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Homes for lifeMitcham 03 9874 3355483 Whitehorse Road Mitcham VIC 3132

The PhilipWebb Report Maroondah

In this issue Property Forecast 2012

Latest Median prices

Maroondah makeover

Ringwood 03 8870 2888139 Maroondah Highway Ringwood VIC 3134

Doncaster 03 9842 1477989 Doncaster Road Doncaster East VIC 3109

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Property Median prices suburb by suburb... Sep-10 Dec-10 Mar-11 Jun-11 Sep-11

Croydon 480,000 472,500 466,050 460,000 455,000Croydon Hills 605,000 572,500 N/A N/A N/ACroydon North 552,000 472,500 590,000 515,000 500,000Croydon South 488,000 430,792 450,750 450,750 460,000Mitcham 630,000 615,500 580,000 615,000 593,500Mooroolbark 459,000 450,250 446,250 450,250 434,500Ringwood 540,000 521,500 553,000 487,500 462,500Ringwood East 540,000 520,000 521,250 522,500 476,000Ringwood North 590,000 572,000 602,000 563,500 568,500Vermont 600,000 599,000 578,000 558,000 543,500Source: REIV Median Price House Data

Start the year with a fresh opinion of your property’s market worth! Call our office on 8870 2888 or scan the QR Code on your smart phone to register for your complimentary market appraisal.

StatE oF tHE MaRkEt

Will 2012 be the same as 2011?Last year was challenging for most of us. We saw a significant increase in the general price of living, a struggling retail sector, fear of the US and European economic crises spreading to our shores; and, yes, we saw our local property market soften.

The Real Estate Institute of Victoria recorded a 1.4% increase from the June quarter 2010 to the September quarter 2011. A modest figure, indeed, if one is to merely consider the short-term.

The media has a tendency to overlook the bigger picture when it comes to property forecasts. One needs only to look at the metropolitan median price increase over the past 10 years to see the extraordinary upward price trend we have enjoyed. Despite this, we are constantly warned about the “bubble”, the bursting of which has been a long-awaited catastrophe that I’ve been hearing about on the grapevine for years.

Instead, let’s look at the facts: the fundamentals of our local property market, unlike the US and Europe, tell us that what we are experiencing is not a property bubble, but a short-term pause

in what is otherwise a stable market. A quick comparative analysis clearly demonstrates this:

This shows that migration to Victoria outnumbers the supply of new housing. That is always a healthy sign in terms of property values. In addition, the Reserve Bank’s recent series of interest rate cuts, combined with last July’s 20% cut in stamp duty for properties valued under $600,000, has injected a boost of

confidence, which will and must allow more first homebuyers into the market. This will stimulate the property market with a trickle-up effect.

The City of Maroondah has experienced extraordinary growth over the past few years. The introduction of EastLink tranformed the area into a much more accessible municipality, which naturally boosted property values. That is why I am just as excited about Ringwood being identified as one of Melbourne’s 7 Central Activity Areas outside of the CBD. This is a multi-million dollar project that will see Ringwood receive a facelift as the “gateway” suburb to Maroondah. With all these factors in mind, I am looking forward to a stronger real estate market in 2012.

If you would like further advice on the best time to sell in 2012, please contact our office for your free market appraisal and property report.

Best Regards,

Philip Webb, Director

Dec Q 2000 – Dec Q 2005 – Dec Q 2005 Dec Q 2010

No of dwelling units commenced (Vic) 225,859 221,535

Net Migration (Vic) 328,844 480,473

Change in median house price 38% 62%

Source: REIV Property Data

Metro Melbourne 10 year Median Prices$700,000

$600,000

Houses

Unit/Apts

$400,000

$500,000

$300,000

$200,000Source: REIV

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989 DONCASTER ROAD, DONCASTER EAST 139 MAROONDAH HIgHWAy, RINgWOOD 483 WHITEHORSE ROAD, MITCHAM

Everything they promised, they delivered. My experience with PhilipWebb Real Estate was exceptional. Everything they promised, they delivered.

the property sold within 4 to 5 weeks, which I understand requires a lot of hard work to do so in that time frame. Caroline Lyons was always communicative and it was great to receive a call from Philip Webb, Director, on auction day. It told me that everyone matters in Phil’s eyes and, as a business owner myself, it made a big impact on me. If you’re thinking of selling, I would recommend you speak to PhilipWebb.

