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The PhilipWebb Report

Doncaster | Doncaster East In this issue

Homes for life

Doncaster 03 9842 1477 989 Doncaster Road Doncaster East VIC 3109

Ringwood 03 8870 2888 Mitcham 03 9874 3355 139 Maroondah Highway 483 Whitehorse Road Ringwood VIC 3134 Mitcham VIC 3132

Property Forecast 2012

Latest Median prices

A train line for Doncaster?

philipwebb.com.au


State of the Market

Will 2012 be the

same as 2011? Last year was challenging for most of us. We saw a significant increase in the general price of living, a struggling retail sector, fear of the US and European economic crises spreading to our shores; and, yes, we saw our local property market soften. The Real Estate Institute of Victoria recorded a 1.4% increase from the June quarter 2010 to the September quarter 2011. A modest figure, indeed, if one is to merely consider the short-term.

The media has a tendency to overlook the bigger picture when it comes to property forecasts. One needs only to look at the metropolitan median price increase over the past 10 years to see the extraordinary upward price trend we have enjoyed. Despite this, we are constantly warned about the “bubble”, the bursting of which has been a long-awaited catastrophe that I’ve been hearing about on the grapevine for years. Instead, let’s look at the facts: the

Doncaster

Median Price

House Unit

Lower Quartile

$652,000 $510,000

philipwebb.com.au

Median

$750,000 $546,000

fundamentals of our local property market, unlike the US and Europe, tell us that what we are experiencing is not a property bubble, but a shortterm pause in what is otherwise a stable market. A quick comparative analysis clearly demonstrates this:

No of dwelling units commenced (Vic)

Dec Q 2000 – Dec Q 2005 – Dec Q 2005 Dec Q 2010

225,859

221,535

Net Migration (Vic)

328,844

480,473

Change in median house price

38%

62%

Source: REIV Property Data

This shows that migration to Victoria outnumbers the supply of new housing. That is always a healthy

Upper Quartile

$830,000 $580,000

sign in terms of property values. In addition, the Reserve Bank’s recent series of interest rate cuts, combined with last July’s 20% cut in stamp duty for properties valued under $600,000, has injected a boost of confidence, which will and must allow more first homebuyers into the market. This will stimulate the property market with a trickle-up effect.

Doncaster and Doncaster East have proved to be among the most resilient suburbs. Both are highly regarded by homebuyers across the board. I am also very excited about the feasibility study that has been approved to research the possibility of extending the rail network to Doncaster. These two prized suburbs will continue to grow well into the future. With all these factors in mind, I am looking forward to a stronger real estate market in 2012. If you would like further advice on the best time to sell in 2012, please contact our office for your free market appraisal and property report. Best Regards,

Philip Webb, Director

Doncaster East Median Price

House Unit

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Lower Quartile

$657,750 $465,000

Median

$727,500 $495,000

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Upper Quartile

$825,000 $558,750

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State Government puts Doncaster on track Manningham Council chalked up a win for residents last year, when it welcomed a State Government announcement that will see a $6.5 million study conducted into the feasibility of extending rail services through the Doncaster Corridor. Over a 12 month period, the Department of Transport will investigate the social, economic, environmental and technical implications of such an extension.

Manningham is the only municipality in Melbourne without access to trams or trains, meaning its 118,5001 plus residents are entirely reliant upon private vehicles and buses for travel. This causes congestion on major roads throughout the district that extends through to the Eastern Freeway and Hoddle Street. Despite the implementation of the Doncaster Area Rapid Transport (DART) system, which saw an increase in bus numbers and frequency, access to public transport in the area is still insufficient to meet the needs of a growing population.

