Insights Report September 2020

SEPTEMBER

Insights

reliancere.com.au

TABLE OF

Contents

2 4

WELCOME A message from the CEO Sunil Kumar

ARTICLES Featured articles from the month of September

9

SALES SUMMARY

25

RENTALS ACTIVITY

36

SUMMARY

Featured Sold and On Market listings

Featured Leased and On Market listings

A quick summary of the month and stage 4 lockdown

SUNIL KUMAR

CEO/Founder During Stage 4 Lockdown, we have continued to adapt to the changing times. The Reliance team have maintained excellent work remotely, but with the easing of restrictions at the end of September, there has been an exciting development with the reintroduction of onsite inspections.

This challenging time has been the real test for the core strength of our well-trained team who have worked tirelessly to continue to serve our clients. We have stayed focused and given our very best.

With the reintroduction of onsite inspections there has been a slight increase in activity from serious buyers over the last week. The 6.8% rise in demand in Victoria was only the second time we have seen an increase in the past 12 weeks and the largest increase in 19 months.

With Melbourne real estate inspections permitted again, we are hopefully about to see an increase in demand across the state, which should drive demand nationally over the coming weeks.

Victoria’s rental eviction moratorium was set to expire on 31 December but has now been extended to 2021. With the state experiencing a major economic shutdown, we are dealing with 19,450 active COVID-19 cases, and residential and commercial tenants will now be protected until 28 March 2021.

Landlords will also be able to apply for cash payments, as announced by the Victorian Government.

Despite all this, rental demand in Victoria has remained quite strong, having increased for six of the past eight weeks.

Our team has done an incredible job during this time, navigating a virtual world to achieve a staggering 9372 virtual tours, guiding prospective buyers and tenants through the sometimes daunting technology and uncertainty of a new way to buy and sell, proving that buyers are still committed to their purchase with an incredible 79 properties sold and 110 new listings.

We are filled with hope and determination to work together to come out of the lockdown period resilient and committed to our clients as ever. As we look forward to moving out of restrictions, it is still important to check up on those you around you and make sure they are safe and well.

Make everyday count.

Stay Safe,

Sunil Kumar CEO/Founder

FEATURED IN SEPTEMBER

Articles

FEATURED IN SEPTEMBER

FUNDINGFORCE.COM.AU

Articles

What to know when refinancing your home loan you considering refinancing but unsure on who to speak to or what is involved when it comes to refinancing your home loan? Here at Funding force we always want to give our clients the best advice and share our knowledge with you.

Refinancing your home loans reaps many benefits and there are several reasons that you are considering refinancing.

We will discuss the most common reasons we find that people want to refinance and what to consider when refinancing.

What does it mean to refinance?

Refinancing is quite a similar process to when you first applied for the original home loan. A refinance loan is a loan that pays out your existing home loan to create your new home loan with your new lender. It is a quicker process and less complex compared to when you initially first got your home loan.

Why Refinance?

Having a clear understanding of the purpose of you wanting to refinance your home will make the process much easier but these are the most common reasons we find as to why people want to refinance.

• • •

Using the equity in your home to complete home renovations Wanting a better deal on your home loan e.g. better interest rate, lower fees, flexible repayments, more loan features Consolidate debt

What to consider?

As always when looking at doing something financially there are always things that you should consider when doing so. Although there are so many benefits involved in refinancing, we have listed the most common factors you should consider when doing so.

• • •

Early exit fees on current loan (if applicable) LMI (Lenders Mortgage Insurance) you may be asked to pay that again if you’re planning on borrowing more than 80% of the current market value Compare the costs of staying with your current loan and what it would be to change.

To find out more about how refinancing can benefit you and to get the best deal contact us on 03-8372 2018 Under the new laws, your tenant will not be able to stop paying the rent. But they will be entitled to.

Apply to leave the tenancy if they want to for financial hardship, without paying fees for breaking the lease; or Stay and negotiate a rent reduction with you.

INSIGHTS REPORT SEPTEMBER

PAGE 5

FEATURED IN SEPTEMBER

FUNDINGFORCE.COM.AU

Articles

What you need to know about Buy Now, Pay Later What is Buy Now Pay Later?

As the years have progressed so has technology and the way we buy. The buy now pay later option is essentially a layby that you’re able to take on the day without having to wait for the product. The buy now pay later option has become an incredibly popular option around Australia as it’s an interest free option available from many large retailers which makes shopping more attractive.

