can be responsible for errors or omissions or for any consequences from application of the information given.

Did you know...Units / Townhouses: 2017

1 - Wendouree / Miners Rest 1-2 Bed 3+ Bed All Units

Number Sold 27 7 34

Median $218,750 $272,500 $244,950

Highest $515,000 $360,000 $515,000

Median 3 year % change 7 -1* 7

2 - Ballarat North / Invermay Park / Black Hill 1-2 Bed 3+ Bed All Units


Median $223,500 $295,000 $268,000

Highest $310,000 $492,000 $492,000


3 - Alfredton / Lucas 1-2 Bed 3+ Bed All Units


Median $210,000 $320,000 $284,000

Highest $570,000 $360,000 $570,000

Median 3 year % change 0 3* 4

4 - Lake Gardens / Lake Wendouree 1-2 Bed 3+ Bed All Units

Number Sold 19 6 25

Median $330,000 $365,000 $360,000

Highest $485,000 $495,000 $495,000

Median 3 year % change 35 -8* 17

5 - Soldiers Hill 1-2 Bed 3+ Bed All Units

Number Sold 5 7 12

Median $272,500 $415,000 $336,000

Highest $283,000 $490,000 $490,000

Median 3 year % change 11* 23* 21*

6 - Newington / Redan 1-2 Bed 3+ Bed All Units

Number Sold 24 7 31

Median $195,000 $267,000 $211,000

Highest $270,000 $272,500 $272,500

Median 3 year % change 0 0* -3

7 - Ballarat Central 1-2 Bed 3+ Bed All Units

Number Sold 28 6 34

Median $252,500 $435,000 $262,500

Highest $493,000 $435,000 $493,000

Median 3 year % change 6 76* 4

8 - Ballarat East / Eureka / Bakery Hill / Golden Point / Mount Pleasant 1-2 Bed 3+ Bed All Units


Median $241,500 $320,000 $285,000

Highest $493,000 $537,500 $537,500


9 - Delacombe 1-2 Bed 3+ Bed All Units

Number Sold 6 3 9

Median $251,500 $364,000 $290,000

Highest $362,500 $410,000 $410,000


10 - Sebastopol 1-2 Bed 3+ Bed All Units


Median $200,000 $256,100 $212,500

Highest $248,000 $290,000 $290,000

Median 3 year % change 1 7* -3

11 - Canadian 1-2 Bed 3+ Bed All Units


Median $233,750 $299,000 $278,444

Highest $347,000 $345,000 $347,000


12 - Mount Clear / Mount Helen 1-2 Bed 3+ Bed All Units

Number Sold 9 13 22

Median $220,000 $289,000 $283,000

Highest $335,000 $399,000 $399,000

Median 3 year % change 6* 5* 25

13 - Buninyong 1-2 Bed 3+ Bed All Units

Number Sold 1 3 4

Median $238,000 $339,000 $334,500

Highest $238,000 $385,194 $385,194

Median 3 year % change -9* 6* 17*

Land: 2017

1 - Wendouree / Miners Rest All Land

Number Sold 63

Median $132,000

Highest $200,000

Median 3 year % change 7

2 - Ballarat North / Invermay Park / Black Hill All Land

Number Sold 29

Median $155,000

Highest $240,000

Median 3 year % change -14

3 - Alfredton / Lucas All Land

Number Sold 118

Median $166,250

Highest $381,500


4 - Lake Gardens / Lake Wendouree All Land

Number Sold 36

Median $222,750

Highest $1,360,000


5 - Soldiers Hill All Land

Number Sold 1

Median N/A

Highest N/A

Median 3 year % change N/A*

6 - Newington / Redan All Land

Number Sold 8

Median $297,078

Highest $610,000

Median 3 year % change 120*

7 - Ballarat Central All Land

Number Sold 7

Median $184,000

Highest $500,000

Median 3 year % change -16*

8 - Ballarat East / Eureka / Bakery Hill / Golden Point / Mount Pleasant All Land

Number Sold 31

Median $160,000

Highest $349,000


9 - Delacombe All Land

Number Sold 114

Median $132,000

Highest $320,000


10 - Sebastopol All Land

Number Sold 25

Median $115,000

Highest $900,000


11 - Canadian All Land

Number Sold 6

Median $127,500

Highest $292,720

Median 3 year % change N/A*

12 - Mount Clear / Mount Helen All Land

Number Sold 26

Median $113,500

Highest $1,600,000

Median 3 year % change -4

13 - Buninyong All Land

Number Sold 13

Median $220,000

Highest $515,000


Property Values Report Autumn 2018

Jo Halsall Office Manager 5331 4544

Jess Benn PA to Jarrod Cloke 0428 064 739

Bianca Stokell Marketing Co-Ordinator 5331 4544

Amy McDonald Sales Administration 5331 4544

If you are considering selling and would like to achieve the highest price possible,

contact a Ballarat local area expert for an up-to-date market appraisal.

Ben Halsall Director 0400 223 887

Mark Nunn Director 0409 412 518

Peter Burley Director 0402 220 356

Chris McAteer Sales Consultant 0419 509 194

Liam Crowley Sales Consultant 0418 378 177

Jarrod Cloke Sales Consultant 0407 550 103

James Montano Sales Consultant 0424 157 499

Bernie Massey Sales Consultant 0438 396 877

Matthew Stevens Sales Consultant 0418 501 323

Leearnee Jones Sales Consultant 0473 666 100

Tim Veal Sales Consultant 0419 561 915

Matilda Coutts PA to the Directors 0429 178 496

Jodie Burley Sales Administrator 0400 862 295

Renae Heath Property Management 0437 676 101

Julie Frans Property Management 0437 831 263

Jessica Bibby Property Management 5331 4544

Amy Nunn Property Management 5331 4544

Samantha Prince Administration 5331 4544

Autumn 2018 Ballarat Area Property Values Report · Buxton Property Values ReportAutumn 2018 Buxton...

Documents

Transcript of Autumn 2018 Ballarat Area Property Values Report · Buxton Property Values ReportAutumn 2018 Buxton...