property update spring 2013

PROPERTY UPDATE SPRING 2013

TAlk TO A PORT MElbOURNE ExPERT

We knoW bayside best

IN THIS ISSUEMARkET UPDATE

FOCUS ON PORT MElbOURNE -SOME FACTS AND FIGURES

PROPERTY OF THE MONTH!7 CANbERRA PARADE, PORT MElbOURNE

A SElECTION OF CURRENT lISTINGS

WE DElIVER PORT MElbOURNE

MARkET UPDATEThe inner Bayside market has performed increasingly well in 2013, with the momentum of the second quarter continuing to build in the third, with 100 sales recorded in Port Melbourne and an impressive auction clearance rate still above 70% most weekends.

Buyer enquiry has increased over the past several months, many more people are attending our open days and a greater number of bidders are competing at our auctions.

The Garden City sales market has strengthened, with substantially-renovated homes achieving higher prices than ever before. This part of Port Melbourne can no longer be considered the poor neighbour to Beacon Cove, with the sale of a Bank House for well in excess of $2m, and a re-built Ex-Ministry Home selling for $1,620,000 (it’s pair achieving $1,950,000 in the previous quarter).

Beacon Cove has been consistent, again recording 11 sales for the quarter but with a better range of properties and price ranges. Sale highlights included a couple of 3 bedroom + study homes achieving over $1,600,000, a 4 bedroom home achieving over $2m and several corner apartments with water views selling between $1,325,000 and $1,540,000.

With regards to the traditional area of Port Melbourne, the number of house sales has been pretty consistent between the second and third quarters, with 32 and 35 deals respectively; the exciting news for home owners is that there have been a couple of big sales around $2m – we have not seen prices at this level with any frequency since 2010.

Apartment activity has also been consistent, with 44 sales recorded for the quarter, slightly down from 49 deals between April and June. Looking at the results in more detail, 2 bedroom apartments accounted for 66% of the sales, 1 bedroom apartments accounting for 22% of the market, with the remaining 12% offering 3 or more bedrooms. The greatest price movement has been with the larger, better proportioned apartments and these continue to be in short supply.

In summary, the market is strong and buyers are keen to secure quality properties across all price ranges. So if you are looking to make the most of the opportunities available, please call us. You may be pleasantly surprised what your property is worth in today’s market.

Thinking of Selling? List with Port Melbourne’s most successful agency.

Contact David Lack 0418 996 265 Will Jonas 0419 335 519 Vanessa Gavran 0403 302 377

Biggin & Scott Port Melbourne Pty Ltd Telephone: 8671 3777 100 Bay Street, Port Melbourne

www.bigginscott.com.au/portmelbourne

PROPERTIES PRICES

• 35 sold • HigHest $1,850,000

• 22 currently on tHe market • lowest $690,000

PROPERTIES PRICES

• 44 sold • HigHest $2,050,000


TRADITIONAl PORT MElbOURNE – JUlY TO SEPTEMbER 2013

House MaRket

apaRtMent MaRket

95 HeatH stReet

408/1 danks stReet West

soLd $1,003,000

soLd $622,500

104 pRinCes stReet

401/88 beaCH stReet

soLd $1,305,000

soLd $1,100,000

oCToBEr 2013 www.bigginscott.com.au/portmelbourne

PROPERTIES PRICES

• 6 sold • HigHest $1,620,000


PROPERTIES PRICES

• 4 sold • HigHest $2,430,000


GARDEN CITY – JUlY TO SEPTEMbER 2013

ex-MinistRy House MaRket

bank House MaRket

305 tHe bouLeVaRd 2 WeeRoona stReet

70 pooLMan stReet

soLd $1,326,000 soLd $1,620,000

soLd pRiCe undisCLosed17 WaLteR stReet

soLd $1,055,000


PROPERTIES PRICES

• 5 sold • HigHest $2,090,000

• 5 currently on tHe market • lowest $1,070,000

PROPERTIES PRICES

• 6 sold • HigHest $1,540,000


bEACON COVE – JUlY TO SEPTEMbER 2013

House MaRket

apaRtMent MaRket

7 beaCon Road

902/107 beaCH stReet

soLd $1,070,000

soLd $1,055,000

5 CooGee pLaCe

1101/127 beaCH stReet

soLd pRiCe undisCLosed

soLd $1,540,000


SEClUDED ElEGANCE

7 CANbERRA PARADE, PORT MElbOURNE

auction: 26th OCTObER AT 12.30pm


Meticulously maintained 2 storey executive residence in sought after pocket of Beacon Cove featuring fabulous indoor and outdoor entertaining. Enjoy the peace and privacy of your own fully landscaped garden, and the benefits that inner bayside living has to offer.

•3greatbedrooms,allwithbuilt-inrobes (main with ensuite and balcony)

•2bathroomsplusseparatepowderroom

•Spaciouslivingandseparatedining/familyarea both opening onto alfresco courtyard

•Fully-appointedgranitekitchenwithstainless steel appliances

•Largeseparatelaundryandstoreroom

•Ductedairconditioning/heatingthroughout

•Remotelock-upgaragewithbuilt-instorage & handy space behind for 2nd car

•Manyqualityadditionsthroughoutforstylish & easy living.

Bathed in sunlight you will enjoy the spaciousness of the large rooms, the proximity to the beach, light rail, the city and vibrant Bay Street shops. An executive residence worth waiting for!


9 Park square, Port melbourneauction: saturday 26th october at 11.00am

100 raglan street, Port melbourneauction: saturday 26th october at 2:00pm

15 Bridge street, Port melbourneauction: saturday 16th november at 12.30pm

407/2 rouse street, Port melbourne auction: saturday 30th november at 11.00am

209/54 nott street, Port melbourneauction: saturday 7th december at 10.30am

101/52 nott street, Port melbournePrivate sale

If another agent has an exclusive authority currently on your property please disregard this notice.

A SElECTION OF OUR CURRENT lISTINGS

To find out how, speak to David, Will or Vanessa during one of our open homes or grab a business card and contact us.

They are a proven and successful team, with 33 years combined experience selling homes all over Port Melbourne and surrounds.

www.bigginscott.com.au/portmelbourne

WOUlD YOU SEll YOUR HOME IF YOU DIDN’T HAVE TO PUT IT ON THE MARkET?

property update spring 2013

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