Morrison Kleeman News

NEWS SPRING 2017

CELEBRATING 26 YEARS OF SERVICE IN THE DIAMOND VALLEY The outlook for buying, selling and investing in 2017

SPRING

MARKET REPORT

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ollowing the end of the 2017 financial year, the property market has remained stable with Melbourne houses still achieving impressive results. Now, as the weather warms up, so does the property market, and this quarter we expect to see more impressive auction results and further increases in median house prices.

The latest statistics show Melbourne’s median house price rose once again for the fifth consecutive quarter, going up 2.9% at the end of June. The Greensborough median reached a record

WELCOME TO THE SPRING EDITION OF THE MORRISON KLEEMAN PROPERTY REPORT.

high $815,500, and Eltham North tipped over the $900,000 mark for the first time following a 2.2% increase. Now that we are out of winter, we expect the Diamond Valley will launch into the spring selling period with more great prices and high auction clearance rates.

Following the implementation of the underquoting legislation which came into effect at the beginning of May, the Real Estate Institute of Victoria (REIV) has announced these changes also affect the vendor’s right to object to the disclosure of their home’s sale price.

The legislation requires estate agents to provide a Statement of Information to prospective purchasers, which includes three comparable sales. This means agents may be required to list an undisclosed sale price – regardless of a vendor’s wishes for the sale price to remain undisclosed.

“What this effectively means is that in the future there will be no such thing as an undisclosed residential property sale – removing an important vendor right to object to the disclosure of the sale price,” REIV CEO Gil King says. Withholding sale prices from the REIV and other

databases also affects the accuracy of reported house price medians.

As consistency prevails in the housing market, it does the same in the rental property market. The REIV has reported the vacancy rate across Victoria stands at 2.2% as at the end of the June quarter. At Morrison Kleeman, the vacancy rate for all properties managed by the company is below 1%. The median weekly house rental price has also increased for suburbs in the Diamond Valley, with reports showing the median for ‘middle suburbs’ increased from $430 in May to $450 at the

end of June.

If you’re thinking of getting into the property market, now is as good a time as any. Melbourne is one of the most resilient states in the nation when it comes to buying, selling, renting and investing in property. For the right advice, get in contact with our experienced team. We expect it to be a strong spring quarter at Morrison Kleeman and look forward to what the rest of 2017 holds.

Kind Regards, Graham Morrison

NOTABLE LOCALS PEOPLE AND PLACES OF NOTE IN THE DIAMOND VALLEY

OPTIMAL HEALTH LAB

SOURCE REFERENCE: OPTIMAL HEALTH LAB

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ptimal health is what we all strive for, and Lauren Campbell has recently established the perfect place to help us achieve it. The Optimal Health Lab opened on Main Road Eltham in May this year and offers well rounded Physiotherapy, Psychology, Massage, Podiatry, Clinical Pilates, Personal Training and General Medicine to the Diamond Valley.

With a background in physiotherapy and a passion for sport, Lauren understands the importance for the two to go hand in hand. “I wanted to bring the best of scientific sports and rehabilitative medicine to my home town of Eltham,” Lauren says.

Although her vision for the business has been sport focused, the facilities at Optimal Health Lab offer the best physiotherapy and rehabilitation to all body types and needs. The clinic is designed as a one stop shop where experts in a range of professions work together to provide a holistic approach to a healthy mind, body and soul. The ‘family friendly’ nature of the clinic means while you are in treatment, your little ones can play, eat or read on the mats in the studio safely and under supervision.

The Strength Lab within the facility is a studio for clinical pilates - an effective exercise regime proven to successfully rehabilitate injuries or pain, and also to prevent further injuries. The 10 machines in the studio can also simply be used for

an effective workout in a safe, fun and challenging environment.

Having grown up in the area, Lauren has been involved with a range of local sporting teams, many of whom currently work with the Optimal Health Lab. The physiotherapy and massage team are working with the Diamond Creek Women’s Football Club this year, and have previously provided game-day care to the Montmorency Football Club, Lower Plenty Football Club, Warrandyte Football Club and Old Eltham Collegians Football Club.

