HS Caulfield - 'The Local Report - 01' Issue3/2017

What’s ‘in’ for Spring 2017?

estate for decades, will know, that any minor increase won’t affect those looking for quality properties. First home buyers are having renewed confidence, with the Westpac-Melbourne Institute consumer confidence gauge showing growth of 0.4 per cent in July, and its sub-index, suggesting if now is a good time to buy or not, growing 3.1 per cent in the month, posing the most significant increase this year. Westpac’s chief economist, Bill Evans, said that the renewed confidence was a 36 per cent surge among

25-34 year olds realizing it’s a great time to buy. The reduction in stamp duty savings for first home buyers has really hit the market, with data revealed by Westpac indicating that the level of first home buyers taking out a mortgage was at its highest in over two years. Demand for owner-occupier loans were on the rise, and investors are more reluctant to enter the market. So what’s in the market for the rest of 2017? Our vendors are still getting rewards if they take the professional advice they’ve been given, from appointing an experienced team, maintenance, styling and enlisting a well-designed marketing campaign to setting realistic price expectations. With a current lack of properties on the market, there is still high buyer demand making Spring set to be strong. However, the market has the ability to change quickly, so if you’re thinking of selling or want an update on your property’s value, give hockingstuart a call to know where you stand.

Marshall Rushford Director | Auctioneer 0418 396 981 mrushford@ hockingstuart.com.au

The market indicates that Spring 2017 will remain strong in the real estate sector due to the record-low interest rates and the decrease in stamp duty for first home buyers. There have been forecasts suggesting that interest rates will increase, which could change the marketplace. However, those who have been buying and selling real

Local insights from our Red Report Our expert agents in Glen Eira and Bayside have shared their top two trends and predictions for the local market in late 2017. Apartments in high demand Demand for larger apartments and townhouses has increased as buyers are pushed out of the detached-dwelling market. Influx of Sydney-siders With the cost of living rising in Sydney, people are relocating to Glen Eira and Bayside as it offers a similar beachside and lifestyle at a lower cost.

The market indicates that Spring 2017 will remain strong

Recently Sold Properties

2 Campbell St, Brighton

49 Northcote Ave, Caulfield North 308 Bambra Rd, Caulfield South

13 Edward St, Elsternwick

SOLD $2,290,000

SOLD $1,520,000

SOLD $1,263,000

SOLD $2,475,000

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Auction versus private sale

Deciding on the best method of sale for your property. There are many ways to sell your home, including; sale by tender, expressions of interest and sale by set date. However, in Victorian residential Real Estate, sale by auction and sale by private treaty (private sale) have proved to be the most successful. An auction is when prospective buyers come together to bid for your property on a specified, pre-agreed date and time, with the highest bidder buying the

The benefits of a private sale A private sale gives you greater control over the sale price: you decide (with your agent’s expertise and guidance) the price at which you will be happy to sell your property. Your agent will then negotiate the price with prospective buyers privately. With marketing support, the timeframe of a private sale can be successfully managed to suit you. Making a decision The method of sale for your property is ultimately your

property (subject to the reserve price being met). A private sale on the other hand, has no fixed time frame – the property is on the market until it sells. The benefits of an auction The real benefit of an auction is its capacity to focus buyers’ energy on a single point in time, when they are single- minded in their ambition to buy. The public forum of an auction also tends to pit bid against bid. Encouraged by emotion and competitive spirit, this can lead to a higher price.

choice. When weighing-up the pros and cons ask your agent: • What is the most common or popular method of sale in your area? • Which method is likely to achieve the highest price? • Which method is your agent recommending and why? Your hockingstuart agent is a valuable resource. Call on your agent’s experience and expertise to explain the processes clearly so you will be comfortable with whatever method of sale you choose.

hockingstuart T. 03 8532 5200 M. 0418 396 981 mrushford@hockingstuart.com.au

If any other agent has a current exclusive agency agreement in relation to this property, please disregard this communication.

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