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Welcome to Edition 3 of
Hodges Happenings
What a terrific day at the Elwood Bathers last week where Corporate hosted a luncheon to celebrate 2023 National Property Managers Day.
It was wonderful to meet so many of our property managers from across the network. The lunch included many highlights some of which were the trivia run by PM guru Metta Gorway Hayes, beautiful show bags for each guest and the abundance of prizes. The Caulfield office cleaned up!
It was an honour to host one of the first Corporate events in my new role at Hodges and to say thank you to everyone in our Property Management teams for all the hard work and efforts achieved over the past year. A special thank you to Amanda and Deborah for organising this great event. See more about the event and photos in article below.
On the market side of things, last week we saw the clearance rates slightly decrease in Melbourne and that trend has held steady for a month or so. Interesting to note, Melbourne is down by about 6% of auctions compared to last year. However, clearance rates are 24% higher than last year. I believe the industry is doing a great job educating vendors and are very skilled at getting the price right for auction day. The big test will be the upcoming spring season. All signs at this stage is that listings might free up a bit. Will the clearance rates stay consistent around 70%? Time will tell.
Capital City Auction Statistics (Preliminary)
Source: Core Logic
And finally, I notice there is talk the State Government may introduce “rent caps”. Although this may safeguard some tenants in current leases to increased rents over the next few years, this will have a significant impact on the rental market. Firstly, there will be some property owners selling and getting out. Secondly, very few investors will buy in such a regulated market. As a result, there may be a lack of supply. Consequently, property being re-let or coming onto the market for rent will be more limited. This section of the market being unregulated and upcapped will create skyrocketing rents. This will create a two tiered market. One regulated with frustrated rental providers – owners, the other unregulated and due to the lack of supply, sending rental prices through the roof. Hopefully, common sense prevails. Interesting times ahead.
Don’t forget to book your seats for the Hodges Awards Night on the 17th August and a reminder to Directors to submit their nominations.
Best regards,
Gary Dans
Head of Franchise Relationships
Hodges Corporate
New Director for Brighton
It is with much pleasure that we announce Andre O’Brien as a Director of Hodges Brighton office.
As most of you would be aware, Andre has a wealth of experience in the Bayside property market, and we have no doubt that Andre will bring a strong work ethic and new initiatives to the business.
Please feel free contact Andre and welcome him to the Hodges family.
Andre O’Brien
0437 917 007
aobrien@hodges.com.au
Office Spotlight
Hodges Ocean Grove
A spotlight on our Bellarine friends from the Ocean Grove office.
After a slow start to 2023, the Bellarine market has seen a rise in sales volume as property prices begin to align with the expectations of current buyers. We are witnessing an increase in buyer activity during the last quarter.
Notably, we achieved a record-breaking price in the Estuary Estate of Leopold, with the sale of 17 Ascent at $1.25 million.
Outstanding Sales Results
1112-1120 Bellarine Highway, Wallington $1.55M
15 Sylvan Lane, Ocean Grove $2.2M
Recent Listing
156 Dare Srreet, Ocean Grove $2.1M-$2.2M
Community
The Ocean Grove office are very active in their community with several sponsorships supporting their local sporting clubs and schools:
- Ocean Grove Cobras football club – Office Director Jason is the football operations and on the committee for the Cobras Football Club
- Ocean Grove Primary School
- Ocean Grove Primary School Apple Fair
- Ocean Grove Primary School Trivia night
- Wallington Primary School
Wow Property
Take a look at this incredible property just listed by the team – 117 Ocean Throughway, Ocean Grove $2.3M-$2.4M
Embrace coastal living in this beachside sanctuary! Just steps from the shore, enjoy the serene symphony of waves and relax by the all-new resort-style pool. Entertain guests on the large deck while surrounded by established trees. With 5 bedrooms, 3 bathrooms, and modern amenities, this home is perfect for your family.
Ocean Grove Team
(left to right – Tiffany, Lauren B, Lauren C, Jason, Chris, Alicia)
Hodges Events
Celebrating National Property Managers Day
Hodges celebrated National Property Managers Day in style this year at one Melbourne’s iconic bayside restaurants, Elwood Bathers on Friday 21st July. With over forty guests from our property management teams attending the celebration, Melbourne’s winter weather put on its charm creating the perfect backdrop of sunny blue skies and calm crystal clear waters through the restaurants large bay windows.
In what has now become an annual corporate event to show appreciation towards our dedicated Property Managers, guests were able to reunite with former colleagues, share a laugh and participate in a Property Management Trivia quiz hosted by legendary trainer and former REIV board director, Metta Gorway Hayes. Gift bags, door prizes and French champagne were just some of the surprises in store for our Property Managers upon their arrival.
A highlight was mind-reader Paul West calling out his own number!
Visit the HUB to view photos of the day.
Awards Night
Invites have gone out for the Hodges Awards night on Thursday 17th August 2023 – visit the website
Here is the link to the Community Service Nomination Form – This is a wonderful opportunity to acknowledge an office that is going above and beyond to support their community and promote the Hodges Brand.
Start organising your table and get ready to celebrate together and acknowledge the efforts of our group this financial year.
2023 Leadership Conference – save the date!
The annual Leadership Conference will be held on Sunday 15th & Monday 16th October 2023.
More information will be advised soon.
Golf Day
Moonah Links will host our 2023 Hodges Golf Day on Tuesday 12th September.
Please save the date and start thinking of who to invite.
More information will be communicated shortly.
Help Desk @ Your Fingertips!
The following support contacts are here to assist you with any technical issues you may have.
For prompt support please contact the appropriate contacts as required:
ListOnce – Website & Property Listings
support@listonce.com.au
1300 655 448
RedHQ – Hodges HUB
support@redhq.com.au
Box + Dice
support@boxdice.com.au
1300 269 342
Email & Laptop
support@graphique.com.au
(03) 8579 6555
Hodges Directors
Human Resource Updates you need to know
A reminder that significant legislative changes came into effect from 1st July 2023. To fully understand your responsibilities, click here to read the latest updates from our exclusive HR Director Resource section in the Hodges Hub resource library.
This section has been created to assist you in staying up-to-date with Industry and Human Resource regulations and compliance.