2nd quarterly market report
DESCRIPTION
ÂTRANSCRIPT
Mornington East
& Mount Martha Quarterly Market Report
1st October - 31st December 2014
Issue Two
We are the Mornington/Mt Martha
East Property Specialists!
Blue Water Bay Real Estate are strategically located at Bentons Square
Shopping Centre.
We have chosen our location so that we can offer the best service
possible to the 6000 houses around us. We know and love the area and
are able to deliver the maximum selling price for your home as this is our
area of expertise.
Some agencies have chosen to market and sell over the whole of the
Peninsula, some just the townships of Mornington and Mt Martha (over
45,000 houses)....
We prefer to service our localised area and ensure our market
knowledge is 2nd to none!
Kathy Netherclift, our Director, has helped shape East Mornington and
Mt Martha, with this as her ‘specialty zone’ for 22 years! She developed
blocks for sale and built 100’s of house and land packages before
Bentons Square existed!
This area is far better served from our Bentons Square location. No one
buys a property in our area without calling in and seeing what we have
available. It’s more convenient, has easy parking and is in a high traffic
zone. This ensures the office windows are noticed 24/7.
While you’re relaxing... Our windows are working!
WHAT IS YOUR
HOME WORTH?
Ask the experienced team at
Blue Water Bay Real Estate
Call now for a professional opinion
5976 1188 [email protected]
A year is a very long time in the property market. It’s fair to
say the market has gone gangbusters in 2014, compared
to the same period in 2013. Onthehouse.com.au figures
revealed that national residential property sales are just
shy of the 500,000 mark.
As Table 1 demonstrates, total national sales reached
494,991 – a 12.7% increase from the previous year. This
increase was underpinned by strength in both the house
and unit markets, with annual sales in each market closing
at 340,197 (up 13.9% in the last year) and 154,794 (up
10.1% in the last year) respectively. Unsurprisingly, house
and unit prices also increased at the same time. The
median house price in Australia increased by 7.85% to
$474,500, while the median unit price increased by 7.77%
to $439,500.
But what’s in store for 2015?
Will the property price growth of 2014 continue this year,
or will the market behave differently in 2015? To get a
sense of where prices are headed, let’s take a look at
some of the key drivers in the market and how they might
affect price growth over the next 12 months.
1. Interest Rates
The cost and availability of home and investor loan
finance is a key driver in the market. In 2014, this was at
historically low levels with no Cash Rate movement
throughout the year – the Cash Rate has remained on
hold at 2.5 per cent since August 2013. Raising interest
rates too soon could do considerable harm. I think we
need more time to ensure the economy is
fundamentally strong and growing sufficiently before
taking any further measures. Having said this, I do
expect rates to go up sometime during the second half
of next year once we get a clear line of sight on the
economy and if inflation starts to increase above the
RBA’s comfort zone.
2. Unemployment
Australia’s unemployment rate has been steadily
rising for the past year or so, and is currently sitting
around the 6.0% mark and unemployment is tipped
to increase further this year. With more people out of
work and increasing uncertainty around job security
– the willingness and ability to buy property may be
affected. On balance though, this is unlikely to be
reflected in material price movements because of
the strong underlying demand from home buyers
and investors with relatively secure jobs.
3. Housing Stock
Families prefer houses or properties with a land
component and most of us want to live in areas
close to public transport with good schools, shops,
amenities and recreational facilities nearby.
Mornington and Mt Martha has a limited supply as
we have no vacant land left. Combine this with an
increasing population (through births and
immigration) and a lack of housing stock and you
have upward pressure on property prices. I expect
this pressure to continue into 2015.
4. Affordability
I see affordability, or rather un-affordability, as the
biggest issue and dampener on house price growth
into 2015 and beyond. A simple rule of thumb says
that where mortgage or rent payments are 40% or
less of after tax earnings, a property is affordable;
anything above this is deemed unaffordable. A
serious consequence of all this (apart from the
financial pressure on many existing owner-occupiers)
is the exclusion of an ever increasing number of first
time buyers who cannot enter the property market
because they simply cannot afford to buy or
compete with tax-advantaged property investors.
5. 2015 and Beyond Predictions
And so now to the $64,000 question...
Where are property prices headed in 2015???
At Blue Water Bay Real Estate, we will keep you informed with Quarterly Market Updates
of actual sales results in your area so you can keep a finger on the pulse and be able
to make an informed decision as to the right time to buy and sell for you!!
