Quarterly Market Review

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LOCAL HOUSING MARKET STEADY

P

roperty prices across Whitehorse and Maroondah remain steady. After three years of boom prices, markets have returned to normal. Auction day clearance rates are currently around 70% for the Mitcham area, down from over 80% this time last year. Our office is proud to have achieved a 98% clearance rate in this time, well above all of our competitors.

If you are upsizing or downsizing, 2016 could be a great time to move as buyers and sellers have similar bargaining power in a normal market. Investors should note that rents are also flat, and therefore rental yields remain steady at around 2% for houses and 3% for units.

MAY/JUNE

2016

Mitcham and Surrounding Suburbs

Quarterly Market Review

Contact us today to learn how we can take the stress out of buying, selling or renting.

MEDIAN HOUSE PRICE (REIV) MITCHAM VERMONT VERMONT SOUTH NUNAWARDING FOREST HILL BLACKBURN BOX HILL RINGWOOD RINGWOOD EAST RINGWOOD NORTH HEATHMONT

MAR 16

DEC 15

SEPT 13

932,500 840,000 1,100,000 863,000 877,000 1,135,500 1,500,000 790,000 741,000 805,000 789,000

930,000 849,000 1,049,000 896,000 869,000 1,188,000 1,375,000 837,500 760,000 840,000 775,000

632,000 650,000 780,000 650,000 650,000 830,000 840,000 535,000 560,000 660,000 580,000

YOUR RAY WHITE TEAM Principal: Principal/Auctioneer: Property Appraisals/Sales:

Building & Development: Property Management:

Janet Stubbs Mark Walsh Kim Seng Fang Melissa Carey Lilliana Djakovic Effie Sun Adam Harrison Monique Holgye Justin Schenk

0408 384 022 0403 294 828 0403 008 248 0421 464 236 0413 729 333 0401 132 862 0417 968 058 0428 212 559 0409 895 799

[email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected]

RAY WHITE MITCHAM ACHIEVES 98% AUCTION DAY CLEARANCE RATE If you would like any further information on the current property market, or for an updated market appraisal please contact:

Ray White Mitcham 554 Whitehorse Road, Mitcham 3132 - Phone: 9872 3995 - Email: [email protected]