What companies use the buy now pay later?

There are many companies who now offer the buy now pay later option as over the years this option has been more appealing to the customer rather than pay large amounts upfront. Some of these options don’t require a credit check either but that doesn’t mean that it won’t affect you when wanting to obtain finance.

• • • • •

Afterpay Openpay Zip Pay Laybuy Latitude Pay

What should you consider?

These options are appealing to many Australians when using one of the buy now pay later options but there are also a few things that you should consider first. As mentioned earlier some of the companies we mentioned don’t do a credit check but they all are essentially a line of credit which can still effect you and here are the reasons why: • • • •

Fees – Whilst some companies are interest free, there are some that also charge you monthly fees / admin fees / late fees Overspend – It may sound obviously but it’s easy to do. You may think I just have $20 here and $30 dollars there but they can quickly add up over time and you have overspent.

Loan Application – Some companies don’t require a credit check but when wanting to obtain finance lenders now take into concideration if the applicant uses the buy now pay later.

Late Repayments – A mistake some people make when using the buy now pay later that they don’t think it can affect there credit score. Unfortunately using this as a way of spending definitely can because if you over spend and can no longer afford repayments it can be listed on your credit file.

INSIGHTS REPORT SEPTEMBER PAGE 6

FEATURED IN SEPTEMBER

RELIANCERE.COM.AU

Articles Cleaning Walking into a home that is clean and organised will speak volumes to potential buyers.

Remembering that this is the first time a potential buyer is walking through your home and are basing their opinion on the first impression.

Minimalize

Staging your home ready to sell You have made the decision to sell your home but are wondering if there are any tips and tricks that could help make your home ready to be put on the market. What we have done for you is created a list of things that can help improve the sale of your home.

Furniture Placement of furniture in a home that is on the market is everything. You want to create that the room feels more spacious than small and cramped. That doesn’t mean that you should go out and buy new furniture but rearranging your furniture around to make that area seem larger really does the trick.

Sounds easy but it can be quite challenging when you have a lot around your home.

Basically what you want to do is go back to basics and providing a blank canvas in a sense to potential buyers so they can see the value of the home and not be distracted by what is in it.

Outdoors The exterior of the property is another important factor when selling your home. It can be as simple as pulling out those weeds, mowing the lawn, or even adding some new greenery. You want the exterior of the home to be as beautiful and appealing as the inside of your home.

Making every room functional You may find that not all rooms in the house are used or have much of a purpose but if you create that purpose it can help the potential buyer create that vision. A spare bedroom that is used to hang your washing to dry in the winter can be transformed into a study or could be set up as a guest bedroom.

INSIGHTS REPORT SEPTEMBER

PAGE 7

FEATURED IN SEPTEMBER

RELIANCERE.COM.AU

Articles

Update: Private Inspections allowed We are excited to announce that as of the 28th of September 2020, the Victoria Government have lift the restrictions on private inspections. This means if you are looking to buy or lease a property, you can arrange an inspection with the relevant agent.

This news is welcomed by all in the industry after an extended period of stage four restrictions which halted all face-to-face inspections. There is however, conditions and safety measures in place to ensure that private inspections are being conducted safety.

• Private property and display home inspections allowed with 1 agent and 1 prospective purchaser or tenant • The prospective purchaser or tenant may be accompanied by 1 other person from an existing household or an intimate partner, and the prospective purchaser or tenant’s children under 18 years old.

• All private inspections will be ‘contactless’ with protocols for inspections, including pre-arranged at a set time and limited to 15 minutes.

• A person is not permitted to travel to regional Victoria for a private property inspection, and a person may not travel to metropolitan Melbourne for a private property inspection.

At Reliance Real Estate, the safety of our clients is important to us, we will be following the following safety measures at all private inspections: • • • • •

All attendees must be wearing an approved face mask / covering Hand Sanitiser will be available for use prior to entering the property.

Attendee is advised to not touch and doors, fixtures or fittings.

Your agent will disinfect all surfaces at the end of the inspections If an attendee is showing symptoms, they will be asked to reschedule the appointment.

