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…
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…
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…
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…
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…
A pre-purchase building and pest inspection is essential for all property purchases. I am astounded that many buyers do not obtain a report. With the Melbourne median house price at around $820,000 a report costing just hundreds of dollars should be considered essential. Over the years I have had some clients grumble about the amount…
Buyers of brick or masonry homes should pay particular attention to the serious building defect known as rising damp. Through capillary action, moisture can make its way up a brick wall from the ground. A breakdown in the waterproofing barrier or garden beds being constructed above an existing damp proof course can result in rising…
When it comes to residential property investment capital growth is king. Exceptional capital growth as against rental return will put an investor hundreds of thousands of dollars in front in the medium to long term. Furthermore exceptional capital growth allows an investor to accumulate equity. This makes it possible to purchase additional assets. In my…
New legislation aimed at curbing underquoting is due to be passed later this year. Unfortunately the new laws are essentially a duplication of the current law. Currently the law says that an estimated selling range must be stated on the authority between the selling agent and vendor. The selling agent cannot advertise an estimated selling…