Morrison Kleeman News

NEWS WINTER 2016

CELEBRATING 25 YEARS OF SERVICE IN THE DIAMOND VALLEY The outlook for buying, selling and investing in 2016

WINTER

MARKET REPORT

F

ollowing a record setting autumn, we are welcoming winter at Morrison Kleeman with exciting new listings in a continuing strong market.

There has been no slow down in sales momentum so far this year with more auction bonanza in the last quarter.

The weekend of the 19th and 20th March 2016 was the third highest auction weekend in history, with 1,667 auctions held. This weekend also marked the highest sale weekend ever in Victoria, where 1,230 properties sold including both auctions and private

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

sales. At Morrison Kleeman, as at 9th April 2016, all properties that have gone to auction have a high clearance rate average of 91%.

Statistics from the March quarter show further increases in house prices, sales figures and buyer demand. Domain has reported that once again house prices across Melbourne have hit a record high, sitting at a median house price of $726,962.

Doreen has been a standout suburb in 2016. The Real Estate Institute of Victoria (REIV) has reported that it

was one of the highest growth suburbs in Melbourne over the last quarter.

A median house price of $511,000 was achieved in the March quarter, a staggering 7.6% increase from the previous quarter. Downey Drive has been a top selling street in Doreen, after Morrison Kleeman sold two homes that broke price records. 68 Downey Drive achieved a sale price of $1,580,000 – the highest ever in Doreen, while 55 Downey Drive sold for $940,000 – the highest price for a three bedroom home in Doreen. Due to continuous growth and popularity in

requires estate agents provide buyers with a fact sheet that includes comparable sales for the property, the median house price for the suburb, and a selling range of no more than 10%. Mr Enzo Raimondo, CEO of the REIV stated that “the changes will provide consistency in pricing of property and the information provided to both vendors and buyers.”

As usual, the rental market has remained consistent with no change in the average rental price in the Diamond Valley over the last quarter. It is good news for investors and prospective tenants signifying a steady rental market. With fantastic capital growth and a vacancy rate that is next to none, the Diamond Valley is a prime place to invest in property.

We are looking forward to a very promising winter quarter at Morrison Kleeman. As the weather cools down, the property market stays strong, and we expect current market trends to continue. If you’re thinking of selling, or if you’re interested in finding out the current value of your home, please call our experienced team today. We welcome all local real estate enquiries and would love to assist you with your current real estate needs.

Kind Regards, Peter Kleeman.

Doreen, Morrison Kleeman is excited to announce the extension of the office in Hazel Glen Drive, to keep up with this demand.

Buyer demand has remained consistent all year, and with the latest interest rate cuts, which have lowered the RBA cash rate by 25 basis points to a record low 1.75%, a further boost is expected in buyer confidence. This has translated into a faster, less stressful sales process for vendors with throngs of buyers offering, bidding, and ready to buy. According to the REIV, at the end of April the average days on market

across Melbourne had dropped to a low 36 days. More specifically, Eltham, Montmorency and Watsonia all have an average number of days on market of 30, while Greensborough Diamond Creek, Eltham North and Lower Plenty all sit between 23-28 average days.

The State Government of Victoria has made proposed changes to the Estate Agents Act, which will come into affect later in 2016. The changes are targeted at estimated selling price range, and are proposed to bring transparency and consistency to buying and selling property in Victoria. The legislation

NOTABLE LOCALS PEOPLE AND PLACES OF NOTE IN THE DIAMOND VALLEY

REG COX

T

he cover image is a painting created by local artist Reg Cox, and is his expression of “the start of another day.” Reg is known for his beautifully “erratic” watercolour artwork, as well as his delightfully quirky and poignant sketches. Now in his 70’s, he continues to create artwork from his Eltham home studio. He is inspired by his surroundings and the natural beauty of the Diamond Valley.

After a long career in advertising, Reg began painting as an outlet. He describes his artwork as “a form of therapy.” Reg lost his ability to walk due to illness, and now uses his motorised scooter as his mobile easel. “I venture through town, and I paint and draw what’s happening. I am recording the renaissance and history of Eltham Town” he said.

