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Property Styling Prices 2017-2018

By September 13, 2018 No Comments

Property Styling Prices & Performance Statistics 2017/18

Property Styling is again, this year, one of the most reliable investments you can make when preparing your home for sale.

If you would like to get an understanding of property styling prices in Melbourne at the moment, then read on.  Even more importantly, if you would like to understand what that investment in property styling actually gets you, you are in the right place.

At Jim’s Interiors we track the statistics of every property styling installation we do.  Which is fortunate as there is very little Australian data published about the performance of the property styling industry.  We are really hard nosed about making a difference to your final sale price and how long it takes to sell your home.

We monitor factors like;

  • House Data
  • Suburb Profile
  • Clearance Rates
  • Days on Market
  • Listed Price (or advertised auction range)
  • Final Price
  • Property Styling Prices
  • and much more

From this continual process of data analysis we are now able to update you on our own performance in the property styling industry in Melbourne and to help you understand what your Return on Investment in property styling might be.

Property Styling Prices 2017/2018

These property styling prices are reflective of our averages charged in 2017-2018 financial year here in Melbourne.  We also work in some outer suburbs and regional areas of Melbourne too.

 

Av. Cost of Property Styling

2016/17

$         2,803.78

2017/18

$          3,130.33

Average All Time

$      2,967.05

 

 

Av. Cost of Partial Property Styling
 $             2,334.91  $          2,683.93  $      2,509.42
Av. Cost of Full Property Styling
 $             3,090.31  $          3,362.00  $     3,226.15

Av. Price Property Styling (Vacant / Full) By Property Size

Av Price Property Styling – Studio / 1 Bed Apartment
 $             1,373.00  $          1,969.00  $      1,671.00
Av Price Property Styling – 2 Bedroom Apartment
 $             2,212.00  $          2,332.00  $      2,272.00
Av Price Property Styling – 3 Bedroom Home
 $             3,079.00  $          3,370.00   $      3,224.50
Av Price Property Styling – 4 Bedroom Home
 $             4,673.00  $          4,325.00  $      4,499.00
Av Price Property Styling – 5 Bedroom Home
 $          5,547.00  $      5,547.00
jims-interior-design-property-staging

Property Styling Performance Statistics

So now we know all about property styling prices in Melbourne.  The price of property styling is often one of the first questions and most often the stated reason for a client calling us.  Arguably it’s more important to understand what the return on that property styling is likely to get you.  Knowing how many dollars will you make for every one dollar you invest in property styling is critical.  Depending on your situation you should also find out how many days on market you will save.

Here are some of the property styling performance statistics you may like to know about Jim’s Interior Design.

Property Styling Contract Extension Required

2016/17

7%

2017/18

25%

All Time Av.

16%

Property Styling Contract Extension Not Required

91% 75% 83%

Sold Status

Not Sold
2% 3% 3%
Sold Before, At or After Auction
98% 97% 98%
Suburb Av Clearance Rate (the total average auction clearance rate of suburbs where we have styled property)
73% 68% 71%
Percentage by Which the Average Suburb Clearance Rate is Improved
25% 29% 27%
 Av. Days to Sell Compared to Suburb Average
Av. Days on Market in Suburbs where we Style Property
57.5 45 51.25
Av. Days on Market of Property we’ve Styled
36 40 38
Percentage Improvement on Days on Market
37% 11% 24%
Av. Improved Sale Performance Compared to Suburb Average
Average Improvement on Suburb Av
$           61,454.00 $      104,091.00  $    82,772.50
Average Sale Price Styled Properties
$         879,272.00 $      891,755.00 $   885,513.00
Average Sale Price – Suburb
 $         817,818.00  $     787,664.00 $   802,741.00
% Improvement on Average Suburb Price
 8%  13% 10%
Average Improvement on Ad Price
$           46,182.00 $        69,444.00 $    57,813.00
Return on Investment – % return based on $ invested in property styling
21% 32% 26.5%

Property Styling Performance Analysis 2017/18

Due to the limited arguably negligible availability of publicly published data about the property styling industry in Australia, this analysis is limited to our own business activity.

The good news:

  • The ROI on our property styling has improved from 21% to 37% over the past year
  • 97% property we style sells
  • Styled homes beat the suburb clearance rate by 29%
  • Styled homes are reducing the average no. days on market by 11%
  • Homes we’ve styled are getting $104k more than other comparable property in the same suburb
  • Homes we’ve styled are getting $69k on average more than their advertised price

But, it’s not all roses.

There is a strong correlation to broader trends affecting the real estate industry to which the property styling industry is closely tied.   For example, the recent slow down (occurring throughout mid 2018) had begun to impact our statistics by May 2018 and is expected to continue to impact the industry and our performance in the first quarter of the 2018/19 financial year.

Traditionally July is our busiest month of the year for property styling as vendors rush to the market for sales from mid to late August onward.  That certainly hasn’t occurred in 2018, with a much slower start to the traditional Spring selling season.  This mid year period has been also characterised by dramatic falls in the auction clearance rate and a rise in discounting.

This is most clearly reflected in the rate of our Contract Extensions.

A contract extension occurs when the original 6 week property styling contract period expires and the property has not sold or may not yet be unconditional.  Vendors seek an extension allowing the furniture to stay in place longer.  This rate has jumped up from 7% in the previous year to 25%.  Ultimately the properties are mostly all still selling.  Our rate of unsold (usually the vendor elects to withdraw the property from market and tenant it out) has only increased from 2% to 3%.

Similarly the number of days on market has increased further evidencing this trend.  The gap between suburb average days on market and average days on market of property we have styled has dropped from over 37% last year to just 11% this year.   Still better than average but now only by about a week.

Arguably in a patchy and more challenging market property styling becomes more important than ever.  The figures are stacking up strongly in favour of pre-sale home preparations and styling as it seems gone are the days of putting any property on the market, in any condition and getting a suburb record price.  The return on investment is improving which supports this position.  However patience will be needed as campaigns are taking their time, for at least the foreseeable future.

Falling Clearance Rates

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