1ST JULY - 30TH SEPTEMBER 2022 | Courtesy of P&G Real Estate NARRE WARREN SOUTH Q U A R T E R L Y R E P O R T Photo by Jane Duursma from Unsplash
WELCOME Narre Warren South property market update: holding firm despite softening trends Welcome to our latest property market update that covers property statistics for the July to September 2022 period. There’s no doubt that we’re in an evolving market right now. The Reserve Bank of Australia (RBA) is navigating a tricky balancing act, as it raises rates to combat rising inflation. They want to make sure that it finds a ‘neutral’ interest rate - not too low to fuel inflation and not too high to cause us to go into recession. But while they find that sweet spot, both buyer and seller confidence is fragile in Melbourne’s property market, so many discretionary buyers and sellers are just sitting on the sidelines until things become more clear. As a result, there has been a slight decrease in the number of properties sold, the number of offers we’ve received for each property and the median sale price, this quarter. The average number of days on market also increased slightly. However, this re-adjustment will not last forever and the ongoing robust growth in population and infrastructure development are good indicators that the local area will remain strong. In the property management market, our team has continued to experience strong demand for homes available to rent, with most homes being successfully leased in less than a week. The median rent has risen, while the number of people inspecting the property and applications have both doubled. Whatever your situation, it’s always best to consult with a professional before making any major decisions about the real estate market. Stay informed and stay ahead of the curve - that’s the key to success in today’s market! Kind regards, P&G Real Estate 03 9587 8881 admin@pgrealestate.au Photo by Filipp Romanovski from Unsplash
3 3 4 3 3 3 3 4 3 4 3 4 3 3 4 4 2 1 2 2 2 2 2 2 1 2 2 2 2 2 2 2 1 2 1 4 2 1 1 2 2 2 3 2 2 2 2 2 336sqm 400sqm 541sqm 537sqm 630sqm 584sqm 612sqm 612sqm 559sqm 644sqm 584sqm 614sqm 356sqm 596sqm 597sqm 466sqm SOLD $660,000 SOLD $660,000 Not Disclosed SOLD $660,000 SOLD $700,000 SOLD $705,000 SOLD $710,000 SOLD $695,000 SOLD $717,500 SOLD $730,000 Not Disclosed SOLD $715,000 SOLD $631,000 SOLD $640,000 SOLD $647,300 SOLD $622,000 220 Ormond Road 240 Ormond Road 1 Rupertswood Rise 11 Edgewood Close 7 Nana Walk 14 Daisy Court 1 Lennon Court 3 Carly Close 55 Fleet Street 4 Chisholm Crescent 11 Gossamer Way 7 Margie Square 1 Riddleston Court 3 Eastbury Court 24 England Walk 12 Marathon Way by P&G by P&G
SOLD IN NARRE WARREN SOUTH 3 3 4 4 4 3 4 3 4 3 3 4 4 4 4 4 2 2 2 2 3 2 2 2 2 2 2 2 2 2 2 2 1 4 4 2 2 2 2 4 2 2 2 3 2 2 2 2 548sqm 678sqm 681sqm 622sqm 512sqm 612sqm 567sqm 584sqm 499sqm 561sqm 665sqm 531sqm 492sqm 424sqm 501sqm 527sqm SOLD $750,000 SOLD $750,000 SOLD $755,000 SOLD $750,000 SOLD $775,000 Not Disclosed SOLD $800,000 SOLD $763,000 SOLD $805,000 SOLD $808,888 SOLD $810,000 SOLD $800,000 SOLD $735,000 SOLD $735,000 SOLD $740,000 SOLD $733,000 10 Croxley Place 216 Ormond Road 158 The Promenade 1 Croxley Place 7 Chisholm Crescent 13 Timms Street 1 Crystal Brook Court 1 Gull Way 11 Artists Crescent 16 Omars Place 79 Langbourne Drive 1 Delacy Court 4 Alema Court 7 William Clarke Wynd 22 Sycamore Court 3 Hedgerow Court by P&G by P&G