Reg works with a unique technique. He uses a self-designed fan shaped brush that has unlocked his ability to become more expressive and creative with his work.

His technique involves the blending of colours on a palette, the addition of water, and several brushstroke styles, which when combined create beautiful images that are only limited by the imagination.

Notably, his talents are displayed in a wide range of settings. Reg has been known for creating images for corporations, including Westfield, The Epworth and Austin Hospitals, and Australia Post.

More recently, Reg has designed custom artwork for local businesses. You can view some of his latest work at Chicken on Charcoal at Bolton Street.

With a brush in hand and a smile, Reg concluded, “whatever I create, I know it will be the only one in the world. That’s what I love about art, you never know what you’re capable of… No one does really.”

SOURCE REFERENCE: AMANDA MCGIBBON

THE GREENSBOROUGH PROJECT

T

he centre of Greensborough is a hive of activity, with new retail and office buildings just finished, and a new medical facility preparing to open. In the works since 2006, the Banyule Council is remodeling Greensborough as a regional centre which is economically vibrant and ecologically sustainable. The council has already completed WaterMarc leisure and aquatic facility, the renewal of Main Street, and the establishment of pedestrian links from Greensborough station to the retail centre. Currently under construction, a new Council building will include staff accommodation, community facilities, and a floor of commercially let office space. Keep up to date with this exciting new development at www.banyule.vic.gov.au

SOURCE REFERENCE: BANYULE COUNCIL

SMALL PLATES

A

fter much anticipation, the centrepiece of the Town Square has opened, bringing culture and sophistication to Eltham dining.

Inspired by flavours of Europe, Small Plates specialises in tapas, meze and share dishes from countries across the Mediterranean. Owner and Operations Manager, Florie Mustafa expects her newest venture in the local restaurant industry will bring something unique to Eltham’s already eclectic dining scene.

Come and relax with a glass of wine from your backdoor, with a selection of red, white and sparkling wines from Cottles Bridge and the Yarra Valley. Or, choose from a range of Australian and international wines from some of the finest regions. Beer and cider lovers can enjoy a variety of boutique Australian and international beer and cider including on tap local beer from the Thunder Road Brewery in Brunswick.

The menu, a masterfully designed selection by the Two Chef Hat awarded Sam Pinzone, is sure to tantalise your taste buds.

Indulge in the Spanish Meze Platter, a beautiful selection of meats, gourmet cheeses and pickled vegetables. Or, for a perfectly matched culinary delight, the chef recommends the Spinach and Silverbeet Arancicni, paired with a glass of the 2014 Longview Estate Sauvignon Blanc.

SOURCE REFERENCE: SIMON FRITH

Small Plates is family owned by local restaurateurs known for their previous ownership of The Burger Lounge and the Bolton Street Deli and Liquor. Fluti Jonuzi, Nuri Sadiku and Florie Mustafa have joined forces again after 10 years to introduce their newest dining venue to Eltham. According to Florie, “Small Plates is different in that people can steer away from the traditional entrée, main, dessert dining experience, and instead become more experimental with food. We hope this new restaurant brings people together in a fresh new space that gives locals a reason to stay in Eltham rather than venturing to the city.”

In an atmosphere that is casual yet sophisticated, Small Plates is the perfect place to unwind with friends and converse over an array of sumptuous food and wine. Open Tuesday – Sunday from 11:30am until 10:30pm, experiment at Eltham’s hottest new dining location.

WHAT’S ON IN

THE DIAMOND VALLEY

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

WINTER WINEFEST

Y

ou are cordially invited to join the festivities at this year’s Winter Winefest! Over the weekend of the 18th and 19th June, eight of our local winemakers will open their doors and invite you to experience their exquisite wines in their rustic settings. In locations across the Nillumbik Shire and Yarra Valley, prepare for a journey across this boutique wine trail and indulge in some of the areas finest locally produced wines and gourmet specialties. Enjoy a weekend filled with live music, welcoming venues, beautiful views, delectable eats and of course high quality wine. What better way to welcome winter than with new and exciting wines and warming winter fare? There will be a range of wine tastings at each venue, with all the latest varieties available to buy and take home. Hop in the car and embark on a boutique wine journey this winter!

