Point Cook: Overview

Point Cook is bounded by the Melbourne-Geelong railway line, the Princes Freeway, the City of Hobsons Bay, Crellin Avenue South, St Anthony Court, Machair Drive, Dunnings Road, Point Cook Road, Tournament Drive, Evening Close, Scenic Drive, Lowes Lane, Fawkner Way, Crystal Court and Skeleton Creek in the north, Port Phillip Bay in the east and south, and the western boundary of the RAAF Williams Point Cook Base, Aviation Road, the drain, Hacketts Road, Sneydes Road and the Princes Freeway in the west.

Home Loan Comparison

Point Cook is a great suburb for families, but not really for young singles. When I first moved from Prahran to Point Cook, it felt like nothing in Point Cook. I missed the crowd and the fun of city life. But when I have a family, it feels like everything can be found in Point Cook.  Medical centers, supermarkets, shops, Asian groceries, playgrounds, parks, schools, etc. It is really convenient if you drive. If you don’t drive, Point Cook would be inconvenient, with walking score of 44 (source: Walkscore.com) places Point Cook at 248th position amongst Melbourne.

You can rent a new house, starting from only around $360 pw for a 3 or 4 bedroom house.

Facts:

Land area: 3,876 ha (source: Profile.id.com.au)

Usual resident in Point Cook according to 2016 Census: 49,942. ABS estimated resident population 2017: 56,664.

In 1996 there were only around 700 people lived in Point Cook.

Distance to city: 21.8km

Nearest train station: Williams Landing or Hoppers Crossing, depending which side of Point Cook.

Median house price: $637,000 (as in April 2018 according to realestate.com.au). Median price for 4 bedroom house $680,000, and 3 bedroom house is $572,000.

Median rent: $405 pw for 4 bedroom house, $380 pw for 3 bedroom, and $340 pw for 2 bedroom house.

According to 2016 Census:

Number of dwellings in Point Cook: 17,010 dwellings

Average people per household 3.2
Median weekly household income $2,047
Median monthly mortgage repayments $2,000
Average motor vehicles per dwelling 1.9

The median age of people in Point Cook (State Suburbs) was 32 years. Children aged 0 – 14 years made up 28.0% of the population and people aged 65 years and over made up 4.6% of the population.

Of people in Point Cook (State Suburbs) aged 15 years and over, 62.1% were married and 8.1% were either divorced or separated.

The most common ancestries in Point Cook (State Suburbs) were English 15.7%, Australian 13.2%, Chinese 11.3%, Indian 10.0% and Irish 4.8%.

In Point Cook 48.4% of people were born in Australia. The most common countries of birth were India 9.1%, China (excludes SARs and Taiwan) 6.4%, New Zealand 4.0%, England 3.2% and Philippines 2.1%.

51.1% of people in Point Cook only spoke English at home. Other languages spoken at home included Mandarin 8.4%, Hindi 4.4%, Cantonese 2.3%, Indonesian 1.6% and Punjabi 1.6%.

The most common occupations in Point Cook included Professionals 25.5%, Managers 15.4%, Clerical and Administrative Workers 15.2%, Technicians and Trades Workers 11.0%, and Sales Workers 9.6%.

On the day of the Census, the most common methods of travel to work for employed people were: Car, as driver 61.4%, Train 7.8% and Car, as passenger 5.2%. Other common responses were Worked at home 5.1% and Train, car as driver 3.0%. On the day, 17.1% of employed people used public transport (train, bus, ferry, tram/light rail) as at least one of their methods of travel to work and 72.3% used car (either as driver or as passenger).

Of occupied private dwellings 0.2% had 1 bedroom, 3.8% had 2 bedrooms and 29.0% had 3 bedrooms. The average number of bedrooms per occupied private dwelling was 3.7.

Of all households in Point Cook, 87.5% were family households, 10.1% were single person households and 2.4% were group households.

9.2% of households had a weekly household income of less than $650 and 23.9% of households had a weekly income of more than $3000.

