MINUTES AWAY ALL WEEK... MILES AWAY ALL WEEKEND

No wonder it is described as a little bit of paradise only 45 minutes away from the Melbourne CBD all week... and miles away all weekend. Berwick has a lifestyle that’s hard to beat. A picturesque community, steeped in history, yet full of amenities that every family needs. At the gateway to the Dandenong Ranges, Phillip Island, Gippsland and the Mornington Peninsula. Berwick is renowned for its own village café atmosphere and the quality of surrounding educational and shopping facilities. SHOPPING With the charm of yesteryear, a diversity of gift, specialty stores, boutiques and delightful cafes the area is full of character and interest. Shopping facilities also include the nearby famous Fountain Gate Shopping Centre.

EDUCATION
The Berwick Campus of renowned Monash University is but one of several important educational facilities such as:

• Chisholm Institute of TAFE -Casey Campus
• Haileyberry College - Berwick Campus
• Berwick Primary School
• Brentwood Park Primary School
• Berwick South Secondary School

RECREATION
Magnificent parklands and recreational areas abound including Wilson Botanic Park, Sweeney Reserve, Manna Gum Picnic area, Akoonah Park, Berwick Showgrounds, and Casey ARC swimming and recreational centre and playgrounds.

TRANSPORT
Fast road and rail access is one of the important attributes of Berwick. Just 45 minutes drive to the CBD and Beaconsfield, Berwick and Narre Warren Train Stations all conveniently located.

Location
Berwick sits within the City of Casey an area 40 km south east of the Melbourne GPO, at the juncture of cosmopolitan, urban Melbourne, and rustic rural Gippsland.
More a true city in itself than just an extension of Melbourne’s outskirts, Casey has emerged as a prime hub of Melbourne’s massive south east economic region. Though one of the oldest settlements in Victoria the area is consistently among the fastest growing in Australia.

Population and Environment
The City of Casey has matured to become a significant municipality in its own right with a population of about 220,000 residents. In keeping with the influx of new residents, the area is largely populated by 25-44 years, with these residents (aged under 14 years) also numerous. Together these two demographic groups account for over 50% of the Berwick population. There are a mix of both white collar and blue collar workers in the area, with the workforce principally made up of tradespeople, and also clerical, sales and service workers. Residents in the area enjoy median household incomes above the greater Melbourne average.

Home ownership rates are very high (81% v 70% for greater Melbourne), with the landscape dominated by detached homes (over 90% of dwellings). Commensurate with a population of this size, the area is also host to a wealth of amenities and infrastructure:
Transport: Casey is serviced by a network of highways, including the Princes Highway and the South Eastern / Monash Freeway (providing access to the CBD) and the Western Port Highway and South Gippsland Highway (linking Casey to regions further to the southeast).
Movement in and around Casey is also aided by two train lines (Cranbourne and Pakenham) which provide routes within the area, the CBD and surrounds. Health care: Casey Hospital opened in 2004 and a public community hospital providing inpatient medical, surgical and obstetric services, ambulatory care and emergency care, mental health and sub acute services to its local community Education: The Berwick campus of Monash University and the Casey Tafe, in addition to a number of public and private primary and high schools re located in the area.

Retail: The city boasts a range of retail facilities including the Westfield Fountain Gate Shopping Centre as well as the Fountain Gate Super Centre. Berwick is also serviced by the Berwick Village High Street precinct. Employment: The city of Casey is home to more than 6,000 businesses, with a Business Profile undertaken in 2004 concluding that the area continues to attract business to relocate to the area from other parts of Melbourne. Berwick is the third largest employment node in Casey.

Population Growth
For the last five years, the City of Casey, which includes Berwick has enjoyed the greatest degree of population growth in Victoria. On a national stage, only Brisbane and the Gold Coast have enjoyed greater population growth. The City of Casey has been growing at an average rate of about 8,500 people per year or about 55 families a week. Berwick is growing at a faster rate than Casey, having averaged a population growth rate of just under 8% over the last five years. The growth in Berwick itself translates into about 25 families per week.

Land and Housing Development
Casey’s housing market is dynamic, with on average around 3,000 new lots brought to the market per year.
New houses in Berwick have shown strong price growth, with median values increasing on average by about 15% per annum. The median new house price in Berwick for the financial year 2004-05 was approximately $355,000.

As well as enjoying price growth, Berwick has also seen the market mature, with strong growth evident in the top end over this time. Of 300 homes currently on the market, over 20% are priced above $400,000. In the year 2000-2001, no new homes sold within this price band.

Rental Market
New homes in Berwick are currently listed at rents of between $290 - $320 per week. There is growing evidence of properties with rents in excess of $400 per week in the market.
Comparing the median rent and the median new house value shows a typical rental yield of 4.0-4.5% (gross return). Despite the level of new development activity taking lace in Berwick, new rental homes in the area are rare. A sample of 44 homes for rent in the market reveals that only 8 of these are new. New homes also achieve a price premium of about one third over the established house market rental.

Future Planning
Population forecasts for the city suggest a total population of greater than 300,000 residents by 2021, making the area the 5th largest municipality in Australia. By this time, it is also thought that the City will have reached land and population capacity.

In order to manage the enduring population growth in the area, while maintaining the purity of the area’s natural resources, and ensuring that the built environment and community values are upheld, the City of Casey has been proactive in developing long term plans - a 21C strategy. The implications of this document include: - introducing higher density dwellings (up to one in three) around activity nodes. However, - Berwick has been identified in this strategy for preservation as a low density township with an enduring, green tinged feel. On going demand for land, and the increasing rarity of environments such as Berwick should underpin the price growth history already enjoyed.

Population & Demographics
Population (June 2004):
Berwick – 63,028 City of Casey – 84,706 Melbourne (SD) – 3,600,080
Population Growth
(since June 2000): Berwick – 7.6% per annum City of Casey – 4.7% per annum Melbourne (SD): 133,233 (0.9% pa)
Forecast Population Growth (to 2021)
Berwick – 4.7% per annum City of Casey – 2.8% per anum Melbourne (SD): 0.9% per annum
Population Base:
Mid 20s to early 40s and early teen and younger children.
Market Position:
Growth hub of an emerging economic region in Melbourne’s south east. Dynamic population growth, ongoing development opportunities, strong employment base. High level of infrastructure, continuing development.

Price Growth
New house average (2000 – 01): $195,000
New house average (2004-05): $355,000
Average price growth per annum (new house 00/01-04/05): 15%
Rents and Returns
Current new house asking rent: $290-$320 per week
Current new house return: 4.0-4.5% (gross return)
Market Supply
- Expectation growth rate will bring about land shortages within 20 years.
- Growing focus on pockets of higher density housing Rates of uptake
- Average of 3,000 new house lots added to the market per year
Market Highlights:
- Casey continually one of the fastest growing cities in Australia
- Area supports a range of age groups and household types - Site of significant amenity and infrastructure such as new hospitals , retail and educational facilities
- Maturing and diversifying market
- Population growth placing pressure for increased density in some areas