INSIGHTS REPORT SEPTEMBER

PAGE 8

FEATURED IN SEPTEMBER

Sales

RELIANCERE.COM.AU

SELECTION OF

Recently Sold SOLD for $437,000

3

2

2

SOLD for $585,000

4

2

2

SOLD $710,000

4

3

2

SOLD for $630,000

4

2

2

SOLD for $608,000

3

2

2

SOLD for $750,000

3

3

2

SOLD for $717,000

5

2

2

SOLD for $596,000

4

2

2

SOLD for $885,000

6

4

7

SOLD for $650,000

4

2

2

5 Comic Court, Harkness

35 Lilyturf Drive, Tarneit

7 University Road, Truganina

6 Cross Lane, Aintree

79 Philip Drive, Sunbury

19 Endeavour Way, Wyndham Vale

6 Mercantour Boulevard, Tarneit

46 Omaroo Street, Truganina

22 Regal Road, Point Cook

29 Santarosa Avenue, TArneit

INSIGHTS REPORT SEPTEMBER

SOLD for $670,000

3

2

2

SOLD for $600,000

4

2

2

SOLD for $545,000

5

2

2

SOLD for $595,000

3

2

2

SOLD for $500,000

4

2

2

40 Barber Drive, Hoppers Crossing

5 Radiance Street, Tarneit

6 Corbet Street, Melton South

5 Stanbury Court, Sunshine West

66 Chanticleer Avenue, Harkness

PAGE 10

Sell your home Off-Market with Reliance Appoint your Reliance Agent to launch your Off-Market Selling Campaign.

Over 100 Reliance agents built our buyers database with 60,000+ buyers from all other property related marketing e.g open homes, online portal enquiries.

All other Reliance agents are notified of your property for maximum buyer exposure throughout the network.

Bulk communication is made with all matching potential purchasers via email, SMS & telephone. VIP viewings and private inspections are conducted.

Offers and interest are received & reviewed.

Property is sold or valuable market intelligence is gained for open market release.

INSIGHTS REPORT SEPTEMBER

PAGE 11

RELIANCERE.COM.AU

SELECTION OF

Recently Sold SOLD for $510,000

4

2

2

SOLD for $790,000

4

2

2

SOLD for $504,000

3

2

2

SOLD for $630,000

4

2

2

SOLD for $539,000

5

2

2

SOLD for $470,000

4

2

2

SOLD for $360,000

3

3

1

SOLD for $620,000

4

2

2

SOLD for $390,000

3

1

2

SOLD for $665,000

4

2

4

6 Gregory Place, Melton West

19 Kinglake Drive, Manor Lakes

32 Carlyon Close, Melton West

43 Fieldstone Way, Brookfield

33 Yuille Street, Melton

81 Haystack Drive, Truganina

28 Woolpack Street, Hoppers Crossing

13 Wickham Street, Wyndham Vale

18 Trentbridge Road, Tarneit

81 Rose Grange Boulevard, Tarneit

INSIGHTS REPORT SEPTEMBER

SOLD for $355,000

3

1

1

SOLD for $453,000

3

1

1

SOLD for $540,000

3

2

2

SOLD for $599,999

3

1

2

SOLD for $460,000

3

1

2

20 Lancers Drive, HArkness

24 Strathmore Crescent, Hoppers Crossing

9 Firecrest Road, Manor Lakes

17 Austin Street, Werribee

7 Crowe Street, Hoppers Crossing

PAGE 12

SUBURB IN THE SPOTLIGHT

RELIANCERE.COM.AU

The History of Melton

Melton is a suburb located in the west of metropolitan Melbourne, Victoria. As of June 2018, had an estimated population of 68,765 to locals that call Melton home. Before Melton became a beaming residential area, it was once a quiet rural village. Melton received its name in 1852 and was named after an English town of Melton Mowbray which was popular for fox hunting. Melton was first listed as a district on 16 th September 1862 and later became a shire on 24th May 1871.

With Melton’s significant growth over the years and a lot of people calling Melton home, Melton is now home to 12 suburbs which also over the years have had some name changes. Most common that many know are Melton, Melton West, Melton South, Kurunjang but also have Weir Views, Strathtulloh, Brookfield, Toolern Vale, Harkness, Cobblebank, Eynesbury and Exford.

Melton is home to many great events most popular being the Djerriwarrh Festival that has now been running for over 40 years. The Djerriwarrh Festival is one of the largest community events held within the City of Melton. Melton is also very well known for being home to the harness racing complex Tabcorp Park and the base for Harness Racing Victoria.