Point Cook: Investment Analysis

Many so-called ‘Property Experts’ had been saying to avoid investing in Point Cook. They did not know what was happening in Point Cook. They only made their judgment based on the past. Yes, Point Cook had vacant land everywhere, and yes there were only 2 roads connecting to the highway. But that was not the case in the last 2 years.

It is amazing to see how quick houses were built in Point Cook. Many of the estates in Point  Cook set a one-year deadline for the purchasers to complete the construction. The land supply was absorbed well by the rapid population growth. Within a year (2016 to 2017), there were around 6722 new people living in Point Cook. That is almost similar to the number of people living in Parkville (7,409 people according to 2016 Census)! Many immigrants who come from China and India, as well as other parts of Asia, prefer newer built houses than old houses. “Higher-income professional migrants of higher socioeconomic status now tend to live close to each other in the suburbs, rather than in more traditional migrant settlement areas” as stated in this article.

Furthermore, those ‘property experts’ compare Point Cook with established suburbs which are smaller in size. The size of Point Cook is actually almost twice as big as the size of City of Yarra (Abbotsford, Richmond, Clifton Hill, Collingwood, Cremorne and Burnley, Fairfield – Alphington, Fitzroy, Fitzroy North, Carlton North – Princess Hill, and North Richmond). The total area of those 13 suburbs is 1,953 ha, whereas Point Cook’s size is 3,876 ha (source: profile.id.com.au). So no wonder if there are so many properties in Point Cook compared to other suburbs.

Even though there are 243 properties for rent on the market at the time this article is written, the vacancy rate in Point Cook is only 2.1% (source: SQM Research). The vacancy rate is lower than the vacancy rate in Sydney which is sitting at 2.3%, despite the fact many people believe Sydney has rental shortages.

In terms of housing tenure, 65% of households were purchasing or fully owned their home, 28.5% were renting privately, and 0% were in social housing according to 2016 census. Moreover, Point Cook has more high-income earners than the average for Victoria and Australia. 23.9% of households in Point Cook had a weekly income of over $3000 in 2016. The percentage of high income earners in Point Cook is above the average in Victoria and Australia, and is similar to Hawthorn in which the median house price was $2,410,500, where 27.7% of households earning over $3000 weekly.  There were more BMW owners in Point Cook than in Toorak (Herald Sun 2015).

With rapid population growth, high proportion of owner occupiers and high income earners, made Point Cook an attractive investment. Especially with East Werribee plans, and becoming more limited land supply. There were around 8 new estates with land release last year. And now only 3 estates left towards their final stage of release. The other 5 have sold out their land lots. As land becoming more scarce, developers have the power to increase their land prices a lot. 512 sqm off the plan land was sold for $458,000 in July 2017, and now (April 2018) 512 sqm is selling for $586,000. That equals to $128,000 increase within less than a year. According to SQM managing director Louis Christopher, house prices in Point Cook soared 42 per cent in the city’s southwest in the year 2017 to September 2017 made Point Cook the nation’s best performing region for house price growth in the past year (source: news.com.au). Point Cook also was the top search suburb in Australia by Chinese buyers (source: news.com.au)

With the current price and current lending situation, the price growth might not as much as last year. But compared to Doncaster (15 km to city) whose 350sqm new release land are selling for $970,000-$1,000,000, Point Cook is still much more affordable and therefore has the capital growth potential in the long term. Median price in Point Cook in April 2018 was $637,000 according to realestate.com.au. This is still below the median house price in Melbourne, which was $903,859 in February 2018 (source:domain.com.au).

Estates in Point Cook

The Boardwalk – The estate surrounds Point Cook Town Centre. The estate and Point Cook Town Centre was developed in around 1998 by Development Victoria (Victoria State Government), who now is developing Cirq Point Cook (townhouses) and Riverwalk in Werribee.

Sanctuary Lakes – Exclusive estate established in around 1995 (with some houses built in around 2015). It has gated clusters and some houses have direct access to the lake. At this point of time (May 2018) house price range from $570,000 up to $2,655,000, highest price for a house in Point Cook. It is located on the east side of Point Cook Road. Sanctuary Lakes is equipped with Greg Norman golf course, gym and pools, even private ones in some clusters. So don’t be surprise with the body corporate fees. Sanctuary Lakes has been trying to be a suburb of its own, separated from Point Cook.