Property Market in Review: 2014—The Year Everything Went Gangbusters
Area Statistics
Non Beachside Mornington & Mt Martha...
Total # of Sales in this area from October 1 to December 31 = 73
BWBRE # of Sales in this area from October 1 to December 31 = 13
“There are 21 Real Estate Agencies in
Mornington & Mt Martha, so trust your home
to the specialists in your area!”
(We also sold 5 Beachside properties this quarter...)
18%
82%
Property Market in Review:
Mornington East
9/10 Maxwell St
$515,000 6/10/14
300m2 land
3
Mornington East
13 Steedman Dr
$508,000 6/10/14
3
Mornington East
8 Warilda Crt
$472,000 6/10/14
538m2 land
4
Mornington East
3A Moorhead Ave
$560,000 8/10/14
401m2 land
3
Mornington East
11 Summerfield Dr
$699,000 10/10/14
Mornington East
8/10 Maxwell St
$500,000 13/10/14
300m2 land
3
Mornington East
25 Nichols Dr
$410,000 17/10/14
589m2 land
Mornington East
257 Dunns Rd
$740,000 17/10/14
2,043m2 land
Mornington East
3 Beal Place
$Undisclosed 23/10/14
704m2 land
4
Mornington East
8 Hutchins Park Close
$460,000 25/10/14
630m2 land
3
Mornington East
17/7 Cranswick Ct
$330,000 28/10/14
Mornington East
11 Ginnie Crt
$515,000 28/10/14
645m2 land
Mornington East
113 St Mitchell Circuit
$540,000 28/10/14
846m2 land
Mornington East
61 Summerfield Dr
$812,500 29/10/14
1,453m2 land
4
Mornington East
9/10 Maxwell
$515,000 16/7/14
300m2 land
3
Mornington East
7 Jamboree Close
$472,000 01/11/14
Mornington East
8/10 Maxwell Street
$500,000 03/11/14
300m2 land
3
Mornington East
13 Caversham Dr
$599,950 13/12/14
5
Mornington East
5/2 Alameda Avenue
$345,000 05/11/14
Mornington East
22 Katherine Ct
$660,000 6/11/14
Mornington East
1/24 Oakland St
$Undisclosed 07/11/14
2
Mornington East
18 Moorhead Ave
$500,000 08/11/14
1,117m2 land
3
Mornington East
9 Darcy St
$578,000 11/11/14
871m2 land
4
Mornington East
38 Killingholme Dr
$Undisclosed 11/11/14
678m2 land
4
Mornington East
6 Hutchins Park
$Undisclosed 13/11/14
690m2 land
3
Mornington East
10 Coney Hurst Crt
$722,000 14/11/14
770m2 land
4
Mornington East
38 Noah Close
$592,500 15/11/14
Mornington East
3 Billabong Cl
$510,000 18/11/14
500m2 land
3
Mornington East
70 Summerfield Dr
$625,000 14/11/14
Mornington East
5 Bay Rise Drive
$478,000 22/11/14
698m2 land
3
Mornington East
12 Knighton Ct
$545,000 23/11/14
703m2 land
Mornington East
4A Alameda Ave
$565,000 29/11/14
631m2 land
4
Mornington East
11/99 Bentons Rd
$Undisclosed 02/12/14
406m2 land
3
Mornington East
36 Samantha Dr
$Undisclosed 05/12/14
4
Mornington East
48 Wensleydale Drive
$620,000 06/12/14
1,004m2 land
4
Mornington East
9 Marquis Ave
$662,000 06/12/14
4
Mornington East
32 Samantha Dr
$Undisclosed 07/12/14
824m2 land
4
Mornington East
2 Swallows Crt
$Undisclosed 12/12/14
880m2 land
3
Mornington East
4 Botany Walk
$535,000 12/12/14
794m2 land
3
Mornington East
17 Aimee Crt
$580,000 18/12/14
720m2 land
4
Mornington East
2/9 Van Ness Ave
$427,000 24/12/14
460m2 land
2
Mornington East
44 Parkside Cr
$500,000 30/12/14
715m2 land
3
Mornington East
3 Maxwell Street
$520,000 15/12/14
904m2 land
3
Mornington East
12 Hutchins Park
$480,000 31/12/14
589m2 land
3
Looking to buy? Talk to the people who’ve walked the walk
and can put you into the houses you want to see!
We’re sure you’ve got enough on your plate this Summer with families,
holidays and just everyday living. Looking for a new home can be exciting...
