MAY
Insights
reliancere.com.au
TABLE OF
Contents
2 4
WELCOME A message from the CEO Sunil Kumar
ARTICLES Featured articles from the month of March
8
SALES SUMMARY
20
RENTALS ACTIVITY
28
SUMMARY
Featured Sold and On Market listings
Featured Leased and On Market listings
A quick summary of the month
SUNIL KUMAR
CEO/Founder We are back! After months of uncertainty, it is such a wonderful and positive experience to see restrictions easing, which is continuing to show very positive signs the business and the market in general. Australia has done exceptionally well in managing the virus, with our expected self isolation time down from six months to two.
As of the 1st of June, the attendees at opens and auctions have increased to a 20 person limit, our agents will still be pre-screening attendees and having extended open times so everyone has plenty of time to roam the house safely. In the past two weeks since to open for inspections recommended we have held a total of 395 opens, with 425 buyers attending. It is appearing as if the market has almost had an immediate return.
Although we are thrilled to have our agents back in the field, we understand that not all businesses are out of the dark just yet. That is why our team is continuing to promote and celebrate local businesses through our website and social media channels to hope generate more business and awareness for fellow local businesses. Also with the restrictions easing, we hope to recommence our web series, ‘Meet the Locals’.
Not only did we have a great month in business, we also got to celebrate our ninth anniversary. Together (virtually) all the team gathered and celebrated this milestone. Although there was no birthday party this year, we will look forward to celebrating the next anniversary in even bigger fashion.
Stay Safe,
Sunil Kumar CEO/Founder
FEATURED IN MAY
Articles
FEATURED IN MAY
RELIANCERE.COM.AU
Articles
Registering your home swimming pool or spa Do you have a swimming pool or spa at your home or investment property? On the 1st of December 2019, new pool safety standards were announced by the Victoria Government which is set to come into effect on June 1st 2020. The Andrews Labor Government has introduced new mandatory safety regulations for private pools and spas in a bid to reduce the incidence of drownings among young children. The majority of drowning deaths of children under five happen in home swimming pools. In Victoria alone, there have been 27 fatal drownings in private swimming pools and spas over the last 19 years. In response to a series of investigations which saw faulty and unsafe pool barriers result in the deaths of children in backyard swimming pools, the new regulations will now require all pool and spa owners to register their pool or spa with their local council. Once the pool or spa is registered, a building inspector must determine whether its barrier complies with safety requirements. If the pool or spa barrier is not compliant, owners must fix it or install a new barrier. When a building inspector is satisfied the pool or spa barrier is compliant, they will issue a Certificate of Barrier Compliance, which owners must lodge with Council. Pool and spa owners are required to obtain and lodge Certificates of Barrier Compliance every four years. Your property manager will request this documentation and will remind you when it is due to renew. All swimming pools and spas must be registered by the 1st of June 2020. To register please visit your local council website to submit your application. Wyndham City Council: https://bit.ly/2yoerJv Melton Council: https://bit.ly/2WlCErX Hume Council: https://bit.ly/3aXJ85r Brimbank Council: https://bit.ly/3de6Vjb Hobsons Bay Council: https://bit.ly/2W157EA Macedon Ranges Council: https://bit.ly/3b72Yvm For more information, please visit the Victoria Building Authority’s website: https://www.vba.vic.gov.au/consumers/swimming-pools/
INSIGHTS REPORT MAY
PAGE 5
FEATURED IN MAY
RELIANCERE.COM.AU
Articles
Top Tax Time Tips for Property Investors It is that time of the year again, to get all your documents prepared and ready for your accountant to lodge your annual income tax return. Here are a few of our top tax tips to ensure you’re all ready. Tip #1: Understanding what you can and can’t claim. The simplest way to maximise your tax refund is to have an understanding of what is and isn’t deductable, and more importantly keeping a clear and concise record of these expenses. • Rental Advertising Costs • Loan Interest • Council and Water Rates • Land Tax • Strata Fee’s • Building Depreciation* • Appliance Depreciation • Repairs and Maintenance • Pest Control • Renovations or improvements on the property* **Some of these items are not eligible for an outright tax deduction but may be depreciated over a period of time. Tip #2: Get the claims correct with your new investment property. Have you purchased a new investment property this financial year? Our biggest tip is getting everything in order and correct from the start to ensure you are organised for tax time. Provide your accountant with the following documentation: Purchase settlement statement The loan documentation, including loan establishment fees. Copy of depreciation schedule. Even an older property may have depreciation benefits available when you initially purchase it as many of the items inside the property are valued at market value on the date of purchase for depreciation purposes. Tip #3: Interstate Investors if you have an investment property in other states or regions, you can also claim the travelling costs to inspect your property (ensure you apportion any personal component). These At Reliance Real Estate, we believe in providing our landlords and investors a seamless end of financial year. Choose Reliance Property Management to handling all the accounting for your property meaning on July 1st you will have access to all your yearly reporting and invoices in one place. We can also assist in arranging depreciation reports with certified suppliers. Disclaimer: All information is general in nature and it is advised you speak to a licensed accountant or wealth manager to evaluate your specific needs.
