Morrison Kleeman News

NEWS WINTER 2017

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

WINTER

MARKET REPORT

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he Real Estate Institute of Victoria (REIV) has described the current market as the ‘perfect storm,’ following the strongest quarterly increase in house prices in four years. The March quarter statistics showed a 7.6 per cent rise in the Melbourne median house price to reach a record high $826,000.

This is the strongest quarterly growth which has taken the median above the $800,000 barrier for the first time ever.

So what does this mean for the Diamond Valley market? Once again there have been increases across the board in the

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

Northern Suburbs with Montmorency increasing to $882,500, Eltham reaching $900,000 for the first time and Watsonia jumping up a staggering 19.3 per cent to reach a median of $805,000. Briar Hill also saw an impressive 15.9 per cent increase in median price, pushing it up to $800,000.

According to the REIV President Joseph Walton, this ‘perfect storm’ has occurred due to strong buyer demand, solid population growth, record low interest rates and low stock on market.

At its latest meeting, the Reserve Bank

of Australia elected to once again keep the official cash rate on hold at 1.5 per cent. Melbourne is also experiencing the highest interstate migration in over four decades. These factors are driving prices up in the Melbourne market.

New legislation governing how agents quote residential property came into effect in May. The Estate Agents Amendment (Underquoting) Bill 2016 has recently come into effect implementing the following changes: agents are to determine estimated selling prices for residential property, displaying a price

range of no more than 10 per cent on all marketing. There will be a revision of those estimates if an offer is received within the range but not accepted by the vendor. A new ‘Statement of Information’ is required to be easily accessible to all purchasers of residential property, which outlines three comparable sales within a 2km radius of the property, the suburb’s median house price, and an estimated selling range – no greater than 10 per cent.

These changes to legislation aim to create greater consistency and transparency for all stakeholders, and to diminish

underquoting in Victoria. All properties listed after 1st May 2017 are subject to this amendment, and any agent who is found guilty of underquoting after this date will face considerable fines.

The rental market for properties in the Diamond Valley has remained strong with consistency in low vacancy rates and increasing weekly rent. Notably, the weekly median rental price for a unit has increased to $400, falling just $20 short of the weekly rental price for a house. With an increase in subdivided properties in the middle and outer suburbs, there are

more units to choose from. This has lead to tenants having more interest in low maintenance properties, which is driving the median unit prices up.

Auctions across Melbourne have had a clearance rate of 80 per cent, a very high average that can be attributed to the strong buyer demand. If you’re looking to buy, sell, rent or invest this year, now is the time to get in touch with an agent at Morrison Kleeman.

Kind Regards, Peter Kleeman

NOTABLE LOCALS PEOPLE AND PLACES OF NOTE IN THE DIAMOND VALLEY

SHAE AUDLEY

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istory was made in 2017 with the launch of the inaugural Women’s Australian Football League (AFLW). Eight teams fought it out over seven rounds in front of sell-out crowds in February and March this year.

Shae Audley was number 46 pick in the AFLW draft late in 2016. Shae had dreamt of playing in the AFL since she was a little girl. “I’ve been asked how it felt being part of the inaugural season many times over the past six months, and I guess I always come back to the word ‘surreal,’” Shae said.

Shae is a fierce midfielder and this year played for Carlton in the AFLW. She was one of 15 players from Diamond Creek Football club to be drafted. When asked about playing against her former Diamond Creek team mates, Shae said, “It’s funny how you just end up playing footy. You’re so in the zone that there isn’t really even a face to who you’re playing against, you just want to win.” Her competitive nature made her a strong player in the game, never afraid to tackle players or chase that rush of adrenaline.

Shae is a first grade teacher at Laurimar Primary School in Doreen, and had a support team of dozens of students watching the live draft with her and cheering her on. The AFLW training regime of three face-to-face sessions per week, as well as three gym sessions, meant that Shae had to juggle her teaching and playing throughout the season. However, she definitely hopes to do it again next year.

During the ‘off-season’ of AFLW, Shae will be playing with her local club at Diamond Creek. “I can’t go past the team environment that football brings.

The friends and the memories you make from playing football are life long,” she said. Shae now eagerly awaits the trading period of 2017 to find out what her position will be in the league next year.

