Property Assignment

Assignment 1 (A-1)
Real-Estate Market Report and Property Analysis

Past assignment to use for new assignment

Local market data

Braybrook, 3019 is a suburb in Melbourne Victoria. There are several shopping centres where the Central West Shopping Centre, Braybrook Shopping Centre, and HomeCo Shopping Centre are located. Since most people like shopping within the nearest shopping centres within the location, they mainly attend Central West Shopping Centre as it is the nearest shopping centre and it offers a variety of commodities, which makes customers have an easy time when purchasing particular commodities.

Despite the area having several shopping centres, most shopping centres are not clustered. Since the shops are not clustered, each shop within the location can set its price, thus reducing competition of the businesses within the location. The road is the primary means of transport where most people within the location transport by private means of transport. This is essential as most people within the location can travel at any time they would like. (Arunachalam, 2017)

Most of the residents who live at Braybrook, 3019 VIC Australia, do not work within the estate but must work within the city. This is where they are required to use private means of transport to get to work on time, thus working comfortably at a particular schedule. Within the suburb there are several bus stops residents can take for public transport and the surrounding suburbs of Tottenham and Sunshine both have a train station which residents can also use. Within the suburb, there are various schools, including Dinjerra Primary School, Rosamond School, Braybrook Secondary College and Caroline Chisholm Catholic College. With all these schools within the local area, students can learn well, making them reputable people of the society.

The location of the Shopping Centres are in the core of the suburb which makes it so many people can go to various locations to do various activities, thus making the residents use them when they are not busy. Most shopping centres act as landmarks as most people living in Braybrook know where they are located easily and readily.

The estate has several unique factors such as schools, security, suitable topography, and most people living within the area are financially stable. Since there are several schools within the location, most people living within the location are likely to be educated, thus contributing positively to the location. Since there are several shopping centres within the location, most people will prefer living there as it will be very convenient for them to purchase various commodities from the shopping centres.

Most of the houses located within Braybrook, 3019 VIC Australia, are located individually, giving residents ample space for doing activities they would like. Secondly, some houses are not densely populated, which allows the owners to do a lot of activities such as parking their vehicles and other activities. The conditions of most of the houses within the location are good as maintenance teams inspect the houses regularly to ensure they are in good condition. (Phibbs, 2008)

When focusing on the topography of the location, the area has a suitable topography that is essential for exercising by the location's residents. The topography is suitable, with good roads that allow the residents to drive from their homes at any time. The environment's climate is considerable as there is sunshine during the day and it rains in various seasons, making the residents of the location enjoy a wide range of climatic conditions within the environment.

Maps

The main area known within the location is RecWest Braybrook, a sports complex facility where many sporting facilities are offered. This sports complex facility is one of the main recognized facilities within the environment as various people go there to watch various matches while other people go to play depending on the event they are participating in. There is also a Derrimut 24:7 Gym located in Braybrook, which also allows residents to have a facility to use for exercise and health purposes.

In and around Braybrook, there are several parks and beaches such as Braybrook Park, Williamstown beach, and Altona beach, one of the typical beaches within the location. The beaches are essential to the residents as most residents visit there whenever they are not active at work. Apart from beaches and parks, there are several foodie’s facilities within the environment, including the Mr. Brooks Stonegrill & Bar and Blue Bamboo Restaurant & Cafe, where the residents of the location might go to enjoy their lunch.

Residential properties in the area.

In Braybrook, 3019 VIC Australia, the primary residential property is multifamily residential houses. The multifamily residential areas are indicated as tall Houses that are free-standing and have several rooms.  Most of these residential facilities have several rooms, which indicates they can accommodate many people. Furthermore, most of them have parking environments where residents can part their vehicles when they are not in use. Residential property link

The residential property is indicated as a single unit. This unit can be used as an Airbnb as Airbnb operates as an online marketplace that offers various activities such as lodgings, tourism activities, primary homestays, and others. I believe that the residential house is composed of 1 bed room and a big living room that accommodate multiple guests who might have visited the area for vacation. Residential unit link

Both the House and the unit can be distinguished from other facilities in the area and they are built completely different from other buildings that are in the area. This makes it easier for the facilities to be easily identified by a new person in the environment thus making him/her to use the services offered in the facility. If the residential areas are similar to other buildings, it can be hard for new guests to spot them thus making it hard for them to be used depending on their primary purpose.

Professional and judicious process of locating, inspecting and selecting each property.

When selecting the property in the area, I had to search for the person responsible for all the facilities. If it is the multifamily residential area, I had to communicate with the facility's owner or worker, who would begin asking me about the reason I wanted to inspect a particular commodity. To prevent him from asking many questions, I would also tell him I am searching for a house to live in. Before I live in the house; I have to look for the services he/she is providing me with. The person in charge of the house had to take me to visit the residents by doing this.

When searching for the following residential facility, Airbnb, I had to visit the facility where I suggested that I was a tourist and wanted to sleep at the facility. I accessed this facility using an online platform where I searched for Airbnb facilities, and I was able to find one facility within Braybrook, 3019 VIC Australia. After using Google maps, they located the facility and visited there. This is where I verified that this was the Airbnb facility. Verifying the facility was essential as when I visit Braybrook, 3019 VIC Australia as a tourist, I will be able to find the best place to sleep.

Description of the property, including the land and the building

The main properties of the local area include the buildings and the land of the estate. The buildings of the local area were built and planned in a similar manner making the local area resemble an estate. Most of the shadows of the buildings are seen to overlay the land depending on the time of the day. The land is another property that is seen in the facility. Most of the land is green in color, a sign of vegetation. Roads in the location are tarmacked, making the road usable at all seasons. (Saugeres, 2008)

Why the unit House is likely to be rented.

The 1 bedroom House located at Braybrook, 3019 VIC Australia, is set aside for privacy purposes as most of them are set aside, and it is hard for one neighbour to know what the other person might be doing. Furthermore, most buildings have a good parking space that ensures security for the vehicles parked on the premises. Lastly, most houses are arranged on how it is easy for them to access the streets, which is a competitive advantage of houses within the premises. With these advantages, a person is likely to choose the house over other houses as it has more benefits. Furthermore, depending with the locations of the buildings and how they are made, they are seen to have more benefits compared to other buildings that are in the same area thus making citizens to prefer living on them.

Comparison of the property within the Australian residential property market.

A family residential house in my place costs around $554,693. On the other hand, the exact house costs around $806,817. When comparing my residential area and the Australian residential area, the Australian residential area is twice as expensive compared to where I live.

Reference

Saberi, M., Wu, H., Amoh-Gyimah, R., Smith, J., & Arunachalam, D. (2017). Measuring housing and transportation affordability: A case study of Melbourne, Australia. Journal of transport geography, 65, 134-146.

Hulse, K., & Saugeres, L. (2008). Housing insecurity and precarious living: an Australian exploration.

Seelig, T., Milligan, V., & Phibbs, P. (2008). Reconceptualizing housing need in the context of 21st century Australian housing policy.