NEWS SPRING 2016
CELEBRATING 25 YEARS OF SERVICE IN THE DIAMOND VALLEY The outlook for buying, selling and investing in 2016
SPRING
MARKET REPORT
T
h e latest statistics released by the Real Estate Institute of Victoria (REIV) have shown that despite some expert opinions, the Victorian property market has remained incredibly strong. In the three months to June 30, Melbourne’s median house price increased a further 3.6% to a record high of $725,000 – the largest price growth since September 2015. With this latest increase, Victoria has been named the most resilient state in the nation in terms of the property market. REIV CEO Mr Geoff White has noted
WELCOME TO THE SPRING EDITION OF THE MORRISON KLEEMAN PROPERTY REPORT.
that there have been significantly fewer listings this year, down by around 300 per week across Melbourne in comparison to last year. However, this has not affected the extremely solid prices that properties are achieving. “The message to vendors is that the market is still bubbling along nicely – and that, given the sales results and prices, those looking to list their homes should do so. Now is a great time to sell,” Mr White said. Greensborough and Eltham were standout suburbs this quarter with exceptional median house price growth.
Greensborough saw a 4% increase in quarterly median price to reach an all time high of $780,000 while Eltham increased a staggering 5.1% to $820,000. Neighbouring suburb Montmorency has also seen dramatic price growth for the entirety of 2016 with the latest figures showing another quarterly median price increase of 5.8%. For the months of June and July, Doreen was one of the highest performers in Melbourne with the REIV reporting it to be one of the strongest growth suburbs in 2016. The most recent statistics have
School zone has become an increasingly popular destination for young families. We’ve seen an increase in median house prices in the suburbs surrounding the St Helena school zone due to families investing more money in a family home near an accredited school, rather than paying higher private school fees. Victoria’s vacancy rate fell to 2.8 % in the latest quarter. At Morrison Kleeman we have a vacancy rate for our rental properties of less than 1%. This rental market strength is also reflected in the latest median rent prices. The suburbs in middle Melbourne (including those of the Diamond Valley) saw a further weekly increase to a median of $415 per week. With the latest decision to put the record low interest rates on hold, and a lot of new property stock coming to the market in spring, now is a great time to buy. If you’re currently looking in the area, please contact our experienced sales team today. We are more than happy to assist with any of your local real estate needs.
Kind Regards, Peter Kleeman
shown a moderation in price, and it is now the neighbouring suburb, Mernda which has seen a strong increase in median house prices to $430,000. Mernda has been reported as one of the most affordable suburbs for a quality home. With prices rising rapidly in all suburbs, young families and first home buyers are flocking to Doreen and Mernda for something ideal and affordable. This buyer interest has brought the average number of days on market down to a low 36 days. We saw an exceptional close of the
financial year in the auction market with a surge of auctions at the end of June. As of August 8th 2016, the auction clearance rate across Melbourne was 76% and at Morrison Kleeman the clearance rate for all properties that went to auction was 90%. Notably, the suburb of Greensborough had the second highest auction clearance rate in Victoria with all auction properties selling at a rate of 95%. The REIV conducted a study in the last 12 months which showed a boost in sales prices in areas where there is a highly accredited public school. The St Helena
NOTABLE LOCALS PEOPLE AND PLACES OF NOTE IN THE DIAMOND VALLEY
MELBOURNE TIMBER SLAB TABLES
B
orn from his love for the unique craft of woodwork, local Diamond Valley resident Tim Strickland founded Melbourne Timber Slab Tables in October 2015. Entirely self taught, Tim realised his passion for woodwork just a few years ago. “My interest in woodwork first began when I experimented mainly with small pieces like chopping boards, serving platters and small coffee tables,” he explained. Sourced from 90% Australian timber, Tim now creates beautiful, one of a kind slab tables which he crafts and sells from his home workshop. Competing in an industry that has been around since the beginning of time, Tim has created his own niche within the market by working personally with customers to make one of a kind custom pieces. According to Tim, “the most rewarding part of what I do is seeing the joy on my clients faces when their vision becomes a reality.” What began as a hobby is now a part time job for Tim, who has aspirations for the company to continue to grow. “I would like to make it my full time job. I can only hope that I can continue along this journey that I am enjoying so much. Definitely in the future I would like to have my own workshop, drying room, and showroom.”