COURTESY OF RAY WHITE MITCHAM

RECENT SALES

RECENT SALES

$757,000 2/61 Orient Avenue* Mitcham m 3 2 2 310 LAND

$1,060,000 3 Somers Street Mitcham 1 2 4

$950,500 6 Aroona Avenue Mitcham 2 1 3

$810,000 7 May Court Mitcham 3 1 1

2

m2

588 LAND

$910,000 70 Centre Road Vermont 4 2 0

m2

560 LAND

$885,000 76 Terrara Road Vermont 3 2 1

m2

597 LAND

$1,005,000 4 Wendouree Court* Vermont South m 4 2 2 816 LAND

$850,000 11 Stradella Avenue* Vermont South m 4 3 3 732 LAND

$802,000 10 Cochrane Street Mitcham m 2 2 3 309 LAND

$1,106,000 9 Cyprus Avenue Nunawading 4 2 2

$765,000 12 Lemon Gr* Nunawading 2 4 1

638 LAND

$820,000 12 Deep Creek Road Mitcham m 2 2 3 754 LAND

$858,000 24 Irene Cr Mitcham 2 3

$940,000 27 Jubilee Street Nunawading 2 4 2

$830,023 51 Worrell Street Nunawading 2 4 1

743 LAND

$1,206,000 25 Mountfield Road Mitcham m 2 4 2 661 LAND

$1,030,000 35 Burnett Street Mitcham 4 2 1

$1,470,000 18 Tisane Avenue Forest Hill 2 4 2

450 LAND

$1,425,000 36 Fellows Street Mitcham 2 4 2

$980,000 38 Haines Street Mitcham 3 1 0

$808,000 8 Nymph Street Mitcham 3 1 2

m2

649 LAND

m2

693 LAND

2

2

$1,150,000 49 Barkly Terrace Mitcham 2 4 2

m2

448 LAND

m2

709 LAND

2

1

m2

585 LAND

m2

963 LAND

m2

437 LAND

2

$937,000 3 Paul Road* Forest Hill 2 4 4

$900,000 50 Victor Court* Forest Hill 1 3 2 $760,000 7 Sang Court Ringwood 2 2 3

790 LAND

$1,505,000 52 Alwyn Street Mitcham 2 3 1

$1,750,000 69 Carween Avenue Mitcham m 2 4 2 868 LAND

$1,225,000 72 Percy Street Mitcham 4 2 3

$814,000 90 Orient Avenue* Mitcham 3 2 2

$643,000 356 Mitcham Road* Mitcham m 1 2 1 280 LAND

$695,000 13 Marcel Court* Ringwood North 1 3 1

$860,000 8 Mawson Court Vermont 1 2 3

764 LAND

$960,000 28 Oban Wds* Ringwood North 4 2 2

$925,000 12 Beaumont Street Vermont m 4 2 2 641 LAND

$966,000 17 Caroben Avenue Vermont m 4 2 2 535 LAND

$796,000 7 Raymond Court Ringwood East 2 4 2

$825,000 25 Orion Street* Vermont 4 1 2

$910,000 38 Lusk Drive* Vermont 3 2 2

$888,000 11 Miller Road Heathmont 6 3 2

m2

2

$870,000 3 Hindle Drive* Vermont 3 1 2

m2

575 LAND

m2

829 LAND

2

m2

541 LAND

m2

632 LAND

m2

720 LAND

2

m2

2

m2

619 LAND

$732,000 17 Valkyrie Cr* Ringwood 2 2 4

m2

590 LAND

m2

696 LAND

m2

528 LAND

m2

612 LAND

m2

653 LAND

m2

653 LAND

m2

674 LAND

m2

672 LAND

m2

870 LAND

m2

937 LAND

2

m2

m2

m2

$667,000 51 Heathcote Drive* Forest Hill m 1 2 1 253 LAND 2

$1,125,000 12 Tandarra Drive Ringwood 4 2 3

700 LAND

$860,000 20 Mundara Drive Ringwood 2 4 2

796 LAND

$850,000 20 Leslie Gr Ringwood North 3 2 2

732 LAND

$1,061,000 61 Summit Cr Ringwood North 4 3 2

980 LAND

m2

m2

m2

m2

$700,000 41 Pinewood Avenue Ringwood East m 3 1 1 695 LAND 2

$800,000 16 Kenbry Road Heathmont 3 2 2

m2

679 LAND

RECENT SALES

RECENT SALES

$757,000 2/61 Orient Avenue* Mitcham m 3 2 2 310 LAND

$1,060,000 3 Somers Street Mitcham 1 2 4

$950,500 6 Aroona Avenue Mitcham 2 1 3

$810,000 7 May Court Mitcham 3 1 1

2

m2

588 LAND

$910,000 70 Centre Road Vermont 4 2 0

m2

560 LAND

$885,000 76 Terrara Road Vermont 3 2 1

m2

597 LAND

$1,005,000 4 Wendouree Court* Vermont South m 4 2 2 816 LAND

$850,000 11 Stradella Avenue* Vermont South m 4 3 3 732 LAND

$802,000 10 Cochrane Street Mitcham m 2 2 3 309 LAND

$1,106,000 9 Cyprus Avenue Nunawading 4 2 2

$765,000 12 Lemon Gr* Nunawading 2 4 1

638 LAND

$820,000 12 Deep Creek Road Mitcham m 2 2 3 754 LAND

$858,000 24 Irene Cr Mitcham 2 3

$940,000 27 Jubilee Street Nunawading 2 4 2

$830,023 51 Worrell Street Nunawading 2 4 1

743 LAND

$1,206,000 25 Mountfield Road Mitcham m 2 4 2 661 LAND

$1,030,000 35 Burnett Street Mitcham 4 2 1

$1,470,000 18 Tisane Avenue Forest Hill 2 4 2

450 LAND

$1,425,000 36 Fellows Street Mitcham 2 4 2