But also time consuming and repetitive.
Talk to us, let us know what you’re looking for. We have the local
knowledge and contacts to streamline your search and we’ll gladly do the
legwork for you.
Call us now and we can arrange a suitable time to discuss you options, then
you can put your feet up!
Darren Sadler
T: 0417 916 820
Tony Davis
T: 0428 488 355
Mount Martha
2 Settlers Way
$381,000 03/10/14
592m2 land
3
Mount Martha
15/26 Green Island Av
$470,000 06/10/14
3
Mount Martha
32 Windmill Parade
$685,000 11/10/14
629m2 land
4
Mount Martha
19 Flora Rd
$428,000 14/10/14
770m2 land
3
Mount Martha
30 Elspeth Circuit
$560,000 15/10/14
540m2 land
3
Mount Martha
3 Elspeth Circuit
$554,000 15/10/14
540m2 land
4
Mount Martha
8 Acacia St
$450,500 16/10/14
661m2 land
3
Mount Martha
17 Veda Ave
$627,500 27/10/14
860m2 land
4
Mount Martha
20/90 Bentons Rd
$450,000 28/10/14
3
Mount Martha
25 Windmill Pde
$Undisclosed 31/10/14
621m2 land
3
Mount Martha
7 Homestead Lane
$Undisclosed 05/11/14
495m2 land
4
Mount Martha
34 Elspeth Circuit
$547,500 08/11/14
3
Mount Martha
34 Marriott Dr
$550,000 20/11/14
606m2 land
4
Mount Martha
46 Marriott Dr
$Undisclosed 20/11/14
4
Mount Martha
8 Swales Crt
$Undisclosed 20/11/14
689m2 land
4
Mount Martha
47 Trafalgar Square
$600,000 25/11/14
3
Mount Martha
2 Avery Crt
$Undisclosed 29/11/14
4
Mount Martha
43 Trafalgar Square
$Undisclosed 05/12/14
599m2 land
4
Mount Martha
7 Henrietta Pl
$505,000 09/12/14
4
Mount Martha
14/76 Harrap Rd
$480,000 12/12/14
Mount Martha
14 Hyperno Way
$Undisclosed 15/12/14
3
Mount Martha
10A Stanton Close
$550,000 16/12/14
5
Mount Martha
4 Seachange Crt
$580,000 17/12/14
584m2 land
4
Mount Martha
8 Helen St
$Undisclosed 18/12/14
3
Mount Martha
47 Paperbark Dr
$485,000 22/12/14
3
Mount Martha
46 Marriott Drive
$550,000 22/12/14
Mount Martha
21 Acacia St
$Undisclosed 22/12/14
3
Mount Martha
20 Florence St
$Undisclosed 23/12/14
630m2 land
4
Mount Martha
18 Esperance Crt
$565,000 24/12/14
512m2 land
4
Mount Martha
1 Reginald Way
$1,000,000 31/12/14
Call us today and
we’ll find you your
DREAM property!
Summer is always a
good time to move!
REAL ESTATE AD-VICE:
Don’t allow the state of the market to put your plans on hold while
you wait for a better market.
When you’re selling and buying at the same time it MAKES LITTLE
DIFFERENCE what the market is doing. In a down market you may
sell for less but you can also buy for less. If you wait for the market
to improve in order to sell for more you will also be paying more
when you buy!
Don’t waste your time and energy waiting for the market to
improve. Make the move to where you want to be living and get
on with your life today!
KATHY NETHERCLIFT 0417 007 722
Director, Licensed Estate Agent
Being a local Real Estate agent for
the last 22 years, Kathy’s
experience and genuine passion
for property in this area is second
to none! Her reputation for integrity
& outstanding results has lead to
strong business growth which is
built on referrals & repeat business.
DARREN HOOD 0419 666 126
Director, Licensed Estate Agent
& Property Specialist
Selling, marketing and negotiat-
ing has been Darren’s business for
the last 23 years, and he is well
known for his friendliness & ability
to put people at ease! Darren
loves to make buying
and selling homes fun!
THE DIRECTORS...
JADE HADERUP 5976 1188
Sales Support & Office Supervisor
Jade is our manager of “first
impressions”, she embraces her
role with enthusiasm, efficiency
and a sunny disposition. She is or-
ganised, approachable and a
great communicator!
