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EditorialYour Buyers' Advocate Newsletter Editorial (Issue 11)Hello and welcome to our six monthly news letter. The quality sector of the Melbourne property market has remarkably held its value in the midst of the international financial crisis. This has been particularly so at the lower end of the market. In fact over the previous 3 months this segment has increased in value by about 10%. I believe it is always a shrewd strategy to purchase an investment property at the lower end provided it ticks the boxes of what constitutes a quality property. 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. Recently there have been some changes to the rules governing foreign investment in Australia. These rule changes have made it easier for foreign nationals and permanent residents to purchase Australian property. I explain some of the more important changes that have occurred. Often a property buyer’s perception of what is a bargain is totally flawed. I explain the difference between buying a mediocre performing investment as against a genuine bargain. Having personally completed a number of low density building projects, in this edition I outline my top ten tips. Building a home presents many potential traps and pitfalls, my tips are essential reading for anyone about to embark on such a demanding process. As usual, in this edition we include our regular articles, Legal Chat by Andrew Padanyi and Market Snapshot. Andrew explains the recently introduced changes to the contract of sale of land used in Victoria. These changes are a step in the right direction and will result in fairer outcomes for both buyers and sellers. 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.
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