INSIGHTS REPORT MAY
PAGE 6
FEATURED IN MAY
RELIANCERE.COM.AU
Articles
Lifted restrictions on Victorian real estate The Victorian Government has announced that as of Wednesday (13th of May) the restrictions on Inspections and Auctions have now eased. This will help all our clients looking to make a move to their next property.
Open for Inspection Reliance is backing showing homes publically, but we will only be allowing a maximum of ten attendees through the property at any viewing. Upon entry, every attendee will have to provide their contact details; if this is withheld unfortunately you will not be allowed to enter. This is for everyone’s safety, we will hand these details over to the government if they requested to track people who may have been exposed to someone with COVID-19. Our agents will be sanitiser available at the entry of the property*, and all attendees will be advised not to touch any surfaces in the home. Inside the home, people will be asked to maintain a distance of at least 1.5 metres from each other as well as observing the rule that there should be no more than one person per 4 square metres.
Auction Our Auctions will have an attendee limit of 10 people, not including those required to facilitate the auction such as agents and vendors. The auction will be conducted outside of the property and the social distancing rules will apply. All attendees contact details will be taken upon attending the auction, and depending on the interest for the property we may restrict the auction to pre-registered buyers only. If there are more than 10 potential bidders then we will help the additional people bid – either using an online auction platform or by being on the phone to one of our agents – from a distance.
INSIGHTS REPORT MAY
PAGE 7
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 MAY
PAGE 7
FEATURED IN MAY
Sales
IN MAY
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 MAY
300K 500K 800K 1M
PAGE 10
LAND LOTS
RELIANCERE.COM.AU
Recently Sold No.
Address
Land size
Date
Price
1
Lot 21, 140 Kenning Road, Tarneit
420m2
6/5/2020
$340,000
2
5 Godfrey Ridge, Maddingley
632m2
8/5/2020
$290,000
3
Lot 36, 140 Kenning Road, Tarneit
497m2
8/5/2020
$390,000
4
62 Frontier Avenue, Aintree
435m2
18/5/2020
$350,000
5
17 Wimbledon Boulevard, Melton South
447m2
18/5/2020
$540,000
6
10 Prominent Road, Diggers Rest
420m2
19/5/2020
$315,000
7
70 Wingfield Drive, Thornhill Park
540m2
20/5/2020
$325,000
8
66 Wingfield Drive, Thornhill Park
540m2
20/5/2020
$325,000
9
3 Explorer Crescent, Diggers Rest
678m2
25/5/2020
$362,000
10
41 Arena Circuit, Melton South
435m2
30/5/2020
$247,500
LAND LOTS
Just Listed No.
