JULY
Insights
reliancere.com.au
TABLE OF
Contents
2 4
WELCOME A message from the CEO Sunil Kumar
ARTICLES Featured articles from the month of July
9
SALES SUMMARY
26
RENTALS ACTIVITY
38
SUMMARY
Featured Sold and On Market listings
Featured Leased and On Market listings
A quick summary of the month
SUNIL KUMAR
CEO/Founder From July 9th, the Melbourne and Mitchell Shire went into lockdown 2.0. Until restrictions are lifted, auctions are to be held remotely and property inspections will be by appointment only. In the final week of July, Corelogic reported that out of 498 auctions that were scheduled, 209 auctions were either withdrawn from sale or converted to private sale. At Reliance, majority of our properties currently available are through private sale which is providing great outcomes for our vendors. With a total of 102 new properties hitting the market through July, our agents are showcasing these homes through virtual inspections. Thinking of selling during this time? Domain.com.au reported house pricing drops throughout Victoria during the coronavirus crisis, with inner city sellers facing a price drop as large as 20 per cent. Despite the recent drop in the inner city suburbs, it appears the Western suburb is still having steady rise in house prices. Domain House Price Report, June Quarter: June 2020
$620,000
March 2020
$605,000
June 2019
$580,000
Quarterly Growth
+ 2.5%
Yearly Growth
+ 6.9%
On the 24th of July, the nation celebrated ‘Property Managers Day’ an initiative by the REIV to recognise the efforts of property managers nationwide through the pandemic. The Reliance property management team has been continuously working, adjusting their processes with every new legislation. We want to thank them for their dedication throughout these tough times. In July alone, the property management team leased 72 properties – a personal best for the business.
Stay Safe,
Sunil Kumar CEO/Founder
FEATURED IN JULY
Articles
FEATURED IN JULY
FUNDINGFORCE.COM.AU
Articles Arrange a building inspection A building inspection is very important as it looks at the overall structure of the property, any safety hazards that are present and also any major or minor defects. You are able to have listed on the contract ‘subject to building inspection’ which will give you the safety net should there be any issues that come from the building inspection. If you have not mentioned this on the contract, you will simply skip this step.
What happens after signing the contract?
Final Inspection Once you get to this point you know that settlement day is nearing. A final inspection is normally carried out 1 week prior to settlement, you should contact your agent to arrange a day and time that is suited. In the final inspection you check to see that the property is still in the same condition as when sold, also checking that all appliances that were in working order still are and to check that there has been no damage to the property. If there is any issues, it is important that you notify your conveyancer immediately.
Whether you are purchasing a property for the first time or it has been a while since you last purchased, here at Funding Force we want to always give our clients the most up to date information and make the process as stress free as possible. So what we have done for you is explain the process from start to finish in a few dot points giving you a better understanding of what is involved.
Settlement Adjustment Fee’s Prior to settlement your conveyancer will provide you with a settlement adjustment sheet with will calculate any current council and water rates as well as any allowances that may need to be paid to the vendor by you. It is always recommended that your put aside a few thousand dollars to cover the costs of the settlement adjustment fee’s and conveyancing fee’s.
Pay your house deposit Paying your house deposit is normally in two stages. The first part deposit is called the holding deposit which is normally about one-thousand-dollar mark, paying that first deposit is paid upon the signing of the contract. During this stage of the sale, we call this a ‘conditional sale’.
Organise Insurance & Utilities Prior to settlement it is important that you have organised building and contents insurance effective from the purchase date.
The remaining balance of the deposit is paid prior to your ‘unconditional’ due date, this is when all the conditions have been met, if they have been mentioned on the agreement. If you are purchasing at auction, the sale is unconditional. Get your home loan formally approved When starting to look at purchasing you would speak to a lender to get preapproval so you know your borrowing capacity and spending limit. If you have purchased ‘subject to finance’ after signing the contract you would then start the process of getting your loan formally approved to proceed with purchase. Once approved that is when you pay the remaining deposit. Note: if you have or planning to purchase at auction, it is a requirement that you have already got a finance approval from a bank.What happens if my tenant cannot pay rent as a result of financial distress?
