Commercial This Week 22 Feb 2010

NEW COMMERCIAL LISTINGS FOR HODGES
Looking for a commercial property at the centre of town? You must view 49 FLORENCE STREET, MENTONE. Superbly located within the main Mentone Shopping Centre, it’s close to the post office, opposite large Council carpark, and securely leased on long lease to “Florence Cafe”.

• Area is 88 square metres.
• Separate Certificate of Title
• 3 year lease plus three x three year option periods
• Rental $16,800 + GST + 100% of outgoings
• Lease commenced October 2007
• Market review October 2010
• Zoned Business 1
• Private Sale $475K

View this commercial sale property at www.hodges.com.au/sale/1548435/49florencestreetmentone.html

A rare opportunity to purchase land with high visual exposure is available for the astute buyer at 308 KINGSTON ROAD, CLARINDA The land area is 30,233sqm (3.022 hectares or 7.47 acres) with a wide 202.11 metre frontage. Zoned green wedge zone – schedule 4.For further details contact sole agent – Peter Gordon – Hodges Commercial – 0412 890 111 / 9591 6588, or visit www.hodges.com.au/sale/1512826/308kingstonroadclarinda.html

For more Commercial sale and lease properties online visit Hodges Commercial Brighton, or phone Hodges Commercial Brighton on 03 9591 6588.

WHAT’S ON IN BRIGHTON & SURROUNDS:

BRIGHT N SANDY FOOD AND WINE FESTIVAL 2010
The sixth annual Bright N Sandy Food and Wine Festival will be held on Sunday 21 March from 11am to 6pm at Green Point, Brighton Beach Gardens.
A tempting array of dishes from local cafes and restaurants will tantalise your tastebuds. Local wines are on offer. Musical talent to entertain you, activities for the kids and celebrity chefs complete a relaxed and indulgent day.

This year’s highlights include:

• Abby Dobson and band (ex-Leonardo’s Bride)
• Chefs Paolo D’Angeli from the Republic of San Marino
• Michele Cranston of marie claire cookbooks
• Kids’ handmade pasta making workshops
• Quirky roving theatre meets gourmet cuisine
• Exhibits
• Hand- picked entertainment and other activities

This is NOT a free event.
For more information, program and costs, visit the Bright n Sandy Festival Website

Brighton – The Great Australia Day Swim 2010

WHAT’S ON IN BRIGHTON

Brighton is gearing up for the Great Australia Day Swim for 2010!

At 11:00am on Tuesday 26 January, swimmers will start a 1.2 Km swim from Middle Brighton Pier, around the Royal Brighton Yacht Club marina and breakwater, finishing on the beach beside the iconic Middle Brighton Baths.

The pier, Breakwater and Beach walkways will provide magnificent viewing platforms for the swim and there will be music and BBQ food provided on the lawns adjoining the Pier and Baths.

Hodges Real estate are a major partner supporting the event and Director Campbell Cooney and Sarah Genau from Hodges Brighton will be assisting on the day.

For more info about the Great Australia Day Swim, visit: www.greataustraliadayswim.com.au.

C/o www.greataustraliadayswim.com.au

FRESH REAL ESTATE IN BRIGHTON

Hodges Real Estate currently have a number of outstanding sale and lease properties available in Brighton and Brighton East.

New listings include 13 Churchill Court BRIGHTON EAST. This beautiful property, with four double size bedrooms, is in a class of its own. A must to view at www.hodges.com.au/sale/1536220/13churchillcourtbrightoneast.html

Space, style, serenity & sunlight meet cutting edge contemporary beauty at the newly listed 38 Summerhill Road BRIGHTON EAST. Inspect this weekend, or have a sneak peek via the property’s very own website: www.38summerhillroadbrightoneast.com

To view more Brighton properties, visit www.hodges.com.au/brighton-real-estate.html and www.hodges.com.au/brighton-east-real-estate.html

Strong clearance rates and sales achieved yet again – Saturday 27th June REIV Results

Another strong clearance rate achieved this weekend demonstrates buyer confidence in the residential property market. It has been some while since we have seen clearance rates consecutively this high and there is some speculation as to how long this trend will continue for. Is it a blip in the market or is it sustainable activity that can be maintained in the future?  I am cautious to predict the future of the property market, but one thing I can strongly suggest, is that anyone who is considering putting their home on the market should consider the assurity of today VS crystal ball gazing and  a fingers crossed strategy for the future.

