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Editorial

Your Buyers' Advocate Newsletter Editorial (Issue 4)

Hello and welcome to Peter Rogozik Property Consulting six monthly newsletter. For the first time in many years we have experienced a downturn in the property market over the previous twelve months. In some instances prices have reduced by as much as ten per cent. For those of us who have been involved in the property industry over the long haul this phenomenon is nothing new. A downturn is a normal part of the cycle. Since the federal election the market has noticeably increased in activity. I believe the cycle has bottomed and we are now once again experiencing moderate price growth.

Why is it that some properties have been relatively unaffected by this current downturn? Properties in quality locations with unique features have defied the current downturn and either held their price or in some cases continued to appreciate. We at Peter Rogozik Property Consulting are experts at identifying these quality properties. We will examine a property from a real estate, building and legal perspective. This thorough examination results in our clients purchasing the best possible property.

In this issue we outline the top dozen performing suburbs in Melbourne in relation to growth in median price over the previous 10 years. Some of the percentage increases have been quite astounding. Property development has become a favorite pastime of many Australians over the last few years. And why not? The opportunity of being creative and making a healthy profit are two good reasons. We outline some of the important steps that are required when undertaking a development. The process is fraught with traps and pitfalls, unfortunately most people are not successful when attempting such a demanding project.

During these less buoyant times we are all looking at ways of saving money. One area I believe that most people can make huge savings is in relation to their mortgage. We outline five simple strategies of saving substantial amounts off your home loan repayments. As usual, in this edition we include our regular articles, Legal Chat by Andrew Padanyi, Market Snap Shot and our investment tip. Andrew’s article examines changes made by the State Revenue Office in relation to purchasers owning a property in differing proportions. “Investment Tip” looks at some of the important issues that need to be examined before purchasing an investment property.

Please feel free to contact us if you have any questions in relation to real estate or building matters. Also, if there is a specific topic you would like covered in our next newsletter, we would like to hear from you.

Regards,

Peter

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