Scott, Corriedale Crescent, Park orchards

During a review of their planning strategies the Department of Planning and Community Development (DoCD) identified the need to create several metropolitan and regional centres, allowing the people of Melbourne to move away from one centre (the Central Business District) to a number of centres, as the population continues to grow. As the juncture of several major arterial roads, the public transportation hub for the entire Outer-East and a gateway between the CBD and the yarra Valley, Ringwood was selected for development to become one of these centres or Central Activity Areas.Although the project series is still in its infancy, several residential, environmental and commercial works have already been completed including improvements to the Jubilee Park Sporting Complex such as the installation of the new “all-weather” synthetic soccer pitch and the construction of the Lakewood Apartments on Larissa Avenue.

It is an exciting time for Maroondah, with the first steps already taken in the multi-million dollar series of projects that will see Ringwood become one of Melbourne’s 7 Central Activity Areas outside of the CBD.

Minister for Planning, Matthew guy says the proposed developments for Ringwood are aimed at making the suburb and its surrounds a better place live, work, relax and visit. “The strategy will build on the existing areas and consider what we value about Melbourne in terms of its liveability and distinct characteristics.”The biggest of the proposed works is a $60 million upgrade of Ringwood Train Station and Bus Interchange to accommodate increasing commuter numbers and improve access for disabled users. While the works will not commence until 2014, Council and the State government have spent the past few months in consultation with Maroondah residents, attempting to reach a proposal for the station that will best serve the needs of the community.The developments will also feature a safety component, with work on a CCTV system directly linked to Ringwood Police Station

and additional pedestrian-activated traffic lights. Minister guy says the project focus is on residential, infrastructural and commercial development and will greatly improve the lifestyles of Maroondah residents. “Urban renewal and quality development in strategic locations are essential to meeting Melbourne’s future housing, infrastructure and employment needs. The government will continue to support Council with activities that make the most of Ringwood’s location and natural assets, and secure its place as a vibrant hub in Melbourne’s outer east.”

Maroondah makeover gets underway

Homes for lifeDoncaster 03 9842 1477989 Doncaster Road Doncaster East VIC 3109

Ringwood 03 8870 2888139 Maroondah Highway Ringwood VIC 3134

Mitcham 03 9874 3355483 Whitehorse Road Mitcham VIC 3132

If this property is exclusively listed with another agent, please disregard this communication. 5597-MAR

VACANCY RATES Oct Sept Aug Jul Jun May Apr Mar Feb Jan Dec Nov Oct 2011 2011 2011 2011 2011 2011 2011 2011 2011 2011 2010 2010 2010

MELBOURNE Inner (0-4km) 3.2 2.4 2.2 1.8 2.5 1.6 1.6 1.7 2.2 2.4 2.4 1.3 0.6 Inner (4-10km) 2.7 2.6 1.5 2.4 2.4 1.5 1.3 1.6 1.5 1.5 1.6 1.9 1.2 Inner total 3.0 2.5 1.7 2.2 2.4 1.6 1.4 1.6 1.7 1.9 1.8 1.7 1.0 Middle 5.0 3.0 2.4 2.6 2.1 2.0 2.0 1.8 1.6 2.3 3.1 1.9 1.8 outer 2.8 0.8 2.9 3.2 2.1 1.0 1.5 1.9 1.2 1.4 1.1 1.1 0.9

MELBOURNE TOTAL 3.9 2.4 2.3 2.5 2.2 1.7 1.7 1.7 1.6 2.0 2.3 1.7 1.3

A touch on the screen…your foot in the door.

View our latest properties.

Send to a friend.

Save inspection and auction times to your calendar.

Contact the agent.

All on your iPhone.

n Make it gleam! Professional cleaning, a little re-painting or a good tidy of the garden can make all the difference.

n Professional photography can make the most of every aspect of your property at a reasonable cost.

n Let as much natural light in as possible. Old heavy drapes or curtains can date a property quickly and make rooms seem dark or small.

3 quick tips to get your property moving

SOURCE: REIV

the rental market is performing very well… at least, that’s what we’re seeing at PhilipWebb! When we compare our vacancy rates against those issued by the Real Estate Institute of Victoria, our company are well ahead of the market indicators. While the October vacancy rate for Melbourne was 3.9%, our average measured 2.5%.Well priced, well presented properties are always popular and we’re now in our busiest time of year. This is when prospective tenants are seeking to establish their accommodation for the year ahead. We also receive an influx from larger numbers of students during this time. Now is an opportune time to consider leasing your investment property (or changing your property management service) and a great time to invest if you are looking to expand your property portfolio.

Call us on 9874 3355 for a free rental assessment of your investment property.

Sophie LyonBUSINESS PARTNER & gENERAL MANAgER Of PROPERTy MANAgEMENT DIVISION

Property Management with Sophie Lyon