CBRE expands specialist prestige residential valuations team to Victoria

Leading valuation provider CBRE has expanded its high-end residential valuations division to Victoria following a successful New South Wales launch.

Led by John Beresford, the Victorian Prestige Residential Valuations team will build on services CBRE was already providing in the $5 million+ price bracket for both mortgage providers and private clients.

CBRE is one of the largest providers of residential and commercial valuations Australia-wide.

The Australian head of CBRE’s Residential Valuations business Kat Hale noted, “While we were already servicing the prestige market, the establishment of our dedicated NSW and Victorian divisions will allow us to grow our high-end market share and better service our clients, drawing on a team of highly skilled professionals. The quick success of our NSW team accelerated our Victorian launch plans, with Melbourne’s premium residential market showing signs of strong growth in 2024, underpinned by low supply and heightened demand.”

Ms Hale noted that migration had been one of the key demand drivers, and that various Melbourne prestige auctions this year had far exceeded reserve prices.

“Our new Victorian division will provide our clients with high quality valuation reporting in this market segment, and we will be looking at further opportunities to expand our national reach, drawing on our knowledge, skills and systems,” Ms Hale said.

The Victorian team will be led by Mr Beresford who has over 25 years of valuations experience, including 13 years at CBRE.

Over the past 12 years, Mr Beresford has focused on the prestige residential sector, undertaking hundreds of valuations in the $5 million+ category across all areas of Melbourne as well as the Mornington and Bellarine peninsulas.

This includes assessments on homes valued in excess of $40 million and penthouse apartments valued at more than $20 million.