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5 Violet Court, Wonga Park

September 19th 2017

An Acre of Lifestyle Luxury

Amid an exclusive court, this colonial-inspired home occupies a stunning, landscaped acre (approx.) and offers a lifestyle of blissful serenity. Sprawling over 2 levels and comprising 4 robed bedrooms, children will relish their own domain upstairs where 3 dormer bedrooms with built-in robes share a family bathroom and a carpeted rumpus.

Spotted Gum floors are a feature of the primary level, gracing the entrance and independent entertaining spaces, including a formal dining and living room with an open fireplace and the family zone, where a bay window illuminates the meals area and a wood heater warms the family room, which overlooks the solar-heated pool and alfresco area.

Also enjoying pool views and a scenic outlook, the Provincial kitchen has granite benchtops, a walk-in pantry and European stainless steel appliances. French doors connect the alfresco area to the elegant master bedroom, accompanied by a fitted walk-in robe and a sumptuous full ensuite with a spa.

Additional luxury appointments include: a study, powder room, laundry/drying room, gas ducted heating, evaporative cooling, ceiling fans and split systems, along with ducted vacuum, a gym/cellar, pool bathroom, exceptional storage, capacious water tanks and a double auto garage with internal access. There are 2 (electric) gated entries, one accessing a large and versatile barn. Featuring a pot belly stove and bar, the barn provides additional vehicle, boat or machinery accommodation. However, it could also be a magnificent man cave, teenage retreat or home office.

Near Wonga Park Primary School, Kellybrook Winery and The Heritage Golf Club, this peaceful property is also close to a bus, Foodworks supermarket and the shopping centres and cafes of Chirnside Park, McAdam Square and Croydon North. It’s also a short drive to the Rudolf Steiner School, Yarra Valley Grammar, Luther and Oxley Colleges.

Click for more information about 5 Violet Court, Wonga Park

Alternatively, contact Robin Waterbury on 0408 178 070 or Linda Drysdale on 0412 107 056.

Auction Snapshot: Saturday 16 September

September 18th 2017

What’s happening in the market…

On Saturday, Melbourne had an average auction price of $881,000. The Domain Group stated, “the best results for sellers are occurring in the affordable outer suburbs. In higher-priced areas closer to the CBD, the market is more balanced and buyers are exercising greater market power.”

Saturday 16 September
Number of auctions in Victoria: 1,066
Clearance rate: 76%

The same weekend last year
Clearance rate: 79.5%

Auction highlights…

7 Wandsworth Road, Surrey Hills

A beautiful Edwardian profile with high-quality contemporary spaces, this four bedroom plus study residence is situated in an extremely popular family precinct. The new home owners will enjoy being able to walk to Chatham Primary School, tram, train and cafes, while being close to prestigious private schools. Features include an expansive design, lush garden, alfresco area, meals and chef’s kitchen with Miele appliances, butler’s pantry and long granite benches. 

Number of bidders: 7
Sale price: $3.851 million

15A James Avenue, Mitcham

Featuring flawless workmanship throughout and a floorplan that’s both clever and practical, this sparkling renovation will impress you from entry to exit. The home is beautifully presented throughout, with Eastland, Eastlink, Costco and Heatherdale/Ringwood train stations minutes away and only a 30 minute drive to Yarra Valley wineries. Congratulations to the vendor and purchasers on a fantastic result!

Number of bidders: 3
Sale price: 
$910,000

72 Lechte Road, Mount Waverley

This original home has been extended over time and still presents an exceptional family living and entertaining environment. The outstanding potential of a corner block to modernise or rebuild  (STCA) will capture the attention of family purchasers and building professionals. The home is in the Mount Waverley Secondary College Zone just a short walk from the school, and an easy distance from Mount Waverley North Primary School, High Street Road bus, Mount Waverley Station and Hamilton Place shops. It achieved a fantastic result at auction with five keen bidders on the day.

Number of bidders: 5
Sale price: 
$1.412 million

Tips to get into Melbourne’s property market

September 15th 2017

Tips to get into Melbourne’s property market

It’s no secret that the Melbourne property market is going from strength to strength. Median house prices are on the up, and affordability is…not. Particularly if you’re looking for property in Melbourne’s most sought-after suburbs.

If Melbourne’s five year property forecast is anything to go by, there’s no certainty that the market is going to weaken anytime soon. So, how do Melbourne’s eager first-home buyers get into the market without moving to Timbuktu?

