Spring property guide 2016 by Star Weekly

SPRING

PROPERTY GUIDE

Meet your local real estate experts, learn about buying and selling property, finance, investment properties, growth regions, renovating, decorating and a whole lot more.

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SPRING property guide

Your essential guide to all things property Welcome to our second edition of Star Weekly’s Spring Property Guide.

risks of building “off the plan” as opposed to purchasing an existing property (page 9).

Response to last year’s first edition was overwhelmingly positive, so we’ve once again collated the best local information and real estate agent wisdom to help you buy, sell or simply renovate your home.

For growing families, we look at squeezing in some extra room by renovating your attic (page 10).

This guide has something for everyone.

All the latest trends are discussed on page 16, including that modern metallic look, sustainable influences and latest color trends.

Star Weekly has once again assembled its team of reporters and real estate experts to arm you with the latest information on suburbs and property “hot spots” throughout the western and northern suburbs. Coupled with Australia’s leading online real estate website, Domain.com.au, you can access the best and most affordable properties in the region. Australian property market expert Dr Andrew Wilson explains how the west is primed for a super spring, with robust price growth and low interest rates creating a great real estate market for buyers and sellers (page 5).

Our guide looks at building “vertical gardens” (page 12), as well as how to create “feng shui” on a budget (page 14).

To help guide you through the western and northern suburbs, we have created sections featuring the latest information, including key statistics, from our key municipalities. Once again, Star Weekly is delighted to work with our real estate professionals to produce this special Spring Property Guide for our readers. We hope you will enjoy reading it as much as we have putting it together.

On page 7, we offer up six simple but effective tips to help make your property more attractive to buyers. The decision to break into the market is often a difficult one. On page 8, Star Weekly looks at the pros and cons of purchasing a home for the first time.

Jack Gillespie,

To help your decision making, we look at the benefits and

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ADVERTISING REAL ESTATE SALES DIRECTOR \ JACK GILLESPIE jgillespie@starweekly.com.au SALES DIRECTOR \ BEN SUTTON bsutton@starweekly.com.au

EDITORIAL EDITOR-IN-CHIEF \ STEPHEN LINNELL slinnell@starweekly.com.au

Published by MMP Star Pty Ltd ACN 168 220 399 Head Office Corner Thomsons Road and Keilor Park Drive, Keilor Park, 3042 Publisher/General Manager, Colin Moss All material is copyright to MMP Star Pty Ltd. Responsibility for election comment is accepted by Colin Moss. All significant errors will be corrected as quickly as possible. Distribution numbers, areas and coverage are estimates only. For our terms and conditions please visit starweekly.com.au

CONTENT

SPRING

North, west primed for a super spring

A bit of extra colour can help seal the deal

The north and west rise and rise.

Making your property more attractive to buyers

The costs of buying

Buying off the plan

Attic attraction

Are you ready to buy?

The benifits and the risks explained

The forgotten space in your home

Home automation

Going vertical

Tree change satisfaction

The feng shui flow

Bung on the glitz

Everything can be at your fingertips

The alternative to the sea change

Arranging for good luck and prosperity

Interior trends are continually evolving

Tuscany, Bali, Spanish or Provence

It’s time to get creative in the backyard

Wyndham

It’s a sellers market in Wyndham

Maribyrnong & Hobsons Bay

Brimbank & Northwest

Melton & Moorabool

Sunbury & Macedon Ranges

Inner west property is in hot demand

Property values on the rise Investment, lifestyle and location

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Spurred by city proximity and beauty

Northern

Booming powerhouse behind city growth

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The challenges of a vertical garden

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North, west primed for a super spring By Dr Andrew Wilson There’s a spring in the step of the Melbourne property market as the north and west rise and rise. The market enters the spring selling season with plenty of momentum with increasing auction clearance rates reflecting solid buyer and seller confidence. Auction clearances spiked in August following the Reserve Bank’s decision to cut interest rates to a record low of 1.5 per cent. Buyers continue to be activated by the best home lending environment in living memory, with banks keen to compete for loan market share. Melbourne’s west and northern suburbs have been clear leaders in market activity this year, consistently reporting clearance rates above 80 per cent and, on some weekends, more than 90 per cent. These boom results have resulted in robust price growth in most suburbs, with these regions clearly in catch-up mode following subdued buyer activity in recent years. Strong perceptions of value opportunities in

middle and outer northern and western suburbs will continue to drive heady results through spring. The likelihood of another cut in interest rates will only fuel activity in these markets. Investors are a key ingredient of rising market activity in Melbourne, with a recent reported surge in lending to this group lifting it to the highest levels since the peak of the investor boom in June last year. Tight rental markets, relatively high yields and the prospect of continual price growth will act to encourage investors, particularly into the higher return markets of the north and west. Recent high clearance rates also reflect lower numbers of listings with strong competition among buyers for available stock. A forecast strong spring is in sharp contrast to last year, when the market clearly ran out of puff in the final months of the year. A robust local economy, continued high migration, low and falling interest rates and confidence to burn will ensure that this year’s spring selling

season is the best for years – particularly for the north and west.

Dr Andrew Wilson is Domain Group chief economist Twitter@DocAndrewWilson

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SPRING property guide Clean surfaces, a bit of extra colour can help seal the deal Eleanor Tabone Selling your house can sometimes be a stressful and time-consuming task, and without experience you’ve got a complex and often emotional transaction on your hands. By making a few small and inexpensive changes you can make a big impact on your property’s attractiveness and selling price. Here are some tips on how you can get the highest possible price for your house within a reasonable time frame and still keep the stress levels down. Make your property more attractive to buyers from the get-go: Sit pot plants at the front door. Spruce up your front door with a fresh coat of paint. Invest in a new door mat. Style your lounge room: Paint the room with neutral or receding colours like blues and greens to make a small space appear larger. Give your room a focus with a feature wall. Clean the carpets and repair any damaged floorboards.

A run-down bathroom can be a house’s real downfall. To keep it simple: Ensure the bathroom is spotless and the tiles are clean. Fix or replace any cracked vanity units, toilets or tubs. Air the bathroom before inspections – bad smells are a real turn off. A bedroom should offer comfort and relaxation. To create the right retreat atmosphere: Reduce the amount of furniture in small bedrooms to make the rooms look bigger. Add built-in wardrobes for storage. Install dimmer switches to give the bedroom atmosphere. Don’t forget the backyard – it’s a big selling point for families. To make buyers want to step outside: Mow the grass and weed the garden beds. Add a focal point. Introduce colour with flower pots.

Install new handles to give the kitchen a fresh look.

And to finish off, ensure all areas have been dusted and vacuumed, and place new light globes in all rooms. Add colour to neutral rooms through accessories. Make sure the house smells nice.

Remove benchtop clutter.

Keep animals outside during inspections.

The kitchen is often the house’s selling point, so giving it an update can work wonders. In the chef’s domain: Replace scratched or stained benchtops.