INSIGHTS REPORT JULY
Day of Settlement Settlement usually takes place anywhere between 30 and 90 days from the date the contract was signed, and the date was agreed upon. Your conveyancer will confirm with yourself and the agency what time settlement is booked in, and a time to collect the keys.
What happens if my tenant cannot pay rent as a result of financial distress? 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. We appreciate this is a really challenging time. To get through this crisis, all of us will have to work together. Under this reform, landlords will not be able to evict tenants, except in specific exceptional circumstances
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FEATURED IN JULY
FUNDINGFORCE.COM.AU
Articles
Understanding your credit score Are you not really sure what your credit score means or have you recently applied for credit but have been knocked back due to your credit score? Here at Funding Force we don’t only help our clients obtain finance but also want to help consolidate your debt and get you back on track. We have created a few dot points with the most commonly asked questions regarding credit scores. What is a Credit Score? A credit score is a number that ranges from 0 – 1200 and is obtained by lenders to help provide insight on your score and calculate your risk estimate. The primary reason they are used by lenders it to help predict the likelihood of a future adverse event being added to your credit report within the next 12 month period. What is included in a credit report? There are a few things included in your report that lenders look at closely to help base their decision when offering finance and that is what is included on your report so we have listed the key contributing factors that are listed on the report. • • • •
Consumer Default Information – Having a current default on your report can really impact obtaining credit as it’s an indicator of risk factor. Public Adverse Information – The existence of this on your credit file also known as court judgments is another indicator of risk factor. Current Credit Enquiries – This shows if you have recently been trying to obtain credit, if you have been trying to obtain credit multiple times in a short period it can be an indicator of risk. Historical Credit Enquiries – This shows your history of type and frequency of trying to obtain credit. If you have a higher frequency over a short period of time it can be an indicator of risk.
How can I fix my credit score? No one is perfect and we have all made a mistake at one point in time, just keep in mind that although your score may not be ideal at the moment it isn’t forever and it is repairable. Firstly, obtaining a copy of your report will help you identify anything that is negatively impacting your credit. Once you have done that you can then contact the individual lenders to discuss your option in rectifying it. By paying off your debt it will be a weight lifted off your shoulders but over time your credit score will begin to improve. Going forward though be sure to pay off your bills on time, paying things on time also will increase your score over time. How can I obtain a copy of my credit report? Did you know that you are able to obtain your free credit report? There are 3 main reasons you are eligible to obtain your report which are if you have been declined credit, corrections on your report or wanting just wanting to check your report once every 12 months. Obtaining a copy of your report doesn’t affect your credit score and you are able to obtain your free credit score via https://www.equifax.com.au/
INSIGHTS REPORT JULY
PAGE 6
FEATURED IN JULY
RELIANCERE.COM.AU
Articles Evening ritual Set up an evening ritual. For some it’s sitting outside having tea with family. For others it can be a zoom call with family over dinner. Whatever help you re-connect to yourself, do that. But make sure you do it on a regular basis. Switch the notifications off Some of us have an innate tendency to stay in control. Losing sight of our emails can be a major source of stress. According to McKinsey institute, we spend close to a third of our work time managing emails. The average person checks email 77 times a day, sends and receives more than 122 email messages a day, and spends 28 percent or more of their work week managing a constant influx of email. That’s enough time and energy spent on emails. Set a reminder up in your calendar to turn the notification off on your phone to avoid being distracted more by the emails.
Avoiding burning out when working from home Over-worked? Over-stressed? Before, you get close to burnout let’s re-connect you to sanity. Working from home was a luxury few months ago. Today it’s a necessity. Organisations that cannot cater to work from home are losing their people along with the business. But while working from home comes with its joys it can be very stressful for some. Relax! Our team has put together a list of brilliant ideas that will turn your 24/7 gig back to 9 to 5 and save you peace of mind. Here’s how: Set a separate work station Set up a separate work station in a room with sufficient light and air. Ensure you show up dressed at the usual work start time. If office was starting at 9:00am, then show up at your work station at 9:00am sharp. Make sure to take a lunch break at a separate place. Do not work and eat at the same table.