ADDRESS VARIOUS LOCATIONS ACROSS THE NILLUMBIK SHIRE AND YARRA VALLEY TIME SATURDAY 18TH JUNE 2016 11AM-5PM SUNDAY 19TH JUNE 2016 11AM-5PM

At the beginning of autumn, Nillumbik gained a new tourism identity, The Artisan Hills, Naturally Creative.

The Artisan Hills brand promotes our beautiful shire as a naturally creative environment to inspire people to visit the scenic landscapes, artisans and townships in Nillumbik. To discover a diverse range of activities, events and happenings taking place throughout The Artisan Hills, head to the website, www.theartisanhills.vic.gov.au. Here you can keep up to date with the best that Nillumbik has to offer.

ADDRESS 570 MAIN ROAD ELTHAM TIME SUNDAY 12TH JUNE 2016 11AM-5PM MONDAY 13TH JUNE 2016 1PM-4PM PRICE $3 PER RIDE. CHILDREN UNDER 17 WITH A TEDDY BEAR RIDE FREE

THE TEDDY BEARS PICNIC

F

or the 4th consecutive year, teddy bears will take over the Diamond Valley Railway this Queen’s Birthday long weekend for the annual Teddy Bears Picnic. Adventure through tunnels and wooded bushland, with a ride along the banks of the Eltham creek on one of Australia’s best miniature railways. Pack up a picnic and enjoy a day with your favourite fuzzy friend - all children under 17 who bring their teddy bear ride for free! So, for a fun day out that is sure to be exciting, head to the Eltham Lower Park for this years Teddy Bears Picnic.

SOURCE REFERENCE: ROBERT CARLISLE

SOURCE REFERENCE: SHUTTERSTOCK SOURCE REFERENCE: SHUTTERSTOCK

ELTHAM BCNA FUN RUN

W

alk, strut, ride or run at the inaugural Eltham BCNA fun run. In the tradition of ‘turning the town pink,’ the Eltham community will be raising funds and awareness for the Breast Cancer Network of Australia (BCNA) in a day filled with exercise, live entertainment, prizes, cake, a jumping castle and more.

With options for either 1km or 5kms in the fun run, tie up your jogging shoes and tackle the challenge to raise funds for an important cause. Registrations are open right up to the day, at Micky’s Fitness and Snap Fitness, or online at www.trybooking.com.au

ADDRESS ELTHAM CENTRAL PARK, PANTHER PLACE ELTHAM TIME SATURDAY 4TH JUNE 2016 1KM- 9AM 5KM-1PM COST ADULT- $10 CHILD- $5

OUR

RECENT SALES A SELECTION OF SOLD PROPERTIES

50 River Avenue Plenty - $2,000,000

222 Bolton Street Eltham - $725,000

55 Downey Drive Doreen - $940,000

5 Lindon Strike Court Research - $1,301,500

9 Lexham Square Eltham $965,000

2 Manna Mews Plenty - $1,465,000

97 Fernside Avenue Briar Hill - $795,000

14 Delmuir Close Eltham - $994,000

622 Masons Road Mernda – undisclosed

23 Cathedral Rise Doreen - $907,500

1 Parrot Drive Whittlesea - $971,250

1 Beaumont Street, Watsonia - $857,000

5 Amberley Way Lower Plenty – undisclosed

33 Yangoora Place Greensborough - $805,000

17 Calrossie Avenue Montmorency - $1,020,000

20A Leane Drive Eltham – undisclosed

MEET

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

I joined Morrison Kleeman in 2004. My previous work was strongly focused on Finance and HR, which, combined with my love for real estate brought me into the role I’m in now. In 2013 I was offered to become a director at Morrison Kleeman which was very exciting for me. Whilst I do not sell real estate, I love being involved with Recruitment and Training, and managing the behind the scenes areas of Administration, Property Management, Finance and Operations.

What are some exciting changes at the company this year?

Well it is always exciting to see the company grow and the individuals grow with the company as well. As most people will have seen we moved into a lovely new work place in Eltham recently and now we are about to expand in Doreen with bigger premises as the team out there grow rapidly. MK started a quarterly magazine this year which is receiving rave reviews from the community along with a new market update video filmed monthly which looks great. We have also recently rebranded the company’s advertising material, as well as a revamp of the website! There is a lot happening this year as always!

