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WILLIAMS LANDING Williams Landing Is a Newly Established Suburb in Melbourne’S West, Located a 20 Minute Drive from the CBD

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WILLIAMS LANDING Williams Landing Is a Newly Established Suburb in Melbourne’S West, Located a 20 Minute Drive from the CBD MARKET OUTLOOK WILLIAMS LANDING Williams Landing is a newly established suburb in Melbourne’s west, located a 20 minute drive from the CBD. WILLIAMS LANDING ACCOMODATES ALL THREE OF THE URBIS FUNDAMENTALS THAT MAKE A SUSTAINABLE SUBURB - POPULATION, INFRASTRUCTURE AND EMPLOYMENT. Prepared exclusively for Cedar Woods Properties September 2016 Top: Shopping centre; Left: Parks and recreation space; Right: Train station 01 PROXIMITY & AMENITY WILLIAMS LANDING IS LOCATED IN Melbourne’s west is experiencing significant population growth. The area’s proximity to the CBD with good road and MELBOURNE’S WEST. RESIDENTS HAVE rail connections has increased its desirability, encouraging EASY ACCESS TO MELBOURNE’S CENTRAL change within the area as old industrial and greenfield sites BUSINESS DISTRICT VIA ROAD AND RAIL LINKS. are converted to residential uses, driving population growth. Recent upgrades to public transport infrastructure and more particularly the development of new railway stations have supported this shift. Melbourne CBD Lawrie Emmins Reserve RAAF Golf Course SAYERS RD Williams Landing Town Centre PALMERS RD Oxford Apartments Newton Apartments Federation bike trail Williams Landing ASHCROFT AVEShopping Centre FORSYTH RD 2 Market Outlook Williams Landing Why Melbourne? In August 2016 the Economist Intelligence Unit voted Gallery of Victoria, Arts Centre Melbourne, Queen Victoria Melbourne as the World’s Most Liveable City for the sixth Market, Royal Botanic Gardens, the Royal Melbourne Zoo consecutive year. The ranking recognises Melbourne’s and Werribee Open Range Zoo. health, education and infrastructure facilities, along with The city hosts various global events annually including the city’s culture, clean environment and political stability. the Melbourne Formula One Grand Prix, the Australian As a tourism destination, Melbourne attracted 2.4 million Open Tennis Grand Slam and the Melbourne Cup Horse international visitors in the year to March 2016. Tourists Racing Carnival. These events contribute to Melbourne’s come to visit notable destinations such as; the National reputation as a destination for sports and culture. Highway/Freeway Williamstown Train station Port Phillip Bay Bike path Williams Landing 275 Ha Total Area 55 Ha Conservation Reserve 15 Ha Parks & Recreation Area 50 Ha Masters Princes Fwy Town Centre Drive time: Woolworths 20 mins to CBD 21 Specialty Shops FREEWAY INTERCHANGE PALMERS RD Medical Centre & Pharmacy Williams Landing Train Station Masters Train time: 28 mins Point Cook Town Centre – 1km 2 levels (Express to Southern Cross station) of office space 19km PRINCES FWY Conservation to Melbourne CBD Reserve & wetland Future Entertainment Offices Accomodation Aged Care Additional Health & Medical Facilities Prepared exclusively for Cedar Woods 3 02 MELBOURNE’S WESTERN SUBREGION THIS SUBREGION IS ESTIMATED New residents Capital City comparison, 2010-2015 TO REQUIRE SOME 155,000 500,000 450,000 420,000 ADDITIONAL DWELLINGS BY 2031. 400,000 370,000 350,000 300,000 260,000 Greater Melbourne experienced the largest population 250,000 200,000 growth of all Australian capital cities between 2010 and 200,000 2015, adding 420,000 residents. Migration arrivals into 150,000 100,000 Victoria played a major part of this population growth with 60,000 50,000 30,000 10,000 10,000 53% of new residents coming from overseas. 0 MEL SYD PER BRI ADE CAN HOB DAR Source: ABS Western subregion to 2031 The Victorian State SUNBURY Government’s planning CRAIGIEBURN strategy, Plan Melbourne, sets out the plan for future growth. The Western m Subregion is expected to k 0 4 accommodate some 1.1 m million people by 2031, an k 0 increase of approximately MELTON 3 BROADMEADOWS 400,000 from today’s GLADSTONE PARK population of 700,000. SYDENHAM TULLAMARINE GLENROY There are many infill and AIRPORT WEST greenfield areas that will NIDDRIE - accommodate the growing CAROLINE SPRINGS KEILOR RD NORTH ST ALBANS ESSENDON COBURG population of the west. BRIMBANK ESSENDON Williams Landing is one MOONEE BRUNSWICK PONDS of the closer areas to the DEER PARK HIGHPOINT ASCOT VALE - UNION RD SUNSHINE Melbourne CBD that will PARKVILLE accommodate a sizeable FOOTSCRAY proportion of this growth, m WESTERN k MELBOURNE with the majority of other 0 SUBREGION 2 ALTONA NORTH greenfield areas being a TARNEIT further distance from the WILLIAMS CBD. 1 LANDING 0 WILLIAMSTOWN ALTONA k WERRIBEE m MANOR LAKES PLAA HOPPERS POPULATION CROSSING GROWTH EAST WERRIBEE WERRIBEE CENTRAL EMPLOYMENT PRECINCT 400,000 WERRIBEE PLAN MELBOURNE DWELLING METROPOLITAN ACTIVITY CENTRE - EXISTING REQUIREMENT ACTIVITY CENTRE - EXISTING AND FUTURE WESTERN SUBREGION 155,000 Source: Plan Melbourne 4 Market Outlook Williams Landing 03 DEMOGRAPHICS & EMPLOYMENT Population Demographics Williams Landing