Other than being wealthy, here’s a few tips to get you into a fast-moving market (hint, planning is key!):

Take note of your spending, and adjust where you can

First thing’s first; make a list of what you’re already spending your money on. Every time you spend, write it down—and don’t forget those morning coffees and smaller spends as they all add up!

Then decide, what is a necessity? What could you cut down on? This way you can figure out how much you need to live comfortably, and how much you could afford to pay a week to the dreaded “M” word… mortgage! Budget, budget, budget until it comes time to sign the papers. Remember that the loan isn’t going to disappear for a long time, so you should still be able to afford doing the things you love!

Borrow the least amount you can

The more you have saved, the less you have to borrow and the less interest you will have to pay. Although the upfront cost will be ‘more’, running costs will be easier to manage.

Understand the costs involved

Conveyancing, owners corp., builder’s insurance, content insurance, utilities (such as gas, water and electricity) and council rates. This will allow for a much more transparent budget, and you know upfront whether you need to lower your search bracket to accommodate for the costs involved.

“Once you’ve saved that deposit, the next step is to chat to your bank or, better yet, a reputable broker to establish your borrowing power – this means how much you can afford to spend on a home in line with all of your other living expenses,” advised Property Consultant, Harley Toyle.

Figure out your exact price bracket

After the above steps and estimating your interest rate, you will know exactly how much you can afford. Don’t assume ‘a little more will be fine’, as once you have the loan, you NEED to be able to pay it.

Research, research, research

“Shortlist a handful of suburbs you’d love to buy into. These could be area you enjoy visiting, that are close to work or maybe even close to where you grew up,” continued Harley.

After you have narrowed down a list of potential suburbs, investigate the type of properties available and the price range. Do they match up with your requirements? If not, try searching a suburb out!

“In your favourite suburb you may only be able to afford an apartment, where as you might be able to secure something larger in a suburb you’ve only ever driven through to get to work,” said Harley.

Finally…

Buying your first home is not something that will happen overnight! You may even have all your finances sorted, but in a competitive market, rarely will your first offer on a home be your final offer. You also need to find a home that you will be happy in.

“When thinking of things to compromise on or sacrifice, it’s important to understand what you value, not what others value. How important is it that you’re close to public transport, local cafes, schools or parks? Is a garage important to you, or do you ride a bike? Having a good idea of your must-haves, want-to-haves and love-to-haves will help you recognise when the right home comes up, and give you the confidence to secure it,” Harley explained.

Good luck, and don’t forget to share your favourite tips with us!

Auction Snapshot: Saturday 9 September

September 11th 2017

What’s happening in the market…

“Dozens of auctions in Melbourne at the weekend saw a drop-off in bidder participation rates but the percentage of properties that sold under the hammer stayed high,” The Domain Group stated.

Domain also highlighted that the outer east suburbs of Melbourne achieved the highest clearance rate, whereas the south-east had a weaker result than usual.

Once again, the Reserve Bank of Australia has decided to leave the cash rate at 1.5%, unchanged since August 2016.

Saturday 9 September
Number of auctions in Victoria: over 900
Clearance rate: 73.1%

The same weekend last year
Clearance rate: 78.4%

Auction highlights…

21A Glen Road, Ashburton

Architect-designed, this four bedroom residence sets a new benchmark for contemporary family living and extravagant entertaining. Features include an under-cover alfresco area, infinity pool, Miele kitchen and butler’s pantry, fully-fitted cinema and a three car garage. The lucky new home owners will enjoy a perfect location within walking distance to trains, Solway Primary and Gardiners Creek.

Number of bidders: 2
Sale price: Undisclosed

12 Stanley Street, Box Hill South

A prime investment opportunity or as a consistent source of cash-flow returning approximately $98,300 p.a. gross, this block of seven apartments boasts extremely low vacancy rates. Set on a quiet street with easy access to the supermarket, Aqualink, Box Hill’s shopping district and job opportunities for tenants, there is huge scope to redevelop this site and build multiple townhouses (STCA).

Number of bidders: 9
Sale price: 
$2.246 million

327 Hull Road, Mooroolbark

Near Red Earth Community Park, this single-level brick veneer house occupies a block of 862 sq m approx. and presents opportunities for the first homebuyer, young family or those seeking to add value through subdivision (STCA). The light-filled home retains its original hardwood floors and an open fireplace, renovated to feature a fresh bathroom and modern, stainless steel-appointed kitchen. Congratulations to the vendor and successful purchasers!

Number of bidders: 3
Sale price: 
$720,000