As of 2020 there are multiple Heritage Listed Sites in the city of Melton and have listed them just to name a few.

• Former Exford Shearing Shed - 1182-1250 Exford Road, Eynesbury • Djerriwarrh Creek Bridge – Unused section of Western Highway • Exford Homestead - 355-455 Exford Rd, Weir Views • Mowbray College Patterson Campus, 102-112 Centenary Avenue, Kurunjang Fun Facts: •  The first Post Office opened on the 1 st March 1856 • In 1884 the railway from Melbourne was extended to Melton • The original inhabitants were the Wurundjeri Aboriginal people • The Weir in Melton South was built in 1916 by the State Rivers and Water Supply Commission to supply water to the Werribee Irrigation District

INSIGHTS REPORT SEPTEMBER

PAGE 13

SUBURB IN THE SPOTLIGHT

RELIANCERE.COM.AU

Melton West HOUSES APRIL 19 / FEBRUARY 20

SUBURB POPULATION

17,600 5 YEAR POPULATION CHANGE

24.3% HOUSES IN MELTON WEST

2,791 UNITS IN MELTON WEST

139 OWNER OCCUPIERS

74% RENTERS

26%

PERIOD

MEDIAN PRICE

FEBRUARY 2019

$436,500

JANUARY 2019

$430,000

DECEMBER 2019

$420,000

NOVEMBER 2019

$430,000

OCTOBER 2019

$435,000

SEPTEMBER 2019

$430,000

AUGUST 2019

$436,250

JULY 2019

$435,000

JUNE 2019

$435,000

MAY 2019

$436,500

APRIL 2019

$447,500

10 YEAR CHANGE IN MEDIAN PRICE PERIOD

CHANGE%

MARCH 2020

-1.35%

MARCH 2019

4.71%

MARCH 2018

28.01%

MARCH 2017

12.54%

MARCH 2016

1.72%

MARCH 2015

1.93%

MARCH 2014

-0.18%

MARCH 2013

-6.71%

MARCH 2012

5.34%

MARCH 2011

12.84%

SALES BY PRICE - 12 MONTHS (HOUSE) PRICE

NUMBER

<$200K

2

$200K - $400K

52

$400K - $600K

95

$600K - $800K

9

This information has been collected soley from CoreLogic/ RPData.

INSIGHTS REPORT SEPTEMBER

PAGE 14

SUBURB IN THE SPOTLIGHT

RELIANCERE.COM.AU

The History of Sunbury

Sunbury is a suburb 39km north-west of Melbourne, Victoria and is located within the City of Hume. According to the 2016 census Synbury’s population was a total of 36,084.

Sunbury was first settled in 1836 by two gentleman George Evans and William Jackson.

William and his brother Samuel were the ones to actually name the suburb after Sunburyon-Thames in Middlesex, England.

The Rupertswood Mansion as pictured above which is also now Heritage Listed holds significance as the birth place of The Ashes. The mansion was built back in 1876 and is known as the largest mansion built in Victoria in the 19 th century.

Heritage Listed Sites: • Rupertswood Mansion – 3 Macedon Street, Sunbury • Emu Bottom – 410 Racecourse Road, Sunbury • Rail Bridge – Over Blind Creek, Sunbury • Caloola (Former Sunbury Mental Hospital) – Sunbury Fun Facts: • First Post Office to open in Sunbury was the 13 th January 1858 • Sunbury has numerous important Aboriginal sites including the five earth rings which were discovered in the 1970’s and 80’s • The most famous and powerful citizen of the area was named Big Clarke • Sunbury is the birth place of crickets most sought trophy “The Ashes” • Sunbury first got electricity replacing gas lighting in 1909 • In 1994 Victoria University Sunbury campus first opened • In 1989 Sunbury Square shopping centre first opened in the area