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Don’t underestimate the costs of buying Eleanor Tabone Buying a house for the first time can be daunting and it’s difficult deciding whether to compromise on the must-haves and go with the first house that falls into your price range … or simply continue to rent and wait for ‘the one’ to pop up on the market.

a firm grasp on your incoming and outgoing expenses and know exactly where all your money is going.

To help you through the process of buying your first place, we’ve put together some tips on what to consider, what to expect during the buying process, and ways to make your life easier after purchase.

Tip 4

Tip 1 Ask yourself, are you ready to buy? Some first-home buyers make the mistake of thinking that if they’ve got money saved up for a deposit they’re ready to buy. The truth is that there are many costs involved other than the price of the home; they include inspection reports, lenders mortgage insurance (LMI), solicitors’ costs and stamp duty. Tip 2 Budgeting is essential and ensures that you don’t splurge on expenses. Many first-time buyers find themselves in difficult situations because they didn’t stick to a budget or because they simply didn’t create one. The best way to avoid over-extending is to have

Tip 3 Take advantage of the first-home owner grant if applicable. Consider all aspects of a property. Don’t let your emotions get the better of you, and control your imagination. Getting caught up with the aesthetics of a property is a distraction. Rather, consider what the local council is like and what services it offers. Tip 5 Look at the suburb as a whole. Is there public transport nearby and are there any building development plans near the property? Tip 6 Always, always get a property inspection. A building inspection highlights any potential problems and building and pest inspections can be used to negotiate price. Don’t become victim to structural faults and water and pest damage. Getting a third party to identify any issues before purchase will give you bargaining power with the seller.

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The benefits and pitfalls of ‘off the plan’ Eleanor Tabone Buying ‘off the plan’ simply means buying a property that hasn’t yet been built. It can sometimes be a more flexible and affordable option than buying an existing home. For some, the excitement of being the first person to live in a residence and plan the colour schemes and decorations is appealing. But there are also some common pitfalls to watch out for. The benefits: A locked-in price: You pay the current market price for a property, even though it will be completed in the future. Securing a high-value asset for a low initial capital outlay: While a deposit is made to secure the property the entire payment doesn’t need to be made until the property has been built. This provides you with time to organise your finances and sell your existing house without the need for bridging finance. Increase in property value: If the market experiences growth, the property you purchase off the plan today may increase in value when you settle. Tax advantages: For investors it’s possible to claim depreciation on your tax for items such as fixtures and fittings. Stamp duty savings: Some state governments offer bonuses and reductions on stamp duty for buying off the plan. Seven-year builder’s guarantee: Newly built properties in

Australia come with a seven-year builder’s guarantee. This means any structural or interior building faults must be repaired by the builder. The risks: Falling property market: There’s a risk that you may pay too much for a property if the market falls between the exchange of contracts and building completion. Failed expectations: Many builders don’t let you see the property until construction is complete. This means there’s a risk that what you envisioned won’t be what you receive, and the quality may not meet your standards. Ask for regular updates and inspections to ensure you get what you asked for. Rising interest rates: Interest rates could increase before you settle. This could be a problem if you wanted a fixed loan. Bankruptcy: A developer could go into liquidation before the project is completed. Choose your developer carefully and make sure you do your research thoroughly. Buying off the plan has its pros and cons, but remember: before you sign anything, ensure you visit the property site and check out the location. Inspect displays, models and plans and investigate the fixtures, fittings and finishes. Research the developer and the market conditions and speak to an expert to determine if buying off the plan is best for you.

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STARWEEKLY \ SPRING PROPERTY GUIDE 9

SPRING property guide

Attic attraction: there’s a lot to like about this extra room Carole Levy As families grow, they can find they need extra space but don’t want to disrupt their lives and neighbourhood connection by relocating. The question arises: should an extension be considered? When a backyard is small, adding another level may be the only option, or perhaps an attic conversion could work. Not every attic is suitable for conversion. You may need planning permission and all building regulations must be complied with – so it’s essential that professionals are involved. They may include an architect, builder, engineer or surveyor, and so forth. Five questions to ask before making a decision: 1. Will your ceiling handle the weight? Some older-style slab homes or package homes can’t withstand the weight of an upwards extension. A structural engineer will need to check it out for feasibility and may be able to suggest ways to work around structural limitations by distributing weight correctly. 2. Is there enough space for a room(s)? If you have 2.4 metres of head space in 60 per cent of the area, you have the space to create a room. Older homes often have more space than

newer places, and a steep roof pitch suggests the possibility of sneaking in an extra room. Consider how the room will be arranged so that seating and storage sit under the lower ceiling height. 3. Is insulation important? As the ceiling cavity is inspected, you will likely notice it’s either much hotter or colder than the living areas. Any living space or bedroom will need thorough roof cladding and insulation. Have your existing roof inspected to ensure there are no leaks; water can ruin insulation so watertightness is essential. 4. How about ventilation and lighting? These two elements are important parts of a roof conversion. Installation of skylights or roof windows is probably non-negotiable and will make the space lighter and more cheerful. Choosing windows that can open will provide essential air flow, so this factor is important to liveability. 5. What about the cost? Attic conversions cost about a third of the price of moving to a property with an extra room, and they could increase your property’s value by as much as 25 per cent, especially if it’s a bedroom/bathroom addition.

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Call in the experts for home automation Carole Levy Even a decade ago, the idea of home automation seemed like a futuristic dream, but now these systems are the new must-haves. Your iPad, iPhone or Android device will enable you to switch on and off just about anything electronic around the home, whether you’re at work, on holidays or just around the corner. Home security has become hugely important. A remote-controlled system that alerts you of window breakage, door openings and unexplained movement on your property brings greater peace of mind. Before choosing a system that best suits your needs and budget, here are some pointers from the experts: 1. Plan ahead Decide if you want lighting, curtains, radio, garage-door or air-conditioning to be controlled from your device, or if you want to integrate a security system. You can even go the whole hog and include your home theatre or living room TV set-up. Your installer needs to know your every wish before proceeding. 2. A good wifi router is essential If you have a high-quality wifi signal across your property, your various systems will be able to communicate with

each other without any chance of drop-out. 3. Different entertainment device brands You don’t have to keep all entertainment devices within the same brand – it’s not necessary, for example, to have a Samsung TV and a Samsung Blu-ray player – but it might help those devices to ‘talk to each other’ through their proprietary networking standards. 4. Don’t think you’re an expert When it comes to complex, it’s best to leave it to people who’ve done it before. You will need professional advice if you’re going all-out with serious smart home technology like lighting, irrigation, pool pumps or solar energy. And touching 240V electricity wiring or your home phone line is a big no-no. 5. Updates If, for example, you change from a Sony TV to a Samsung, you’ll probably have to re-program your system, but this isn’t a difficult job because it can be handled by your installer, either remotely or in person. Keep your installer’s details on file.