CATHY LOFTUS

DIRECTOR 9431 2444 cloftus@morrisonkleeman.com.au

What do you enjoy doing in your spare time?

My partner and I get away as often as we can to our permanent onsite Caravan at Cohuna (45 minutes past Echuca). We are also very involved with the EH/EJ Car Club of Victoria so we spend a bit of time going on the club runs. We also follow the V8 Supercar Racing and usually attend the Clipsal 500 in Adelaide, Phillip Island, Winton, Sandown and the Gold Coast races each year.

Where do you think is the best place to get a coffee in Eltham?

In my opinion, the best coffee shop in Eltham is Little Drop of Poison. It is somewhat secluded, located just off Main Road Eltham, but the menu is fantastic and the coffee is always perfect!

What do you love about working at Morrison Kleeman?

The sense of family and community. The brand was established around integrity and transparency which makes it a fantastic place to work. Our new office in Eltham is the icing on the cake, it’s an amazing place to come to everyday!

What do you enjoy about conducting auctions?

The atmosphere and excitement. Selling a home well above our and our Vendors expectations “under the hammer” is hard to beat.

TRISTAN MESSERLE

SALES CONSULTANT/AUCTIONEER C.A.R (REIV) 0438 176 416 tmesserle@morrisonkleeman.com.au

What are some exciting things happening in Doreen?

There is a lot happening in Doreen, we had a record sales month last month with the standout being 55 Downey Drive which sold for $940,000 within 24 hours of the property being put on the market. Our Morrison Kleeman office in Doreen is expanding to get some new staff and keep up with the demand in Doreen. Very exciting things to come!

Describe your dream house?

My dream home would be set on acreage, and it would be a very contemporary, flat roofed home with oversized floor to ceiling windows to allow natural light to flood in.

CHRISTIAN MARCHETTI

BRANCH MANAGER/LICENSED ESTATE AGENT 0400 233 946 cmarchetti@morrisonkleeman.com.au

How do you like to keep fit?

I enjoy exercising at the gym, and I also have a passion for horse riding so I do that whenever I can.

Besides real estate, are there any other aspects of property that interest you?

I have an interest in architecture so I do enjoy reading all things related to that.

What do you like to do in your spare time?

I try to dedicate time to care for those with intellectual disabilities, who have not had the same opportunities as most of us and appreciate the little things that most of us take for granted. I also spend a lot of time with my family and two beautiful grandchildren. I love dining out and of course indulging in a bit of retail therapy!

You’ve recently been rated the top selling agent in Watsonia, what do you like most about the suburb?

I have lived in Watsonia for 18 years and can understand what is attracting so many buyers to the area. Regardless of where in Watsonia you live, you are walking distance to shops, the train station and schools. And of course, the coffee shop ‘Syrup’ is a local favourite and a must try for new home owners in the area.

Where do you like to go on holiday?

If I can’t get time off to visit Europe, each year I try to spend some time somewhere tropical like Palm Cove in North Queensland. But I would love to spend more time on the beautiful Greek islands and in all parts of Italy.

MARILYN MCGIBBON

SALES CONSULTANT 0411 559 088 mmcgibbon@morrisonkleeman.com.au

What do you love about the Diamond Valley area?

I love the atmosphere, how friendly people are and the cafes and restaurants that are available. Everyone who has lived in the Diamond Valley can also comment on how beautiful it is to be surrounded by nature and live amongst greenery.

What’s your favourite local restaurant?

Definitely The Main Café and Bar in Eltham. It has a great menu with an extensive range of choices – something to suit everyone! I often get my morning coffee there too which never disappoints.

BRI MCINTYRE

PROPERTY MANAGER 0476 803 081 bmcintyre@morrisonkleeman.com.au

What do you enjoy about property management?

I enjoy that every day in this job is different, you never know what the day will bring. I also enjoy meeting new people and hearing people’s experiences.

Editorial by : Ellee Pitman Cover image : Reg Cox 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.