Insights Report July 2020

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 In the final week of July, Corelogic reported that out of 498 auctions that were scheduled, 209 auctions were either withdrawn from sale or converted to private sale.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

PAGE 5

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

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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

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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

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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

PAGE 17

SUBURB IN THE SPOTLIGHT

RELIANCERE.COM.AU

Sunbury Sunburyâ&#x20AC;&#x2122;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 Melbourneâ&#x20AC;&#x2122;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

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SELECTION OF

Just Listed JUST LISTED

3

2

2

JUST LISTED

4

2

2

JUST LISTED

4

2

2

JUST LISTED

3

1

2

JUST LISTED

3

2

1

JUST LISTED

4

2

2

JUST LISTED

4

2

2

JUST LISTED

3

2

2

JUST LISTED

3

2

2

JUST LISTED

2

2

1

JUST LISTED

4

2

2

JUST LISTED

3

1

1

JUST LISTED

4

2

2

JUST LISTED

4

2

2

JUST LISTED

4

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

4

2

2

JUST LISTED

4

2

2

JUST LISTED

4

2

2

JUST LISTED

4

2

2

JUST LISTED

3

2

2

JUST LISTED

4

2

2

JUST LISTED

3

1

1

JUST LISTED

3

2

2

JUST LISTED

4

3

4

JUST LISTED

4

2

2

JUST LISTED

4

2

2

JUST LISTED

3

1

2

JUST LISTED

3

2

2

JUST LISTED

4

3

2

JUST LISTED

4

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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SALES TEAM

Meet Our

AJ

Aarti Puri

Abhi Elawadhi

Abhishek Parashar

Ajay Nain

Akash Choudhary

Akhil Kansal

Deepak Walia

Dhruv Chaudhary

Divyesh Waghela

Gurmit Singh Aiden

INSIGHTS REPORT JULY

Harry Patel

Donna Carson

Glenda Del Pilar

Inder Vasu

Jd Patel

PAGE 22

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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

INSIGHTS REPORT JULY

Jimmy Gill

PAGE 23

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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 JULY

PAGE 28

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 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