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Grant’s Market Update

Grants Estate Agents

3/51 John St, Pakenham

(03) 5940 2555

pakenham@grantsea.com.au

Grant’s Market Update! ! ! !

1st Quarter 2014

Market on the up, will prices keep rising?In the September quarter Grants Market Update we predicted prices would begin to climb with renewed interest from local buyers.

We are now seeing this be the start of the next growth cycle. It’s looking like 2014 will see improving market wide conditions as the market continues to recover.

A number of factors are combining to drive the market higher in the first half of 2014, interest rates are now well under 5% vs last year when they were in the 6% - 6.5% range. This allows buyers to borrow more and creates greater competition for available properties for sale.

The share market has also seen a strong finish to the year, the All ordinaries index was around 4,400 last year but has climbed to 5,400 with company income multiples at strong levels investors are again looking for solid returns with reduced risk and have begun to rotate into investment properties again.

Auction clearance rates improved solidly over the last quarter of 2013 from 1st quarter levels around 55% to finishing the year above 75%, competition for quality property is continuing to climb.

SMSF’s are also active in the market looking for properties that will be securely leased, this is creating competition for first home buyers who are being left behind by rising prices.

It is encouraging that these positive signs have developed for the market in 2014, whilst it remains a recovery phase and there may be soft spots in the market in certain areas the outlook for City of Casey and Cardinia is certainly a positive one.

In looking ahead for 2014 we see continued improvement in demand from buyers with more interest in the South East corridor as inner suburbs become more and more expensive - an overflow effect if you will with buyers priced out of certain suburbs looking further out.

Inner city prices leading the way but South East corridor prices increasing over the next 3 years.

House prices continuing to outperform units values over the medium term.

Interest rates starting to climb in the 2nd half of 2014.

If you have any questions regarding your specific needs, Grants agents are here to help you with expert market knowledge and exceptional service. Grants are the leader in our marketplace and we look forward to helping you move.

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Grant’s Market Update! ! ! !

1st Quarter 2014

Ten reasons property prices will be 5-10% higher by July 20141. The Australian share market is reaching record highs, this is generating great wealth for many

Australians

2. Global economic conditions are improving we will benefit more than any other country

3. Record low interest rates are making property more affordable

4. We have a nationwide housing shortage now and into the future, so demand will outstrip supply

5. Cash & term deposit rates are falling making property a more attractive investment strategy.

6. Rents are continuing to climb providing investors increasing yields over the next few years

7. Self-managed super funds (SMSF) are eagerly investing directly in residential property

8. Luxury homes sales are improving for the first time in 2 years

9. The federal election is out of the way which will give great confidence to business and consumers

10. There’s less risk in buying property than any other asset, Australians will continue to love bricks and mortar for their future financial plans over the next 3-5 year cycle.

If you have any questions regarding your specific needs, Grants agents are here to help you with the areas most trusted real estate opinion. We sell more homes than anyone in Casey / Cardinia and having the biggest local sales team means we have a specialist in your area.

If you would like to find out what your home is worth simply call 5940 2555 for a FREE market appraisal.

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Henty Park / Arden Estate Many buyers looking to buy quality 3/4 bedroom

properties with DG, McGregor Rd, Pakenham sold in 2 weeks for record price in street.

Heritage Springs Estate Prices still improving as stock on market remains

low. Heritage Springs Blvd on mkt with other agent for 90 days, sold in 2wks above

expectations - interest above $500,000.

__ Lakeside Estate Recent sales in the $500,000 plus mark is

indicating that the higher end property prices are continuing to improve.

________________Pakenham Centre Recent sales results have shown increasing buyer interest. Ashton Place sold in 1 week

multiple bidders on property, sold above asking price.

Northside Pakenham Northside prices have remained steady with

plenty of buyers showing interest. Prices likely to start increasing more rapidly as current

properties for sale have decreased in numbers.

__ Officer Prices have remained steady during the 4th qtr,

increasing competition for 4 bd homes is seeing competitive bidding for quality homes.

Market Snapshot

Pakenham Market Update! ! ! !

1st Quarter 2014

Pakenham sales climbed as the year drew to a close, December being very busy with many buyers reentering the market and low numbers of houses on the market.

Lack of stock on market remains, buyers who have been sitting on the sidelines are now eager to buy taking advantage of low interest rates and positive media reports regarding market conditions.

Prices in the Cardinia shire are rising as less homes on the market combined with high prices in nearby suburbs take effect. Many buyers priced out of nearby suburbs are now looking to move into the area. Many properties are now seeing 7-12 buyers through open homes and multiple competing bidders trying to secure the property.

Strong local, first home buyer and investor demand is currently directed toward a far depleted supply. With limited supply on the market, confidence returning to the economy and buyers seeing Pakenham and surrounds as a safe and thriving market prices will continue to rise.

For more information on the Pakenham and Cardinia real estate market please visit our website at www.grantsea.com.au.