was previously an aviation base and was Compared to Greater Melbourne, Williams Landing is home to only 700 residents. From 2008, the aviation base characterised by a younger demographic who are typically was sub-divided and lots became available for people to living with a partner and are likely to have children. On build a new home. This precipitated a boom in population, average, households have high incomes which have increased with the suburb increasing to some 6,200 residents. Over significantly from 2006. Additionally, the proportion of white the next decade, it is expected that the population will collar workers in Williams Landing is now consistent with the grow to over 10,000. average for Greater Melbourne at 72%. Who lives in Williams Landing? Population forecast Williams Landing Key demographic Williams Greater 12,000 (2011) Landing Melbourne 10,300 10,000 9,400 Aged 20-34 39% 23% 8,000 Average household income $102,737 $86,412 6,200 6,000 White collar workers 72% 72% 4,000 Asian born 30% 12% 2,600 2,000 Source: ABS, Urbis 700 0 WILLIAMS LANDING HAS A GROWING 2017 2011 2013 2015 2021 2019 2025 2023 2001 2007 2005 2003 2009 POPULATION THAT IS CHARACTERISED Source: ABS, ForecastID, Urbis BY YOUNG FAMILIES AND HIGH HOUSEHOLD INCOMES. Employment Jobs growth Current jobs - western subregion In 2014, the Western Subregion supported over 173,000 jobs. By 2031 it is anticipated that the area will support Future jobs approximately 110,000 additional jobs. National 263,100-298,100 Employment Clusters in East Werribee and Sunshine are emerging to become significant areas for supporting future jobs. These employment clusters include a range of employment opportunities in a variety of industries as well as education facilities, which are supported by good infrastructure networks. Jobs in 2014 Growth to 2031 East Werribee has a focus on health, education and high- 173,100 90,000-125,000 tech research jobs. Sunshine will see a focus on tertiary education, health-related training, healthcare, retail and professional services, and facilitation of private investment. The Williams Landing Town Centre will also play a significant role in supporting more than 5,000 of these future additional jobs in the Western Subregion. Source: Plan Melbourne Prepared exclusively for Cedar Woods 5 04 RESIDENTIAL MARKET THE LOW MORTGAGE RATE ENVIRONMENT HAS SPURRED ON MELBOURNE’S RESIDENTIAL PRICES OVER RECENT YEARS. Median rent Median weekly rent growth City of Wyndham - year to March 2016 The City of Wyndham Local Government Area has experienced good growth in median weekly rent for houses and apartments/units at 6.1% and 5.4% respectively over HOUSE 6.1%P.A. the year to March 2016. Weekly median asking rent for houses in Williams Landing registered $410 for the year to March 2016. This is 17% APARTMENT/UNIT 5.4%P.A. above that of the median asking rent for the City of Wyndham, indicating the premium that Williams Landing Source: APM Price Finder; Urbis attracts over its neighbouring suburbs. Median price House - median asking rent premium Comparing the most recent quarterly data on the median house price for Williams Landing against the surrounding suburbs, it is evident that Williams Landing has one of the WILLIAMS LANDING highest median house prices of the local area, at $496,000. VS WYNDHAM LGA 17% This is significantly above that of the City of Wyndham Local Government Area which registered $400,000. Williams Landing has also experienced significant long term median Source: APM Price Finder; Urbis price growth of 13.7% per annum over the decade. Interest rates Median house price growth Williams Landing In August 2016 the Reserve Bank of Australia (RBA) dropped the cash rate to its historical low of 1.5%. This has led to mortgage rates concurrently dropping 10 YEARS TO MARCH 2016 to historical lows, with standard variable rates below 6%. This has precipitated a favourable environment 13.7%P.A. for borrowers, who continue to benefit from a low cost of finance. Source: APM Price Finder; Urbis Interest rates Cash rate & home loan rate 10% Home loan rate 9% RBA cash rate 8% 7% 6% 5% 4% 3% 2% 1% 0% JUL 2011 JUL 2014 JUL 2012 JUL 2015 JUL 2013 JUL 2016 JUL 2010 JUL 2007 JAN 2011 JAN 2014 JAN 2012 JAN 2015 JAN 2013 JAN 2016 JUL 2008 JUL 2006 JUL 2009 JAN 2010 JAN 2007 JAN 2008 JAN 2009 Source: RBA 6 Market Outlook Williams Landing 05 CASE STUDY A Case Study: Caroline Springs WILLIAMS LANDING REGISTERED A Caroline Springs is located to the north of Williams Landing, 24% MEDIAN HOUSE PRICE PREMIUM 21km from the Melbourne CBD, and provides an example of a suburb that has recently been developed from greenfield OVER THE CITY OF WYNDHAM. land. Caroline Springs is further along in its development cycle and as such has a sizeable stock of apartments. Median house price premium 12 months to March 2016 Comparing the two suburbs with their surrounding areas, in this case the Local Government Areas of Melton and Suburb price premium Suburb price premium Wyndham, respectively both suburbs show a premium for 32% 24% their housing stock over their respective local areas.
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