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SPRING property guide

Think laterally, go vertical for summer Carole Levy Constructing a vertical garden may seem like a bit of a challenge for people who don’t see themselves as anywhere close to owning the skills and creativity of, for example, The Block contestants. While they may be appreciated on an aesthetic level and acknowledged as an amelioration of the heat load on house facades, vertical gardens may also require a big chunk out of the wallet. But they don’t have to be put in the ‘too hard’ basket for the average suburban house owner, nor do they need to cost a mint. Yes, if you want the fancy individual pots tucked into expensive pre-fab frames, they aren’t cheap and will most likely need the services of a professional to install. But the undoubted energy-saving benefits of a green wall can be quite simply enjoyed by using something as simple as attaching a timber or steel trellis to an exterior wall – keeping a gap between it and the supporting wall – and growing a vine from the ground. Not only does the vine’s vegetation create shade and provide passive cooling via transpiration (evaporation

of water), the gap allows convection (transfer) of heat passing up through it. A deciduous, non-invasive vine is probably the best choice for Melbourne’s climate, with shade and lowered wall surface temperature effective in summer heat and the opposite true in winter. As for covering pergolas, an ornamental grape vine which turns from green to orange, red, burgundy and yellow in autumn, might be a good choice to become a ‘green wall’. If in doubt, speak to your local nursery people. If you’re happy with the idea of planting an evergreen vine, it’s hard to go past a passionfruit vine, which grows quickly, looks lush and produces delicious fruit – a true vertical garden. Walls facing west take the hardest hit in summer, so if you’re lucky enough to have one without windows, this is where to whack up your green wall. While most people seem to relish having north-facing windows for their natural light admission, the northerly aspect is also a summer scorcher and a good contender for a green wall.

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Watching Melbourne house prices continue to soar, getting stuck every day in traffic, lengthy work commutes and the feeling that life has become a bit of a rat race can make the idea of a tree change very appealing.

Find satisfaction up the garden path Carole Levy

Before the GFC struck, many retirees were heading to one of the many pretty regions within an hour of Melbourne, but now it’s the 24 to 64-year-olds making moves to new horizons, particularly within the Macedon Ranges. No big move should be taken lightly, though. Some who have been through it report a feeling akin to nobility, because lifestyle and family take precedence over making money and heading up the career ladder. This same group concedes that it can take a while to fit in to a new community, but once they joined local groups, did some volunteer work and discovered a bunch of lovely people, it really pays dividends. And workplaces are now far more flexible, with many people working from home – with perhaps a weekly commute to the office – so career paths may not be as seriously affected as first thought. Other thumbs-up include getting much more bang for your house and land buck, not having to queue for a weekend brekky table, and discovering a deeper connection with people and nature. However, researchers encourage lots of fact-finding before making a tree change. Subscribing to a local newspaper beforehand is their first bit of advice, because it will give you strong clues into the property market and how the place works. They also warn that a happy holiday experience in a particular place doesn’t necessarily translate into permanent satisfaction. Some important reality checks should include questions about: Medical facilities – are there problems attracting medical staff? How far from a hospital? Security – is there a 24-hour police station? Is there Neighbourhood Watch? Transport – is there a train station nearby? How long is the trip to and from Melbourne in peak hour? Communications – is the internet service reliable? Is there a mobile phone black spot? Cost of living – how do food and petrol prices stack up? Schools – are they highly regarded? Bushfires – do you know how to prepare a survival plan? Are you ready to pitch in when emergency workers are overstretched?

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When everything eventually works out, it can prove the best decision you’ve ever made – but when it doesn’t, it can be very costly in terms of money and emotions. Keeping eyes on the prize but wide open to pitfalls will hopefully lead to a successful venture … and don’t forget to ask for help if you need it.

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SPRING property guide

How to go with the feng shui flow on a budget Eleanor Tabone Think re-arranging your house according to the historic Chinese system feng shui is too far-fetched for you? Think again – there are plenty of feng shui elements that are completely down-to-earth and won’t hurt your hip pocket. Feng shui, pronounced “fung shway”, which translates as wind-water, is the Chinese perspective governing property arrangements in relation to the flow of energy, or “chi”. Basically, it’s the practice of arranging your environment so that energy can flow gently and uninterrupted within a house. Nowadays, many people use the practice to arrange their houses for good luck and prosperity. Here are some tips to help you arrange your home feng shui-style. LIVING SPACES In general, there shouldn’t be any obstacles as you cross the space. It should be an intimate arrangement, inviting people in. Furniture pieces should be close but not jammed together. Each seat needs a surface on which to rest an item to make it more welcoming. The sofa should be against a solid wall, ideally the wall farthest from the entry but with a clear view of the door. Leave a few inches of space between the sofa and the wall. Coffee tables should be circular or oval to let energy move around easily. Harsh angles are a no-no. If you have a big window opposite the front door, the energy can fly right out, so use drapes or blinds. Put something in front of the window, like a plant or a pretty reflective bowl, to bounce energy back into the room. Shed light on dark corners to activate energy – dark areas represent neglect of certain aspects of your life. Rich and saturated colors are great in public spaces. Red is invigorating and navies are energising. Move a favourite item to a prominent spot. When you walk into the room and see something that brings you joy, you, in turn, will send joy back into the space. KITCHEN AND MEALS AREA The kitchen is where you get nutrition essential for healthy functioning, so the decor shouldn’t be too left of field. It should reflect who you are. A neglected dining room is a feng shui no-no. If you don’t eat in the designated dining spaces, make sure you find a way to use them. BEDROOMS It’s best to mix masculinity with feminine details. Incorporate a wood-framed bed with an upholstered headboard. Or pair silk drapes with a straight roman shade. The head of the bed should be on the wall farthest from the door, but not directly across from it. Feet pointing directly out the door is known as the coffin position, as this is how the dead are taken away in China. You need to have a clear view of the door. Leave space on both sides of the bed as each person should have adequate lighting and easy access to the bed without climbing over the other. Keep lighting soft – unless you read in bed. A feng shui’d bedroom needs to feel comforting and secure – and the bed the is key.

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Bung on the glitz with metals, or perhaps bring the outdoors in Eleanor Tabone House trends are continually evolving and designers and architects are always looking for new ways to be ahead of the pack in their interior fit-outs. Here are some tips on styling your home in 2016. 1. Get glitzy with modern metallics: metallics Metallics have the ability to instantly add sophistication and glamour to any space – add a sliver of sleek silver or chrome or warm a room with gold, rose gold or copper. Experiment with metallic trends by mixing and matching or give a room a focal point by using one type of metal. 2. Sustainable influences: There’s been a big push toward eco-friendly interiors where the focus is on using interior design elements that look great and minimise impact to the ecosystem. Incorporating natural materials such as wood or stone and artisan products is an easy way to achieve this. 3. Bring the outdoors in: There’s been a comeback of plant-inspired decor, florals and animal prints. And a little goes a long way, especially when it comes to these bold looks. Rather than fitting out a whole room in a big or heavy pattern, use it on one or two pieces to give the room a focal point. This will ensure your room stays modern but isn’t too over the top. 4. Get groovy with geometrics: Giving a room a visual interest and impact is easily achieved by adding a few geometric shapes. This ’70s-inspired trend will turn heads and is easily incorporated into any design. Those who like the ultra-modern look should consider making a statement with shapely furniture pieces or light fixtures. For something more traditional, simply incorporate a geometric pattern into the room with floor tiles or accent textiles. 5. Be bold in blue: Every year there’s a color trend, and in 2016 it’s blue. Be bold with cobalts, navies and royal blues. Create intimate and relaxing spaces by giving your walls a new coat of blue paint or bringing some brightness to your kitchen cabinets. Adding a pop of blue through a statement piece of furniture or an accent piece is also a great way to stay current without making a major commitment.