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$250,000 3/36 JOHN ST PAKENHAM, VIC 3810Map Ref: 317, D8 Sale Date: 11/11/13

Attributes: 2BED, 1BATH, 1LUG, 1995YR BUILTArea: 230 M

$250,000 2/9 HENTY ST PAKENHAM, VIC 3810Map Ref: 317, C9 Sale Date: 11/11/13

Attributes: 2BED, 1BATH, A/C, 5O/RMS, 1CAR, 1LUG, T/PORT, MROADArea: 184 M

$270,000 9 ROSALIE CT PAKENHAM, VIC 3810Map Ref: 317, C9 Sale Date: 04/12/13

Attributes: 3BED, 1BATH, 1CAR, 1LUGArea:

$314,000 15 JOSEPH CT PAKENHAM, VIC 3810Map Ref: 317, F7 Sale Date: 16/12/13

Attributes: 3BED, 1BATH, 1DIN, 2CAR, 2000YR BUILT, 102.00M2F, GRANNYFLATArea: 780 M

$320,000 5 HENTY ST PAKENHAM, VIC 3810Map Ref: 317, C9 Sale Date: 13/12/13

Attributes: 3BED, 1BATH, 1CAR, 1LUGArea:

$330,000 6 WISTERIA CT PAKENHAM, VIC 3810Map Ref: 317, C9 Sale Date: 17/10/13

Attributes: 3BED, 1ENS, 2BATH, 2CAR, 2LUGArea: 544 M

$335,000 100 MCGREGOR RD PAKENHAM, VIC 3810Map Ref: 317, B11 Sale Date: 20/11/13

Attributes: 4BED, 1ENS, 2BATH, 1LNG, 1RUMP, 2CAR, 2LUG, 2002YR BUILT,157.00M2F,

Area: 612 M

$342,000 18 ARDEN AV PAKENHAM, VIC 3810Map Ref: 317, D11 Sale Date: 10/12/13

Attributes: 3BED, 2BATH, 2CAR, OPENPLANArea: 481 M

Past Sales

$351,000 100 WEBSTER WAY PAKENHAM, VIC 3810Map Ref: 317, C11 Sale Date: 19/10/13

Attributes: 4BED, 2BATH, 2CAR, 2009YR BUILT, 200.00M2FArea: 739 M

$360,000 19 DRYSDALE ST PAKENHAM, VIC 3810Map Ref: 317, D10 Sale Date: 24/10/13

Attributes: 4BED, 2BATH, 2CAR, 2LUGArea: 560 M

$366,000 2 CERRETO MWS PAKENHAM, VIC 3810Map Ref: MEL415, A12 Sale Date: 03/12/13

Attributes: 3BED, 2BATH, 2CAR, 2011YR BUILT, 159.00M2FArea: 562 M

$370,000 42 THOMAS PL PAKENHAM, VIC 3810Map Ref: 317, D10 Sale Date: 18/12/13

Attributes: 3BED, 1ENS, 2BATH, 8CAR, OPENPLAN, 2LUG, 1996YR BUILTArea: 607 M

$370,000 7 LICODIA DR PAKENHAM, VIC 3810Map Ref: MEL415, A11 Sale Date: 01/09/13

Attributes: 3BED, 2BATH, 6O/RMS, 2CAR, 2LUG, 2009YR BUILT, 188.00M2FArea:

$390,000 6 TOORANG CT PAKENHAM, VIC 3810Map Ref: 317, D11 Sale Date: 07/10/13

Attributes: 4BED, 2BATH, 2CAR, 2LUG, 2006YR BUILT, 217M2FArea: 659 M

$392,000 6 MASON MWS PAKENHAM, VIC 3810Map Ref: 317, C10 Sale Date: 26/10/13

Attributes: 3BED, 2BATH, 2CAR, 2LUG, 195M2F, 2004YR BUILTArea: 568 M

$395,000 27 AZALEA AV PAKENHAM, VIC 3810Map Ref: 317, E11 Sale Date: 25/10/13

Attributes: 4BED, 2BATH, 2LUG, 2008YR BUILTArea: 579 M

Past Sales

$410,000 15 WEBSTER WAY PAKENHAM, VIC 3810Map Ref: 317, C11 Sale Date: 08/09/13

Attributes: 3BED, 1ENS, 2BATH, 2CAR, 2LUG, 2010YR BUILTArea: 554 M

$430,000 35 BELVEDERE DR PAKENHAM, VIC 3810Map Ref: MEL415, A12 Sale Date: 14/09/13

Attributes: 4BED, 2BATH, 2CAR, 2LUGArea: 558 M

$473,000 18 HONEYEATER WAY PAKENHAM, VIC 3810Map Ref: 317, C11 Sale Date: 05/10/13

Attributes: 5BED, 2BATH, 2CAR, 2LUG, 315M2F, 2008YR BUILTArea: 664 M

$585,500 31 THOMAS ST PAKENHAM, VIC 3810Map Ref: 317, E9 Sale Date: 17/09/13

Attributes: 5BED, 1ENS, 2BATH, 2WC, 1LNG, 1RUMP, 12O/RMS, 4CAR, 2LUG, 50M2FArea:

Past Sales

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