Carnegie Market Update - May 2017

The heat in Melbourne’s property market is not dissipating. So far, 2017 has been an exceptional year of growth and sales. In fact, over the last twelve months, house prices have risen 15.9 per cent across Melbourne, which is the fastest in six years.

The Gary Peer Carnegie team has experienced a bumper start to the year with auction numbers high and clearance rates up between 90 and 100 per cent every weekend. Many properties are even selling before auction, with vendors impressed with the pre-auction offers we have been able to secure. The persistent shortage of Melbourne housing coupled with continued low interest rates are undoubtedly contributing to this ongoing positive trend.

Here in the Carnegie office, sales just keep getting better. 3/59 Poath Road in Murrumbeena, for example, sold for $692,000 after furious bidding between several determined parties. The well-presented, 2 bedroom, 1 bathroom unit had a reserve of $610,000. Needless to say, the vendor was ecstatic with the final outcome. And 5 Graceburn Avenue Carnegie sold for $1,647,000 against a reserve of $1,450,000. This was $197k over the vendor’s reserve. Another very happy client!

While some experts are predicting a downturn in the property market as we progress further into the year, we are not so certain that this will happen in and around Carnegie. Demand is consistently stronger than supply and has been since we opened our doors in 2015. We cannot foresee any significant change to the status quo taking place anytime soon.

We are keen to hear from anyone thinking about selling their property. We have a database of eager buyers looking to purchase units and houses throughout Carnegie and surrounds. We also encourage prospective buyers to peruse the properties we have listed at the moment – there are some excellent offerings from single bedroom units to the beautifully renovated period homes we see throughout the area.


Leor Samuel – Director, Gary Peer Carnegie


Carnegie Market Update - July 2016

The Gary Peer Carnegie team has been working hard throughout the year, achieving some excellent results across all property sales types.

Carnegie Market Update - September 2016

The median price in Carnegie for units rose substantially (17.8 per cent) in the June 2016 quarter to $590,000.

Carnegie Market Update - January 2017

In 2016, the Gary Peer Carnegie team continued to increase its market share while creating sales records across the 3163 postcode.

Glen Eira Market Update - July 2016

June ended just as it began with a 100% clearance rate at auction.

Glen Eira Market Update - September 2016

On Sunday 18th September, we sold every property at our 15 auctions.

Glen Eira Market Update - January 2017

The Gary Peer clearance rate for 2016 was above 97%!

Glen Eira Market Update - May 2017

With ongoing buyer demand our team continues to exceed industry standards.

St Kilda & Bayside Market Update - July 2016

Although many vendors we are speaking with are choosing to wait until spring to sell their properties, buyer demand remains strong in Melbourne’s Bayside region.

St Kilda & Bayside Market Update - September 2016

Median house prices in Bayside Melbourne are reflective of the solid year we are experiencing.

St Kilda & Bayside Market Update - January 2017

As we reflect on the 2016 Bayside property market, Gary Peer St Kilda can confidently report an exceptional year of results achieved on behalf of our clients.

St Kilda & Bayside Market Update - May 2017

Full steam ahead for the bayside market!

Demand Continues Unabated In 2017

Of all property types, detached houses are proving to be particularly popular with buyers.

Residential Tenancies Act Review Update

The Act was last reviewed in the 1990s – before the internet had even entered the mainstream.

Bentleigh - What makes it One of Melbourne's Most Liveable Suburbs?

Established in the early 1900s when the Frankston train line brought increased accessibility to the area, Bentleigh remains alive with the charm of an earlier era.

Carnegie: Melbourne’s new sought-after suburb

A phenomenon has swept across greater Melbourne as inner-suburban prices have sizzled.

Melbourne's Rental Market - No Surprises

There have been no significant changes within Melbourne’s rental market over the last quarter.

The Caulfield Races - Part of Our Area's Historical Past and Vibrant Present

As Melbourne’s tree lined streets start to bloom and the temperature begins to rise, the Caulfield Carnival finds its way back on to the city’s social calendar.

Glen Huntly Reservoir Redevelopment Update

The project is a key priority of the Glen Eira Open Space Strategy, which outlines a plan to undertake detailed design and stage one implementation to open up the Reservoir as a new open space.

Then and Now: 5 Year Comparison of House Prices in Glen Eira and Bayside

Ormond, St Kilda East, Caulfield South and Murrumbeena experienced the most notable increases.