FEBRUARY
Insights
reliancere.com.au
TABLE OF
Contents
2 5
WELCOME A message from the CEO Sunil Kumar
ARTICLES Featured articles from the month of February
8
SALES SUMMARY
23
RENTALS ACTIVITY
27
SUMMARY
Featured Sold and On Market listings
Featured Leased and On Market listings
A quick summary of our February
SUNIL KUMAR
CEO/Founder The Reliance team held steady during the sudden 5-day lockdown in February, and the teams reinforced efficiencies and innovations learnt during the 2020 COVID-19 lockdown, as we head towards the period of forced lockdowns this time last year.
More broadly on the weekly trends while there will possibly be some instability, we can expect that buyer demand will remain close to historic high levels. In February 2021, national house prices rose by 0.4%, that’ s 1.8% higher than over the past three months and 5.9% higher than they were in February 2020. The housing market has seen growth in property prices since the middle of 2020. Driven on by an increase in demand for property, and historic low borrowing costs, have pushed prices higher. Fixed rate mortgages are now available from lenders for less than 2%. The low costs, increased savings and restrictions on overseas travel, have increased demand for new mortgages. Melbourne renters have seen a general shift towards outer suburbs at almost 40k from the CDB. This is a direct result of renters enabled to work from home and can branch out from city locations. As of the end of February, we had 144 New Sales Listings; 116 Properties Under Contract; 97.74% List to Sell Conversion Rate; $2.1 million Highest Residential Sold Price and 68 million worth of property sold.
Property Management showed by the end of February, 52 New Landlords; 73 Leased Properties and 9 Days on Market average.
Heading into March and April, we reflect on the learnings of 2020 and remain confident we will continue to create momentum and drive. Our teams are prepared, proactive and looking ahead with confidence and optimism.
Sunil Kumar CEO/Founder
FEATURED IN FEBRUARY
Articles
FEATURED IN JANUARY
FUNDINGFORCE.COM.AU
Articles
Principal and Interest vs Interest only There are 2 common types of loan repayment. Applying for a home loan will get you in choosing an option for these types of repayments. – Principal and Interest only or Interest-only. It’s very important to know how things work on these different types of loan repayments and how they can change over time. Each of these repayment types has pros and cons on their respective conditions. Before we differentiate the two, here’s the simple definition for ‘Principal’ and ‘Interest’ The principal is the amount you borrow while the Interest is the amount you’re charged by the lender for borrowing the principal amount. Let’s begin with an Interest-only loan. For example, you had a $300,000 loan and you paid 4% interest rates per month that would mean roughly that you paid about $1,000 in interest per month now that’s only the interest component of the loan you’re actually not paying anything off the loan itself and that’s where principal and interest comes in. So same scenario you’d be paying about $1,000 interest but you’d also be paying about $400 to $500 in principal so about $400 to $500 actually off the loan itself so the loan would reduce for that particular month from $300,000 to $299,500 and that’s how principal and interest loans works eventually your loan amount will decrease every month until it’s completely paid off. To simplify, Principal and Interest repayments will require you to pay the principal off the top of the interest charged on it and Interest-only repayments will set you to pay the interest component of your loan for a given period of time.
INSIGHTS REPORT FEBRUARY
Principal and Interest loan pros: • Able to pay lesser interest through the total terms of the loan. • Able to pay a lower interest rate compared to IO rates. • Able to finish the loan faster to own the property sooner. Principal and Interest cons: • Repayments are higher than IO loan. • Tax-efficient is not sure/guaranteed for an investment loan. Interest-only pros: • Able to pay lesser repayments for a given period of time. • A chance of having tax benefits for investment loan Interest-only cons: • No repayments on the principal amount during the Interest-only period. • After the interest-only period, high repayments for the principal amount begins. • The interest rates from the Interest-only period is higher than the P&I loan. • You’ll be dealing more interest payable through the total terms of the loan. Here’s what our Loan Processing expert takes on differentiating between Principal and Interest and Interest-only loans: “P&I has flexible repayments and even though you’re paying a much higher amount, P&I had a much lower interest rate over IO loan…” “IO only had a certainty of repayments and it has a higher risk compared to P&I.” – Emilyn Ronquillo, Loan Processing Assistant of Funding Force.
