Over the weekend, Hodges Brighton sold 47 Linacre Rd for $3.275m.
A prestige property, the home comes with natural timbers, stone and polished concrete flooring. The luxe five-bedroom residence oozed comfort and hospitality, with a north-facing terrace, 8 car basement garage and swimming pool.
More pictures below:
Last week, the Property Council of Australia released figures that showed the cost of stamp duty to a home buyer with an average-sized mortgage has increased by 749 per cent in Sydney and 795 per cent in Melbourne during the past 20 years. Hodges Director, Julian Augustini, was asked by The Real Estate Conversation to weigh in at the debate.
Julian said it was important to remember that the stamp duty percentage rate hasn’t changed, but the median house price has increased greatly over time. “Buyers are paying more for properties and therefore are paying more in Stamp Duty. Back in the day, there used to be a ‘sliding scale’ approach for stamp duty when median house prices were much lower. To reflect market changes, a stamp duty sliding scale could instead be linked to the median house price. Vendors needn’t be deterred; increasingly buyers are understanding of the fees and taxes that are implicit when purchasing property.”
To read the full article, click here.
Julian Augustini was recently featured in an article the Australian Financial Review on the most cost effective way to approach renovations.
Julian goes on to advise vendors who are looking to renovate pre-sale “to give their property a “quick facelift”, including a lick of paint or replacing old tiles or cabinets before selling.” This helps to easily update the property and to also appeal to the young aspirational families that may step in through the door.
For investors his advice is to keep your property in good shape. This is best done by taking care of your tenants’ needs and to also consult your managing agent before renovating “as the return on investment may just not be there”.
To read the full article, click here.
Simone Chin from Hodges Brighton was recently an expert for RealEstateView.com.au, commenting on the value of a view. Properties with picturesque views are more likely to attract the attention of buyers.
“Clients will pay millions of dollars for a picturesque view in the right location,” she says.
“When you buy the ‘best view in the best street’, you’re investing in the ultimate trophy prize: an incredible, irreplaceable view that only grows in value as demand increases.”
Views only add value to a property if they are in the right position. “I recently sold a property with enviable views with fierce competition, driving the price up substantially,” Simone says.
Views in main living areas, sitting at eye level are more valuable than a property located in an enviable location without the glamorous horizon.
“While a property may have an enviable view, it’s important to also acknowledge the impact weather can play in any location.”
“Properties cliffside, on a hill, or near the beach can be also susceptible to strong southerlies, so be sure to ask your agent about the ‘worst case scenarios’ weather wise to be sure the view creates an enjoyable atmosphere to feel comfortable during all seasons.”
To read the original post, click here.
Hodges agents Janine Lum and Simone Chin had recently hosted an event with developers, Asian Pacific Group.
The event was attended by a host of VIPs and was a successful and informative session on design and real estate, for people looking to invest in property. There was also a panel of expert speakers that drew from their rich experience and wealth of knowledge to answer questions of attendees.
A highlight of the night was Michael Klim, speaking on his influence on Asian Pacific Group’s pool design.
Events like this are part of Hodges strong focus on people. It is important for not only our agents, but also our clients to grow their networks and connect with one another and the community.
Currently, Hodges have a handful of Asian Pacific Group’s Sky Harmony Frankston left for sale. Contact us for any enquiries.
The 2/76 Whyte Street Villa Unit gained lots of interest from buyers
Hodges Brighton had over the weekend, sold a single level, 2 bedroom villa for $798,000. The villa is located near the iconic Church Street.
Villas are becoming increasingly popular in the buying market as they tend to be located near popular main streets and often in exclusive areas which are normally difficult to find properties in.
Villas can appeal to various cohort of ages, and are able to resell relatively easily as the location of the properties are desirable.
The bayside area in particular has a high demand for villas as more retirees seek to downsize and move towards the coast for a different, more relaxed lifestyle. The bayside area is also highly sought after due to the village like feeling of the various main streets, access to transport and the proximity to the CBD.