Address
Land size
Sale
Price
1
Lot 1312, Karas Street, Truganina
384m2
Available
Contact Agent
2
32 Alstonville Avenue, Truganina
448m2
Available
Contact Agent
3
16 Bishopsgate Avenue, Tarneit
420m2
Available
Contact Agent
4
17 Mccormack Crescent Hoppers Crossing
320m2
Available
Contact Agent
INSIGHTS REPORT MAY
PAGE 11
SELECTION OF
RELIANCERE.COM.AU
Recently Sold SOLD for $470,000
4
2
2
SOLD for $480,000
3
2
2
SOLD for $505,000
3
2
2
SOLD for $480,000
4
2
2
SOLD for $530,000
4
2
2
SOLD for $635,000
4
2
2
SOLD for $643,500
4
2
2
SOLD for $365,000
3
2
4
SOLD for $530,000
3
2
0
SOLD for $710,000
5
2
2
12 Stoneford Chase, Melton South
23 Tristania Drive, Point Cook
6 Cherington Place, Melton South
49 Gamalite Drive, Harkness
26 Hampstead Drive, Hoppers Crossing
INSIGHTS REPORT MAY
13 Vetiver Avenue, Truganina
21 Olympic Circuit, Melton South
135 Penrose Promenade, Tarneit
13 Wills Road, Melton South
45 Latitude Promenade, Truganina
SOLD for $475,000
4
2
2
SOLD for $600,000
4
2
2
SOLD for $600,000
5
2
2
SOLD for $635,000
5
3
2
SOLD for $635,000
3
2
1
3 Sheepfold Court, Melton West
16 Diamantina Way, Melton South
27 Granholm Grove, Harkness
1 Melville Street, Tarneit
2 Norbury Lane, Caroline Springs
PAGE 12
SELECTION OF
RELIANCERE.COM.AU
Recently Sold SOLD for $700,000
4
2
2
SOLD for $305,000
4
2
2
SOLD for $610,000
5
2
4
SOLD for $480,000
2
2
4
SOLD for $478,000
3
2
1
SOLD for $599,000
4
2
2
SOLD for $559,000
5
2
2
SOLD for $365,000
3
2
2
SOLD for $555,000
4
2
2
SOLD for $600,000
4
2
2
13 Papillon Parade, Tarneit
61 Wildflower Cres, Hoppers Crossing
1/10 Yale Court, Truganina
3 Cardigan Close, Melton South
13 Wonnangatta Crescent, Melton South
INSIGHTS REPORT MAY
18 Hornbuckle Crescent, Melton
26 Pykes View Road, Myrniong
17 Spearys Road, Diggers Rest
4 Agnes Court, Kurunjang
19 McDougall Place, Truganina
SOLD for $447,500
3
2
1
SOLD for $525,000
3
1
2
SOLD for $540,000
3
1
1
SOLD for $635,000
4
3
2
SOLD for $720,000
4
2
2
7 Hardware Lane, Point Cook
39 Priestley Avenue, Hoppers Crossing
32 Huntingfield Drive, Hoppers Crossing
42 Barmera Way, Truganina
76 Phillip Drive, Sunbury
PAGE 13
SELECTION OF
RELIANCERE.COM.AU
Just Listed JUST LISTED
3
2
1
JUST LISTED
3
2
2
JUST LISTED
3
1
1
JUST LISTED
4
2
2
JUST LISTED
3
2
2
JUST LISTED
3
1
1
JUST LISTED
4
2
2
JUST LISTED
5
2
2
JUST LISTED
4
2
2
JUST LISTED
4
2
2
JUST LISTED
4
2
2
JUST LISTED
4
2
4
JUST LISTED
3
2
2
JUST LISTED
4
1
0
JUST LISTED
4
2
2
7 Latimer Street, Wyndham Vale
11 Yandee Court, Truganina
22 Regal Road, Point Cook
37 Turpentine Road, Brookfield
11 Cropley Court, Werribee
INSIGHTS REPORT MAY
13 Peterpan Place, Bacchus Marsh
4/51-55 Tullidge Street, Melton
5 Fiddlewood Turn, Harkness
61 Dobell Avenue, Sunbury
6 Oldershaw Road, Melton
32 Huntingfield Drive, Hoppers Crossing
45 Bunbury Street, Footscray
12 Gelston Street, Truganina
117 Powell Drive, Hoppers Crossing
25 Budburst Drive, Sunbury
PAGE 14
SELECTION OF
RELIANCERE.COM.AU