Since opening, Lauren has been overwhelmed by the support from the community. “I think people love the idea of a woman having the courage to start up her own business and own the dreams she has had,” she says.

HOHNES ROAD PLAYHOUSE

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re you planning to move to the area or have just moved? Would you like to meet other like minded parents? Hohnes Road Playhouse offers a fresh approach to playgroups and child care in the heart of leafy Eltham. The Playhouse welcomes you to come with your young ones and connect with other local families in a relaxed and friendly environment. It is the perfect gathering place for parents and children alike. Each week there are two sessions where mums and dads are invited to attend and bond over a cup of tea/coffee, share the challenges of parenthood, build support networks and develop friendships. Outside these designated hours, you can comfortably leave your little ones in the care of qualified child care, who provide the utmost supervision in the spacious facilities.

FONDATA 1872

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SOURCE REFERENCE:

he iconic Weller’s Restaurant and Hotel in Kangaroo Ground has been reborn with a new name and identity. Fondata 1872 has transformed the historic space and recreated it as a fresh, contemporary restaurant with an Italian flair. The idea was to go back to the beginning and retain the charming and endearing attributes that Weller’s has held for so many years. The name, ‘Fondata 1872’ is a Italian translation meaning ‘founded 1872’ - the year Weller’s first opened its doors for business.

Well regarded restaurateur Joe Vargetto is the executive chef and part of the management team behind Fondata 1872. Known for his other two successful restaurant ventures - Mister Bianco in Kew and Massi in the CBD, Vargetto has teamed up with Camm Whiteoak, Chris Illico and Dani Venn to give the heritage listed building a new start.

“We feel as if we are custodians of a special venue which has been around for far longer than we have. We have a deep respect for it’s history and the past, and have set about creating a restaurant, bar and event space where members of the community can create long lasting memories,” Dani says.

Fondata 1872 - ‘the menu is inspire by the fresh and authentic flavours of Italy, with dishes INFLUENCED by the changing seasons and their differing produce. The ‘Small Bites’ menu features a range of traditional cured meats and antipasti, and main meals include fresh pastas and a changing selection of meat dishes. Complementing the menu is a selection of fine FONDATA 1872 wines from the Yarra Valley region, all of which are also on offer in the designated 1872 Wine Bar. “Think Mac Forbes and Dominique Portet,” Dani says. The executive team also has an aspiration to champion small wineries in the near future by adding some of the Artisan Hills winemakers to the current wine list.

Fondata 1872 officially opened in April this year, allaying fears from the local community the historic building would be divided and sold to developers.

“Many of our staff are local to the area and the owners are also locals who wanted to bring back their favourite venue for everyone to enjoy,” Dani says. Open Wednesday - Sunday from 12pm, enjoy fresh Italian delicacies and fine local wines with family and friends at your renewed local favourite.

WHAT’S ON IN

THE DIAMOND VALLEY

A SELECTION OF THE MANY WONDERFUL EVENTS RUNNING IN THE LOCAL AREA OVER THE COMING WEEKS.

SOURCE REFERENCE: LEANNE ROBSON OF DIAMOND VALLEY PHOTOGRAPHIC SOCIETY

SOURCE REFERENCE: LEANNE

NILLUMBIK PET EXPO

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et lovers unite this October at the Marngrook Diamond Creek Oval for the annual Nillumbik

Pet Expo. This year, pet owners are invited to spend a day out with their furry friends and enjoy the attractions and events organised by the Nillumbik Council. There will be many activities on the day for every member of the family, including dog obedience displays and pet competitions. You can also get hands on in the animal nursery, or test your courage at the snake handling display. Local rangers and vets from the Nillumbik Council will be attending on the day to answer any questions you might have about your own furry friend, or any of the shire’s many wonderful native animals.