PAGE 5
FEATURED IN JANUARY
RELIANCERE.COM.AU
Articles
Reliance Wins RateMyAgent’s Awards 2021 RateMyAgent – Australia’s number one reviews website and provider of digital marketing solutions for real estate agents – has today announced Reliance Real Estate as the winner in multiple categories fo the 2021 Awards. – – – – – – – – – – – – – – – –
Agent of the Year – Diggers Rest Top 100 Australian Agencies Agency of the Year – City of Melton Top 5 Agency of the Year – Bacchus Marsh Agent of the Year – Brookfield Agent of the Year – Kurunjang Agent of the Year – Melton south Agent of the Year – Melton PM Agency of the Year – City of Melton PM Agency of the Year – Melton PM Agency of the Year – Melton West PM Agency of the Year – Brookfield Agency of the Year – Hoppers Crossing Agent of the Year – Tarneit Agent of the Year – Hoppers Crossing Agency of the Year – Wyndham Vale
The sixth annual awards ceremony was held last night via virtual event – and MC’d by comedian Lawrence ‘Moonman’ Mooney – saw Australia’s and New Zealand’s top real estate agents and mortgage brokers gather online to celebrate the industry’s most successful agents. The highly anticipated RateMyAgent Agent of the Year Awards are the only of their kind in the industry and based on customer satisfaction. They acknowledge those who have been the most consistently recommended by local Australia/New Zealand home sellers and landlords.
“Last year our Australian and New Zealand agents and mortgage brokers were faced with a period like no other. Agents and brokers in our industry had to go above and beyond for homeowners, from hosting virtual auctions and consultations to looking at new ways to sell homes and engage buyers. The 2021 Agent of The Year Awards gave the industry the opportunity to celebrate all their success,” said RateMyAgent co-founder and executive director Mark Armstrong. “We congratulate and celebrate all of the 2021 winners and nominees, and look forward to another exciting year across our industry,” continued Armstrong. RateMyAgent is used by agents who sell 80% of all property in Australia – and high-performing agents are determined by real reviews from those who have bought or sold a home with the agent. RateMyAgent provides reviews, ratings and rankings for real estate agents and mortgage brokers in Australia. The website’s one million verified reviews are attached to the property sale transaction, ensuring that the information provided is unique to the agent and from a genuine property seller or buyer.
To win means to have secured the highest satisfaction rating across the country – celebrating and recognising real estate agents and agencies that provide truly excellent client service to home buyers, sellers and landlords.Jarrod McCabe
INSIGHTS REPORT FEBRUARY
PAGE 6
FEATURED IN FEBRUARY
Sales
RELIANCERE.COM.AU
SELECTION OF
Recently Sold SOLD for $900,000
6
4
8
SOLD for $650,000
4
2
2
SOLD $500,000
4
2
2
SOLD for $655,000
4
2
2
SOLD for $608,000
3
2
2
SOLD for $750,000
3
3
2
SOLD for $490,000
5
2
2
SOLD for $530,000
3
2
2
SOLD for $790,000
4
2
2
SOLD for $600,000
4
2
2
10 Broomie Street, Aintree
85 Manooka Road, Brookfield
7 University Road, Truganina
43A Claremont Crescent, Hoppers Crossing
11 Hayley Street, Hoppers Crossing
INSIGHTS REPORT FEBRUARY
29 Dalwood Circuit, Aintree
36 Himalaya Drive, Diggers Rest
46 Omaroo Street, Truganina
6 Bellbridge Drive, Hoppers Crossing
76 Oleary Way, Maddingley
SOLD for $800,000
4
2
2
SOLD for $760,000
5
2
2
SOLD for $545,000
5
2
2
SOLD for $1,670,000
5
5
6
SOLD for $400,000
3
1
2
1 Aranar Court, Bacchus Marsh
6 Bloxham Court, Hoppers Crossing
6 Corbet Street, Melton South
5 Amstel Court, Hoppers Crossing
34 Plover Street, Melton
PAGE 8
RELIANCERE.COM.AU
SELECTION OF
Recently Sold SOLD for $437,000
3
2
2
SOLD for $585,000
4
2
2
SOLD $710,000
4
3
2
SOLD for $630,000
4
2
2
SOLD for $608,000
3
2
2
SOLD for $750,000
3
3
2
SOLD for $717,000
5
2
2
SOLD for $596,000
4
2
2
SOLD for $885,000
6
4
7
SOLD for $650,000
4
2
2
5 Comic Court, Harkness
35 Lilyturf Drive, Tarneit
7 University Road, Truganina
6 Cross Lane, Aintree
79 Philip Drive, Sunbury
INSIGHTS REPORT FEBRUARY
19 Endeavour Way, Wyndham Vale
6 Mercantour Boulevard, Tarneit
46 Omaroo Street, Truganina
22 Regal Road, Point Cook
29 Santarosa Avenue, TArneit
SOLD for $670,000
3
2
2
SOLD for $600,000
4
2
2
SOLD for $545,000
5
2
2
SOLD for $595,000
3
2
2
SOLD for $500,000
4
2
2
40 Barber Drive, Hoppers Crossing
5 Radiance Street, Tarneit
6 Corbet Street, Melton South
5 Stanbury Court, Sunshine West
66 Chanticleer Avenue, Harkness
PAGE 9
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 FEBRUARY
PAGE 10
RELIANCERE.COM.AU
SELECTION OF
Just Listed No.