Just Listed JUST LISTED
4
2
2
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
4
JUST LISTED
4
2
2
JUST LISTED
4
2
2
JUST LISTED
4
2
2
JUST LISTED
4
2
4
JUST LISTED
5
2
2
JUST LISTED
4
2
2
JUST LISTED
4
2
4
JUST LISTED
3
1
2
42 Lofty Road, Tarneit
55 Hawkstone Road, Manor Lakes
269 Swans Road, Darley
69 Vaughan Chase, Wyndham Vale
27 Bateman Drive, Harkness
INSIGHTS REPORT MAY
3 Hakea Close, Maddingley
75 Wimbledon Boulevard, Melton South
35 Becontree Crescent, Strathtulloh
174 Gap Road, Sunbury
81 Rose Grange Boulevard, Tarneit
3 Blueleaf Place, Brookfield
19 Darlingsford Boulevard, Melton
13 Wickham Street, Wyndham Vale
6 Corbet Street, Melton South
3 Chelmsford Way, Melton West
PAGE 15
RELIANCERE.COM.AU
SALES TEAM
Meet Our
AJ
Aarti Puri
Abhi Elawadhi
Abishek Parashar
Ajay Nain
Akash Choudhary
Akhil Kansal
Akhil Kansal
Donna Carson
Glenda Del Pilar
Inder Vasu
Jd Patel
Dhruv Chaudhary
Divyesh Waghela
Gurmit Singh Aiden
INSIGHTS REPORT MAY
Harry Patel
PAGE 16
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
INSIGHTS REPORT MAY
Jimmy Gill
PAGE 17
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 MAY
PAGE 18
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
Vishal Malik
Vee Sharma
Yash Sethi
INSIGHTS REPORT MAY
PAGE 19
FEATURED IN MAY
Rentals
RELIANCERE.COM.AU
PROPERTY MANAGEMENT TEAM
Meet Our
Ashlee Sciberras
Bansari Raval
Matthew Buller
Nikki Kaur
Pawan Braich
Tyra Suemai
Sanchit Walia
Samantha Grima
Deepthi Yedla
Isha Monga
Rahul Mandhan
Serene Lai
Vita Wibianty
INSIGHTS REPORT APRIL
PAGE 21
IN MAY
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 MAY
15
20
5
10
15
20
5
10
15
20
5
10
15
20
PAGE 22
RELIANCERE.COM.AU
IN MAY
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 MAY
$300 $350 $400 $450
PAGE 23
SELECTION OF
RELIANCERE.COM.AU
Recently Leased $300
$360
per week
LEASED
100 Bellbridge Drive, Hoppers Crossing
4
2
2
LEASED
6 Brooksby Circuit, Harkness
4
$375
22 Avonmore Way, Weir Views
4
2
2
LEASED
4 Furlong Street, Tarneit
3
3
1
2
LEASED
46 Peter Pan Crescent, Kurunjang
5
4
2
2
LEASED
123 Isabella Way, TARNEIT
3
3
2
INSIGHTS REPORT MAY
3
2
2
LEASED
8 Chardia Court, Brookfield
3
LEASED
43 Mapleton Boulevard, Melton South
4
2
2
2
$350 per week
2
LEASED
5 Mundi Crescent, Manor Lakes
4
2
2
$390 per week
1
LEASED
25 Crawley Rise, Werribee
4
2
2
$365
per week
1
2
per week
$340
per week
3/1 Beaurepaire Drive, Point Cook
2
2
$380
per week
$365
LEASED
4
$395
per week
18 Voisin Drive, Diggers Rest
25 Brooksby Circuit, Harkness
per week
$450
LEASED
LEASED
$410
per week
1 Monteath Crescent, Hoppers Crossing
2
per week
$355
LEASED
2
per week
$380
per week
LEASED
$360
per week
per week
2
LEASED
7 Bursa Drive, Wyndham Vale
4
PAGE 24
2
2
SELECTION OF
RELIANCERE.COM.AU
Recently Leased $350
$350
per week
LEASED
16 Goulburn Court, Werribee
3
2
4
LEASED
35 Gillespie Drive, Melton South
4
$370
26 Gelati Street, Manor Lakes
4
2
2
LEASED
30 Banker Street, Kurunjang
5
4
2
2
LEASED
