Grants Quarterly Market Update - Bryn Mawr / Edrington Park

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The Grants 1st Qtr 2014 Market Update - providing the latest property market information for local residents. To receive a copy every quarter email berwick@grantsea.com.au

Transcript of Grants Quarterly Market Update - Bryn Mawr / Edrington Park

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    Grants Market Update Grants Estate Agents

    3a Gloucester Ave, Berwick(03) 9707 5555

    berwick@grantsea.com.au

  • Grants Market Update! ! ! !

    1st Quarter 2014 - Review

    Market on the up, will prices keep rising?In the September quarter Grants Market Update we predicted prices would begin to climb with renewed interest from local buyers.

    We are now seeing this be the start of the next growth cycle. Its looking like 2014 will see improving market wide conditions as the market continues to recover.

    A number of factors are combining to drive the market higher in the first half of 2014, interest rates are now well under 5% vs last year when they were in the 6% - 6.5% range. This allows buyers to borrow more and creates greater competition for available properties for sale.

    The share market has also seen a strong finish to the year, the All ordinaries index was around 4,400 last year but has climbed to 5,400 with company income multiples at strong levels investors are again looking for solid returns with reduced risk and have begun to rotate into investment properties again.

    Auction clearance rates improved solidly over the last quarter of 2013 from 1st quarter levels around 55% to finishing the year above 75%, competition for quality property is continuing to climb.

    SMSFs are also active in the market looking for properties that will be securely leased, this is creating competition for first home buyers who are being left behind by rising prices.

    It is encouraging that these positive signs have developed for the market in 2014, whilst it remains a recovery phase and there may be soft spots in the market in certain areas the outlook for City of Casey and Cardinia is certainly a positive one.

    In looking ahead for 2014 we see continued improvement in demand from buyers with more interest in the South East corridor as inner suburbsbecome more and more expensive - anoverflow effect if you will with buyerspriced out of certain suburbs looking further out.

    Inner city prices leading the way but South East corridor prices increasing over the next 3 years.

    House prices continuing to outperform units values over the medium term.

    Interest rates starting to climb in the 2nd half of 2014.

    If you have any questions regarding your specific needs, Grants agents are here to help you with expert market knowledge and exceptional service. Grants are the leader in our marketplace and we look forward to helping you move.

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  • Grants Market Update! ! ! !

    1st Quarter 2014

    Ten reasons property prices will be 5-10% higher by July 20141. The Australian share market is reaching record highs, this is generating great wealth for many

    Australians

    2. Global economic conditions are improving we will benefit more than any other country

    3. Record low interest rates are making property more affordable

    4. We have a nationwide housing shortage now and into the future, so demand will outstrip supply

    5. Cash & term deposit rates are falling making property a more attractive investment strategy.

    6. Rents are continuing to climb providing investors increasing yields over the next few years

    7. Self-managed super funds (SMSF) are eagerly investing directly in residential property

    8. Luxury homes sales are improving for the first time in 2 years

    9. The federal election is out of the way which will give great confidence to business and consumers

    10. Theres less risk in buying property than any other asset, Australians will continue to love bricks and mortar for their future financial plans over the next 3-5 year cycle.

    If you have any questions regarding your specific needs, Grants agents are here to help you with the areas most trusted real estate opinion. We sell more homes than anyone in Casey / Cardinia and having the biggest local sales team means we have a specialist in your area.

    If you would like to find out what your home is worth simply call 9707 5555 for a FREE market appraisal.

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  • Beaconsfield / Beaconsfield Upper Lifestyle properties have been slow to recover

    but buyer numbers have increased for premium quality homes. Berwick Views Estate is sought

    after with very few homes on market.

    The Chase / Eden rise 2 Pinecrest Crt had 21 groups thru open home.

    Buyers looking for 4 bed plus study with 3 living a key criteria and side access or parking for

    boat/caravan popular.

    Bemersyde Dve/ Kingsmere Prices moving up, Properties in both areas

    attracting 10 plus buyers thru open. Entry level properties remain most sought after, $350,000 -

    $400,000 needed urgently.

    Berwick Springs / Beaumont Waters Bigger blocks in demand with side access for

    caravan or boat, 4 bd preferred. 16 buyers thru 24 Jack William Way - sold after 3 offers

    received.

    Berwick South Competition seeing properties sell above

    owners expectations - Pendulum Place having 4 offers after the first open home. 3-4 bed in

    demand between $370,000-470,000.

    Olde Berwick / Edrington Pk Lack of stock still a factor, 3 bedrooms in

    demand, 53 Howell Dve had 9 thru last open home. Buyers waiting for right property to come

    onto the market and eager to buy.

    Bellbird Pk / William Rd Shortage of stock on market still holding back

    prices Buyers indicating they are seeking 3 living areas ideally with 4 beds. Sales above

    $550,000-$700,000 showing improvement. Timbarra Prices are increasing with prices above

    $400,000 achieved. Properties with 2 baths and carport or garage getting 10+ groups thru open homes - Wimmera Crt recently had 14 thru OFI

    Market Snapshot

  • Olde Berwick Market Update! ! ! !

    1st Quarter 2014 Northside Berwicks ease of access to freeways and local

    amenity keeps demand constant even in falling markets. Buyers appreciate the location and benefits of the North side and remain looking for suitable property.

    In the September quarter Grants Market Update we predicted prices would begin to climb with renewed interest from local buyers.

    We are now seeing this be the start of the next growth cycle.

    A number of factors are combining to drive the market higher in the first half of 2014, interest rates are now well under 5% vs last year when they were in the 6% - 6.5% range. This allows buyers to borrow more and creates greater competition for available properties for sale.

    Auction clearance rates improved solidly over the last quarter of 2013 from 1st quarter levels around 55% to finishing the year above 75%, competition for quality property is continuing to climb.

    In looking ahead for 2014 we see continued improvement in demand from buyers with more interest in the South East corridor as inner suburbs become more and more expensive - an overflow effect if you will with buyers priced out of certain suburbs looking further out.

    Inner city prices leading the way but South East corridor prices increasing over the next 3 years.

    For more information or to request a FREE Market Appraisal visit www.grantsea.com.au

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