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Tuscan Flowering vines over pergolas, sandstone pavers and large urns take you to Tuscany.

Spanish Natural elements, symmetry and flowering plants support the look of Spain

For your backyard, a taste of Tuscany, Bali, Spain or Provence By Carole Levy As backyards become smaller, landscaping has, in some ways, become easier – but it has its challenges. The smaller the space, the more attention is needed in the planning stage. One of the biggest mistakes DIY garden designers can make is overestimating what can be successfully squeezed in, while maintaining the feel you want to create. But once you’ve worked out the right scale of gardens and any structures you may want to add, it’s time to get creative with the details. Small backyards can be made into wonderful courtyards, spaces to invite outdoor relaxation and entertainment, in surroundings that have a theme to set the mood. Here are four garden motif ideas to get the creative juices flowing: 1. Spanish ole The Spanish look suits our hot, dry climate and is all about tiered water fountains, symmetry, Moorish lanterns, urns and ceramic mosaics. A water fountain may be a stretch in a small space, but an arbour constructed of chunky, rustic timber with a deciduous ornamental grapevine growing over it looks the part. Beneath the arbour, you can have large concrete tiles, or old bricks interspersed with geometrically-laid ceramic mosaics. Add a large terracotta pot or three, planted with hibiscus, lavender or plumbago, along with wrought-iron seating, and you’ll have the essential look. Succulents, yuccas, potted geraniums and oleanders all support this theme too. Plant in groups of three, five or seven to soften formality – but aim for symmetry at the same time. 18 STARWEEKLY \ SPRING PROPERTY GUIDE

2. Pictures of Provence Think natural materials, such as wood, sandstone, old bricks and loose gravel. Rustic sleepers delineating beds of lavender, wooden crates holding potted vegies, large terracotta pots planted with citrus trees, and rustic or iron tables and chairs … these give the look of Provence. Lay bricks in geometric shapes, for example, a circle to rim vegie patches, let a honeysuckle or climbing rose cover an arbour or pergola constructed of natural timber. 3. Balinese beauty Showy flowering plants, palm trees and bamboo, highlighted with feature lighting, start the look. Timber decking, large pots and dark-stone Buddha statues, fish ponds, stepping stones and lanterns are part of the Balinese style – along with thatch-covered, timber pergolas, or cabanas, featuring Asian-style carving in support posts. Add a hammock beneath, or a low-to-ground day bed with plush cushions, to recline on. 4. In touch with Tuscany A wisteria-laden pergola, with sandstone pavers below, kicks off that Tuscan feel. Aim for a private courtyard feel by planting vines on fences or lining borders with pencil pines. Potted lemon trees, urns full of geraniums, topiary shrubs and a pond of waterlilies are other elements to be considered. Vertical wall gardens, with pastel-toned plants, are also a great match with the Tuscan look. And lavender, in pots or clumps amid gravel, also works.

Provence Rustic pots, iron tables and lavender set the Provencal mood

Balinese Tropical greenery, showy flowers and airy space to laze in take you to Bali

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Wyndham 20 STARWEEKLY STAR \ SPRING PROPERTY GUIDE

SPRING property guide

Wyndham – affordable, popular and selling quickly See

prop

erty

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W I L LrtyI A listiM S T O W N ng

* Some of Melbourne’s leading Real Estate Agents list their properties 1st on reviewproperty.com.au

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W Y N D H A M VA L E

* Some of Melbourne’s leading Real Estate Agents list their properties 1st on reviewproperty.com.au

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By Charlene Macaulay

It’s a sellers market in Wyndham.

“The buyers are certainly outweighing the number of homes available – it’s great if people are selling.”

That’s the word from real estate agents across the city, who cite new and upgraded infrastructure and low interest rates for driving up property prices.

YPA Estate Agents Werribee director Bassam Tofaili said Hoppers Crossing – particularly the Woodville, Cambridge and Mossfiel estates – and central Werribee were buyer hotspots for property in Wyndham.

The latest data from the Real Estate Institute of Victoria shows that three Wyndham suburbs are among the top 10 most affordable in the state despite strong price increases.

He said recent redevelopments such as Pacific Werribee, AquaPulse and Encore, Eagle Stadium and Wyndham Harbour and the new Tarneit and Wyndham Vale train stations had made Wyndham an attractive option for buyers.

1 strip of waterfront houses 6 miles from the CBD 0% chance of bad fish and chips st year

1 strip of waterfront houses

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.com.au

In the three months to June 30, Werribee was Melbourne’s second most affordable suburb, with a median house price of $355,000, just behind Melton West, which had a median house price of $331,000. .com.au

eading Real Estate Agents list their properties 1st on reviewproperty.com.au

perties 1st on reviewproperty.com.au

Wyndham Vale ($385,000) was listed fourth after Cranbourne ($380,000), while Hoppers Crossing was sixth ($390,000). Jay Radbourne, general manager at Harcourts Wyndham City, said Manor Lakes was becoming more and more popular with buyers since the former Wyndham Vale estate became a suburb in its own right earlier this year. Mr Radbourne said Hoppers Crossing was also in high demand, with first-time and seasoned investors – including many from Sydney – vying with first-home buyers for properties. “What we’re finding is the prices have just continued to soar, with no signs of slowing down,” he said. “People are flocking to the area and the properties are achieving premium prices.

He said most properties selling in the area were going under the hammer and achieving record prices. “We’re getting crowds at the auctions of anywhere between 70 to 100 people, and a lot of them are buyers coming to check out what’s going on,” he said. “Every auction, we’ve been exceeding the vendor’s expectations by thousands.” But Rob Westwood, from First National Real Estate Westwood, said private sale remained the most popular selling method in Wyndham. He said Wyndham Vale had experienced between 10 and 20 per cent price growth in the past year and showed no signs of slowing down. “It’s certainly a good time to be selling,” he said. “We’re probably seeing sales results that we haven’t seen ever before. “We’re seeing an average days on market of 14 days. The industry average is 30 to 45.”