SARAH WALSH
Assistant Property Manager
Sarah joined Blue Water Bay Real
Estate with over eight years
experience within the Real Estate
industry, in many various roles
including Property Management,
Holiday Rental & Sales Support!
BIANCA EASTERBROOK
Property Manager
With over 10 years’ experience
Bianca has developed an extensive
knowledge of the industry, she is
highly organised, approachable
and creates the ideal link between,
Landlords and tenants in every
circumstance.
ALEXIS DULLARD
Marketing & Administration
Alexis has excellent customer
service skills and first class ‘people
skills‘ and with her outstanding
administrative abilities she enjoys
adding new marketing innovations
and keeping us high-tech
DARREN SADLER 0417 916 820
Property Specialist
Specialising in the Bentons areas is
the key to our success. Couple that
with listening to what people want
and treating them with respect and
you have the ingredients for an
enjoyable experience, buying or
selling!
SUZANNE WARNECKE 5976 1188
Sales Assistant
As a resident of Mount Martha and
Mornington all her life, Suzanne has
firsthand experience of the local
area, its residents and lifestyle
benefits. Meeting new people and
building lasting relationships is a
high priority for Suzanne.
THE SALES TEAM...
PROPERTY MANAGEMENT TEAM...
OFFICE ADMINISTRATION...
Words from our clients...
When we found a property through Darren, we decided to put our current home on the market
immediately, and although we were very happy with Darren’s service, we thought it prudent to
meet with several other agents. Inevitably, Darren outshone them all. He was honest and
forthright in his valuation and opinion of our home (unlike the other agents, who over-valued in an
attempt to get our listing), and gave us valuable advice to help secure a sale. He also negotiated
our settlement requirements with no hassle. We sold the house the week it went on the market –
and we couldn’t be happier with the outcome. Darren should be your first port of call if you are
buying or selling in Mornington – no question. BILLY WORTH
I had the pleasure of dealing with Kathy Netherclift from Blue Water Bay Real Estate for the sale of
my house. I found her and her team to be very professional, motivated and easy to
communicate with. Kathy had an inspection organised before I even had a chance to sign on
the dotted line and my house was sold in just a few days, what a relief. Kathy made the process
stress free and explained things in simple language. I cannot recommend her highly enough.
DAVID TAINSH
Having sold 14 houses in the past, we were really looking for a fresh approach this time. We
contacted Blue Water Bay for an evaluation and we were immediately impressed by their
enthusiasm for our property to such an extent that we decided not to seek a second evaluation
through another agency. We have since sold a second house through Blue Water Bay and have
no hesitation in recommending BWBRE to anyone thinking of selling their home. Blue Water Bay
place emphasis on the team approach, no complacency, only pure motivation and genuine
friendliness, which is extremely refreshing. WAYNE & GILL MILLER
Relax...Owning an investment property
should be a rewarding experience!
If you’re concerned about how well your property is being
managed... You really need to talk to me! I can arrange a
suitable time to discuss your property investment options and
even arrange a free rental appraisal.
Then you can sit back and relax, reassured that you’re in good
hands. Bianca Easterbrook
03 5976 1188
It’s all about...
Beatty Parade, Mornington Maxwell Street, Mornington Warilda Court, Mornington
Ruby Cove, Mount Martha Nepean Highway, Mornington Kent Street, Mornington
So if you want to see a sign outside your home, call the
Blue Water Bay Team and ask for your FREE market appraisal!
SOLD
IN 1
0
DAYS
SOLD
IN 6
DAYS
SOLD
ON
AUC
TION D
AY
SOLD
IN 9
DAYS
The Summer selling season is here and homes are selling in record time.
We are taking bookings for SOLD signs
SOLD
IN 1
DAY
RECO
RD PRIC
E
Warilda Court, Mornington Acacia Street, Mount Martha
Kent Street, Mornington Settlers Way, Mount Martha
So if you want to see a sign outside your home, call the
Blue Water Bay Team and ask for your FREE market appraisal!
SOLD
IN 1
8 DAYS
SOLD
IN 2
7 DAYS
SOLD
IN 1
1 DAYS
SOLD
IN 1
2 DAYS
Nichols Drive, Mornington
The Summer selling season is here and homes are selling in record time.
We are taking bookings for SOLD signs
Veda Avenue, Mount Martha
Shop 37A Bentons Square Shopping Centre
Mornington, VIC, 3931
P 03 5976 1188
www.bwbre.com.au
“Our approach is based on creating long lasting, genuine
relationships, that withstand the test of time...”