SOURCE REFERENCE: NILLUMBIK PET EXPO

LOCATION MARNGROOK OVAL, 28 HURSTBRIDGE ROAD, DIAMOND CREEK DATE & TIME 29 OCTOBER 2017, 10AM-4PM COST FREE

LOCATION ELTHAM TOWN SQUARE, MAIN ROAD, ELTHAM DATE & TIME SATURDAY 11TH NOVEMBER 12PM-9.30PM & SUNDAY 12TH NOVEMBER 9AM-5PM COST FREE

ELTHAM FESTIVAL

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very November the Eltham Town is injected with festive spirit and taken over by music and entertainment. The Rotary Town Fair is running for the 17th year in a row, this year over the weekend of Saturday the 11th and Sunday the 12th November. Get set for two days of food and fun with friends, family and neighbours in the heart of our community. As usual, there will be an array of culinary delights on offer, and the annual fireworks display is set to explode each night with support and sponsorship from Morrison Kleeman Estate Agents. There are new and exciting attractions at this year’s festival including a double decker bus that will transport festival-goers from the Eltham Town to the Diamond Valley Miniature Railway, a mobile farm that Farmer Darryl will bring to the Town Square, and a range of games and activities for young children at the Yarra Plenty Library. Round up your family and friends and celebrate all that is good about our local community and celebrate all that is great about our local community.

LEANNE ROBSON OF DIAMOND VALLEY PHOTOGRAPHIC SOCIETY

SOURCE REFERENCE: ELTHAM FESTIVAL

SOURCE REFERENCE: ON THE HILL FESTIVAL

ON THE HILL FESTIVAL

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he On The Hill Festival brings together the people of Panton Hill for a day of activities, culture, music and fabulous food for the whole family. The festival is now in its thirteenth year, and as always promises enjoyment for all. Each year, a feature of the

day is the ‘Made on The Hill’ section of the festival celebrating locally created crafts, writing, food and produce. The theme for this year’s market is ‘things that fly.’ Market entries are welcome from anyone connected to Panton Hill or surrounds in primary, secondary and open age groups.

LOCATION FIREFIGHTERS MEMORIAL PARK, MAIN ROAD, PANTON HILL DATE & TIME SUNDAY 22ND OCTOBER 11AM-6PM COST FREE

RECENT SALES A SELECTION OF SOLD PROPERTIES

5 Grand Boulevard, Montmorency $860,000

11 Louis Buvelot Wynd, Diamond Creek $1,351,750

15 Carnon Street, Greensborough $895,000

25 Leane Drive, Eltham $977,500

6 Grove Street, Eltham $975,000

11 Hartland Way, Eltham $880,000

19 Roaming Road, Doreen $825,000

28 Acheron Crescent, Eltham North $937,550

44 Lavender Park Road, Eltham South $1,365,000

62A Cressy Street, Montmorency $931,948

17 Nokuna Court, Greensborough $730,000

16/9-13 Devonshire Road, Watsonia $568,888

1/3 Campbell Road, Briar Hill $637,000

14 Wolangi Court, Greensborough $1,028,000

1 Rotin Court, Plenty Undisclosed

3/140-144 Watsonia Road, Watsonia $600,000

MORRISON KLEEMAN

PROPERTY MANAGEMENT Our exceptional team of property managers incessantly provide the most responsive and dynamic service in the Diamond Valley

6 Reasons Why Property Investment is More Popular Than Ever 1. Supply and demand

The value of any given commodity is subject to the law of supply and demand. The fact is Australia’s population is growing and our land is not.

2.

You have greater control over managing your investment when you invest in a property, you are in charge of the asset. You can do things to affect the properties ongoing capital growth potential, like keeping it in good repair and renovating/updating.

3. You can easily assess capital growth potential and invest accordingly

Property investment comes after much research. You can quite easily access reports and statistics to make an informed choice to invest in suburbs/areas with the most capital growth potential.

Contact us now to discuss your needs.

Call 1800 AQUAFS (278 237)

The Best Rates On Property Finance Hands Down!

4. You can access the equity to continue growing your wealth

You can access any capital gains on your investment property by refinancing, without being liable to pay tax until you actually sell the property. This can enable you to continue growing your wealth by reinvesting this money elsewhere, or in more property.