From sourcing, levelling off, sanding, filling, finishing and varnishing, Melbourne Timber Slab Tables are crafted solely from Tim Strickland’s two hands. With a philosophy to continuously create 100% unique tables, you can be sure that you’re getting something that is one of a kind. For your next redesign, or to perfectly ornament your living space, head to www.melbournetimberslabtables.com.au
SOURCE REFERENCE: SIMON FRITH
ANTHONY BEALE RESERVE REGIONAL PLAYSPACE In May 2016 construction commenced on Banyule’s latest major regional playspace. St Helena’s Anthony Beale Reserve is currently being transformed into a brand new play haven for children and families alike. After a long phase of planning and consulting the community, including many local school children, Banyule Council and the Victorian State Government have allocated $750,000 for this exciting new development. The new regional playspace will offer a fantastic destination for children of all ages to enjoy, and will provide the perfect setting for families to gather and have an extended visit. The playground will include a diverse range of built and natural play elements, including water play areas, a sand pit, sensory landscaping, a giant basket swing, a climbing net, and a double cable ride. Work is expected to be completed in October, so get ready for the latest family playspace to pop up in your neighbourhood.
SOURCE REFERENCE: BANYULE CITY COUNCIL
NCIL
MABEL JONES
M
abel Jones has moved into the neighbourhood and is gracing Greensborough with a touch of inner city lure. Named after owners Seona and Damien’s grandmothers, Mabel Jones is warm, inviting and familiar – just as your granny’s house would be! This fresh new café on Grimshaw Street has been bustling with people since its opening in May 2016. According to Seona, “the response we’ve had since opening has been completely overwhelming!” The menu shares some similarities with Mabel Jones’ renowned Thornbury sister café, Jerry Joy. It features the popular and delicious free range baked eggs, and the delectable mushroom and hash dish. The menu is adjusted seasonally, developed by head chef Sandra Melgalvis, who has a keen focus on preparing as much of the menu as possible onsite. “We pride ourselves on making things you could easily buy in such as our jams, aioli, sauces, hash browns and crumpets,” Seona explained.
SOURCE REFERENCE: MABEL JONES
The venue is conveniently located within close proximity to Greensborough Plaza and you can take ease knowing there is a surplus of parking. As you enter through the seemingly small street front door, the interior opens up to a large split-level dining room. Featuring exposed bricks and floor to ceiling windows, the interior of Mabel Jones is a gorgeously versatile space with accents of greenery and modern décor. “You can bunker down on a couch for the afternoon, grab a quick bite in our bar area, or enjoy a large group gathering on our custom-built hexagon table in the front window,” Seona said. With their latest restaurant venture, Seona and Damien hope to breathe some new life into the Greensborough precinct. With a liquor license on the way, the local pair plan to open Mabel Jones for dinner and functions. So, pop into your lovely new neighbour, and keep your eyes peeled for more exciting and delicious things to come!
WHAT’S ON IN
THE DIAMOND VALLEY
A SELECTION OF THE MANY WONDERFUL EVENTS RUNNING IN THE LOCAL AREA OVER THE COMING WEEKS.