This weekend the REIV reported:

The four weeks until today has seen a greater number of reported sales – auction and private sale – than the corresponding four weeks in 2007, a clear sign that the Melbourne residential property market is strong and buyers are confident.

The clearance rate was 87 per cent this weekend from a total of 450 reported auctions, this is the seventh time in a row above 80 per cent.

There were 390 homes sold by auction today and 60 passed in, of which 37 were passed in on a vendors bid.

With just under 300 homes scheduled for auction next weekend competition will be high.

TOTAL AUCTIONS

This week: 450
Last weekend: 540
This weekend last year: 477

S Sold at Auction: 301
SB Sold before Auction: 87
SA Sold after Auction: 2

Passed in: 60
Passed in on vendor’s bid: 37

Clearance rate: 87%

Postponed: 0
Withdrawn: 0
Auctions with no result: 31

PS Private Sales: 675

 

Total Volume (Auctions): $279.74mil
Total Volume (Private Sales): $308.06mil

 

Total Auctions Houses: 291
Clearance Rate: 87%
Median Price: $642,000

 

Total Auctions Flats/Apartments: 151
Clearance Rate: 87%
Median Price: $504,000

 

Total Auctions Vacant Land: 7
Clearance Rate: 71%
Median Price: $290,000

 

House Sales in Detail

TOP 5 HOUSES
1. 64 Hopetoun Road, Toorak $7,075,000
2. 428-430 Tooronga Road, Hawthorn East $3,050,000
3. 95 Cochrane Street, Brighton $2,850,000
4. 10 Charles Street, Brunswick $2,580,000
5. 74 Park Street, South Yarra $2,520,000

TOP 5 BARGAIN HOUSES
1. 8 Valerie Drive, Cranbourne $204,000
2. 22 Genoa Way, Cranbourne West $249,500
3. 5 Care Close, Meadow Heights $265,000
4. 3 Yeovil Court, Craigieburn $276,000
5. 7 Stephenson Street, Lara $280,000

 

Flat/Apartment Sales in Detail

TOP 5 APARTMENTS
1. 34/8 Trenerry Crescent, Abbotsford $1,375,000
2. 25 Thomas Street, Kew $996,000
3. 4&6/16 Victoria Street, Brighton $935,000
4. 2D Warley Road, Malvern East $890,000
5. 5/11 Motherwell Street, South Yarra $860,000

TOP 5 BARGAIN APARTMENTS
1. 7/121 Anderson Road, Albion $141,000
2. 4/46 Kingsville Street, Kingsville $173,000
3. 23/50 Middle Road, Maribyrnong $195,000
4. 2/7 Tarwin Place, Meadow Heights $227,000
5. 18/45 Woolton Avenue, Thornbury $230,000

 

Recent Vendor Testimonials

June 2009

After all dealings with our vendors and purchasers we ask that they fill out a response questionnaire grading our level of service.

Working in an industry that is frought with negative experiences whilst dealing with inexperienced and unprofessional Real Estate Agents, the testimonials below demonstrate the level of care and professionalism I offer to my clients – both vendors and purchasers.

21st May 2009 Mrs Leonie Vincent – Purchaser of 6 Walstab St, Brighton East

Q. Did you percieve that Hodges offered any advantages over other companies you dealt with? If so what were they?

A. Honesty, integrity, good follow up, great customer service

29th May 2009 Mrs Marian Sanderson – Vendor of 8 Hayball Court Brighton

I highly recommend using Hodges and working together with Campbell. He was so professional and was happy to help me in anyway that I needed. They were constantly in touch with me, and updating me so at no time did I wonder what was happening. Because of all their hard work, the Auction was a huge success and exceeded my expectations. I could not be happier with the whole experience.  

 

 

House prices expected to rise as much as 22% over the next 3 years say economic forecasters

“The conditions are ripe for a sustained recovery in residential property prices,” according to BIS Shrapnel’s Residential Property Prospects, 2009 to 2012, report.