INSIGHTS REPORT SEPTEMBER

PAGE 15

SUBURB IN THE SPOTLIGHT

RELIANCERE.COM.AU

Sunbury HOUSES MARCH 19 / FEB 200

SUBURB POPULATION

36,100 5 YEAR POPULATION CHANGE

6.0% HOUSES IN SUNBURY

11,310 UNITS IN SUNBURY

1,583 OWNER OCCUPIERS

78%

PERIOD

MEDIAN PRICE

FEB 2020

$540,000

JAN 2020

$540,000

DEC 2019

$535,000

NOV 2019

$530,750

OCT 2019

$534,250

SEPT 2019

$532,500

AUG 2019

$535,000

JULY 2019

$535,000

JUNE 2019

$535,000

MAY 2019

$535,000

APR 2019

$540,000

SALES PER ANNUM (HOUSE) PERIOD

#

2019

583

2018

605

2017

706

2016

660

2015

666

2014

571

2013

554

2012

530

2011

534

SALES BY PRICE - 12 MONTHS (HOUSE) PRICE

NUMBER

<$200K

1

$200K - $400K

17

RENTERS

$400K - $600K

365

22%

$600K - $800K

158

$800K - $1M

31

$1M - $2M

6

This information has been collected soley from CoreLogic/ RPData.

INSIGHTS REPORT SEPTEMBER

PAGE 16

RELIANCERE.COM.AU

SELECTION OF

Just Listed No.

Address

Bed Bath Car

Date

Price

1

12 Buloke Avenue, Manor Lakes

4

2

2

1/9/2020

2

Unit 55/27 Turva Avenue, Tarneit

2

1

1

1/9/2020

$395,000 - $425,000

3

29 Wendy Way, Tarneit

4

2

2

6/9/2020

Contact agent

4

12 Krohn Walk, Wyndham Vale

3

2

2

8/9/2020

$495,000 - $520,000

5

3 Milton Place, Melton South

4

2

2

9/9/2020

$565,000

6

19 Horseshoe Circuit, Truganina

4

2

2

9/9/2020

PIO

7

7 Midgard Street, Truganina

4

2

2

10/9/2020

Contact agent

8

32 Ceremony Drive, Tarneit

4

2

2

11/9/2020

Contact agent

9

48 Bromley Circuit, Thornhill Park

4

2

2

13/9/2020

Contact Vic

10

Unit 2/27 Turva Avenue, Tarneit

3

2

2

14/9/2020

Contact agent

11

18 Broadwater Street, Manor Lakes

3

2

2

15/9/2020

Contact agent

12

25 Murphy Street, Point Cook

6

6

2

15/9/2020

Contact agent

13

7/5 Greg Norman Drive, Sanctuary Lakes

3

2

2

17/9/2020

Contact agent

14

14 Broughton Avenue, Cobblebank

3

2

2

17/9/2020

$440,000 - $450,000

15

13 Esslemont Road, Thornhill Park

4

2

2

21/9/2020

$595,000 - $625,000

16

13 Cardigan Close, Melton South

4

2

2

22/9/2020

$570,000 - $590,000

17

102 Landsdowne Parade, Tarneit

4

2

2

22/9/2020

Contact agent Contact Agent

Contact agent

18

7 Flora Way, Tarneit

4

2

2

22/9/2020

19

1 Suttie Street, Point Cook

3

2

2

23/9/2020

$590,000 - $610,000

20

3 Grindal Way, Point Cook

4

2

2

23/9/2020

$600,000 - $630,000

INSIGHTS REPORT SEPTEMBER

PAGE 17

RELIANCERE.COM.AU

SELECTION OF

Just Listed No.

Address

Bed Bath Car

Date

Price

21

16 Aspera Drive, Brookfield

4

2

2

28/9/2020

22

10 Borboleta Street, Tarneit

4

2

2

28/9/2020 Contact agent

23

18 Zoe Street, Rockbank

3

2

1

28/9/2020

24

21 Guthrie Drive, Melton South

4

2

2

28/9/2020

25

87 Citybay Drive, Point Cook

6

2

2

28/9/2020 Contact agent

26

9 Marble Drive, Cobblebank

4

3

2

29/9/2020

27

31 Danube Drive, Werribee

3

1

2

30/9/2020 Contact agent

INSIGHTS REPORT SEPTEMBER

$510,000 - $530,000

$430,000 $510,000 - $530,000

$605,000 - $635,000

PAGE 18

Weâ&#x20AC;&#x2122;re excited to able to personally visit our clients properties once again for property appraisals..

Appraisals are back!