Willowgreen
Newminster
Point Cook Gardens
Lincoln Heath
The Greens
Innisfail
Monterey Central
Karinya
Hacketts Rise
Waterhaven
Alamanda
Featherbrook
Parkbrook
Saratoga
Esperance
Catalina
Life
Paragon
Saltwater Coast
Point Cook Village (retirement village)
Kingsford
Addresse
Upper Point Cook
Point Cook 30-30

Schools in Point Cook and Surrounds

Shopping in Point Cook

  • Point Cook town centre (Woolworths, Coles, Aldi, Target are here)
  • Featherbrook shopping centre (Woolworths is here)
  • Sanctuary Lakes shopping centre (Coles and K-mart are there)

Bank branches in Point Cook

  • Commonwealth Bank (at Point Cook town centre)
  • Westpac Bank (at Point Cook town centre)
  • NAB (at Point Cook town centre)

Medical centres in Point Cook  and surrounds

Point Cook Medical Centre
Medical Center · 1-11 Dunnings Rd
Open ⋅ Closes 8PM

Boardwalk Health Medical and Skin Centre
Medical Center · 110 Boardwalk Blvd
Open ⋅ Closes 8PM

Arrowhead Medical Centre

Medical Clinic · 5 Cinnamon Grove
Open ⋅ Closes 9PM
Boardwalk Specialist Centre
No reviews
Medical Center · 54 Boardwalk Blvd
Open ⋅ Closes 7PM
Myhealth Medical Point Cook
3.1
(30)
Medical Clinic · 225/229 Sneydes Rd
Open ⋅ Closes 7PM
Point Cook Superclinic
2.4
(67)
Medical Clinic · Point Cook Shopping Centre, 101/7 Main St
Open ⋅ Closes 6:30PM
Guardian Medical
3.1
(8)
Medical Clinic · Sanctuary Lakes Shopping Centre, 33/300 Point Cook Rd
Open ⋅ Closes 7:30PM
Medical Centre
2.0
(1)
Medical Clinic · 5 Main St
Open ⋅ Closes 8PM
JUNIPER AVE MEDICAL CENTRE
4.9
(11)
Family Practice Physician · 2 Juniper Ave
Open ⋅ Closes 9PM
InnerCare Family Health Clinic
3.3
(18)
Medical Clinic · 3/28 Adelphi Blvd
Open ⋅ Closes 5:30PM
Wyndham Private Medical Centre
3.0
(9)
Hospital · 242 Hoppers Ln
Open ⋅ Closes 11PM
Sanctuary Lake Medical Practice
4.0
(8)
General Practitioner · 11/13 Jamieson Way
Open ⋅ Closes 4PM
Wallace Avenue Specialist Suites
3.0
(2)
Medical Center · 122/22/30 Wallace Ave
Closed ⋅ Opens 9AM Sat.
Pinnacle Medical Centre
3.6
(23)
Medical Clinic · 8/100 Overton Rd
Open ⋅ Closes 7PM
Addis Medical Centre
5.0
(6)
Medical Center · 61/63 Heaths Rd
Open ⋅ Closes 9PM
Medical Centre 291
4.2
(9)
Medical Clinic · 291 Princes Hwy
Open ⋅ Closes 8PM
Radiology Imaging Solutions
2.2
(15)
Medical Diagnostic Imaging Center · Building 2/1 – 11 Dunnings Rd
Open ⋅ Closes 5:30PM
Mossfiel Medical Centre
3.3
(10)
Medical Center · 166 Heaths Rd
Open ⋅ Closes 6PM
Laverton Medical Centre
4.8
(9)
Medical Clinic · 3/8 Neville Ave
Open ⋅ Closes 6PM
Palmers Medical Centre
3.1
(60)
Medical Clinic · 228A Sayers Rd
Open ⋅ Closes 11PM