PRACTICALLY GREEN SUSTAINABILITY FESTIVAL ADDRESS EDENDALE FARM, ELTHAM TIME SUNDAY 16TH OCTOBER 10AM - 4PM
‘ON THE HILL’ PANTON HILL FESTIVAL ADDRESS FIREFIGHTERS MEMORIAL PARK, PANTON HILL TIME SUNDAY 23RD OCTOBER 11AM - 6PM
ELTHAM ROTARY TOWN FESTIVAL ADDRESS ALISTAIR KNOX PARK TIME SATURDAY 12TH NOVEMBER 12PM-9.30PM SUNDAY 13TH NOVEMBER 9AM-5PM
SOURCE REFERENCE: PRACTICALLY GREEN SUSTAINABILITY FESTIVAL
COMBINED CATHOLIC SCHOOLS AND PARISH FETE ADDRESS ST JOSEPH’S SCHOOL, MERNDA TIME SATURDAY 10TH SEPTEMBER
DIAMOND CREEK ROTARY TOWN FAIR ADDRESS MARNGROOK AND COVENTRY OVALS, DIAMOND CREEK TIME SATURDAY 10TH SEPTEMBER 10AM-10PM
ADDRESS VARIOUS LOCATIONS ACROSS NILLUMBIK AND YARRA VALLEY TIME SATURDAY 15TH & SUNDAY 16TH OCTOBER 11AM – 5PM COST FREE
OPEN CELLARS OF NILLUMBIK – OCTOBER 15TH YARRA VALLEY
E
njoy a glass of wine from our own wine country doorstep at this year’s Artisan Hills Open Cellars weekend. In October’s warmer weather, enjoy picturesque views of the rolling green hills in our local quaint countryside. Brought to you by some of Nillumbik’s most boutique and friendly wineries, this is your opportunity to indulge in artisan wines in locations that are not always open to the public. With no entry or tasting fee, you’ve got nothing to lose by enjoying this exquisite weekend of wine! This year’s unique trail features handpicked and hand-crushed wines from 16 local cellars. With live music and a range of delectable food options to accompany your tastings, it’s a weekend not to be missed! For more information, visit www.opencellars.com.au
SOURCE REFERENCE: CAROL JENKINSON
SOURCE REFERENCE: ELTHAM ROTARY TOWN FAIR SOURCE REFERENCE: ELTHAM MUDBRICK TOUR
ELTHAM MUDBRICK TOUR
E
xplore the foundations of our ‘Artisan Hills’ with a day to discover the classic and unique Eltham mudbrick houses. Beginning at Eltham’s renowned Montsalvat, this mudbrick tour will take you on a journey that celebrates the area’s distinctive architectural heritage. Out of an estimated 1300 mudbrick buildings within our shire, this tour will expose you to a carefully selected handful of some of Eltham’s most prominent and beautiful mudbrick buildings. The event also stands as a fundraiser for the Eltham High School’s renowned ‘Friends of Music’ music program. Each year a significant amount of money is raised for the music program that is widely recognised across Australia. So, for a day to appreciate the rustic charm of mudbrick, don’t miss this tour. Tickets go on sale mid September with all details at www. elthammudbricktour.org
ADDRESS TOUR STARTS MONTSALVAT TIME SUNDAY 23RD OCTOBER 10AM - 4PM COST $25 FOR ADULTS $20 CONCESSION CHILDREN FREE
OUR
RECENT SALES A SELECTION OF SOLD PROPERTIES
57 Mclaughlans Lane Plenty $1,040,000
2 Dwyer Street Macleod $1,680,000
25 Greenmeyer Court Greensborough $775,000
6 Gosford Court Doreen $860,000
20 Diamond Street Eltham $1,225,000
418 Reynolds Road Research $1,045,000
7 Golf Links Drive Yarrambat $1,400,000
4 Bible Street Eltham - undisclosed
120 Reservoir Road Yan Yean $950,000
23 View Road Lower Plenty – undisclosed
46 Osborne Road North Warrandyte $1,410,000
104 Greenhill Road Greensborough $725,000
64 Oronsay Crescent Diamond Creek $731,000
24 Downey Drive Doreen $610,000
4/62 Rattray Road Montmorency $762,000
85 Clintons Road Smiths Gully $1,075,000
MEET
THE TEAM AQUA Financial Services ‘Providing confidence and care before, during and after purchase’ Since 2000, Daniel Hustwaite from AQUA Financial Services has been caring for homeowners in the Diamond Valley area. With a dedication to finding the most competitive home loan rate to suit your specific needs, there is no wonder AQUA is a leading industry mortgage broking company. Located in Eltham’s newly redeveloped Town Square, AQUA has been affiliated with Morrison Kleeman Estate Agents for more than 12 years. In 2014 and 2015 Mortgage Professional Australia (MPA) ranked Director Daniel Hustwaite within the top 100 brokers Australia wide. With a thorough knowledge of the marketplace, as well as a philosophy to offer a personalised experience, award winning AQUA Financial Services will take the stress away from financing your home. At no cost to you, the team at AQUA will provide you with transparent and trustworthy information. You can also expect personalised service, as well as an ongoing client service relationship to ensure that your selected lending package continues to meet your requirements throughout the life of the loan. If you would like a free home loan health check please contact: Daniel Hustwaite 0408 985 611 dhustwaite@aquafs.com.au