5. The opportunity to diversify your portfolio

It is unsafe to put all your eggs in one basket when it comes to investing. Within property you can invest in a variety of locations and property types such as vacant land, apartments, units, houses, rural or perhaps commercial properties.

6. You can take advantage of tax breaks and super

Property investment is supported by a variety of tax breaks and government incentives to help you grow your wealth.

Finance Market Wrap The Reserve Bank of Australia (RBA) has elected to keep the cash rate on hold at 1.5% once again. These low interest rates have remained the same since August 2016. However, there has been plenty of movement on interest rates from lenders. In June, the big four banks announced increases in rates on interest-only loans, and cuts to interest rates for owner-occupiers on principal and interest loans. With so much movement on rates, now is a great time to get a loan health check and review your mortgage and future plans. We’ll compare the market and make sure your loan meets your financial needs and goals.

MEET

SOME OF OUR PEOPLE What got you started in the real estate industry?

I was looking for a change of career. I had been a teacher and a restaurateur, and I wanted a new challenge.

What has been a highlight moment in your career?

A definite highlight for me was when I sold a first home to a young man that I had taught when he was just four years old.

Which house has been your favourite to sell and why?

I am always excited to sell architect designed and mud brick homes.

They are a joy to live in and a joy to sell.

GAYLE BLACKWOOD

LICENSED ESTATE AGENT 0408 776 070 gblackwood@morrisonkleeman.com.au

What advice would you give to young women starting out in the industry?

I would encourage women of all ages into the real estate profession.

It offers women the opportunity to work in different aspects of the industry; from reception, sales support, property management and sales.

What is your favourite part about working in real estate?

I love working with people and constantly being able to meet new people. My favourite thing is helping people to achieve their property goals, whether that be selling a home or buying their dream house.

What are your hobbies outside of work?

I love doing things around the house such as gardening or working on maintenance and upgrades. I have a passion for renovating and ‘doing up’ houses. I also get to the gym as much as I can.

In your opinion, where can you get the best coffee in Eltham?

We really are spoilt for choice in Eltham! There are a lot of great cafes and eateries, but in my opinion The Main has the best coffee.

SASA BUNCIC

SALES CONSULTANT 0413 826 847 sbuncic@morrisonkleeman.com.au

Can you describe a day in the life of a property manager?

The day can’t begin without a barista made coffee! I check my emails and return any calls, follow up trades and clients regarding maintenance works or lease enquiries. I’ll take a short lunch, then conduct routine and open inspections for the rest of the afternoon.

How long have you been a part of the Morrison Kleeman team?

I have been with the company for almost 8 years! The culture here has been what has kept me around along with getting to work in gorgeous surrounds with great people and great properties. The staff at Morrison Kleeman make up a second family for me, and I’ve been lucky enough to be a part of the evolution, it was especially exciting to see us graduate from the old office on Main Road to our new flagship Eltham office.

MELISSA DI BIASE

PROPERTY MANAGER mdibiase@morrisonkleeman.com.au

How would you describe your dream home?

My dream home would be a sprawling single storey home on an acre. It’d have an open fireplace, large outdoor entertaining area, open plan kitchen, polished boards and large walk in robes. I wouldn’t mind a pool also!

Editorial by : Ellee Pitman Cover image : Shutterstock Town Square, 20 Commercial Place ELTHAM VIC 3095 Phone 9431 2444 Fax 9431 2650 2/86 Grimshaw Street GREENSBOROUGH VIC 3088 Phone 9435 7666 Fax 9435 7677 3/101 Hazel Glen Drive DOREEN VIC 3754 Phone 9717 8780 Fax 9717 8816

morrisonkleeman.com.au Copyright Morrison Kleeman – Views expressed by contributors in this publication are not necessarily endorsed by Morrison Kleeman. No responsibility is accepted by Morrison Kleeman or the editor for the accuracy of the information contained in the text and/or the advertisements. The information contained within is general in nature only and should not be relied upon. Specific professional advice should be sought if the reader intends to consider the information provided further. No reproduction or transmission is permitted without the prior written permission of Morrison Kleeman. If your property is exclusively listed with another agent, please disregard this communication.