8372 2018 reliancere.com.au

RELIANCERE.COM.AU

SALES TEAM

Meet Our

AJ

Aarti Puri

Abhi Elawadhi

Abhishek Parashar

Ajay Nain

Akash Choudhary

Akhil Kansal

Deepak Walia

Dhruv Chaudhary

Gurmit Singh Aiden

Divyesh Waghela

Harry Patel

INSIGHTS REPORT SEPTEMBER

Donna Carson

Glenda Del Pilar

Inder Vasu

Jd Patel

PAGE 21

RELIANCERE.COM.AU

SALES TEAM

Meet Our

Jessica Leng

Kamlesh Kamani

Kanan Patel

Karan Vejrani

Kaydee Singh

Mavi Singh

Meenu Mehndiratta

Michael Tran

Mick Vashisht

Milan Neotane

Moonah Ahmed

Mukesh Kumar

Nam Duy Tran (danny)

Namneet Walia

Karan Kapoor

Jimmy Gill

INSIGHTS REPORT SEPTEMBER

PAGE 22

RELIANCERE.COM.AU

SALES TEAM

Meet Our

Nik Behl

Nirav Parikh

Nitesh Rana

Pratik Shah

Prince Dhir

Priya Chowdary

Raj Pratap

Rajbir Bains

Ravi Khepar

Rakesh Neotane

Ravi Gupta

Ruban Kaur

Sagar Singh

Sandy Rana

Seemaa Kaur

Rushita Vagdhan

INSIGHTS REPORT SEPTEMBER

PAGE 23

RELIANCERE.COM.AU

SALES TEAM

Meet Our

Shubham Rana

Sunil Kumar

Socorro Gomez

Sushant Peshin

Swati Rana

Taney Jain

Tejveer Singh

Varun Vagdhan

Vik Monga

Vikas Rana

Vee Sharma

INSIGHTS REPORT SEPTEMBER

PAGE 24

FEATURED IN SEPTEMBER

Rentals

IN STAGE 4 LOCKDOWN

RELIANCERE.COM.AU

Leased Properties Compare our results with other local agencies..

