Peter Rogozik Property Consulting: Your Buyers Advocate - Connecting People and Property

Editorial

Your Buyers' Advocate Newsletter Editorial (Issue 13)

Hello and welcome to Peter Rogozik Property Consulting six monthly newsletter. The Melbourne property market again gathered momentum mid 2009 which resulted in average price growth of around 15 percent. This increase precedes the peak of the market which occurred in November 2007 followed by a reduction in prices due to the effects of the global financial crisis.

We would like to welcome Karin Butterfield to our team. Karin has a wealth of experience in real estate having established her own executive relocation business. She has been involved in the real estate industry for the past 15 years. Karin has already successfully located several properties for our clients and is proving to be a great addition to our team.

The capital growth performance of the investment properties we have selected for our clients have performed remarkably well. During the last six months there have been 3 resales of these properties. I outline the amazing profit margins that our investor clients have enjoyed. Unfortunately I came across an incident of dummy bidding at an auction in Yarraville. This type of behavior is rare since legislation was enacted outlawing it back in 2004. In this edition I explain exactly what happened.
I have never agreed with the policies of financial institutions in relation to minimum floor areas of 1 bedroom apartments. These nonsensical policies make it more difficult for first time home buyers and investors to enter the market in a quality way. In this edition I explain in detail why this policy needs to be changed.

A little known fact is that at least 15 Australian children have died in incidents related to curtain and blind cords since the early 1990's. Children, particularly infants can die from strangulation after becoming entangled in loose curtain and blind cords since the early 1990's. Consumer Affairs Victoria is currently running an awareness campaign about this issue. In this edition we include an article outlining these tragic accidents.

As usual, in this edition we include our regular articles, Legal Chat by Andrew Padanyi and Market Snapshot. Andrew explains how a vendor can unwittingly create a terms contract with the resulting negative consequences. Market Snapshot outlines the recent past performance of the property market. We also present our opinion on future trends in the Melbourne market.

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