The villa on 2/76 Whyte Street in Brighton gained so much interest that its final price settled at a whopping 18 per cent above its reserve. This showcases how in demand villa units are in the bayside area, and illustrates just how valuable they are becoming.
Villas are attractive as they are low maintenance, and perfect for couples who are looking to downsize. Buyers are able to afford these villas as they more often than not would have sold their family homes, leaving them with plenty of money to invest in another property.
Villas are a good investment buy, and allow homeowners to downsize their homes without having to sacrifice the neighbourhood feeling that they enjoy.
The Frankston area has seen a level of consistent building in recent years that is a strong indicator for improvement in property value. However, this steady growth of the area has not only worked much to the advantage of homeowners and sellers, but also greatly benefits potential buyers into the area.
Property developers are attracted to Frankston’s growing profile, which contributes to the cycle of gentrification occurring in the area. This can be attributed to Frankston City’s bay side location, its abundant transport infrastructure, its health and education precinct, and the size of its city centre.
Going from their redevelopment of Frankston’s Peninsula Centre in 2013, prominent property developer, Asian Pacific Group, will turn its attention to the Frankston area once again with their Harmony Sky Apartments development.
Located at 435 Nepean Highway, Frankston, the nine-storey tower will have spectacular views of both Mornington Peninsula and the Melbourne CBD. The properties are also fully furnished with a design sensibility that adds a lifestyle of relaxed sophistication down to the Frankston area.
Hodges expertise in the bay side area means that it is an incredibly appropriate fit for Hodges to be involved in the selling of these fantastic apartments.
For more information, contact us.
International Women’s Day is held every year on the 8th of March and to celebrate the women at Hodges, we decided to profile of Simone Chin, one of Hodges bayside experts.
For Simone, being a female in the property industry is a rewarding endeavour for both men and women alike. “I love being the go-to person for advice on any current or future real estate matter. It is very satisfying to be able to make a difference during a time of change in people’s lives.”
Working at Hodges has provided a collaborative space where she feels like she can bring her business expertise and knowledge to the table, and know that it will be respected in within a trusted team of colleagues. “This can make the process much, much easier for the Vendors,” she says.
Gender inequality can pronounce itself in many ways, and in the professional world that can translate to a gender-based wage imbalance. However, Simone points out that Hodges promotes the careers of all their employees. “There is gender equality pay in the sales team so real estate is a fabulous career for a woman who has the potential to reach her financial goals on merit,” she says.
“There are so many inspirational corners from which to draw, and I’m excited when I’m in accelerated moments of stretching my limits and growing. Hodges has a collegiate culture, and constantly keeps abreast of professional development so our skills are cutting edge matched.”
As the property space becomes more challenging, with savvy consumers making negotiations more delicate, Simone’s view of Hodges future remains bright and optimistic. “I want to become a brilliant Auctioneer and a mentor to other women coming up in the industry.”
The Bayside Leader today reported that mandatory height restrictions on commercial and residential buildings might be scrapped.
An independent Planning Panel appointed by the Victorian State Government recommended that mandatory height controls should be tossed aside.
Bayside Mayor Felicity Frederico said the recommendations could result in developments in excess of five storeys in Sandringham village, and up to four storeys in Church and Bay streets.
This could possibly see an influx of interested developers in the local area. Commercial real estate development can bring in more trading to local small businesses and can potentially increase the value of the area if done right – but it also presents an enormous risk.
If mismanaged, increased property development in the area poses the risk of increased traffic congestion and a potential undermining of the Bayside atmosphere.
Cr Frederico’s concern is that the neighbourhood retail strips will lose their intimate village feel. “Setting mandatory height controls in these areas would provide clear guidelines for developers about what is and isn’t appropriate for Bayside,” he said.
The issue is pressing enough for the Mayor to meet with State Planning Minister Richard Wynne. To allow time to meet with the minster, the local council has pushed the decision until April 28.
Having extensive expertise in the Bayside, Hodges will expectantly watch this space to be ready to advise locals on how this may affect their properties.
Hodges Real Estate News 