From conception to completion, Morrison Kleeman can assist in every aspect of Projects and Developments. Having been involved in some of the area’s biggest residential developments, we have the experience and expertise to produce optimum value for every development project. Our premium services encompass everything from site selection and negotiation, current market research, management of your project through to marketing and selling/ leasing your development. The professionals at Morrison Kleeman spend time listening to what buyers want, and just as importantly, what they don’t want. This helps our clients create stunning projects that are embraced by the market, which leads to obtaining maximum returns. With proven expertise in sales, property management and finance we can provide the right advice for every property transaction. We can assist with: • • • • • • •
Feasibility and viability prior to purchase Comprehensive sales and marketing services Project branding Pricing strategy and structure Furnishing display units Product mix on large scale developments Buyer preferences for each location to maximise value and market appeal
What is your favourite type of property to sell? My favourite types of properties to sell are to second and third home buyers - anywhere from 30 to 130 square in size and from 700m2 to 100 acres. I have a keen interest in architecture and appreciate modern and bright tones throughout a home. I love selling freshly renovated, contemporary style homes with architectural features and lots of space. What do you enjoy doing in your spare time? Family is my number one focus in my spare time, however I do enjoy touring on one of my motorcycles. From riding my cafe racer through the Toolangi Forest in Victoria, to riding my Dakar style motorbike on and off roads in Tasmania, I love to get on my bike whenever I get the chance!
SHANE LEETE
LICENSED ESTATE AGENT 0419 118 302 sleete@morrisonkleeman.com.au
Having lived in the area for 15 years, what do you think draws buyers to the Diamond Valley? I think buyers are attracted to the lifestyle and diversity that the Diamond Valley has to offer. There are lovely rural settings, as well as modern contemporary areas anywhere from Lower Plenty to Doreen.
What is your favourite lunch spot in Eltham? I like to go to Sushi Wushi at least once a week. The two female sushi chefs supply only the best cuts of salmon, tuna and a selection of white fish. The food is always elegantly presented, and the seafood superbly fresh, so it’s an easy decision for me to enjoy this quick, healthy lunch There is a lot of driving involved in a real estate career, what do you like to do to break it up? As with most agents, I spend a lot of time in the car. However, I also like riding my Vespa 250ie Gran Turismo (in the more temperate months) to appointments. It is a point of difference for me, and the Vespa allows me to get from one appointment to the other in a fraction of the time it takes in the car. So, if you see a guy in a suit riding a red Vespa around Eltham, wave and say hi; better still, wave me down and ask for a Market Appraisal! Where is your favourite place to holiday? For great food and wine, in my eyes you simply cannot beat Italy. However, in recent years I have been traveling to Bali for the sun and the laid-back, inexpensive lifestyle. Not necessarily to Kuta or the more popular beaches, but to the surrounding islands, such as Gili Air, Gili Meno and others. They are easily accessible and the waters surrounding these nearby islands are truly crystal-clear as they are yet to be affected by pollution. I’m really looking forward to my next visit.
ALVY BUFFON
AUCTIONEER/SALES CONSULTANT 0412 674 461 abuffon@morrisonkleeman.com.au
What do you love about the Diamond Valley area? I really love that there are a lot of sporting venues to play and watch local sport. I think this is a great thing to have not only when raising kids but to continue team sport as an adult too! I also love all of the really nice cafes with good food, coffee and atmosphere. What do you like to do in your spare time? I love to get outdoors and keep very active. I really enjoy going for walks in our lovely leafy area, as well as playing netball. And of course most of all I love spending time with my son. How would you describe yourself in three words? Dependable, enthusiastic and sincere How would you describe your dream home? My dream home would have wide frontage and be on an PROPERTY MANAGER acre block. It would be modern Scandinavian style with 9431 2444 open plan living and a big entertaining area! jbeech@morrisonkleeman.com.au
JODIE BEECH:
Editorial by : Ellee Pitman Cover image : Simon Frith 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.