CAROLINE SPRINGS

POINT COOK

OTHER AGENCIES

OTHER AGENCIES 5

10

15

20

MELTON

TARNEIT

OTHER AGENCIES

OTHER AGENCIES 5

10

15

20

WERRIBEE

SUNBURY

OTHER AGENCIES

OTHER AGENCIES 5

10

15

INSIGHTS REPORT SEPTEMBER

20

5

10

15

20

5

10

15

20

5

10

15

20

PAGE 26

IN STAGE 4 LOCKDOWN

RELIANCERE.COM.AU

Median Rent CAROLINE SPRINGS

POINT COOK

OTHER AGENCIES

OTHER AGENCIES $300 $350 $400 $450

$300 $350 $400 $450

MELTON

TARNEIT

OTHER AGENCIES

OTHER AGENCIES $300 $350 $400 $450

$300 $350 $400 $450

WERRIBEE

SUNBURY

OTHER AGENCIES

OTHER AGENCIES $300 $350 $400 $450

INSIGHTS REPORT SEPTEMBER

$300 $350 $400 $450

PAGE 27

PROPERTY MANAGEMENT TEAM

Meet Our

Ashlee Sciberras

Bansari Raval

Deepthi Yedla

Isha Monga

Matthew Buller

Nikki Kaur

Rahul Mandhan

Samantha Grima

Sanchit Walia

Serene Lai

Vita Wibianty

Tyra Suemai

INSIGHTS REPORT SEPTEMBER

PAGE 28

RESELECTION

OF

Recently Leased $400

$420 per week

LEASED

146 Stonehill Drive, Maddingley

4

2

LEASED

2

7 Tilton Street, Truganina

4

$370

45 Gala Avenue, Wyndham Vale

4

2

2

LEASED

8 Watagan Street, Tarneit

4

4

2

2

LEASED

27 Bristol Street, Strathtulloh

3

3

2

1

LEASED

39 Saltbush Crescent, Brookfield

4

3

1

2

2

LEASED

5

3

3

3 Mabel Crescent, Mount Macedon

$340

2

per week

2

LEASED

Unit 4/12-13 Bunya Place, Werribee

3

2

LEASED

22 Eltham Parade, Manor Lakes

INSIGHTS REPORT SEPTEMBER

4

2

1

per week

2

LEASED

31 Kentwell Street, Truganina

4

2

2

$450

per week

2

2

$425

$370

per week

13 Tanilba Street, Werribee

1

per week

$330

LEASED

1

$370

per week

4 Amble Way, Weir Views

3

95 Station Road, Melton South

per week

$350

LEASED

LEASED

$360

per week

10 Dabinett Street, Tarneit

1

per week

$400

LEASED

2

per week

$420

per week

LEASED

$330

per week

per week

2

LEASED

25 Bronze Street, Tarneit

4

3

2

PAGE 30

RELIANCERE.COM.AU

SELECTION OF

Recently Leased $520

$390

per week

LEASED

9 Arkaba Way, Werribee

5

3

2

LEASED

1 Vibe Road, Tarneit

4

$380

7 Rain Lover Drive, Kurunjang

3

2

2

LEASED

25 Diamantina Way, Cobblebank

3

4

2

2

LEASED

29 Greenleaf Circuit, Tarneit

4

4

2

2

LEASED

25 Iluka Drive, Werribee

3

4

2

2

2

2

LEASED

30 Restful Way, Rockbank

3

LEASED

4/66 Duncans Road, Werribee

INSIGHTS REPORT SEPTEMBER

2

1

2

2

$390 per week

2

LEASED

46 Willmott Drive, Hoppers Crossing

4

2

2

$380 per week

2

LEASED

Tangelo Terrace, Werribee

4

2

2

$390

per week

2

2

per week

$300

per week

17 Chorley Street, Strathtulloh

2

2

$360

per week

$420

LEASED

3

$350

per week

654 Armstrong Road, Wyndham Vale

29 Christopher Crescent, Melton

per week

$400

LEASED

LEASED

$380

per week

15 Mopane Circuit, Wyndham Vale

2

per week

$370

LEASED

2

per week

$350

per week

LEASED

$330

per week

per week

1

LEASED

11 Patchouli Street, Truganina

3

2

1

PAGE 31

SUBURB IN THE SPOTLIGHT

RELIANCERE.COM.AU

The History of Point Cook

Photo credit: Rexness / flickr.com Point Cook is located 22km south-west in Melbourne, Victoria and is located within the City of Wyndham. Point Cook is now one of the major growth regions located in the western suburbs of Melbourne. The suburb was named after Lieutenant John Murray Cooke and was originally spelt as Point Cooke.

The Federal Government purchased a large section of Point Cook in 1912 with the vision to establish the Australian Flying Corps (AFC). The AFC was such a success after the First World War it was then later renamed Royal Australian Air Force (RAAF). The RAAF base was established in March 1913 with its first military flight on the 1 st March 1914. The base was used as a flying training school until 1992. Today the Point Cook RAAF base is now home to the RAAF College and the RAAF Museum.

In 1853 a gentleman by the name of Thomas Chirnside added the farmlands of Point Cook to his name. In 1857 along side his brother Andrew Chirnside built the famous 25 room called the Point Cook Homestead. After the completion of the homestead the brothers went on to begin the build of the beautiful mansion at Werribee Park. Upon completion of the mansion Andrew Chirnside and his wife called it home.

Heritage Listed: •  RAAF Point Cook – Point Cook Road, Point Cook • Point Cook Homestead – Homestead Road, Point Cook Fun Facts: •  Radio presenter Dave Williams calls Point Cook home • Stage 1 of Point Cook Town Centre first opened on the 21 st August 2008 with Stage 2 opening at the end of November 2009 • Archie Thompson former striker for Melbourne Victory Football Club is a local resident.

• Nearest train station in Williams Landing was first opened on the 30 th April 2013.

• In 2001 the census shown that population was only 1,737 and by 2018 it had risen to 60,105

INSIGHTS REPORT SEPTEMBER

PAGE 32

SUBURB IN THE SPOTLIGHT

RELIANCERE.COM.AU

Point Cook HOUSES AUGUST 18 / JULY 19

SUBURB POPULATION

PERIOD

MEDIAN PRICE

49,900

JULY 2019

$630,000

JUNE 2019

$633,000

MAY 2019

$638,000

APRIL 2019

$635,000

MARCH 2019

$633,000

FEBRUARY 2019

$640,000

JANUARY 2019

$639,000

DECEMBER 2018

$638,250

NOVEMBER 2018

$645,000

OCTOBER 2018

$645,000

SEPTEMBER 2018

$645,000

5 YEAR POPULATION CHANGE

54.1% HOUSES IN POINT COOK

17,182

10 YEAR CHANGE IN MEDIAN PRICE PERIOD

CHANGE%

JULY 2019

-1.33%

JULY 2018

15.05%

UNITS IN POINT COOK

JULY 2017

12.58%

JULY 2016

12.72%

1,501

JULY 2015

-0.6%

JULY 2014

-1.87%

JULY 2013

1.34%

JULY 2012

-1.67%

JULY 2011

5.88%

JULY 2010

7.59%

OWNER OCCUPIERS

69% RENTERS

31%

SALES BY PRICE - 12 MONTHS (HOUSE) PRICE

NUMBER

<$200K

0

$200K - $400K

67

$400K - $600K

85

$600K - $800K

4

$800K - $1M

3

$1M - $2M

0

This information has been collected soley from CoreLogic/ RPData.