Incorporate an activity in your schedule Make a conscious effort to go for a walk, run or simply stretch. Play your favourite music and take some time to stretch. This would help you calm down. You can even play music and spend some time in a hot bath tub. Australian guidelines recommend adults do at least 30 minutes of moderate to intensive physical activity on most or all days of the week. You can make up 30 minutes over the day by combining shorter 10 to 15 minute sessions. Try practicing mindfulness while exercising, this also helps reduce your stress and improves your mental health. Set up friends catch ups Don’t let covid-19 get in the way of your networking skills. Schedule regular catch ups with friends. Talk about things outside of work. You can have Microsoft team meetings, Zoom, WhatsApp or Skype meetings with friends. We are living in a technological era and the options are endless.
Keep a diary Make a to-do list first thing in the morning. You can use a diary, Microsoft to do list, or Google tasks bar. Having a list in front of you would help you calm down and would help you stay organised. Cut off each task upon completion. Towards, the end of the day it would give you a sense of satisfaction knowing you have completed majority of tasks from your list. But don’t just stop there. Before finishing your day make a list of tasks you need to follow up on the next day. Leave that page open for your eyes to pick up first thing the next morning. Your mind will find peace in knowing that your tasks will be looked after the next day and the weight of the day would wear off.
INSIGHTS REPORT JULY
PAGE 7
FEATURED IN JULY
RELIANCERE.COM.AU
Articles
Saving money during COVID-19 The outbreak of the Coronavirus has caused chaos in all our lives. If there’s one word to describe the implications and overall feeling in Australia right now, its uncertainty. We as a country are uncertain when there’s going to be a cure and we’re uncertain how this will affect our income and savings. However, for some they are taking advantage of the current climate and kicking some serious savings goals. You’re probably wondering, “How can people save during this time?: Well its quite simple we’re working from home and in lockdown and we can’t go out and spend money. So what are some ways you can save money during this crazy time: Cut out the non-essentials Let’s face it, most of us will be stuck inside our homes for majority of the next few weeks. Simple ways to trim your spending would be, only buying the essential items and if you can’t cut an item out completely – find a cheaper alternative. For example, your normal $30 bottle of pinot could be replaced with a $10 bottle that tastes just as good. Get those refunds! As a result of COVID-19, many events, flights and overseas travel services have been cancelled. In most cases, you will be entitled to either a refund or some form of credit according to the Australian Competition and Consumer Commission (ACCC) Having a savings plan – If you fail to plan you plan to fail. So planning is the most important factor. One of the most effective ways to save your income is the 70/30 rule. Put away 70% of your income into your savings account and the other 30% will cover your living expenses. Budget and never spend more than you earn – Have a budget and stick to it. Don’t get caught up on Afterpay. If you can’t afford something don’t buy it. Only buy what you need the necessities and when you have some money left over treat yourself and buy what you want. Review your home loan repayments – The interest rates right now are historically low. If you don’t have a home loan below 3% you’re paying too much out of your pocket. Speak to your broker or your bank to refinance and start saving now! We recommend the team at Funding Force on (03)9369 0690. A quote we heard which resonated with us is, “Now is for surviving, not for thriving” this especially is in relation to our money or personal goals. If you are off-track with where you wanted to be, that is okay. It is unusual times we find ourselves in and things will be back on track soon enough. Stay safe and continue to #StopTheSpread.
INSIGHTS REPORT JULY
PAGE 8
FEATURED IN JULY
Sales
IN JUNE
RELIANCERE.COM.AU
Median Sale Price Compare the median sales price in the western suburbs and surrounds..