Wyndham HOUSEHOLD INCOME

HOME OWNERSHIP

TIME AT CURRENT ADDRESS

WORK STATUS

Suburb Watch

Less than $40,000 per year (less than $770 per week) $40,000-$79,999 per year ($770$-1,538 per week) $80,000-$119,999 per year ($1,539-$2,308 per week) $120,000 or more per year ($2,309 or more per week)

(000) 19 43 32 25

% 16.3 35.8 26.7 21.2

SUBURB

MEDIAN PRICE

YoY CHANGE

Hoppers Crossing

$387,000

13.8%

Point Cook

$510,000

13.3%

Tarneit

$415,000

7.8%

(000)

Truganina

$418,500

13.1%

Mortgagee

30.9

Werribee

$366,500

12.8%

Home owner

26.4

Tenant

31.8

(000)

Less than 5 years

35.8

5 or more years

113

64.2

(000)

Full Time

40.5

Part Time

17.6

Not working

41.8

Source: APM Pricefinder

STARWEEKLY \ SPRING PROPERTY GUIDE 21

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STAR

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Inner west property is in hot demand from local and interstate buyers alike, the area’s real estate agents are reporting. * Some of Melbourne’s leading Real Estate Agents list their properties 1st on reviewproperty.com.au

Maribyrnong and Hobsons Bay are cementing their reputations as savvy places to buy for both investors and owner-occupiers.

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Agents say they have far more buyers on their books than available properties, and that anyone who has been holding off selling should .com.au consider putting their properties on the market this spring. .com.au Greg Hocking Williamstown sales manager Leigh Melbourne said a shortage of available selling stock through winter has pushed prices higher as buyers compete for the slimmer pickings. * Some of Melbourne’s leading Real Estate Agents list their properties 1st on reviewproperty.com.au

As spring arrives, and more buyers begin casting their eye around .com.au for property, Mr Melbourne expects the market to go from strength to strength. “The market is still very buoyant but, if you ask any agent, they will tell you there is a lack of stock at the moment,” he said.

Some of Melbourne’s leading Real Estate Agents list their properties 1st on reviewproperty.com.au

Strong interest is being shown in everything from period homes to townhouses, as buyers look to upgrade or downsize. Mr Melbourne said interest in Yarraville remains strong, while buyers who may have been priced out of such areas as Williamstown and Newport are flocking to Altona and Altona North. “We are finding in the premium market of $2 million plus there are a lot of local people trading up within the suburb,” he said.

“In that $750,000 to $1.25 million bracket, a lot of the buyers are coming from out of the area, places like Bayside or Brunswick, often people who may be starting a family – you certainly get more bang for your buck over here compared to elsewhere in Melbourne.” Raine & Horne Williamstown director Nathan Smith said the market has been picking up in recent weeks, and more listings are coming through, particularly from around Newport and Spotswood. “Lots of families are looking at buying at the moment, particularly in that $1million to $1.5million price range,” he said. “We have had 82 per cent of our buyers coming from out of the area, people from the north and east getting priced out of those areas.” Agents are struggling to keep up with the demand for three and four bedroom homes with two bathrooms. “Out of all of the properties, those are the most in demand,” Mr Smith said.

HOME OWNERSHIP

TIME AT CURRENT ADDRESS

WORK STATUS

“You’ve got the sun coming out, the beautiful weather, gardens are looking nice.” Mr Gualano has found people living in areas such as Footscray, Yarraville, Newport and Williamstown may have found their housing needs are changing, but don’t want to leave the area. Add this to the many people looking to move to the inner west, and competition for available homes is going to go from strength to strength, he said. “What’s so good about the area is the proximity to the city,” Mr Gualano said. “But it’s not so close that you cop the traffic. “You can still have a bit of a front yard or backyard – you really have the best of both worlds.”

He noted there has also been a flood of investors coming from New South Wales looking for better returns than they can gain in Sydney.

Mr Gualano said a high level of interest but low availability of land keeps prices rising. It is also driving the development of a lot of new townhouses, particularly in Altona North and Brooklyn.

“The area’s proximity to the CBD is particularly attractive for investors.”

“This area is going to be very strong for a long time,” Mr Gualano said. “It’s in very high demand.

Other factors attracting families and investors are lifestyle factors, such as the beaches and the growing cafe culture.

“As soon as something is listed, you’ll have 20 inquiries in your inbox by the next day.”

Maribyrnong & Hobsons Bay HOUSEHOLD INCOME

Barlow McEwan Tribe sales agent Simon Gualano said spring is the time of year properties usually look their best.

Less than $40,000 per year (less than $770 per week) 40,000$-79,999 per year ($770-$1,538 per week) $80,000-$119,999 per year ($1,539-$2,308 per week) $120,000 or more per year ($2,309 or more per week)

(000) 18 22 17 25

Suburb Watch % 21.9 27.0 20.5 30.6

SUBURB

MEDIAN PRICE

YoY CHANGE

Altona

$725,000

13.3%

Footscray

$687,500

14.6%

Maribyrnong

$805,500

7.4%

(000)

Williamstown

$1,117,500

14.6%

Mortgagee

28.8

Yarraville

$825,500

10.1%

Home owner

24.8

Tenant

33.3

(000)

Less than 5 years

33.5

5 or more years

66.5

(000)

Full Time

45.7

Part Time

12.1

Not working

42.2

Source: APM Pricefinder

STARWEEKLY \ SPRING PROPERTY GUIDE 29

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Brimbank &Northwest 36 STARWEEKLY \ SPRING PROPERTY GUIDE STAR

SPRING property guide

Melbourne’s west rides wave of rising property values By Ben Cameron with Laura Michell Median house prices in Hillside have jumped almost 20 per cent in the past three months – making it one of Melbourne’s top growth suburbs this year – but the average sales price is where the real truth about the suburb lies, says Barry Plant’s Jim Hatzimoisis. The median house price in Hillside rose from $505,000 in March to $600,000 (an 18.8 per cent increase) in June, new Real Estate Institute of Victoria figures reveal. But Mr Hatzimoisis said it is easy to be seduced by median house price jumps. “It’s easy to say ‘wow’, and ‘look at that jump’ in isolation,” he says. “It really depends on the middle price sales. It can really throw out the median price. “The average sales price would be a better indicator,” he says of Hillside’s rising residential real estate values. Mr Hatzimoisis says his office recorded an average sale price of $534,000 in July for Hillside property – in February it was $506,000. “That’s excluding a couple of one million dollar-plus sales that weren’t added into the equation.” While a REIV spokeswoman said the institute didn’t use average prices because it believed “the median is a more accurate reflection of property prices in the area”, there was no debate about the appeal of Hillside for buyers. “It has good childcare options, plenty of sporting clubs, it’s getting a real community feel,” Mr Hatzimoisis says. He said a general shortage in housing choice and availability was driving demand “across the zone” in Hillside and beyond. “Increased competition leads to higher prices,” he says. “Supply has been limited.” YPA Taylors Lakes director Nancy Crupi was not surprised by the steep climb in Hillside prices, saying the suburb has a lot to offer.

