Ray White St
Albans Setting Records
Located on a prime corner in Main Road East, Ray
White St Albans continues to be the market leader in the area and constantly
setting new records in St Albans
We continue to achieve outstanding results, one
in particular, 80 Alfrieda Street St Albans has set the record for St Albans
for years to come, selling at auction in February 2017 for $1,810,000 which was
$610,000 above reserve price and equates to nearly $3,000/m2 for the 613m2 site
The Ray White network comprises 1000
individually owned or operated offices throughout Australasia with some 11,000
staff. The company’s brand is the most frequently searched real estate brand on
Google and their website attracts a whopping 420,000 visitors each month.
According to Director Shaun Marijanovic, “being
part of Australia’s largest real estate group Ray White, allows us to build on
our service levels and to achieve the best possible results for our customers.”
Mr Marijanovic stated that Ray White has been in
property since 1902 so they have got to be doing something right, there are
offices throughout Australia and Austrasia and going from strength to strength
The Internet has revolutionised the way we all
go about our work and everyday life, he says. For real estate today this has
meant that, “buyers and sellers want more information and expert analysis. We
believe that our ability to provide this as a Ray White Office will sets apart
in Melbourne’s West,” says Mr Marijanovic.
“We have greater access to industry intelligence
and faster, better training and processes at our fingertips, to provide premium
information service to our customers.”
“This investment in training, infrastructure and
systems generates better access to greater knowledge,” he says.
The property market in Melbourne’s West is a
happening place, one Mr Marijanovic believes can only continue to surge ahead,
courtesy of the government’s investment into roads and rail infrastructure and
the availability of schools and shopping amenities. In particular, the Sunshine
Hospital redevelopment, the removal of the railway crossings at Main Road and
Furlong Road, together with historical low interest rates has seen property in
the St Albans are increase as much as 50% in two years for some properties.
“Buyers can get a decent house on a large block
close to shops, train, schools, medical facilities for $500,000 –$ 550,000” A home
in an equivalent location in the Eastern and South Eastern Suburbs would
cost over $1,000,000.
Brick veneer and weatherboard homes on
substantial sites are being bought by developers/.investors and individuals
with a view of either redeveloping the land into 3 or 4 units or in some cases
keeping the existing home and building a unit at the rear, these lots are
usually 650m2 to 800m2, he says.
Such generous block sizes reflect the 60s
predilection for the quarter acre block– “they are now few and far between with
new house lots typically being 400-500m2,” he says.
“We have found that the highest demand has been
for property with potential, for example, a house on a big parcel of land,
corner blocks and run down homes in need of renovation. Buyers are recognising
development potential, some property owners are even preparing development
plans to aid a sale and potentially increase the price,” says Mr Marijanovic.
As for the immediate state of play, St Albans
has been booming since 2014 and continues in 2017, we have sold property in
some cases within months of purchase for substantially more. A couple of examples
include; 309 Main Road East St Albans which was sold for $940,000 in May 2015
by a local agent and resold by Ray White for $1,400,000 in October 2015, that
is a whopping 48% increase in 5 months. Another example is 78 East Esplanade St
Albans which again was sold by a local agent in November 2015 for $360,000 and
resold by Ray White in February 2016 for $480,000 that is a 33% increase in 4
Ray White continues to
achieve outstanding market leading sales results and will continue for the next