BETWEEN 1 JULY – 30 SEPTEMBER 2022 4 4 4 4 4 4 3 4 4 4 4 5 4 4 4 4 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 4 2 2 2 536sqm 481sqm 580sqm 664sqm 604sqm 555sqm 560sqm 774sqm 584sqm 580sqm 640sqm 580sqm 822sqm 609sqm 698sqm 732sqm SOLD $835,000 SOLD $845,000 SOLD $845,000 SOLD $830,000 SOLD $850,000 SOLD $860,000 SOLD $860,000 SOLD $845,000 SOLD $930,000 SOLD $935,000 SOLD $938,500 SOLD $925,000 SOLD $820,000 Not Disclosed SOLD $830,000 SOLD $818,000 16 Hallmark Drive 34 Eureka Crescent 42 Littlecroft Avenue 29 Kippenross Drive 14 Tower Avenue 3 Sheffield Court 1 Sherbrooke Court 10 Tower Avenue 122 Robinswood Parade 43 Abbey Road 5 Bonny Court 7 The Boulevard 18 Cobblestone Ave 15A Minton Walk 4 Appleton Court 53 Beethoven Drive by P&G by P&G
Source: CoreLogic RP Data 5 4 4 5 4 5 5 4 4 4 5 5 4 5 3 5 2 2 2 3 2 2 2 2 2 2 2 2 2 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 4 2 6 10 775sqm 559sqm 620sqm 565sqm 642sqm 512sqm 838sqm 647sqm 730sqm 811sqm 630sqm 759sqm 1,134sqm 5,578sqm 4,134sqm 4,000sqm Not Disclosed SOLD $982,000 SOLD $995,000 SOLD $960,000 SOLD $1,020,000 SOLD $1,155,000 SOLD $1,185,000 SOLD $1,010,000 SOLD $1,540,000 Not Disclosed SOLD $1,900,000 SOLD $1,230,000 SOLD $945,000 Not Disclosed SOLD $950,000 SOLD $940,000 15 Champagne Grove 4 Wellspring Way 8 Padstow Court 5 Pevensey Drive 19 Brangus Avenue 6 Bonny Court 14 Heritage Drive 15 Vert Avenue 4 Kilgerron Court 18 Dee Wy Road 27-28 Jindalee Court 7 Dewdrop Place 4 Papillion Way 20 Cherrywood Way 41 Grenfell Rise 33 Louise Baille Ave by P&G by P&G by P&G
SOLD BY P&G REAL ESTATE NARRE WARREN SOUTH Source: www.realestate.com.au data from the last 12 months Source: Core Logic RPData 1 July - 30 September 2022 AVERAGE DAYS ON MARKET 34 15 HOUSE SALE PRICE Highest $1,900,000 Lowest $575,000 Median $830,000 HOUSES SOLD LAST QUARTER 68 FAST FACTS 54 41 22 21 16 13 12 12 13 14 Properties sold in Narre Warren South by P&G Real Estate P & G Real Estate Competitors
MEET THE TEAM Paul Organtzidis Director/Licensed Agent /Auctioneer –––––– 0431 646 115 paul@pgrealestate.au –––––– Favourite food: Ice Cream Noah Rezaie Sales Agent –––––– 0477 799 015 noah@pgrealestate.au –––––– Favourite food : Chicken Parma Stephanie Lui Office Manager and Property Marketing Specialist –––––– (03) 9587 8881 stephanie@pgrealestate.au –––––– Favourite food: Sushi Stella Rose Investor Portfolio Manager –––––– 0412 664 721 stella@pgrealestate.au –––––– Favourite food: Burgers Gina Organtzidis Director –––––– (03) 9587 8881 gina@pgrealestate.au –––––– Favourite food: Roast Lamb Ahmed Mahmoud Sales Agent –––––– 0449 269 767 ahmed@pgrealestate.au –––––– Favourite food: Steak Rachel Seal Sales Marketing Coordinator –––––– (03) 9587 8881 rachel@pgrealestate.au –––––– Favourite food: Tacos Kailey Wilson Property Manager –––––– 0474 542 657 kailey@pgrealestate.au –––––– Favourite food: Ribs Rick Kothari Sales Agent /Licensed Agent –––––– 0412 767 574 rick@pgrealestate.au –––––– Favourite food: Fried Chicken Jenna Mcintosh Senior Property Manager –––––– 0460 920 260 jenna@pgrealestate.au –––––– Favourite food: Pizza Sales & Rentals 15 Magna Vista Rise, Narre Warren VIC 3805 03 9587 8881 pgrealestate.au
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