“It’s newish and is close to shopping centres, train stations and good schools,” she says. “It offers value for money and newer homes.” Ms Crupi says Hillside is popular with first-home buyers, as well as buyers looking to upgrade, as it offers diverse housing options. She believes the suburb is particularly attractive to younger buyers, who have grown up in the west and are looking to move to a newer area. According to REIV figures, St Albans is also recording significant growth. Median house prices there rose 14.6 per cent from $462,000 in March to $529,500 in June. Both Hillside and St Albans recorded price increases well above the Brimbank average of 5.9 per cent. YPA St Albans director Gioan Pham said the popularity of St Albans was due to a “spillover” from people looking to buy into Sunshine. This year has been a record-breaker for house prices in the 3020 postcode, with Sunshine and Albion breaking the million-dollar mark for the first time. “[The increase in St Albans] has a lot to do with Sunshine, the market being so high at the moment,” Mr Pham says. He says Sunshine buyers and investors were being forced out to St Albans where prices were “a lot more affordable”. He said the average sales price for Sunshine at the moment is about $700,000 compared with $500,000 - $520,000 in St Albans. “It’s a spillover, plus infrastructure is improving with the new stations at Ginifer and St Albans.” Across Melbourne, the median house price rose 3.6 per cent to $725,000, according to the REIV.

Brimbank & Northwest HOUSEHOLD INCOME

HOME OWNERSHIP

TIME AT CURRENT ADDRESS

WORK STATUS

Less than $40,000 per year (less than $770 per week) $40,000-$79,999 per year ($770-$1,538 per week) $80,000-$119,999 per year ($1,539-$2,308 per week) $120,000 or more per year ($2,309 or more per week) (000)

Mortgagee

31.0

Home owner

29.5

Tenant

26.7

(000)

Less than 5 years

30.4

5 or more years

143

69.6

(000)

Full Time

38.3

Part Time

20.1

Not working

41.6

Suburb Watch (000) 31 35 26 22

% 27.1 30.7 22.8 19.4

SUBURB

MEDIAN PRICE

YoY CHANGE

Keilor

$730,000

6.6%

St Albans

$449,000

16.0%

Sunshine

$607,500

25.3%

Taylors Lakes

$588,500

13.5%

Source: APM Pricefinder

STARWEEKLY \ SPRING PROPERTY GUIDE 37

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Melton &Moorabool 44 STARWEEKLY \ SPRING PROPERTY GUIDE

SPRING property guide

Melton reaps the benefits of investment, lifestyle and location See

WILLIAMSTOWN

By Sumeyya Ilanbey

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Buyers can expect “big bangs for their bucks” in Melton with some suburbs in the municipality among the most affordable in the state. 33 units sold last year

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While Melton’s eastern corridor is experiencing record growth – house prices in Hillside jumped almost 20 per cent to $600,000 in the June quarter – there’s plenty of bargain buys in the See See pro pro township. pe pe .com.au

WILLIAMSTOWN

W I L LrtIy A list M S T O W N

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isti ing West in the June quarter ngwas $331,000 – less than half the The median house price in Melton s1 s1 st* st* Melbourne-wide median of $725,000, according to recent Real Estate Institute of Victoria figures. * Some of Melbourne’s leading Real Estate Agents list their properties 1st on reviewproperty.com.au

W I Lreal L I A Mestate S T O W agents N W YMelton N D H A Mhouse VA L E prices to experience significant growth in the wake of But expect increased government and developer investment. * Some of Melbourne’s leading Real Estate Agents list their properties 1st on reviewproperty.com.au

Sweeney Melton director Garry Gale said Melton properties had been sold at “much faster rates” in the past 12 months compared with previous years, and some sale prices had exceeded vendor expectations. “Based on current market conditions – with a lack of stock, interest rates at an all-time low 1 strip of waterfront housesshould 6 miles from the CBD and banks’ lending criteria relaxed – the market still have some growth left in it,” Mr Gale said.

0% chance of bad fish and chips 1 strip of waterfront houses 6 miles from the CBD 0% chance of bad fish and chips 33 units sold last year

“This is exciting news for vendors who have been contemplating selling this year.” Mr Gale said Melton boasted a.com.au “great lifestyle” for everyone with its “exceptional” community .com.au facilities, country landscape, iconic waterways and proximity to Melbourne, Ballarat, Geelong and Melbourne Airport.

“The location of Melton, the availability of land here and its price tag ensure there are always buyers for this community, whether it be for owner-occupied or investment,” he said. “There are plenty of schools to choose from, exceptional sporting facilities and Woodgrove Shopping Centre … the community has everything it needs. “It is the fastest growing suburb of Melbourne and will continue to be for all these reasons.” Raine and Horne Melton director Kieran Carson said demand in the area had soared in the past six months following local and state government investment. “Affordable suburbs don’t last that long,” Mr Carson said. “We’re expecting a significant price adjustment just because we haven’t had that price adjustment as much as other suburbs.” Melton was a big winner in the recent state budget, with the government committing $518 million to duplicate the Ballarat railway line from Melton to Deer Park and upgrading Rockbank station, $2.4 million for an additional 270 carpark spaces at Melton train station, $12 million for a new secondary school in Taylors Hill West, and $50 million for an outer growth suburbs fund. Meanwhile, Melton council announced a record $50.7 million in funding for capital works in its recent budget, including $20 million to upgrade roads, $11 million on community facilities and $5 million on bridge upgrades. REIV chief executive Enzo Raimondo said significant investment in outer suburbs would continue to drive house price growth.

* Some of Melbourne’s leading Real Estate Agents list their properties 1st on reviewproperty.com.au

Melton

ome of Melbourne’s leading Real Estate Agents list their properties 1st on reviewproperty.com.au

HOUSEHOLD INCOME

HOME OWNERSHIP

TIME AT CURRENT ADDRESS

WORK STATUS

Suburb Watch

.com.au

(000) 12 13 13 8

% 26.0 28.5 28.2 17.3

SUBURB

MEDIAN PRICE

YoY CHANGE

Bacchus Marsh

$425,000

8.8%

Caroline Springs

$500,000

9.5%

Kurunjang

$309,500

10.1%

(000)

Melton

$270,000

3.8%

Mortgagee

43.0

Melton West

$338,500

8.1%

Home owner

25.8

Tenant

21.4

(000)

Less than 5 years

30.9

5 or more years

69.1

(000)

Full Time

41.6

Part Time

21.4

Not working

37.1

Source: APM Pricefinder

STARWEEKLY \ SPRING PROPERTY GUIDE 45

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Sunbury &Macedon Ranges 52 STARWEEKLY \ SPRING PROPERTY GUIDE

SPRING property guide

Macedon Ranges’ allure spurred by city proximity and beauty By Esther Lauaki Buyers looking to break into the Sunbury and Macedon Ranges property market can expect plenty of competition this spring with low interest rates, relatively cheap prices and a spectacular natural environment fuelling interest. Agents say Melbourne’s soaring prices are having a flow-on effect, with many people pleasantly surprised to discover how far their property dollar can go just past the airport. Lifestyle has also been a major factor in drawing people from suburbs such as Ascot Vale, Moonee Ponds and Essendon and even growth areas such as Craigieburn. John Keating, director of Keatings Real Estate in Woodend, says the market is buoyant. “The area is increasingly popular,” he says. “With very tight town planning rules, properties in the Macedon Ranges and surrounds are in demand. “We’ve seen a shortfall of listings across the board – as many other agencies in Victoria have been experiencing – but there’s still plenty of activity. We expect that to balance out at some stage in the near future.” Mr Keating says Woodend remains very attractive to buyers, with the average price for 800-squaremetre properties between $450,000 and $600,000. “The market is being driven by low interest rates so it is a buyers market at the moment,” he says. “The under-$750,000 market is very buoyant while the $750,000 to $1.5 million market is buoyant but price sensitive.”

