Ray White St Albans

Ray White StAlbans Setting Records 

Located on a prime corner in Main Road East, RayWhite St Albans continues to be the market leader in the area and constantlysetting new records in St Albans

We continue to achieve outstanding results, onein particular, 80 Alfrieda Street St Albans has set the record for St Albansfor 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 1000individually owned or operated offices throughout Australasia with some 11,000staff. The company’s brand is the most frequently searched real estate brand onGoogle and their website attracts a whopping 420,000 visitors each month.
 
According to Director Shaun Marijanovic, “beingpart of Australia’s largest real estate group Ray White, allows us to build onour service levels and to achieve the best possible results for our customers.”
 
Mr Marijanovic stated that Ray White has been inproperty since 1902 so they have got to be doing something right, there areoffices throughout Australia and Austrasia and going from strength to strength
 
The Internet has revolutionised the way we allgo about our work and everyday life, he says. For real estate today this hasmeant that, “buyers and sellers want more information and expert analysis. Webelieve that our ability to provide this as a Ray White Office will sets apartin Melbourne’s West,” says Mr Marijanovic.
 
“We have greater access to industry intelligenceand faster, better training and processes at our fingertips, to provide premiuminformation service to our customers.”
 
“This investment in training, infrastructure andsystems generates better access to greater knowledge,” he says.

The property market in Melbourne’s West is ahappening place, one Mr Marijanovic believes can only continue to surge ahead,courtesy of the government’s investment into roads and rail infrastructure andthe availability of schools and shopping amenities. In particular, the SunshineHospital redevelopment, the removal of the railway crossings at Main Road andFurlong Road, together with historical low interest rates has seen property inthe St Albans are increase as much as 50% in two years for some properties.

“Buyers can get a decent house on a large blockclose to shops, train, schools, medical facilities for $500,000 –$ 550,000”  A home in an equivalent location in the Eastern and South Eastern Suburbs wouldcost over $1,000,000.
  
Brick veneer and weatherboard homes onsubstantial sites are being bought by developers/.investors and individualswith a view of either redeveloping the land into 3 or 4 units or in some caseskeeping the existing home and building a unit at the rear, these lots areusually 650m2 to 800m2, he says.

Such generous block sizes reflect the 60spredilection for the quarter acre block– “they are now few and far between withnew house lots typically being 400-500m2,” he says.

“We have found that the highest demand has beenfor 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 recognisingdevelopment potential, some property owners are even preparing developmentplans to aid a sale and potentially increase the price,” says Mr Marijanovic.
 
As for the immediate state of play, St Albanshas been booming since 2014 and continues in 2017, we have sold property insome cases within months of purchase for substantially more. A couple of examplesinclude; 309 Main Road East St Albans which was sold for $940,000 in May 2015by a local agent and resold by Ray White for $1,400,000 in October 2015, thatis a whopping 48% increase in 5 months. Another example is 78 East Esplanade StAlbans which again was sold by a local agent in November 2015 for $360,000 andresold by Ray White in February 2016 for $480,000 that is a 33% increase in 4months.

Ray White continues toachieve outstanding market leading sales results and will continue for the next115 years.