INSIGHTS REPORT SEPTEMBER

PAGE 33

RELIANCERE.COM.AU

SELECTION OF

Just Listed $400 per week

4

2

2

$400 per week

4

2

2

$410 per week

4

2

2

$395 per week

3

2

$340 per week

3

2

2

$410 per week

4

$370 per week

3

2

1

$365 per week

$390 per week

4

2

2

$285 per week

20 Madigan Street, Tarneit

10 Rockson Drive, Truganina

14 Broughton Avenue, Cobblebank

25 Roosevelt Way, Point Cook

19 Bellview Drive, Rockbank

80 Westmill Drive, Hoppers Crossing

58c Tom Roberts Parade, Point Cook

13 Yamada Street, Truganina

27 Fitzpatrick Drive, Altona Meadows

Unit 3/23-25 Baggot Drive, Hoppers Crossing

INSIGHTS REPORT SEPTEMBER

$380 per week

4

2

2

2

$350 per week

3

1

2

2

2

$520 per week

2

1

1

3

1

1

$350 per week

3

1

2

2

1

0

$390 per week

4

2

3

20 Labero Drive, Tarneit

70 Marlborough Crescent, Hoppers Crossing

Unit 82/27 Turva Avenue, Tarneit

66 Westcott Parade, Rockbank

11 Wonnangatta Crescent, Weir Views

PAGE 34

RELIANCERE.COM.AU

SELECTION OF

Just Listed $750 per week

4

2

2

$330 per week

2

1

1

$340 per week

3

1

2

$355 per week

2

2

1

$300 per week

3

1

1

$400 per week

3

2

2

$290 per week

2

1

1

$390 per week

3

2

1

$370 per week

3

2

2

$350 per week

4

2

0

$395 per week

4

2

2

$385 per week

4

2

2

$410 per week

3

2

1

$430 per week

4

2

2

$400 per week

4

2

2

1889 Gisborne-Melton Road, Kurunjang

1B Meek Street, Werribee

Unit 1/122 Shaws Road, Werribee

130 Morris Road, Hoppers Crossing

25 Biscay Street, Point Cook

2/8 Don Avenue, Hoppers Crossing

32 Galvin Street, Altona

28 Vilnius Way, Truganina

14 Alberfeldie Drive, Truganina

7 Aniseed Close, Point Cook

INSIGHTS REPORT SEPTEMBER

1 Bottlebrush Drive, Hoppers Crossing

11 Livingstone Square, Point Cook

16/2 Rockgarden Drive, Truganina

14 Hermes Road, Truganina

24 Conservation Way, Weir Views

PAGE 35

RENTALS DURING STAGE 4 LOCKDOWN

RELIANCERE.COM.AU

Summary 45

TOTAL PROPERTIES LEASED IN SEPTEMBER

$383 65

NEW LISTINGS FOR LEASE

96% 90

ADVANCE RENTAL PAYMENTS

LEASED PROPERTIES

9372 90

AVERAGE LEASE PRICE PER WEEK

VIRTUAL TOUR VIEWS

ROUTINE INSPECTION

INSIGHTS REPORT SEPTEMBER

PAGE 36

SALES DURING STAGE 4 LOCKDOWN

RELIANCERE.COM.AU

Summary 38

TOTAL PROPERTIES SOLD IN SEPTEMBER

$515,328 93

TOTAL PROPERTY APPRAISALS IN SEPTEMBER

110 79

AVERAGE SALE PRICE

NEW LISTINGS

SOLD PROPERTIES

9372

VIRTUAL TOUR VIEWS

INSIGHTS REPORT SEPTEMBER

PAGE 37

RELIANCE HQ 10/22-30 Wallace Avenue Point Cook VIC 3030 (03) 8372 2018 hq@reliancere.com.au