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Editorial

Your Buyers' Advocate Newsletter Editorial (Issue 10)

Hello and welcome to our six monthly newsletter. The Melbourne property market is once again on the move forward.  Last year we saw an unprecedented phenomenal price increase followed by a correction downwards by approximately 10% in the first half of 2008. Since the announcement of the reduction in interest rates in the second half of this year the Melbourne market has noticeably increased in activity. The quality segment of the market is almost at the same price point as it was when the market peaked in November of 2007.

As mentioned in our previous newsletter we have introduced property management to our service offering I believe we have definite added value benefits to offer all landlords. These benefits are set out in this edition. I encourage all landlords to contact me to discuss how we can maximize the return on their investment. Being a boutique firm I guarantee all property owners a high level of personal service. This edition also includes an article outlining the current state of the Melbourne rental market. I have personally witnessed the strength of the rental market. Our open for inspections has attracted a large number of prospective tenants and these properties have been let with in a few days of being listed.

The sub floor is such a critical component of a building. In this edition I talk about the many substandard restumping jobs I have inspected. It is one of the most common building faults. I provide some tips to avoid costly rectification works. 

As usual, in this edition we include our regular articles, Legal Chat by Andrew Padanyi and Market Snapshot. Andrew outlines the intricacies of nominating a different purchaser on a contract of sale. His insights on this subject will be invaluable information to all property buyers.  Market Snapshot outlines the recent past performance of the property market. We also present our opinion on future trends in the Melbourne market.

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.

Peter

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