$980,000 38 Haines Street Mitcham 3 1 0

$808,000 8 Nymph Street Mitcham 3 1 2

m2

649 LAND

m2

693 LAND

2

2

$1,150,000 49 Barkly Terrace Mitcham 2 4 2

m2

448 LAND

m2

709 LAND

2

1

m2

585 LAND

m2

963 LAND

m2

437 LAND

2

$937,000 3 Paul Road* Forest Hill 2 4 4

$900,000 50 Victor Court* Forest Hill 1 3 2 $760,000 7 Sang Court Ringwood 2 2 3

790 LAND

$1,505,000 52 Alwyn Street Mitcham 2 3 1

$1,750,000 69 Carween Avenue Mitcham m 2 4 2 868 LAND

$1,225,000 72 Percy Street Mitcham 4 2 3

$814,000 90 Orient Avenue* Mitcham 3 2 2

$643,000 356 Mitcham Road* Mitcham m 1 2 1 280 LAND

$695,000 13 Marcel Court* Ringwood North 1 3 1

$860,000 8 Mawson Court Vermont 1 2 3

764 LAND

$960,000 28 Oban Wds* Ringwood North 4 2 2

$925,000 12 Beaumont Street Vermont m 4 2 2 641 LAND

$966,000 17 Caroben Avenue Vermont m 4 2 2 535 LAND

$796,000 7 Raymond Court Ringwood East 2 4 2

$825,000 25 Orion Street* Vermont 4 1 2

$910,000 38 Lusk Drive* Vermont 3 2 2

$888,000 11 Miller Road Heathmont 6 3 2

m2

2

$870,000 3 Hindle Drive* Vermont 3 1 2

m2

575 LAND

m2

829 LAND

2

m2

541 LAND

m2

632 LAND

m2

720 LAND

2

m2

2

m2

619 LAND

$732,000 17 Valkyrie Cr* Ringwood 2 2 4

m2

590 LAND

m2

696 LAND

m2

528 LAND

m2

612 LAND

m2

653 LAND

m2

653 LAND

m2

674 LAND

m2

672 LAND

m2

870 LAND

m2

937 LAND

2

m2

m2

m2

$667,000 51 Heathcote Drive* Forest Hill m 1 2 1 253 LAND 2

$1,125,000 12 Tandarra Drive Ringwood 4 2 3

700 LAND

$860,000 20 Mundara Drive Ringwood 2 4 2

796 LAND

$850,000 20 Leslie Gr Ringwood North 3 2 2

732 LAND

$1,061,000 61 Summit Cr Ringwood North 4 3 2

980 LAND

m2

m2

m2

m2

$700,000 41 Pinewood Avenue Ringwood East m 3 1 1 695 LAND 2

$800,000 16 Kenbry Road Heathmont 3 2 2

m2

679 LAND

LOCAL HOUSING MARKET STEADY

P

roperty prices across Whitehorse and Maroondah remain steady. After three years of boom prices, markets have returned to normal. Auction day clearance rates are currently around 70% for the Mitcham area, down from over 80% this time last year. Our office is proud to have achieved a 98% clearance rate in this time, well above all of our competitors. If you are upsizing or downsizing, 2016 could be a great time to move as buyers and sellers have similar bargaining power in a normal market. Investors should note that rents are also flat, and therefore rental yields remain steady at around 2% for houses and 3% for units.

MAY/JUNE

2016

Mitcham and Surrounding Suburbs

Quarterly Market Review

Contact us today to learn how we can take the stress out of buying, selling or renting.

MEDIAN HOUSE PRICE (REIV) MITCHAM VERMONT VERMONT SOUTH NUNAWARDING FOREST HILL BLACKBURN BOX HILL RINGWOOD RINGWOOD EAST RINGWOOD NORTH HEATHMONT

MAR 16

DEC 15

SEPT 13

932,500 840,000 1,100,000 863,000 877,000 1,135,500 1,500,000 790,000 741,000 805,000 789,000

930,000 849,000 1,049,000 896,000 869,000 1,188,000 1,375,000 837,500 760,000 840,000 775,000

632,000 650,000 780,000 650,000 650,000 830,000 840,000 535,000 560,000 660,000 580,000

YOUR RAY WHITE TEAM Principal: Principal/Auctioneer: Property Appraisals/Sales:

Building & Development: Property Management:

Janet Stubbs Mark Walsh Kim Seng Fang Melissa Carey Lilliana Djakovic Effie Sun Adam Harrison Monique Holgye Justin Schenk

0408 384 022 0403 294 828 0403 008 248 0421 464 236 0413 729 333 0401 132 862 0417 968 058 0428 212 559 0409 895 799

[email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected]

RAY WHITE MITCHAM ACHIEVES 98% AUCTION DAY CLEARANCE RATE If you would like any further information on the current property market, or for an updated market appraisal please contact:

Ray White Mitcham 554 Whitehorse Road, Mitcham 3132 - Phone: 9872 3995 - Email: [email protected]

COURTESY OF RAY WHITE MITCHAM