SOURCE REFERENCE: CARLTON FOOTBALL CLUB

ELTHAM LEISURE CENTRE

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he Eltham Leisure Centre is undergoing a redevelopment of the pool and leisure space following a multi-million dollar injection from the State Government’s Growing Suburbs Fund. The aquatic facilities were more than 30 years old, with the pools prone to regular failure, which intermittently caused the shutdown of parts of the aquatic area. With more than 760,000 visits on an annual basis, the redevelopment will bring the pool facilities up to a modern day standard to ensure and increase continued enjoyment. There will be three new pools, a spa and sauna, change rooms and many other improvements. The facilities have been closed since June 2016 and are due for completion early next year.

SOURCE REFERENCE: NILLUMBIK COUNCIL

PELLIGRA CAKES

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elligra Cakes is a Greensborough institution, with a long history of service from the Pelligra family who originally opened the store in 1985. Formerly known as Greensborough Cake Kitchen, Pelligra Cakes is a family owned business making specialty cakes inhouse daily.

In February 2017 the shop, located on Main Street Greensborough, underwent an expansion to facilitate the growing customer base. The venue is open and spacious with a rustic design featuring exposed brick. “The decision to renovate was to accommodate our already large customer base. We have opened up into a larger seating area to reduce congestion and increase the capacity of the shop. We’ve created a more relaxed environment while still maintaining the ability to serve and accommodate for more customers,” said David Pelligra, manager and son of owner Santo Pelligra.

Guests can preorder personalised cakes, or choose from the daily selection available in the window. The new shop also offers a breakfast menu that is available seven days a week.

And on weekdays, a sandwich bar is available where patrons can order a custom sandwich to enjoy in store or take-away.

SOURCE REFERENCE: DAVID PELLIGRA

Having lived in the area his whole life, David and the family love ‘the people’ in Greensborough most. “They are very loyal. We have a wide range of customers who come into our store on a regular basis. That’s what makes it such a fun environment to work in and be a part of,” David said.

So, for your next event, order a custom cake from the experienced pastry chefs at Pelligra Cakes. Or, head in store and check out the newly renovated space and dine in for some delicious food and a gelato. Open seven days a week from 7:00am Monday-Saturday and 9am on Sunday at 71 Main Street Greensborough.

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: FESTIVE FIRES

WINTER SOLSTICE FESTIVAL

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eld on the longest night of the year, the Winter Solstice Festival is back in Eltham at its new location, Edendale Farm. From 6pm, a large sculptural bonfire will light the sky and burn well into the night.

Now in its sixth year, the night promises a magical and festive evening for the whole family. You have the choice to pack your own picnic, or, enjoy the array of food and drink available from the on site stalls and food trucks, featuring the ever so popular mulled wine. There will be live entertainment including some notable musical performances from local artists, as well as fire entertainers and the choreographed ignition of the bonfire.

You have the option to BYO lantern or buy one on the night to join in the annual parade where hundreds of lanterns are lit and sent into the sky. So, rug up this winter and join the festivities to celebrate the astronomical shortest day of the year.

Tickets are available online at http:// wintersolsticemelbourne.com.au/tickets/

SOURCE REFERENCE: FESTIVE FIRES

LOCATION EDENDALE FARM, 30 GASTONS ROAD, ELTHAM DATE & TIME 3PM-9PM SATURDAY 17TH JUNE COST ADULTS $25, CHILDREN $15, CONCESSION $20

LOCATION HURSTBRIDGE VILLAGE

HURSTBRIDGE WATTLE FESTIVAL

DATE & TIME 10AM-8PM SUNDAY 27TH AUGUST

hake off the winter blues at this fun-filled and family friendly, rural street festival. The Hurstbridge Wattle festival is a significant cultural event for Melburnians that has its roots firmly planted in our early rail history. This year’s festival brings some great new attractions, and of course there will be the popular steam train rides, art shows, BMX shows, vintage displays and plenty to see and do for the whole family. This annual event began in 2004 and has grown in popularity each year. Festival-goers can stroll the main street and the various festival precincts in the village, enjoying a fabulous and extensive array of entertainment, events, activities and more. The newest part of the festival is the addition of the night market from 4pm8pm, so grab a jacket and continue the fun into the evening.