CAROLINE SPRINGS
POINT COOK
OTHER AGENCIES
OTHER AGENCIES 300K 500K 800K 1M
300K 500K 800K 1M
MELTON
TARNEIT
OTHER AGENCIES
OTHER AGENCIES 300K 500K 800K 1M
300K 500K 800K 1M
WERRIBEE
SUNBURY
OTHER AGENCIES
OTHER AGENCIES 300K 500K 800K 1M
INSIGHTS REPORT JULY
300K 500K 800K 1M
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 JULY
PAGE 11
RELIANCERE.COM.AU
SELECTION OF
Recently Sold SOLD for $675,000
4
2
2
SOLD for $550,000
5
2
2
SOLD $470,000
4
2
2
SOLD for $440,000
3
2
2
SOLD contact agent
4
2
2
SOLD for $475,000
4
2
2
SOLD for $478,000
3
2
2
SOLD for $505,000
3
2
2
SOLD for $600,000
3
1
2
SOLD for $470,000
3
2
1
23 Hydrangea Drive, Point Cook
12 Stoneford Chase, Melton South
21 Olympic Circuit, Melton South
13 Vetiver Avenue, Truganina
76 Diamantina Way, Melton South
INSIGHTS REPORT JULY
92 Turpentine Road, Brookfield
6 Bronson Circuit, Hoppers Crossing
3 Sheepfold Court, Melton West
23 Tristania Drive, Point Cook
6 Walter Street, Tarneit
SOLD for $356,000
3
2
2
SOLD for $670,000
4
2
2
SOLD for $562,000
4
2
2
SOLD for $645,000
3
2
2
SOLD for $465,000
4
2
2
4/51-55 Tullidge Street, Melton
3 Beaumont Street, Aintree
75 Wimbledon Boulevard, Melton South
6 Lansdowne Parade, Tarneit
8 Hollydale Court, Melton West
PAGE 12
SUBURB IN THE SPOTLIGHT
RELIANCERE.COM.AU
Melton West Entertainent and live performances are held at the Melton Civic Centre and also ath the Tabcorp Park racing complex. Each year the Djerriwarrh Festival is held in November. Melton West is a great suburb for: + neighbourly spirit + Schools + Parks and recreation + Safe and sound
Melton West is an urban area within metropolitan Melbourne. It is considered part of the Greater Melbourne area and is included in the capitals population statistical division. Melton West consists of seven suburban areas; Melton South, Brookefield, Karunjamg, Toolern Vale, Melton West, Harkness and finally Melton at its centre.
Who lives in Melton West? + Families with kids + Retirees + professionals + Singles References: CoreLogic, Wikipedia and Homely
High street is the main activity centre, additional shopping centres can be found in Melton South at the railway station and in Melton West you will find Woodgrove Shopping Centre which is the areas largest shopping Venue. There are 12 primary schools, 6 senior/secondary schools and 1 specialist school distributed accross all 7 suburban areas of Melton. The size of Melton West is approximately 9.3 square kilometres. The population of Melton in 2011 was 14,171 people. By 2016 the population was 17,621 showing a population growth of 24.3% in the area during that time. The predominant age group in Melton West is 0-9 years. Households in Melton West are primarily couples with children and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Melton West in a trades occupation. In 2011, 75% of the homes in Melton West were owner-occupied compared with 71.6% in 2016.
INSIGHTS REPORT JULY
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 JULY
PAGE 14
RELIANCERE.COM.AU
SELECTION OF
Recently Sold SOLD for $450,000
3
2
1
SOLD for $450,000
3
2
2
SOLD for $418,000
3
2
2
SOLD for $470,000
4
2
4
SOLD for $570,000
4
2
2
SOLD for $450,000
3
2
1
SOLD for $625,000
4
3
2
SOLD for $440,000
3
2
3
SOLD for $370,000
3
1
1
SOLD for $665,000
4
2
4
7 Rocky Gate Drive, Truganina
53 Brookfield Avenue, Brookfield
6 Elland Circuit, Truganina
5 Gelston Street, Truganina
40 Pennyroyal Crescent, Kurunjang
INSIGHTS REPORT JULY
7 Hakea Close, Maddingley
174 Gap Road, Sunbury
7 Latimer Street, Wyndham Vale
22 Banksia Crescent, Hoppers Crossing
81 Rose Grange Boulevard, Tarneit
SOLD for $645,000
4
2
2
SOLD for $1,131,000
3
1
1
SOLD for $395,000
3
2
2
SOLD for $505,000
4
2
2
SOLD for $460,000
3
1
2
12 Gelston Street, Truganina
45 Bunbury Street, Footscray
81 James Cook Drive, Melton West
3 Tuition Drive, Tarneit
7 Crowe Street, Hoppers Crossing
PAGE 16
RELIANCERE.COM.AU
SELECTION OF
Recently Sold SOLD for $450,000
4
2
2
SOLD for $760,000
5
2
2
SOLD for $525,000
4
3
5
SOLD for $600,000
3
1
2
SOLD for $415,000
3
1
2
SOLD for $590,000
4
2
2
SOLD for $685,000
4
2
2
SOLD for $472,500
4
2
2
SOLD for $360,000
3
2
1
SOLD for $600,000
4
2
2
2 Woolybush Drive, Tarneit
22 Underbank Boulevard, Bacchus Marsh
3 Chelmsford Way, Melton West
14 Kinnear Avenue, Tarneit