A major concern for the Manningham Community since the 1970s, several proposals for both light and heavy rail systems have been presented to governments over past decades, without success. Continued development in the area has broadened the effects of the issue, as more and more local residents look to the already congested Belgrave/ Lilydale train line to meet their transport needs. While a date is yet to be set for the commencement of the study, Manningham Mayor, Cr. Geoff Gough sees the commitment of funds as a step forward. “The Community demand for public transport is increasing and it continues to be the number one issue

raised in Council’s community satisfaction surveys, so it is wonderful news to see that the State Government has lifted the priority of the Doncaster rail link.” 1

Population 118,544 recorded by Manningham Council Dec, 2010

Start the year with a fresh opinion of your property’s market worth! Call our office on 9842 1477 or scan the QR Code on your smart phone to register for your complimentary market appraisal.

We bought this property through PhilipWebb four years ago and the service was great. So when it was time to sell, we went with our instincts and called on PhilipWebb to manage it. So glad we did. Senior Sales Consultant Tony Tuccitto was so easy to deal with and his communication was impeccable. He was on the phone to me during and after business hours. We are very happy with the result and would highly recommend them to others.

Joe & Sabrina, 2/95 Bellevue Avenue, Doncaster East 989 Doncaster Road, Doncaster East

139 Maroondah Highway, Ringwood

483 Whitehorse Road, Mitcham


Property Management with Sophie Lyon The rental market is performing very well… at least, that’s what we’re seeing at PhilipWebb! When we compare our vacancy rates against those issued by the Real Estate Institute of Victoria, our company are well ahead of the market indicators. While the October vacancy rate for Melbourne was 3.9%, our average measured 2.5%.

Well priced, well presented properties are always popular and we’re now in our busiest time of year. This is when prospective tenants are seeking to establish their accommodation for the year ahead. We also receive an influx from larger numbers of students during this time. Now is an opportune time to consider leasing your investment property (or changing your property management service) and a great time to invest if you are looking to expand your property portfolio.

Call us on 9874 3355 for a free rental assessment of your investment property.

Sophie Lyon

Business Partner & General Manager of Property Management Division

3 quick tips to get your property moving n

n

n

VACANCY RATES

MELBOURNE Inner (0-4km) Inner (4-10km) Inner Total Middle 5.0 Outer MELBOURNE TOTAL

Make it gleam! Professional cleaning, a little re-painting or a good tidy of the garden can make all the difference. Professional photography can make the most of every aspect of your property at a reasonable cost.

Let as much natural light in as possible. Old heavy drapes or curtains can date a property quickly and make rooms seem dark or small. Oct 2011

3.2 2.7 3.0 3.0 2.8

3.9

Sept 2011

2.4 2.6 2.5 2.4 0.8 2.4

Aug 2011

2.2 1.5 1.7 2.6 2.9 2.3

Jul 2011

1.8 2.4 2.2 2.1 3.2 2.5

Jun 2011

2.5 2.4 2.4 2.0 2.1 2.2

May 2011

1.6 1.5 1.6 2.0 1.0 1.7

Apr 2011

1.6 1.3 1.4 1.8 1.5 1.7

A touch on the screen…

your foot in the door. View our latest properties. Send to a friend. Save inspection and auction times to your calendar. Contact the agent. All on your iPhone.

Mar 2011

1.7 1.6 1.6 1.6 1.9 1.7

Feb 2011

2.2 1.5 1.7 2.3 1.2 1.6

If this property is exclusively listed with another agent, please disregard this communication.

Homes for life

Doncaster 03 9842 1477 989 Doncaster Road Doncaster East VIC 3109

Ringwood 03 8870 2888 Mitcham 03 9874 3355 139 Maroondah Highway 483 Whitehorse Road Ringwood VIC 3134 Mitcham VIC 3132

Jan 2011

2.4 1.5 1.9 3.1 1.4

2.0

Dec 2010

2.4 1.6 1.8 1.9 1.1 2.3

Nov 2010

1.3 1.9 1.7 1.8 1.1 1.7

Oct 2010

0.6 1.2 1.0

0.9 1.3

SOURCE: REIV

5597-D

The PhilipWebb Report - Doncaster  

"Will 2012 be the same as 2011? Last year was challenging for most of us. We saw a significant increase in the general price of living, a st...

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