COST FREE

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SOURCE REFERENCE: WATTLE FESTIVAL

SOURCE REFERENCE: WATTLE FESTIVAL

SOURCE REFERENCE: ARDEN CRESCENT CONCERT SERIES

ARDEN CRESCENT CONCERT SERIES

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unning every month from February through to October, the Arden Crescent Concert Series presents vocal and instrumental artists on Sunday afternoons. Since 1995, the committee has organized 187 concerts at the Rosanna Uniting Church location. Musically, the Arden Crescent Concert Series aims to offer quality entertainment at an affordable cost, with thanks to the many talented artists who have helped to make this possible. With a range of wonderful music to suit many tastes, this series of concerts is sure to impress. The Chime Choir (pictured) returns this year after a sell out show in 2016. Tickets can be purchased over the phone or via email, and for those fans who attend six shows a year, a subscription pass is available at a discounted rate. Notably, the concert series supports a range of charities and over the past 22 years, they have distributed more than $83,500 to a wide range of not-for-profit organisations.

LOCATION UNITING CHURCH, 21 ARDEN CRESCENT ROSANNA DATE & TIME 2PM ON SELECT SUNDAYS COST ADULTS $27, CONCESSION $22, STUDENTS $5-$10

OUR

RECENT SALES A SELECTION OF SOLD PROPERTIES

3 Madine Way Eltham $1,105,000

4 Golf Links Drive Yarrambat $2,400,000

2 Fred McCubbin Close Diamond Creek $1,000,000

19 Eucalyptus Road Eltham $1,516,700

13 Jacaranda Drive Diamond Creek $980,000

16 Lupin Street Mernda $635,000

21 River Avenue Plenty $1,300,000

1/209 Nepean Street Greensborough $650,000

15 Bronte Crescent Doreen $813,800

75 Bible Street Eltham $1,140,000

102 Glen Park Road Eltham North $1,021,500

10 Harlin Street Doreen $750,000

2 Jessicas Lane Eltham $1,200,000

1 Riverhill Drive Lower Plenty - Undisclosed Price

11 Hebden Street Greensborough $706,000

33 Airlie Road Montmorency $1,325,000

OUR

SERVICE AREA Whittlesea

Eden Park King Lake

Woodstock

Yan Yean

Arthurs Creek St Andrews

Doreen Mernda Nutfield

Cottles Bridge

Smiths Gully South Morang

Mill Park

Yarrambat

Hurstbridge

Diamond Creek

Plenty

Bundoora

Kangaroo Ground

St Helena

Briar Hill

Eltham North

Eltham Research

Watsonia Macleod

Rosanna

Montmorency

Warrandyte North

Yallambie Viewbank

Christmas Hills

Wattle Glen

Greensborough Watsonia North

Panton Hill

Lower Plenty

Warrandyte

Morrison Kleeman Greensborough

Morrison Kleeman Eltham

Morrison Kleeman Doreen

2/86 Grimshaw Street, GREENSBOROUGH, VIC. 3088

20 Commercial Place, ELTHAM, VIC. 3095

3/101 Hazel Glen Drive DOREEN, VIC. 3754

03 9435 7666

03 9435 7677

03 9431 2444

03 9431 2650

03 9717 8780

03 9717 8816

Morrison Kleeman has been servicing the North Eastern Suburbs since 1991.

Our goal is to provide local homeowners the most personalised and attentive service. We focus on building relationships with every client based on honesty and integrity.

Being a boutique agency, our close-knit sales team is able to spend time looking after every sale, and work closely with vendors to best understand their needs. For many people, their home is their most valuable asset, so we are committed to offering care and professional excellence throughout every sale campaign.

We have three offices in Eltham, Greensborough and Doreen, and our point of difference is that each office works closely together, so we can ensure the most responsive and outstanding customer service. If you’re a client at Morrison Kleeman, you haven’t just got one agent selling your home, you’ve got 30 of the area’s most qualified sales consultants working to make sure your property achieves the best result.

For the right property advice from a member of our experienced team, please get in contact with one of your local Morrison Kleeman offices. Our property appraisals are free and no-obligation, but will provide you with an up to date evaluation of your home in this booming market.

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

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