44 Avonmore Way, Melton South
INSIGHTS REPORT JULY
8 Frances Browne Way, Tarneit
76 Barber Drive, Hoppers Crossing
11 Memory Crescent, Wyndham Vale
37 Turpentine Road, Brookfield
43 Rees Road, Sunbury
SOLD for $720,000
4
2
2
SOLD for $1,120,000
5
5
2
SOLD for $675,000
3
2
2
SOLD for $510,000
5
2
2
SOLD for $567,000
4
2
2
76 Phillip Drive, Sunbury
209 Featherbrook Drive, Point Cook
34 Wildflower Cres, Hoppers Crossing
46 Norwood Avenue, Melton South
11 Maintop Way, Tarneit
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SUBURB IN THE SPOTLIGHT
RELIANCERE.COM.AU
Sunbury Sunbury’s schools and education facilities: + Red Rock Christian College, Sunbury + Sunbury Primary School + St Annes Primary School + Salesian College Sunbury Sunbury is a great suburb for: + Parks & Recreation + Schooles + Safe & Sound + Resale or Rental Value Travel just 40 minutes north of Melbourne’s busy city centre and discover a region full of renowned vineyards, iconic native wildlife and a rapidly growing foodie scene. Plan out your winery tour over a morning coffee and watch the jumbo jets coming into land at nearby Tullamarine Airport.
Who lives in Sunbury? + Families with kids + Retirees + Professionals + Country Lovers + Singles
With a reputation that stretches across Australia and abroad, the Sunbury wine region produces a range of exceptional vintages. Stay a while to tour the best of these celebrated producers, meeting the winemakers and visiting cellar doors for tastings. Be sure to sample the famous shiraz and chardonnay at historic Goona Warra Vineyard (1863) and the award-winning Craiglee Vineyard (1864).
References: CoreLogic, Wikipedia and Homely
The size of Sunbury is approximately 132 square kilometres. It has 183 parks covering nearly 3.8% of total area. The population of Sunbury in 2011 was 34,030 people. By 2016 the population was 36,073 showing a population growth of 6.0% in the area during that time. The predominant age group in Sunbury is 40-49 years. Households in Sunbury are primarily couples with children and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Sunbury work in a trades occupation. In 2011, 79.2% of the homes in Sunbury were owner-occupied compared with 76.5% in 2016. Currently the median sales price of houses in the area is $540,000.
INSIGHTS REPORT JULY
PAGE 18
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 JULY
PAGE 19
RELIANCERE.COM.AU
SELECTION OF
Just Listed JUST LISTED
3
2
2
JUST LISTED
4
2
2
JUST LISTED
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JUST LISTED
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1
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JUST LISTED
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JUST LISTED
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JUST LISTED
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JUST LISTED
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JUST LISTED
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JUST LISTED
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JUST LISTED
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JUST LISTED
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1
JUST LISTED
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JUST LISTED
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JUST LISTED
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2
2
9 Firecrest Road, Manor Lakes
112 Derrimut Road, Hoppers Crossing
29 Santarosa Avenue, Tarneit
10/78 Rippleside Terrace, Tarneit
17 Manooka Road, Brookfield
INSIGHTS REPORT JULY
7 Brooksby Circuit, Harkness
33 Holyoake Parade, Manor Lakes
11 Phillip Drive, Wyndham Vale
9 Blueleaf Place, Brookfield
58 Mulholland Drive, Tarneit
1845-1859 Melton Highway, Bonnie Brook
66 Chanticleer Avenue, Harkness
20 Bellbridge Drive, Hoppers Crossing
20 Lancers Drive, Harkness
19 Endeavour Way, Wyndham Vale
PAGE 20
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SELECTION OF
Just Listed JUST LISTED
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2
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JUST LISTED
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JUST LISTED
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JUST LISTED
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2
