Buxton Property Values Report Ballarat including€¦ · Buxton Property Values Report Spring 2016...

Buxton Property Values Report Spring 2016

Property Values Report Spring 2016

Ballaratincludingsuburbs and surroundingareas

Buxton Property Values Report Spring 2016Buxton Property Values Report Spring 2016

At the beginning of 2015, interest rates were at a record low, and in the 18 months since, the Reserve Bank of Australia (RBA) decided to drop the cash rate a further 1.0%. The impact on the Victorian property market has been significant.

Historically, low and falling interest rates have contributed to increased house prices.

With cheaper loan finance homebuyers tend to spend more on properties, demand from investors increases, more property developments go ahead and interest from foreign investors rises.

We’ve seen all of this play out in Victoria over the last 24 months. Despite global economic headwinds, instability in domestic politics, and a national economy in transition, the REIV reports the Regional Victoria House Price Index rising 2.7% over the last 12 months. And, competition between buyers persisted in the first half of 2016 with auction percentage clearance rates across Victoria averaging 73% according to the Real Estate Institute of Victoria.

The most recent interest rate drops, on 4 May and 3 August, will likely contribute to sustained buyer demand and further price increases. But the RBA has been mindful of stimulatory affect for more than a year and together with governments and banking institutions, they’ve implemented a variety of measures designed to keep a lid on investor activity (particularly from overseas buyers):

• Higher lending rates and stricter criteria for investor loans

• Non-lending to non-residents (even Australian citizens)

• Increased stamp duty and land taxes for foreign purchasers

• Tightened requirements for, and increased scrutiny of, overseas property investors from the Foreign Investment Review Board

These initiatives have impacted lending activity in recent times. In a good sign for the overall health of the market, total new lending (owner occupier and investor) has been stable, but investor lending has been shrinking as a proportion since the middle of last year, and has been falling year-on-year in real terms since September.

The buyer mix has been changing: investors and foreign buyers have retreated from the market a bit and home buyers are playing an increasingly important role in the market.

Moving into Spring we expect strong demand from home buyers, fuelled by record low interest rates and heightened competition for quality homes.

Changing buyer mix set to shape Spring property market

In this fast-changing market, it’s important to seek professional advice from local market experts. Contact Buxton Ballarat (see back page for details) for an obligation free property appraisal or further information on property market conditions in your area.

Welcome to the Spring 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 Regional Victoria, Melbourne and within your specific neighbourhood.

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

Lending Commitments data sourced from the Reserve Bank of Australia

Owner Occupied Investor

68 is the average days on the market for regional Victoria properties and 35 days for metropolitan Melbourne(June 2016. Source: REIV).

Property ownership data sourced from the Australian Bureau of Statistics (Census 2011)

27%

40%

34%

29%33%

37%

27%

40%

34%

29%33%

37%

Owned Outright

Mortgaged

Rented

Proper ty ownership in Victor ia

% owner occupier versus investor lending commitments

of regional Victoria homes and 71% of metropolitan Melbourne households are owned or mor tgaged(Source: ABS Census 2011)

60%

50%

40%

30%

20%

10%

0

Sep 14 Dec 14 Mar 15 Jun 15 Sep 15 Oct 15 Mar 16 Jun 16

73%

$295

$250

Regional Victoria average gross rental yield Houses = 5.0% and Units = 5.2% (Source: CoreLogic RP Data Professional)

June vacancy rates for regional Victoria were 2.9% and metropolitan Melbourne were 2.7% and (Source: REIV)

Is the median weekly rent for units or townhouses in regional Victoria and $395 for metropolitan Melbourne (Source: REIV).

Is the median weekly rent for houses in regional Victoria and $401 for metropolitan Melbourne (Source: REIV).

people per square kilometre is the population density of Victoria and the state continues to have the fastest population growth rate in Australia.

25

0 2 Million

2016

2021

2026

4 Million 6 Million

Population predictions

Regional Victoria

Greater Melbourne

2026 population predictions are 5.586 million for Greater Melbourne and 1.585 million for Regional Victoria.

Greater Melbourne Regional Victoria


Property values in your neighbourhoodBuxton 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 financial year ending 30 June, 2016.

*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 2016 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: 2015 - 2016

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

Number Sold 231 54 285

Median $247,250 $335,500 $259,000

Highest $520,000 $670,000 $670,000

Median 3 year % change 3 3 2

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


Median $300,000 $450,000 $315,000

Highest $472,500 $760,000 $760,000


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


Median $317,475 $420,000 $367,000

Highest $751,429 $730,000 $751,429


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


Median $490,000 $653,750 $525,000

Highest $1,750,000 $1,380,000 $1,750,000

Median 3 year % change 5 9 -4

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


Median $300,000 $475,000 $329,000

Highest $675,000 $780,000 $780,000

Median 3 year % change -1 12 -1

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


Median $290,000 $320,000 $295,000

Highest $633,000 $1,025,000 $1,025,000

Median 3 year % change 10 -8* 9

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


Median $320,000 $458,000 $385,000

Highest $795,000 $880,000 $1,800,000


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


Median $263,000 $365,000 $275,000

Highest $700,000 $710,000 $780,000


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


Median $280,000 $354,000 $312,500

Highest $405,000 $605,000 $605,000


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


Median $235,000 $309,000 $240,000

Highest $470,000 $445,000 $470,000

Median 3 year % change 2 -1 1

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


Median $330,000 $396,250 $348,750

Highest $800,000 $580,000 $800,000


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


Median $310,000 $395,000 $343,000

Highest $1,112,500 $740,000 $1,112,500


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


Median $337,000 $495,000 $370,000

Highest $655,000 $980,000 $980,000

Median 3 year % change -2 11 -4


Learmonth Street, Ballarat - Sold for $505,000. Sold by Mark Nunn.