Address
Bed Bath Car
1
96 Riverside Concourse, Cobblebank
4
2
2
01/02/2021
Contact agent
2
10 Liriope Green, Caroline Springs
5
5
8
04/02/2021
Contact agent
3
12 Fortune Street, Truganina
4
2
2
05/02/2021
Contact agent
4
5 Plume Place, Point Cook
4
2
2
05/02/2021
5
142 Farm Road, Werribee
4
2
2
05/02/2021 $540,000 - $560,000
6
2/13 Marlo Drive, Harkness
3
3
1
05/02/2021
$399,000 - $429,000
7
54 Rhonda Crescent, Truganina
4
2
2
06/02/2021
Contact agent
8
65 Millbrook Drive, Wyndham Vale
3
2
2
06/02/2021
Contact agent
9
11 Matheson Avenue, Wyndham Vale
4
2
1
06/02/2021
Contact agent Contact agent
10
9 Lancaster Drive, Point Cook
Date
5
2
4
06/02/2021
Price
Contact agent
11
1/4 Brazil Court, Melton West
3
2
1
06/02/2021 $409,000-$429,000
12
87 Caitlyn Drive, Harkness
4
2
2
07/02/2021 $539,000-$569,000
13
19 Tristania Drive, Point Cook
4
2
2
07/02/2021
$750,000-$780,000
14
12 Perkins Avenue, Hoppers Crossing
3
1
4
07/02/2021
Contact agent
15
35 Woolshed Drive, Truganina
4
2
2
16
25 Raleighs Road, Melton
3
1
2
08/02/2021
$410,000
17
112 Yuruga Boulevard, Point Cook
4
2
2
08/02/2021
$800,000
18
10 Horan Way, Weir Views
5
2
2
12/02/2021 $490,000-$520,000
19
4 Portland Avenue, Truganina
3
2
1
12/02/2021 $430,000-$450,00
20
4 Gallop Court, Truganina
3
2
2
12/02/2021 $540,000-$570,000
INSIGHTS REPORT FEBRUARY
08/02/2021 $760,000-$790,000
PAGE 11
RELIANCERE.COM.AU
SELECTION OF
Just Listed No.