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JUST LISTED
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JUST LISTED
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JUST LISTED
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JUST LISTED
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JUST LISTED
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JUST LISTED
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JUST LISTED
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JUST LISTED
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JUST LISTED
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JUST LISTED
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JUST LISTED
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2
2
24 Strathmore Cres, Hoppers Crossing
35 Becontree Crescent, Strathtulloh
2/100 Underbank Bvd Bacchus Marsh
81 Haystack Drive, Truganina
29 Rose Boulevard, Lancefield
INSIGHTS REPORT JULY
13 Ajax Street, Truganina
6 Mercantour Boulevard, Tarneit
41 Civic Street, Diggers Rest
115 Isabella Way, Tarneit
81 Wembley Avenue, Strathtulloh
9 Old Park Drive, Melton
36 Lady Penrhyn Drive, Wyndham Vale
1/7 Djerriwarrh Court, Kurunjang
11 Split Rock Drive, Brookfield
10 Doyle Court, Truganina
PAGE 21
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Tejveer Singh
Varun Vagdhan
Vik Monga
Vikas Rana
Vee Sharma
INSIGHTS REPORT JULY
PAGE 28
FEATURED IN JULY
Rentals
IN JULY
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
INSIGHTS REPORT JULY
15
20
5
10
15
20
5
10
15
20
5
10
15
20
PAGE 27
Virtual Property Appraisal On any platform, at any time that suits you!
IN JULY
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 JULY
$300 $350 $400 $450
PAGE 30
RELIANCERE.COM.AU
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 JULY
PAGE 31
RELIANCERE.COM.AU
SELECTION OF
Recently Leased $490
$31,500 per annum
LEASED
17/215 Palmers Road, Truganina
LEASED
Area: 160sqm approx.
4 Ida Place, Seabrook
5
$360
22 Augusta Way, Strathtulloh
4
2
2
LEASED
1 Oatlands Lane, Cairnlea
3
3
2
2
LEASED
5 Duchess Court, Point Cook
4
3
2
2
LEASED
25 Dickens Street, Strathtulloh
4
4
2
INSIGHTS REPORT JULY
2
LEASED
4
13 Sully Court, Diggers Rest
2
LEASED
6 Brownlow Drive, Point Cook
4
2
2
per week
2
LEASED
4
96 Westmeadows Lane, Truganina
2
2
$600 per week
2
LEASED
462-484 Harkness Road, Melton West
3
1
0
$340
per week
2
2
$410
$460
per week
18 Aspire Street, Tarneit
2
2
per week
per week
$400
LEASED
2
2
$400
$370
per week
16 Heysen Drive, Sunbury
4
15 Wylie Circuit, Burnside Heights
per week
$390
LEASED
LEASED
$400
per week
22 Lambourne Avenue, Truganina
2
per week
$375
LEASED
2
per week
$430
per week
LEASED
$430
per week
per week
2
LEASED
76 Kirkton Drive, Kurunjang
3
2
PAGE 32
2
RELIANCERE.COM.AU
SELECTION OF
Recently Leased $495
$350
per week
LEASED
8 Verdon Avenue, Caroline Springs
3
2
1
LEASED
8 Lambertia Crescent, Wyndham Vale
3
$380
36 Spencer Street, Point Cook
3
2
2
LEASED
6 Esta Street, Melton
4
3
2
1
LEASED
9 Trajectory Drive, Tarneit
4
3
1
2
LEASED
32 Delta Drive, Craigieburn
4
3
2
INSIGHTS REPORT JULY
3
2
2
LEASED
22 Myrtle Street, Werribee
3
LEASED
4/66 Duncans Road, Werribee
2
1
1
2
$550 per week
2
LEASED
32 Gloaming Ride, Kurunjang
5
3
0
$360 per week
2
LEASED
18 Truffle Circuit, Manor Lakes
4
2
2
$380
per week
1
2
per week
$300
per week
Unit 2/33 Saltbush Crescent, Brookfield
2
2
$300
per week
$330
LEASED
4
$40
per week
14-16 Anderson Walk Kensington
17 Fraser Street, Melton South
per week
$650
LEASED
LEASED
$410
per week
86 Chapman Drive, Wyndham Vale
1
per week
$340
LEASED
2
per week
$360
per week
LEASED
$340
per week
per week
1
LEASED
11 Navigation Road, Tarneit
4
2
PAGE 33
2
SUBURB IN THE SPOTLIGHT
RELIANCERE.COM.AU
Point Cook Tourist attractions in Point Cook include Point Cook Homestead, Point Cook Coastal Park and Point Cook RAAF Museum. Tourist attractions neighbouring Point Cook include Werribee Open Range Zoo and Werribee Park Mansion. Point Cook is a great suburb for: + Clean & Ample Greenery + Restruants & Cafes + Parks & Recreation + Schools & Education Point Cook is a highly sought after suburb for potential buyers located in the western suburbs of Melbourne, home to the RAAF Base and RAAF museum, Point Cook is the birthplace of the Royal Australian Air Force.
