Home Buyer Fund; friend or foe?

The Victorian Homebuyer Fund (HBF) is an initiative by the Victorian government to financially assist eligible home buyers enter the property market. According to the banks that are administering the scheme it is proving to be extremely popular. On first impressions the scheme appears to be generous as the government provides an interest free loan…

Property Market Review - by Peter Rogozik

Property market review

The state government commissioned a review into the Victorian property industry. All stakeholders  were invited to participate by making recommendations as to ways of making the property industry better and fairer for everyone. I provided a submission, below are my 12 recommendations. 1. The regulators of the real estate industry in Victoria are Consumer Affairs…

Show me the permit!

Before signing on the dotted line buyers should make sure the property owner has obtained all the required building permits for works that have been completed. The new owner becomes responsible for any illegal works, this could mean costly rectification. If the vendor has undertaken works on the property as an owner builder that were…

Buying brand new – beware!

Before purchasing a brand new property, buyers should always research what materials, products, fixtures and fittings have been used during construction. It is not enough to rely on the building drawings or even the specification document. A case in point is the cladding fiasco that has cast a shadow over the Victorian building industry. After…

Editorial – October 2022

I would like to take this opportunity to thank my small but loyal following of clients. I provide independent, unbiased property advice, your support has allowed me to continue to assist a wide range of people who otherwise would have made inferior property decisions. Quality property advice means you buy the best fit property at…

Market snapshot – October 2022

It certainly doesn’t pay to be over confident when it comes to the Melbourne property market. In a short period of time market conditions can change dramatically. It was November last year when I left a message with a real estate agent requesting an inspection of a property. The agent in question didn’t return my…

Ban the bribe

Donations to political parties by property developers should be banned. Successive Victorian governments have caved in to the powerful and affluent interests of those property developers that have lined their pockets through donations. I have always considered Melbourne one of the great cities of the world: sophisticated and consisting predominately of a combination of low-rise…

The building report

The building report

There are several different types of building reports available to property buyers. It is important that buyers commission the report that best fits the type of property they are considering. The most common report requested by residential buyers is the pre-purchase building and pest inspection report. This report is useful when buying an established class…

Capital Growth Performance

The following are examples of capital growth performance of properties I have selected for clients. All properties are situated in inner Melbourne suburbs; Date of Purchase Buying Price Date Sold Selling Price Time Held Gross Profit Property 1 12-5-2006 $347,000 22-3-2014 $565,000 7 years 10 months $218,000 Property 2 9-3-2007 $435,000 14-11-2009 $593,000 2 years…

Attributes of a quality asset

Blue chip residential investment real estate has all the attributes of what a quality asset should have. The primary attribute is that it must double in value within a relatively short period of time.This overrides all other important ingredients.The optimum residential property selection will double in value approximately every ten years. Secondly, a quality investment…