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The PhilipWebb Report 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

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.

same as 2011?

Metro Melbourne 10 year Median Prices $700,000

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 fundamentals of our local property market, unlike the US and Europe, tell us that what we are experiencing is not a

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.

$600,000

Houses Unit/Apts $500,000

$400,000

$300,000

Source: REIV $200,000

property bubble, but a short-term 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 sign in terms of property values. In addition, the Reserve Bank’s recent series of interest rate cuts, combined with last July’s 20%

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

Property Median prices suburb by suburb...

Box Hill Box Hill North Box Hill South Bulleen Doncaster Doncaster East Donvale Mitcham Nunawading Templestowe Templestowe Lower Warrandyte

Sep-10

940,000 700,000 855,000 710,000 790,000 750,000 675,000 630,000 650,000 845,000 731,000 720,000

facebook.com/philipwebbre

Dec-10

868,800 698,500 757,500 721,750 795,000 730,500 802,500 615,500 642,500 856,250 756,000 915,000

Source: REIV Median Price House Data

philipwebb.com.au

The Cities of Manningham and Whitehorse have some of the best infrastructure in Melbourne. 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 municipalities are widely regarded and 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.

Mar-11

830,000 715,000 781,500 662,500 780,000 740,500 800,000 580,000 586,000 782,500 745,000 1,151,000

philipwebbrealestateblog.com.au facebook.com/philipwebbre

Jun-11

960,000 700,000 715,500 730,000 793,000 703,000 840,000 615,000 610,000 906,750 735,500 775,800

Sep-11

N/A $658,750 717,500 745,500 750,000 727,500 748,500 593,500 569,000 845,000 700,000 678,750

philipwebbrealestateblog.com.au


State Government puts Manningham 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-MAN


The PhilipWebb Report - Manningham