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SQM Research Newsletter - Tuesday 8 October 2019
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Black Dragon's
Words for the Week

"An entrepreneur is someone who jumps off a cliff and builds a plane on the way down."

Reid Hoffman,
Co-founder of LinkedIn, venture capitalist and author
Real Estate Realities 

Until September this year things had been slow all in the part of Beverly Hills known as Beverly Hills Post Office

Gwen Stefani’s seven-bed, ten-bath home in Beverly Hills has broken that silence. The house has reportedly sold at a 60% discount for US$21.65m ($32.16m). The house was originally listed for $35m in 2017, but came down in price to $29m, then was re-listed for $24.9m earlier this year and closed for $21.65m on October 1, according to Forbes.
Stefani purchased the home with her ex-husband Gavin Rossdale for $13.25m in 2006 and gave it a colorful overhaul. The main bedroom has an ornate chandelier that could make the room feel like an exclusive nightclub. One of the main draws of the property and this part of Beverly Hills are the amazing panoramic views of Los Angles that Stefani enjoyed. She recently celebrated her 50th birthda
y with her beau of nearly four years Blak
e Shelton. With a new partner she has moved to a new home.

Read More...

DISTRESSED PROPERTY OF THE WEEK
 

79 Greenvale Gardens Boulevard, Greenvale, Vic 3059


This near new home is situated in the Greenvale Gardens Estate in Victoria and could be ideal for homebuyers keen to get into the property market. Greenvale is located 21km north of Melbourne's CBD, featuring a young demographic, lured by more affordable property prices. The suburb expanded lin the 1980s and now boasts two shopping centres, three primary schools, a community centre and two kindergartens.
 
The house features an open plan living and dining zone with natural sunlight, sparkling modern kitchen and four generous size bedrooms (master with full ensuite and robes), study, central bathroom, laundry and a park walking distance from the home. 

The property's current sale price is $555,000, much less than its initial asking price of between $600,000 to $640,000 in November 2018, reflecting the softening property market in the area, as well as nationwide. The asking sales price for houses in postcode 3059 is $525,400, which is down around 1.8% over the year. But that is a modest fall compared to 
Melbourne's property market, which has experienced a much bigger decline in house prices of 9.6% over the 12 months to June 30. Asking house prices in Greenvale have risen a very healthy 19.3% over three years.
 
However, properties are taking longer to sell, with a jump in the number of homes on the market for over 90 days while property listings in 3059 are at their highest in around two years.

Prospective investors might be put off too by falling rents. With a vacancy rate of around 4%, and a flood of rental accommodation hitting the area,
house weekly rents have dived in postcode 3059 by 7.7% over the 12 months to 4 October to $421/week, compared to Melbourne's modest 0.4% fall in 12 months to $525/week.
 
Keep monitoring this market’s growth at SQM Research’s 
free property data at SQM’s website. Also consider the Property Valuation product for more in-depth data and property price estimator.

SQM RATINGS NEWSLETTER

Did you know that SQM Research doesn’t only provide residential property data, we also provide research on all asset classes.  We have data and analytics on over 10,000 funds in Australia.  To find out more and to subscribe to our Fund Data tool click here.

If you would like to subscribe to our Ratings Newsletter, click here.  The newsletter provides regular updates on all funds including ratings changes and media releases, and valuable Insights into the point of view of our analysts on a variety of ratings research related topics.  And it’s completely free!
 

SQM RESEARCH HOUSING INDEXES

 

SQM Research Weekly Asking Prices Index
Week ending
8 Oct 2019
Asking Price   Chg on prev wk Rolling month
% chg
12 mth
% chg
Sydney All Houses 1,304.4 -0.7  1.0%  -0.3% 
All Units 699.1 1.0  0.8%  -1.0% 
Melbourne All Houses 951.6 -8.0  0.9%  -1.3% 
All Units 546.3 -1.6  0.9%  -0.7% 
Brisbane All Houses 628.4 1.3  1.1%  2.4% 
All Units 371.3 0.2  0.1%  -2.5% 
Perth All Houses 649.1 -0.8  -0.1%  -1.8% 
All Units 378.2 -0.4  -0.6%  -2.4% 
Adelaide All Houses 518.6 1.8  0.8%  2.0% 
All Units 297.7 0.5  -0.3%  -1.5% 
Canberra All Houses 805.5 -4.2  -2.2%  -2.2% 
All Units 440.0 -0.3  1.4%  3.7% 
Darwin All Houses 591.0 2.8  -0.3%  1.3% 
All Units 348.9 -0.6  -0.9%  -6.0% 
Hobart All Houses 521.3 -0.5  0.3%  5.8% 
All Units 333.6 2.8  4.3%  8.3% 
National All Houses 573.2 -5.0  0.1%  -0.4% 
All Units 379.8 -2.0  -0.2%  2.4% 
Cap City Average All Houses 934.4 -8.0  0.1%  -0.5% 
All Units 566.9 -1.5  0.6%  -0.9% 
 

Next update: 15 Oct 2019

 
SQM Research Weekly Rents Index
Week ending
4 Oct 2019
Rent                 Chg on
prev wk              
Rolling month
 % chg
12 mth
% chg
Sydney All Houses 672.3 -3.3  -0.6%  -5.4% 
All Units 496.6 0.4  -0.3%  -3.3% 
Melbourne All Houses 525.1 -0.1  -0.3%  -0.4% 
All Units 412.1 -2.1  -1.8%  1.1% 
Brisbane All Houses 463.8 -1.8  -0.5%  2.7% 
All Units 379.4 0.6  0.6%  2.4% 
Perth All Houses 442.9 0.1  1.4%  4.5% 
All Units 336.5 -1.5  -0.5%  4.9% 
Adelaide All Houses 397.1 -1.1  -0.7%  2.6% 
All Units 309.1 -1.1  -1.0%  3.2% 
Canberra All Houses 612.4 2.6  1.3%  -2.2% 
All Units 462.2 0.8  0.7%  4.3% 
Darwin All Houses 523.1 1.9  2.3%  2.7% 
All Units 382.3 2.7  1.8%  -4.8% 
Hobart All Houses 437.7 -1.7  -0.9%  7.2% 
All Units 399.3 -4.3  -1.1%  11.6% 
National All Houses 443.0 1.0  0.7%  0.9% 
All Units 365.0 0.0 -0.5%  2.8% 
Cap City Average All Houses 542.0 -2.0  -0.4%  -2.0% 
All Units 435.0 0.0 -0.9%  -0.7% 

Next update: 12 Oct 2019

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