philipwebb.com.au

Homes for lifeDoncaster 03 9842 1477989 Doncaster Road Doncaster East VIC 3109

Ringwood 03 8870 2888139 Maroondah Highway Ringwood VIC 3134

Mitcham 03 9874 3355483 Whitehorse Road Mitcham VIC 3132

The PhilipWebb Report Spring Edition

In this issue Suburb median price trends

Online advertising and you

First home buyer tips

Whilst there has been much reportage on the downturn of Melbourne’s property market over the past 12 months, I am delighted to report that our company has sold more properties in July, 2012 than the same time last year. Like any other business, we have had to make some changes to adapt to the current market; and it’s pleasing to see how our staff has managed to improve their skills, dig in and achieve some truly remarkable results in a contrary market place. They are living proof of the old adage: when the going gets tough, the tough get going. After 41 years in real estate, I have experienced some interesting times, from the highs of the 80s, the doldrums of the 90s recession and the boom periods thereafter. But I’ve been in the business long enough to know that, despite fluctuating interest rates, global economic conditions and the impact of world events, life goes on… and real estate remains the most resilient of all investments. We are now seeing some positive news in the media. Melbourne experienced a substantial decline with online listings falling from 55,293 to 48,322 over July, which suggests that properties are selling quicker. This is also a sign that the market is in the first stage of a turnaround. Moreover, the RP Data-Rismark Home Value Index showed that Melbourne dwelling values

have recorded a 1.7% recovery since reaching a trough on 11th June. The benefit of the 75 basis-point drop in interest rates is starting to flow through to market activity.Doncaster and Templestowe were among the “Top 10 Growth Suburbs” for the March quarter (source reiv.com.au) with a 10.6% quarterly change for Doncaster and 7.4% for Templestowe. These are promising signs for the eastern suburbs. Established locations like these and surrounding suburbs all share a quality of lifestyle that will continue to compel buyers to either stay and upgrade or move into the area. It is an exciting time for Maroondah with Ringwood’s multi-million dollar facelift; this will make it one of the “7 Central Activity Areas” outside of the CBD. This is always good news for the local real estate market, as it adds considerable value to the residential zones, as previously experienced with the opening of EastLink in 2008. Spring is the busiest period of the real estate year. If you’re thinking of selling, now is a great time to book an appointment with one of our sales consultants. We look forward to hearing from you.Best regards,

Philip Webb, Director

Onwards and upwards…

Congratulations to Robert Groeneveld, Eric Napoleone, Michael Muncey, Gavin Findlay and Jerry Last, our top performers for the 2012 financial year.

What makes their success even more impressive is the fact that they have achieved phenomenal results for their clients in what has been a very challenging market place. If you’re thinking of selling, be sure to contact them.

When the going gets tough, the tough get going!

Jerry Last

0438 313 561

Gavin Findlay

0412 358 524

Eric Napoleone

0418 484 034

Mike Muncey

0400 562 887

Robert Groeneveld

0404 881 634

philipwebb.com.au

Introducing...

Priority Sale® is an alternative selling method to Auction and Private Sale.It combines the best of both the Auction and Private Sale methods. Essentially, buyers are given an end date by which they must submit their best bid via a registration system.

This creates the same sense of urgency of an auction, whilst allowing a more discreet method of sale.

If you would like to discuss the Priority Sale® method with one of our sales consultants, please call 9842 1477 to book in your appointment.

facebook.com/philipwebbre philipwebbrealestateblog.com.au @PhilipWebbREfacebook.com/philipwebbre philipwebbrealestateblog.com.au @PhilipWebbRE

Suburb Median Price Trends

Sou

RCE: REIV PRoPERTy DATA

WA N T ED PROPERTIES TO SELL.CALL 9842 1477.