17 Guidance Way, Tarneit
3
4
2
2
LEASED
4 Migdale Road, Truganina
5
3
2
INSIGHTS REPORT MAY
2
LEASED
3
38 Gala Avenue, Wyndham Vale
3
LEASED
14 Spirit Avenue, Point Cook
4
2
2
per week
2
LEASED
20 Maryborough Drive, Wyndham Vale
3
2
2
$350 per week
2
LEASED
18 Broadwater Street, Manor Lakes
3
2
2
$400
per week
2
2
$350
$480
per week
3 Burdekin Street, Manor Lakes
2
1
per week
per week
$350
LEASED
2
2
$350
$420
per week
28 Dorset Grove, Truganina
3
7 Splendour Circuit, Diggers Rest
per week
$425
LEASED
LEASED
$370
per week
20 Linacre Crescent, Melton South
2
per week
$360
LEASED
2
per week
$410
per week
LEASED
$380
per week
per week
2
LEASED
8 Clearwood Drive, Truganina
4
2
PAGE 25
2
SELECTION OF
RELIANCERE.COM.AU
Recently Leased $315
$370
per week
LEASED
1/15 Odessa Court, Werribee
3
2
1
LEASED
19 Mercer Lane, Point Cook
3
$285
1/23-25 Baggott Drive, Hoppers Crossing
2
1
0
LEASED
71 Parramatta Road, Werribee
5
3
2
1
LEASED
46 Carramar Drive, Harkness
3
3
1
1
LEASED
107 Manor Lakes Bvd, Wyndham Vale
4
3
2
INSIGHTS REPORT MAY
2
2
2
LEASED
3 Bursill Court, Wyndham Vale
3
LEASED
14 Chard Place, Sunbury
4
2
2
2
$450 per week
2
LEASED
29 Caro Way, Fraser Rise
4
3
1
$330 per week
2
LEASED
17/3 Austin Place, Melton South
4
2
1
$400
per week
1
2
per week
$385
per week
1/7 Craig Close, Truganina
2
1
$350
per week
$370
LEASED
3
$390
per week
206 Gap Road, Sunbury
1/753 Elizabeth Drive, Sunbury
per week
$380
LEASED
LEASED
$350
per week
21 Belvedere Drive, Truganina
1
per week
$380
LEASED
2
per week
$440
per week
LEASED
$360
per week
per week
2
LEASED
47 Vanburn Road, Truganina
4
2
PAGE 26
2
SELECTION OF
RELIANCERE.COM.AU
Just Listed $400 per week
4
1
3
$320 per week
2
1
1
$330 per week
3
1
2
$400 per week
4
2
2
$390 per week
4
2
2
$340 per week
4
3
2
$380 per week
5
2
2
$410 per week
4
2
2
$395 per week
3
2
1
$430 per week
4
2
2
$510 per week
5
2
2
$330 per week
3
1
2
$460 per week
4
3
2
$360 per week
4
2
2
$550 per week
4
3
4
65 Westmelton Drive, Melton West
5 Duchess Court, Point Cook
37 Westmelton Drive, Melton West
9 Landy Court, Burnside
15 Hutchence Drive, Point Cook
INSIGHTS REPORT MAY
4/66 Duncans Road, Werribee
71 Bangalay Drive, Brookfield
26 Turva Avenue, Tarneit
45 Bliss Street, Point Cook
22 Augusta Way, Strathtulloh
14 Exell Avenue, Melton South
16 Cornubia Road, Manor Lakes
8 Verdon Avenue, Caroline Springs
8 Balliol Common, Sunbury
1504 Kilmore Road, Bolinda
PAGE 27
SALES
RELIANCERE.COM.AU
Summary 62
TOTAL UNCONDITIONAL SALES IN MAY
$642,201 $53M 89 86
AVERAGE SALE PRICE
VALUE OF SOLD PROPERTIES
EXPERIENCED TEAM MEMBERS
NEW LISTINGS HITTING THE MARKET
INSIGHTS REPORT MAY
PAGE 28
PROPERTY MANAGEMENT
RELIANCERE.COM.AU
Summary 49 65
TOTAL PROPERTIES LEASED IN MAY
APPLICATIONS PROCESSED
$370 13 56
AVERAGE LEASE PRICE PER WEEK
EXPERIENCED TEAM MEMBERS
NEW LISTINGS HITTING THE MARKET
INSIGHTS REPORT MAY
PAGE 29
RELIANCE HQ 10/22-30 Wallace Avenue Point Cook VIC 3030 (03) 8372 2018 hq@reliancere.com.au