Anderson Court, Canadian - Sold for $425,000. Sold by Chris McAteer.

Ripon Street South, Ballarat - Sold for $395,000. Sold by Jarrod Cloke.

Kent Street, Ballarat - Sold for $600,000. Sold by Mark Nunn.

Recent local area sales successes

Salisbury Avenue, Newington - Sold for $345,000. Sold by Liam Crowley.

Mill Street, Lake Wendouree - Sold for $810,000. Sold by Ben Halsall.

Maximise your sale price with Buxton Ballarat

With sales results like these, it’s easy to see why Buxton is a leading agent in your local area.

Our experienced professionals are local area experts and have the proven strategies to market your property to the right buyers.

When you appoint Buxton to sell your home, we use advanced buyer profiling and property matching strategies to identify and locate the ‘best’ buyers – those who will pay the most for your property. We then develop a targeted and fully integrated advertising campaign to reach them with outstanding impact and frequency.

It all adds up to more of the right buyers and the best possible result.

Current buyer enquiry to our office is strong, and if you are considering selling, the time is right.

Contact us now and find out how our highly skilled auctioneers and negotiators can maximise your sale price.

See the back page of this booklet for contact details.

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 financial year ending 30 June, 2016.

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 2016 data may be missing some sales taking place towards the end of the financial 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.

Units / Townhouses: 2015 - 2016

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

Number Sold 25 4 29

Median $232,000 $276,250 $240,000

Highest $320,000 $290,000 $320,000


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

Number Sold 20 9 29

Median $218,000 $295,000 $253,000

Highest $274,000 $600,000 $600,000

Median 3 year % change -7* -3* -1

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

Number Sold 12 9 21

Median $231,250 $318,500 $291,500

Highest $312,500 $600,000 $600,000


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

Number Sold 14 8 22

Median $298,000 $342,500 $298,000

Highest $380,000 $735,000 $735,000

Median 3 year % change -2* -5* -12*

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

Number Sold 8 5 13

Median $249,000 $310,000 $274,000

Highest $315,000 $435,000 $435,000

Median 3 year % change 40* 9* 19

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

Number Sold 25 2 27

Median $210,000 $340,000 $210,000

Highest $295,000 $340,000 $340,000

Median 3 year % change 8 22* -11*

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

Number Sold 17 1 18

Median $255,000 $325,000 $272,500

Highest $405,500 $325,000 $405,500

Median 3 year % change 6 11* 11

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


Median $235,750 $300,000 $261,000

Highest $353,000 $379,000 $379,000

Median 3 year % change -4 9 4

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

Number Sold 2 7 9

Median $159,000 $285,000 $285,000

Highest $195,000 $296,625 $296,625

Median 3 year % change N/A* -2* -2*

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


Median $197,000 $248,750 $211,750

Highest $277,500 $272,000 $277,500

Median 3 year % change -10 -1 -6

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


Median $232,488 $270,002 $255,000

Highest $269,950 $458,000 $458,000

Median 3 year % change -6 0* -1

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

Number Sold 9 4 13

Median $210,000 $260,000 $238,000

Highest $255,000 $283,000 $283,000

Median 3 year % change -8* -11* -17*

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

Number Sold 2 3 5

Median $222,500 $320,000 $309,000

Highest $240,000 $340,000 $340,000

Median 3 year % change 14* N/A* 58*

Land: 2015 - 2016

1 - Wendouree / Miners Rest All Land

Number Sold 41

Median $121,000

Highest $200,000

Median 3 year % change -5

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

Number Sold 6

Median $217,500

Highest $355,000

Median 3 year % change 16*

3 - Alfredton / Lucas All Land

Number Sold 71

Median $145,000

Highest $490,000

Median 3 year % change 2

4 - Lake Gardens / Lake Wendouree All Land

Number Sold 19

Median $121,000

Highest $200,000

Median 3 year % change -5

5 - Soldiers Hill All Land

Number Sold 3

Median $230,000

Highest $307,500


6 - Newington / Redan All Land

Number Sold 2

Median $333,750

Highest $402,500


7 - Ballarat Central All Land

Number Sold 3

Median $255,000

Highest $330,000


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

Number Sold 29

Median $160,000

Highest $325,000


9 - Delacombe All Land

Number Sold 44

Median $127,500

Highest $453,000


10 - Sebastopol All Land

Number Sold 20

Median $105,000

Highest $315,000


11 - Canadian All Land

Number Sold 5

Median $139,000

Highest $315,000

Median 3 year % change -7*

12 - Mount Clear / Mount Helen All Land

Number Sold 37

Median $130,000

Highest $525,000

Median 3 year % change -15*

13 - Buninyong All Land

Number Sold 26

Median $195,750

Highest $300,000



Ballarat326-328 Sturt Street

If you are considering selling and would like to achieve the highest price possible, contact the local area experts - Buxton Ballarat. Or, for an accurate, obligation free market appraisal call us now on 5331 4544.

Mark NunnDirector0409 412 518

Ben HalsallDirector0400 223 887

Peter BurleyDirector0402 220 356

Chris McAteerSales Consultant0419 509 194

Jess BennProperty Management0447 217 024

Jodie BurleySales Administrator0400 862 295

Jarrod ClokeSales Consultant0407 550 103

Jo HalsallOffice Manager5331 4544

Liam CrowleySales Consultant0418 378 177

Amy NunnDepartment Manager / Property Management5331 4544

Jessica BibbyMarketing Co-ordinator0400 171 644

Samantha PrinceAdministration5331 4544

James MontanoSales Consultant0424 157 499

Jake LongProperty Management0447 217 206

Buxton Property Values Report Ballarat including€¦ · Buxton Property Values Report Spring 2016...

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