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1/14 Thomas Street, Ringwood

May 23rd 2017

Experience light-filled living close to Eastland

Wander through neighbourhood streets to take advantage of the endless lifestyle benefits found near this enticing home.

A quick walk to Eastland Shopping centre’s premium retailers, restaurants and entertainment, stroll easily to the train, bus, Ringwood Secondary College, Aquinas College and Great Ryrie Primary School.

Freshly painted and boasting newly polished timber floors, step from the substantial entertainer’s deck to the elegant lounge, dining, north-facing kitchen and meals. A modern ensuite and central bathroom service the 3 bedrooms plus quiet study/retreat.

Click for more information about 1/14 Thomas Street, Ringwood

Alternatively, contact Lachlan Williams on 0414 582 556 or Albert Hazelden on 0432 422 584.

Auction Snapshot: Saturday 20 May

May 22nd 2017

What’s happening in the market…

New Banking Legislation Impacts Interest-Only And Investor Loans

A rise in certain mortgage rates is already underway with recent actions by the bank regulator putting a handbrake on interest-only home loans. Our finance team, Shore Financial, reports that some of the major banks have been told that less than 30% of new mortgages can be interest-only, a significant decrease to the last reported figures and a peak of 45% in 2014.

Theo Chambers of Shore Financial says, “There have been significant regulatory changes in the past 12 to 18 months, mainly around banks lending policies and affordability. Most importantly, there have been substantial changes in the past few months with regard to interest only and investment loans. APRA and ASIC have implemented a new requirement to the major banks to restructure their debt books enforcing a larger proportion of loans to be structured on principal and interest repayments.”

In the current climate of policy change and with interest rates starting to nudge upwards, Theo advises that buyers should carefully consider all their options.

Theo continues, “Second tier lenders are not being as heavily scrutinised and may be able to offer borrowers better loan funding terms compared with the major banks. In fact, some banks are now not even funding or refinancing any new investment or interest only loans and the difference between options and lenders can be as great as 1%.”

The above information was provided to us by Shore Financial.

Saturday 20 May
Number of auctions in Victoria: 995
Clearance rate: 80%

The same weekend last year
Number of auctions in Victoria: 
750

Clearance rate: 73%

Auction highlights…

35 Houghton Road, Warrandyte

This three bedroom, two bathroom home features landscaped gardens, alfresco areas and cathedral ceilings. The lounge room has a relaxing fireplace, with the French provincial kitchen including stone surfaces and stainless steel appliances. Shops, Anderson Creek Primary School, Yarra River and transport are all located within walking distance.

Number of bidders: 4
Sale price: Confidential

39 Indra Road, Blackburn South
 
Located on a leafy corner block, this home is close to Orchard Grove Reserve, a primary school, transport, shops and eateries. The four bedroom, one bathroom weatherboard residence is an open plan space, featuring a large decking and a garden.

Number of bidders: 6
Sale price: $936,000

37 Allison Road, Mont Albert North

A four bedroom, two bathroom, renovated weatherboard home featuring a Provincial style kitchen, an alfresco space, a rear studio and a huge garden. Close by are a selection of schools, transport and shops. The residence has potential to redevelop (STCA).

Number of bidders: 5
Sale price: Confidential

Fletchers – Glen Iris Market Report – May 2017

May 19th 2017

Join Michael Richardson & Michael Rosano to hear about what’s been happening in May and some recent changes in the market.

1/10 Oliver Avenue, Blackburn

May 18th 2017

Relax and enjoy the quiet life

Warm and welcoming, this single-level 3 bedroom home is superbly positioned in a beautiful tree-lined pocket, only metres to Blackburn Lake Sanctuary.

Wake up to the peaceful sound of thriving bird life, and prepare breakfast in the quality granite-topped kitchen with stylish Miele appliances, glass splashbacks, soft close drawers and ample cupboard space. Enjoy leafy views while relaxing in the generous lounge/dining room, or soak up afternoon sun in the charming private rear garden.

Featuring a living/meals zone, gas ducted heating, split system air-conditioning, built-in robes, quality carpet, double garage, storage shed and a water tank, live an idyllic, easy-maintenance lifestyle. Set in the Blackburn High School zone, stroll to the bus, train, shops, cafes and Blackburn Lake Primary.

Click for more information about 1/10 Oliver Avenue, Blackburn

Alternatively, contact Robert Sheahan on 0414 869 226 or David McGowan on 0400 997 097.