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2018 MONTMORENCY
        REAL ESTATE

        REVIEW







        Dear Valued Client,
        The first three months of sales activity in 2018 has   auction. Examples of this were two of our recent sales
        further strengthened Montmorency’s position as a   at 2/59 Looker Road ($1,490M) and 39 Belmont
        premier suburb of Melbourne’s North East. Despite   Crescent  ($1,310M)  which  exceeded  our  client’s
        consistent negative commentary from some media   expectations. Our predictions for the next quarter
        outlets regarding the state of the market, 3094 has   is the Melbourne’s property market will continue
        continued to perform well with growth equalling   to simmer at a more sustainable level of growth, so
        4.4% (www.reiv.com.au).               home owners in the area should feel confident that
                                              their asset will continue to increase its value.
        Contributing to this growth is  an increase in the
        number of properties sold compared to that of the
        previous year. In 2018, we have seen 34 properties   KEY SALES STATISTICS
        enjoy successful sales campaigns compared to the
        29 properties that were sold in the same period last   Number of homes sold   34
        year. Interestingly, these figures are still down from   in the last quarter:
        the 50 sales that were recorded in the first quarter
        for 2016.                               Number of homes currently    21
                                                on the market:
        We say it a lot but once you buy in Monty, you
        are ‘Monty for life’, in fact according to RP Data,   Highest sale price in
        the average duration of home ownership in   the last quarter:  $1,490,000
        Montmorency  is  13  years.  This  figure  shows  that
        more  families  are  choosing  to  stay  longer  in  our   Lowest sale price in    $419,950
        beautiful suburb, the result of which is a shortage of   the last quarter:
        homes on the market.
                                                Average days on              28
        According to realestate.com.au, Montmorency has   the market:
        experienced impressive growth of 61.1% over the
        last five years. The strongest key factors influencing   Streets with the most   Para Rd & Airlie Rd
        buyers to move into Montmorency from surrounding   recorded sales:
        suburbs  are  its  charm,  quality  schooling  and
        community atmosphere.                   Current median         $928,000
                                                house price:           (reiv.com.au)
        It is not a secret that 2018 auction clearance rates
        have been lower than previous years. With that   *Source: REIV Median data for 2018 Quarter
        said, we are still experiencing exceptional results at
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