Address
Bed Bath Car
Date
Price
21
84 Grassbird Drive, Point Cook
4
2
2
13/02/2021
Contact agent
22
7/3-11 Retford Close, Werribee
3
1
1
13/02/2021
Contact agent
23
147 Marquands Road, Truganina
5
2
2
14/02/2021
Contact agent
24
11 Stretton Drive, Brookfield
4
2
2
14/02/2021
$670,000
25
23 Guthrie Drive, Melton South
4
2
2
15/02/2021
$499,000-$515,000
26
271 Princes Highway, Werribee
4
2
2
15/02/2021
Contact agent
27
20/51-55 Tullidge Street, Melton
3
2
2
16/02/2021
$359,000-$379,000
28
24 Chartwell Avenue, Truganina
3
2
2
17/02/2021 $550,000 - $570,000
29
24 Becontree Crescent, Strathtulloh
3
2
2
17/02/2021 $420,000-$450,000
30
2/2 Sibley Street, Werribee
3
2
1
19/02/2021
31
30 Coburns Road, Melton South
3
1
1
21/02/2021 $370,000 - $390,000
32
26 Beckview Crescent, Sunbury
3
2
2
22/02/2021 $520,000- $565,000
33
1/13 Shields Court, Sydenham
3
2
2
25/02/2021
34
12 Perkins Avenue, Hoppers Crossing
3
1
4
35
35 Woolshed Drive, Truganina
4
2
2
36
25 Raleighs Road, Melton
3
1
2
27/02/2021
$410,000
37
112 Yuruga Boulevard, Point Cook
4
2
2
27/02/2021
$800,000
38
48 Grace Street, Melton South
3
1
2
39
4 Buckland Circuit, Werribee
3
2
2
29/02/2021
40
21 Aurich Street, Weir Views
3
2
2
29/02/2021
INSIGHTS REPORT FEBRUARY
Contact agent
Contact agent
25/02/2021
Contact agent
27/02/2021 $760,000-$790,000
29/02/2021
$420,000-$445,000
Contact Agent
$430,000
PAGE 12
RELIANCERE.COM.AU
SALES TEAM
Meet Our
AJ
Aarti Puri
Abhi Elawadhi
Abhishek Parashar
Ajay Nain
Akash Choudhary
Akhil Kansal
Deepak Walia
Dhruv Chaudhary
Gurmit Singh Aiden
Divyesh Waghela
Harry Patel
INSIGHTS REPORT FEBRUARY
Donna Carson
Glenda Del Pilar
Inder Vasu
Jd Patel
PAGE 13
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
Jimmy Gill
INSIGHTS REPORT FEBRUARY
PAGE 14
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
Shubham Rana
INSIGHTS REPORT FEBRUARY
PAGE 15
RELIANCERE.COM.AU
SALES TEAM
Meet Our
Sunil Kumar
Socorro Gomez
Taney Jain
Tejveer Singh
Vik Monga
Sushant Peshin
Varun Vagdhan
Swati Rana
Vee Sharma
Vikas Rana
INSIGHTS REPORT FEBRUARY
PAGE 16
FEATURED IN FEBRUARY
Rentals
OUR JANUARY
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
15
INSIGHTS REPORT FEBRUARY
20
5
10
15
20
5
10
15
20
5
10
15
20
PAGE 20
OUR FEBRUARY
RELIANCERE.COM.AU
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 FEBRUARY
$300 $350 $400 $450
PAGE 21
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 FEBRUARY
PAGE 22
RESELECTION
OF
Recently Leased $400
$420 per week
LEASED
146 Stonehill Drive, Maddingley
4
2
LEASED
2
7 Tilton Street, Truganina
4
$370
45 Gala Avenue, Wyndham Vale
4
2
2
LEASED
8 Watagan Street, Tarneit
4
4
2
2
LEASED
27 Bristol Street, Strathtulloh
3
3
2
1
LEASED
39 Saltbush Crescent, Brookfield
4
3
1
2
2
LEASED
5
3
3
3 Mabel Crescent, Mount Macedon
$340
2
per week
2
LEASED
Unit 4/12-13 Bunya Place, Werribee
3
2
LEASED
22 Eltham Parade, Manor Lakes
INSIGHTS REPORT FEBRUARY
4
2
1
per week
2
LEASED
31 Kentwell Street, Truganina
4
2
2
$450
per week
2
2
$425
$370
per week
13 Tanilba Street, Werribee
1
per week
$330
LEASED
1
$370
per week
4 Amble Way, Weir Views
3
95 Station Road, Melton South
per week
$350
LEASED
LEASED
$360
per week
10 Dabinett Street, Tarneit
1
per week
$400
LEASED
2
per week
$420
per week
LEASED
$330
per week
per week
2
LEASED
25 Bronze Street, Tarneit
4
3
2
PAGE 23
RELIANCERE.COM.AU
SELECTION OF
Recently Leased $520
$390
per week
LEASED
9 Arkaba Way, Werribee
5
3
2
LEASED
1 Vibe Road, Tarneit
4
$380
7 Rain Lover Drive, Kurunjang
3
2
2
LEASED
25 Diamantina Way, Cobblebank
3
4
2
2
LEASED
29 Greenleaf Circuit, Tarneit
4
4
2
2
LEASED
25 Iluka Drive, Werribee
3
4
2
2
2
2
LEASED
30 Restful Way, Rockbank
3
INSIGHTS REPORT FEBRUARY
LEASED
4/66 Duncans Road, Werribee
2
1
2
2
$390 per week
2
LEASED
46 Willmott Drive, Hoppers Crossing
4
2
2
$380 per week
2
LEASED
Tangelo Terrace, Werribee
4
2
2
$390
per week
2
2
per week
$300
per week
17 Chorley Street, Strathtulloh
2
2
$360
per week
$420
LEASED
3
$350
per week
654 Armstrong Road, Wyndham Vale
29 Christopher Crescent, Melton
per week
$400
LEASED
LEASED
$380
per week
15 Mopane Circuit, Wyndham Vale
2
per week
$370
LEASED
2
per week
$350
per week
LEASED
$330
per week
per week
1
LEASED
11 Patchouli Street, Truganina
3
2
1
PAGE 24
RELIANCERE.COM.AU
SELECTION OF
Just listed No.