Who lives in Point Cook? + Families with kids + Retirees + Couples + Singles
Point Cook is certainly a family friendly area made up of housing estates such as Sanctuary Lakes, Lincoln Heath, Saltwater, Willowgreen, Alamanda and Featherbrook, to name a few. Along with the 8 primary schools and 1 senior/secondary school. In 2020 Point Cook South Senior Secondary College is expected to open.
References: CoreLogic, Wikipedia and Homely
With access to a variety of amenities through Stockland Point Cook hosts around 135 specialty stores along with the essentials. The size of Point Cook is approximately 38.9 square kilometres. It has 152 parks covering nearly 18.4%of total area. The population of Point Cook in 2011 was 32,413 people. By 2016 the population was 49,942 showing a population growth of 54.1% in the area during that time. The predominant age group in Point Cook is 3039 years. Households in Point Cook are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Point Cook work in a professional occupation. In 2011, 73.6% of the homes in Point Cook were owner-occupied compared with 67.4% in 2016.
INSIGHTS REPORT JULY
PAGE 34
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 JULY
PAGE 35
RELIANCERE.COM.AU
SELECTION OF
Just Listed $350 per week
3
2
2
$320 per week
3
1
2
$340 per week
3
2
2
$390 per week
4
2
1
$430 per week
4
1
2
$370 per week
3
1
1
$370 per week
3
2
2
$370 per week
3
1
4
$520 per week
4
3
2
$380 per week
4
2
2
$380 per week
4
2
2
$360 per week
4
1
1
$460 per week
4
2
2
$420 per week
4
2
2
$420 per week
4
2
2
13 Medina Drive, Hoppers Crossing
14 Donelly Close, Sunbury
5 Dylan Street, Tarneit
10 Freestone Avenue, Melton South
15 Yarra Gum Road, Manor Lakes
INSIGHTS REPORT JULY
1/29 Meek Street, Werribee
20 Ranfurlie Circuit, Melton West
99 Powell Drive, Hoppers Crossing
32 Rapa Drive, Tarneit
41 Solitude Crescent, Point Cook
9 Craigmore Place, Melton West
30 Vista Drive, Melton
16 Hutchence Drive, Point Cook
4 Falcon Drive, Melton
69 Trevor Crescent, Truganina
PAGE 36
Resources & Forms AT RELIANCERE.COM.AU
RELIANCERE.COM.AU
SALES
Summary 105
TOTAL UNCONDITIONAL SALES IN JULY
$476,022 100+ 4,111 144
AVERAGE SALE PRICE
VIRTUAL INSPECTIONS
BUYER ENQUIRIES
NEW LISTINGS HITTING THE MARKET
INSIGHTS REPORT JULY
PAGE 38
PROPERTY MANAGEMENT
RELIANCERE.COM.AU
Summary 72 9
TOTAL PROPERTIES LEASED IN JULY
LEASED OFF MARKET
$390 84 52
AVERAGE LEASE PRICE PER WEEK
APPLICATIONS PROCESSED
NEW LISTINGS HITTING THE MARKET
INSIGHTS REPORT JULY
PAGE 39
RELIANCE HQ 10/22-30 Wallace Avenue Point Cook VIC 3030 (03) 8372 2018 hq@reliancere.com.au