989 DonCASTER RoAD, DonCASTER EAST 139 MARoonDAH HIgHWAy, RIngWooD 483 WHITEHoRSE RoAD, MITCHAM

Online advertising is on the increase. These statistics show how important online advertising is when it comes to selling your property

ONLINE ADVERTISING AND YOU

74% OF REAL ESTATE BROWSERS GO ON TO INSPECT A PROPERTy

20.1 million Aussies are now online. 13.4 million of these are connected online more than 18 hours a day.Of these, 25% are Victorian

MOST OF AuSTRALIA IS ONLINE

Online 18+hours per day

Online fewer than 18 hours per day

Offline

Online fewer than 18 hours per day OfflineOnline 18+hours

per day

VIC QLD NSW TAS SA WA NT

PEOPLE ARE SPENDING MORE TIME ONLINEon average, people spend 19.4 hours per week online

Hours per Week spent online

200914.5

15.8

17.0

18.2

19.4

2010 2011 2012

Other

Watching TV

Sleeping

Online

Watching TV SleepingOnline Other Hours per week spent online

This represents a 9% growth in online activity in just 12 months

online advertising is so effective that advertisers increased online ad spend by 17% since 2011. Spending on classified ads grew to $615 million. Real estate was the fastest growing advertising area in this category.

ADVERTISING & SHOPPING ONLINE IS ON THE INCREASE

ONLINE SPEND AuSTRALIA 2011Display Ads ClassifiedsSearch

Words Other

Other

Display Ads

Search Words

Classifieds

Meaning nearly 4 million buyers could be exposed to your property. While the narrowing of searches decreases these numbers

ONLINE ADVERTISING PROVIDES ACCESS TO APPROx. 3,899,800

SERIOuS BuyERS EVERy MONTH

THIS is why Internet advertising is an integral part of any real estate marketing campaign.

The top real estate portal reports 5.27 million unique visitors monthly. If there are 16.4 million Aussies online each month, this suggests that every month roughly...

IT APPEARS THIS INVESTMENT IS WORkING...

BROWSING REAL ESTATE NOT BROWSING30% OF ALL ONLINE AuSSIES BROWSE REAL ESTATE LISTINGS

Homes for lifeDoncaster 03 9842 1477989 Doncaster Road Doncaster East VIC 3109

Ringwood 03 8870 2888139 Maroondah Highway Ringwood VIC 3134

Mitcham 03 9874 3355483 Whitehorse Road Mitcham VIC 3132

If this property is exclusively listed with another agent, please disregard this communication. 5757

W A N T E D ProPerties to seLL.Call 9842 1477.

Firstly, familiarise yourself with the two main methods of selling a property; auction and private sale.

one major difference is by private sale the sale can be conditional to obtaining finance. There is also a 3 day cooling off period. Decide on what you want in terms of size, location and price range. Register your name and requirements with agents who service the area you are interested in and ask them to let you know when suitable properties become available. Regularly check newspapers and set up alerts on real estate internet sites.If you’re not buying a new home it’s wise to obtain a building inspection report before you make an offer or bid at auction. This will provide guidance on what needs to be repaired and possible costs.

Get permission from the body corporateIf you’re buying and planning to renovate, ask for permission before you buy. It may be that the body corporate doesn’t want any renovations done on the building.

understand the conditionsThere are set terms for renovators which vary from building to building, so check with your own body corporate. For example, you may require a certificate from a sound engineer if you are laying hardwood floors or tiles due to insulation restrictions. or you may be limited on the work you can undertake on common property, such as walls or floors. Keep in mind that any outdoor areas, such as a balcony or a door, usually need to remain consistent with the look of other units.

Get quotes from licensed tradespeopleShop around for the best deal and get a written itemised quote before the work starts. Make sure you know in advance how long the work will take so you can plan around it. Also make your neighbours aware of renovation times, so they know what to expect. Choose tradespeople who’ve worked in apartments before, because they are used to working in a limited space.

Budget for the unexpectedMaterials can get delayed, so be prepared for your renovations to take longer than planned. occasionally, the real scope of work can be underestimated, which may blow out your original budget.

Prepare for the messWhen your tradespeople start work, ensure all your possessions and floors are covered with drop sheets and your valuables are locked away. Remember to seal cupboard doors and drawers with tape to keep out sawdust.

Organise your finances before making an offer or bidding at an auction. If you are bidding at auction, and your bid is successful, you must be able to provide a 10% deposit immediately following the auction. Take into account stamp duty, cost of conveyancing, possible moving expenses and the repayments, while also allowing

for increases in variable home loan interest rates. Finally, research the different levels of State Government financial assistance that may be available to you. Assistance is available for first home buyers. There are also differences in stamp duty rates for newly built homes and established homes.

Article courtesy of the REIV

Tips for first home buyers

Apartment renovator’s checklist

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