“Low interest rates, solid growth in rents and housing shortages are evident in most markets.

“However, the current economic malaise will mean confidence will only recover slowly during 2009/10.”

BIS Shrapnel senior project manager and study author Angie Zigomanis said that, at this stage, all of the action was occurring at the lower-priced end of the market.

This is due to a surge in first-home buyer demand as a result of the federal government’s first home owner boost scheme and low interest rates, he said.

BIS Shrapnel forecasts there will be 180,000 first-home buyers in 2009.

Although first-home buyer demand was expected to ease after the expiry of the government’s boost scheme at the end of 2009, upgraders and investors were expected to take the baton, Mr Zigomanis said.

“We expect rising confidence in the prospects for an economic recovery in 2010, so investors are likely to return in greater numbers, attracted by increased rental returns and low interest rates.”

Among the state capitals, Sydney, Melbourne and Adelaide will show the strongest price growth over the next three years, at 19 per cent.

More moderate growth is expected in Brisbane, Hobart, and Canberra, while price growth in Perth and Darwin is expected to be weak as the local economies of these cities are impacted by a decline in investment spending in the resources sector.

BIS Shrapnel estimates Sydney’s median house price at June 2009 to be $530,000, and predicts it will rise by mid-2012 to $630,000.

Melbourne’s current median house price is estimated at $425,000, rising to $507,000 by June 2012.

In Adelaide, the median price is estimated at $360,000 and predicted to climb to $430,000 over the three years.

Among other cities around Australia, Newcastle and Wollongong are expected to benefit from the migration of residents from Sydney over the coming years.

The median house price in Newcastle is expected to soar 22 per cent over the three years, while Wollongong is forecast to see growth of 20 per cent in the same period.

In Brisbane, the average house is estimated to cost $391,000 now and is expected to cost $455,000 by mid-2012, an increase of 16 per cent.

Hobart’s median house price is estimated to be $335,000 and will rise by 15 per cent to $385,000 over the three year period.

An average house in Canberra is estimated to cost $440,000, increasing to $515,000 by 2012, a rise of 17 per cent.

In Perth, the estimated median house price is $425,000, expected to reach $475,000 in three years, up 12 per cent.

Darwin’s forecast median house price is $470,000, predicted to show an increase of 11 per cent over the three years.

For the Gold Coast, the Sunshine Coast and Cairns, BIS Shrapnel forecasts prices will increase by 14 per cent, while Townsville prices are expected to grow 13 per cent over the three years.

Property Boom Time – Strongest Auction Clearance rates since Aug 2007!

Today the residential auction market delivered the best result in around 18 months which is an exceptional outcome and will provide anyone considering selling in spring with a great deal of confidence.

The clearance rate reached 86 per cent from the 526 auctions reported.

The last time the clearance rate was at this rate was the 28th of August 2007 when it also reached 86 per cent.

A total of 453 homes sold and 73 were passed in, 37 of which were passed in on a vendors bid.

The REIV is expecting just under 500 auctions next weekend.

 

 

TOTAL AUCTIONS

This week: 526
Last weekend: 527
This weekend last year: 551

S Sold at Auction: 378
SB Sold before Auction: 70
SA Sold after Auction: 5

Passed in: 73
Passed in on vendor’s bid: 37

Clearance rate: 86%

Postponed: 0
Withdrawn: 0
Auctions with no result: 28

PS Private Sales: 797

 

Total Volume (Auctions): $286.31mil
Total Volume (Private Sales): $336.45mil

 

Total Auctions Houses: 328
Clearance Rate: 87%
Median Price: $597,500

 

Total Auctions Flats/Apartments: 186
Clearance Rate: 85%
Median Price: $440,000

 

Total Auctions Vacant Land: 12
Clearance Rate: 83%
Median Price: $293,500

 

House Sales in Detail

TOP 5 HOUSES
1. 10 Murphy Street, Brighton $3,500,000
2. 2 Lorac Avenue, Brighton $3,475,000
3. 1097-1099 Malvern Road, Toorak $3,150,000
4. 7 Cosham Street, Brighton $2,970,000
5. 76 Were Street, Brighton $2,250,000