Address
Bed Bath Car
Date
1
85 Barron Street, Tarneit
3
1
2
36 Harlem Circuit, Point Cook
3
2
1
05/02/2021
$360 Per Week
3
80 Bruckner Drive, Point Cook
4
2
2
05/02/2021
$410 Per Week
4
35 Lay Street, Tarneit
4
2
2
06/02/2021
$400 Per Week
5
17 Vicky Court, Point Cook
3
2
2
07/02/2021
$420 Per Week
6
27 Eaglemont Way, Werribee
4
3
2
08/02/2021
$475 Per Week
7
25 Iluka Drive, Werribee
3
2
2
11/02/2021
$350 Per Week
8
11 Patchouli Street, Truganina
3
2
1
11/02/2021
$390 Per Week
9
46 Willmott Drive, Hoppers Crossing
4
2
2
12/02/2021
$390 Per Week
10
8 Tangelo Terrace, Werribee
4
2
2
13/02/2021
$380 Per Week
11
10 Rockson Drive, Truganina
4
2
2
13/02/2021
$410 Per Week
12
58c Tom Roberts Parade, Point Cook
3
2
2
13/02/2021
$395 Per Week
13
13 Yamada Street, Truganina
4
2
2
13/02/2021
$410 Per Week
14
Unit 82/27 Turva Avenue, Tarneit
2
1
1
15/02/2021
$330 Per Week
15
1 Bottlebrush Drive, Hoppers Crossing
3
1
2
18/02/2021
$340 Per Week
16
16/2 Rockgarden Drive, Truganina
3
2
2
18/02/2021
$370 Per Week
17
44/27 Turva Avenue, Tarneit
2
1
1
18/02/2021
$330 Per Week
04/02/2021
Price $340 Per Week
18
3/44 Fitzroy Street, Altona Meadows
2
1
1
18/02/2021
$370 Per Week
19
66 Westcott Parade, Rockbank
3
1
2
21/02/2021
$350 Per Week
20
1/78 Westmeadows Lane, Truganina
3
2
1
20/02/2021
INSIGHTS REPORT FEBRUARY
$380 Per Week
PAGE 25
RELIANCERE.COM.AU
SELECTION OF
Just listed No.
Address
Bed Bath Car
Date
Price
21
51 Newforest Drive, Aintree
4
2
2
20/02/2021
22
43 Mapleton Boulevard, Melton South
2
1
1
21/02/2021
23
2B Sedgefield Avenue, Truganina
4
2
2
22/02/2021
$380 Per Week
24 25
2 Airfield Grove, Point Cook Unit 5/66 Duncans Road, Werribee
INSIGHTS REPORT FEBRUARY
$430 Per Week $340 Per Week
4
2
2
28/02/2021
$420 Per Week
2
1
1
28/02/2021
$310 Per Week
PAGE 26
PROPERTY MANAGEMENT
RELIANCERE.COM.AU
Summary 73 52 9
LEASED LISTINGS
NEW LANDLORDS
DAYS ON THE MARKET AVERAGE
INSIGHTS REPORT FEBRUARY
PAGE 27
RELIANCERE.COM.AU
SALES
Summary 116
PROPERTIES UNDER CONTRACT
$68M 144
WORTH OF PROPERTY SOLD
NEW LISTINGS
97.74% $2.1M
LIST TO SELL CONVERSION RATE
HIGHEST RESIDENTIAL SOLD PRICE
INSIGHTS REPORT FEBRUARY
PAGE 28
RELIANCE HQ 10/22-30 Wallace Avenue Point Cook VIC 3030 (03) 8372 2018 hq@reliancere.com.au