Mr Keating says demand for properties in the $1.5 million and above bracket has softened in the past few years as a result of flow-on effects from state government fiscal changes. Joan Gladman, director of Woodend’s Joan Gladman Real Estate, says it’s mostly the Macedon Ranges’ attractiveness that draws buyers. ‘‘Also, with Macedon Ranges council capping growth in each of the townships, it increases the drive for people to get in,’’ she says. Ms Gladman says roughly 60 per cent of recent purchases involved people from the city. She says Woodend offers tremendous value. ‘‘Being able to walk to the train station and to the shops for $220,000 is attractive, especially in a town like Woodend,” she says. ‘‘You can buy blocks for that price in Gisborne, but you’re much further out.’’ Latest data from the Real Estate Institute of Victoria reveals the median house price in Sunbury grew 11.1 per cent in the June quarter, from $371,250 to $412,500. Chief executive Geoff White says the latest quarterly figures indicate real strength in the Victorian market. “While fewer sellers are putting their homes on the market, prices are still extremely solid,” Mr White says.

Sunbury & Macedon Ranges HOUSEHOLD INCOME

HOME OWNERSHIP

TIME AT CURRENT ADDRESS

WORK STATUS

(000) 8 13 10 8

Suburb Watch % 19.9 33.6 25.3 21.2

SUBURB

MEDIAN PRICE

YoY CHANGE

Gisborne

$579,000

10.3%

Kyneton

$470,000

13.3%

Mount Macedon

$840,000

17.5%

(000)

Sunbury

$390,000

6.8%

Mortgagee

39.7

Woodend

$575,000

0.9%

Home owner

32.8

Tenant

17.7

(000)

Less than 5 years

30.9

5 or more years

69.1

(000)

Full Time

31.3

Part Time

19.3

Not working

49.4

Source: APM Pricefinder

STARWEEKLY \ SPRING PROPERTY GUIDE 53

Kennedy & Hunt:

Agent Contacts:

33 Brantome St, Gisborne,Victoria, 3437

Jason Kennedy: Wilma Grumont: Dominic Romeo:

Ph: (03) 5428 2544 Fax: (03) 5428 2816

Circa 1972

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0417 383 235 0409 138 472 0407 435 589

35 72 89

Kennedy & Hunt:

Agent Contacts:

33 Brantome St, Gisborne, Victoria, 3437

Jason Kennedy: 0417 383 235 Kelly McCarthy: 0429 340 507 Andrew Luxmoore: 0423 488 796

Ph: (03) 5428 2544 Fax: (03) 5428 2816

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WOODEND 52 Lavender Farm Road

Hollyberry

Premium equestrian facilities feature on this most picturesque 4.901ha (12 acres) in the tightly held Lavender Farm Road.

WOODEND

The professionally renovated homestead comprises 52 Lavender Farm Road 9 main rooms and a huge integrated office. 2 bathrooms, 2 separate W.C’s, huge pantry, huge laundry and

S6O

O S612

Om S612

Hollyberry exceptional storage.

Premium equestrian facilities feature on this most picturesque 4.901ha (12 acres) There is a 20m x 60m arena yard. Large shed inround the tightly held Lavender Farm Road. with 3 big stables and tack room with hot water wash

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storage. PRICE $1,100,000exceptional Offers Invited

There is a 20m x 60m arena round yard. Large shed with 3 big stables and tack room with hot water wash bay and more...

PRICE $1,100,000 Offers Invited

MOUNT MACEDO

1873

1871

N ROAD

WOODEND

MOUNT MACEDO

1873

1871

N RO1871-1873 Mt Macedon Road AD

WOODEND

1871-1873 Hollyberry - Private exclusive offering Mt Macedon Road of just four large allotments.

Offering all town amenities,Hollyberry close to the -main township Private exclusive offering of just four large allotments. of Woodend and less than 2km to the VLine Station, it is also on the bus route servicing College,close to the main township Offering Braemar all town amenities, Sacred Heart and Kyneton Secondary of Woodend College. and less than 2km to the VLine Station,

ry Hollyberry

Lot L3D SO 1161m²

it is also on the bus route servicing Braemar College,

Lot 4 2187m²

Lot 5 1406m²

Lot 6 2806m²

This is a rare opportunity toSacred buy a Heart largerand country Kyneton Secondary College. home site just 45 minutes from the heart of Melbourne.

This is a rare opportunity to buy a larger country home site just 45 minutes from the heart of Melbourne.

LOT 4 - 2187m² - $425,000 4 - 2187m² - $425,000 LOT 5 - 1406m² - LOT $360,000 5 - 1406m² - $360,000 LOT 6 - 2806m² - LOT $450,000 LOT 6 - 2806m² - $450,000

Tem

NOONAN

GROVE 3mL ²D S99O

716m²

LD 996m SO ²

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833m25 ²

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31 32 33 766m² 735m² 671 13 m² 759m²

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34 12

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LD Om² S605

LD Om² S601

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844m²

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766m²

759m²

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The land is sunny and undulating, with views over the surrounding countryside.

Woodend township meets the wide open countryside

woodland has been conserved in a reserve of over one

4669m²

S628Om²LD

637m²

Land sizes 547m² - 844m².

in this beautiful residential development. Existing eucalypt

LO9 547Nm² G

PLACE

O5mL²D S66

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1LD SO 607m²

637m² 35

SO LD SO LD SO LD SO LD SO LD 17LD SO 601m²

ONT

580m²

PRICES FROM $230,000 - $285,000

acre, setting the scene for a carefully planned community in which the environment is valued and respected. The land is sunny and undulating, with views over the surrounding countryside.

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PRICES FROM $230,000 - $285,000

WOODEND Templeton Mews on Templeton Street

WOODEND Rare offering of boutique in Templeton Mews on development Templeton Street absolute prime central township location opposite the Brooke Street Medical Clinic.

LOT 6

R NOT FO R FOR T FO SALE OT NO N

LOT 5

LE SALE SA

TTeem mppllee ttoonn SS ttrreeeett

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NOT FO SALE

Temp l

18 D 601L SO m²

PLACE

14 833 m²

Woodend township meets the wide open countryside in this beautiful residential development. Existing eucalyp woodland has been conserved in a reserve of over one acre,have setting scene carefully planned community Titles now the issued and for onlya13 lots are unsold, in which environment is valuedrail. and respected. located justthe 500m from Vline Commuter

Noonan Grove

OO O5mLN²D S60 NA4N LO D 62O S 8m²LGRO 37 D NG O VE L

681m²

BEAUM

WOODEND

636m²

26 Lm²D 996 SO

LD SO 702m² 18 20D L 601 SO m² D L Om² S612 17LD SO 16 601m² LD29 15 30 Om² S28601 19 624m² 604 m²D 833 D m² OL L Om² 627S S612 m² SPROU LE PLA CE

671m²

Titles have now issued and only 13 lots are unsold, located just 500m from Vline Commuter rail. Land sizes 547m² - 844m².

602m²

833m²

GRO VE

1LD SO 607m²

36 D L O S541 m²

22LD O S832 m²

627m²

716m²

624m²

GROVE 24 Om²LD S993 30

27 LOD SNO 70 ² AN N O2m

19 LD Om² S612

SPROU

Om²LD S612

LE PLA CE

623m²

LD S60O 2m² 37

www.joangladman.com.au

Noonan Grove

SOLD 690m²

Ph. 5427 4307 or 0427 272 872

S83O2mL² D 22

SOLD

WOODEND

Suite 3, 39 Anslow St, Woodend

empleton Mews Templeton Mews

LOT 6

* * * R FOR T FO OT NO N LE SALE SA

LOT LOT 45 LOT 4

LOT 3

SOLD LOT 2

D LOT 2 LD OL SO S

SOLD LLOT D 1

OLD LOT 1 SO S

D LOT 8 SOL DLLLOT D LOT8 8 SOSSLO O D

Rare offering of boutique development in absolute primesoon central location Driveways to township be formed and all services opposite the Brooke Street Medical made available to each block.Clinic. Driveways soon to be formed and all services made available to each block.

LOT 3 - 504m² - $345,000 LOT34- 504m² - 504m² - $345,000 LOT - $345,000 LOT 4 - 504m² - $345,000

Only Two LotsefLt eft On ly Two Lots L

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Northern 64 STARWEEKLY \ SPRING PROPERTY GUIDE STAR

SPRING property guide

North proves the powerhouse behind city growth See

WILLIAMSTOWN

pro

By Laura Michell

rty

listi

st*

KEILOR

The real estate market in Melbourne’s outer north is “booming”, with real estate agents reporting huge turnouts at auctions. 33 units sold last year

0% chance of bad fish and chips

1 strip of waterfront houses

6 miles from the CBD

House prices have gone up in Whittlesea and Hume as buyers increasingly turn their attention to Melbourne’s leafy outer suburbs. See

See

pro Harcourts MillproPark/South Morang director Taylor says it is not uncommon for an auction to pDaniel pe ert y li W I L 100 LrtIy A S T 150 O W people, N IAMSTOW N list M stin attract between a big difference from the 20-30 people of yore. inand g g .com.au

* Some of Melbourne’s leading Real Estate Agents list their properties 1st on reviewproperty.com.au

st* agents are now seeing five or six parties vying t* He says auctions used to attract two or three bidders, but I A M S T O Wfor N a property. W Y N D H A M VA L E s

Mr Taylor says the market in Whittlesea is “flying along”.

“It’s booming, especially at Mill Park and South Morang,” he says. * Some of Melbourne’s leading Real Estate Agents list their properties 1st on reviewproperty.com.au

“People are getting pushed out a bit from inner suburbs, such as Bundoora and Reservoir, pushing people towards Mill Park. From there, they are getting pushed towards South Morang and Mernda.” Mr Taylor says the price hikes in Whittlesea’s outer suburbs have been “astronomical”.

d chips 1 strip of waterfront houses 6 miles from the CBD 0% chance of bad fish and chips 33 units sold last year

of waterfront houses 6 miles from the CBD Harcourts recently sold a1 stripthree-bedroom house on The Terrace, South Morang, for $668,000 – a record for a three-bedroom home here.

In Mill Park, meanwhile, a four-bedroom home on Peugeot Pursuit sold for $745,000, from a reserve of just less than $600,000. .com.au

.com.au The Real Estate Institute of Victoria puts the suburb’s median house price at $530,000, and listed South Morang among its top growth suburbs, after house prices rose nine per cent between March and June this year. The median house price is now $503,000, while slightly further out from the city at

* Some of Melbourne’s leading Real Estate Agents list their properties 1st on reviewproperty.com.au

Northern

HOME OWNERSHIP

TIME AT CURRENT ADDRESS

WORK STATUS

The REIV also included the Hume suburbs of Roxburgh Park and Greenvale on its list of top growth suburbs. Prices in Roxburgh Park jumped by close to 10 per cent between March and June, taking the median price to $425,000. In Greenvale, the median price increased by 8.3 per cent to $650,000. Ray White Craigieburn director Andrew Bellino says Roxburgh Park and Greenvale have grown in popularity in the past 12 months. He says Greenvale is popular with families looking to upgrade, while Roxburgh Park is attracting interest from interstate investors and first-home buyers. Similarly, Barry Plant Gladstone Park senior sales consultant Phillip Mercieca has noticed a surge in activity from buyers looking at properties in Tullamarine, Westmeadows and Gladstone Park this year. Mr Mercieca has worked in real estate in the area for 13 years and says this is the best he has ever seen the market. He says it is a great time to be a seller. “Interest rates are playing a role … but there is also a lot of things going for this area, like its very close proximity to the inner city,” he says. “We have seen growth in prices, but it is still very affordable. If you go five minutes in to Essendon or Niddrie, you are paying five times the amount.” Mr Mercieca says Gladstone Park, Tullamarine and Westmeadows are proving popular among first-home buyers looking for affordable properties close to the city.

Suburb Watch

.com.au

Agents list their properties 1st on reviewproperty.com.au

HOUSEHOLD INCOME

Mernda the median price is $430,000.

(000) 45 57 28 35

% 27.2 34.7 16.8 21.3

SUBURB

MEDIAN PRICE

YoY CHANGE

Bundoora

$626,000

11.8%

Craigieburn

$420,000

7.1%

Epping

$437,500

12.2%

Roxburgh Park

$433,000

5.6%

(000)

Thomastown

$450,000

8.4%

Mortgagee

33.3

Home owner

21.8

Glenroy

$510,500

5.3%

Tenant

32.7

(000)

Less than 5 years

109

38.5

5 or more years

174

61.5

(000)

Full Time

114

40.4

Part Time

15.7

Not working

124

43.9

Source: APM Pricefinder

STARWEEKLY \ SPRING PROPERTY GUIDE 65

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