Market snapshot – January 2020

The Victorian property market has experienced low levels of overall house and unit transactions over the last 12 months. As at December 2019 there were approximately 108,148 transactions compared to 131,622 during the same period in 2017. This low level of supply has further segmented the Melbourne market i.e. properties that are situated in quality…

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…

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…

A winning tenancy application

Your Buyers Advocate Newsletter To ensure success tenants should treat a rental application the same way they would a job interview.The first important step is to make sure your application is complete. The following is a list of important information that should be included; Reference letters- from past landlords and employers.This will establish your employment…

The triumvirate that every property investor should have

Your Buyers Advocate Newsletter Every property investor needs a good handyperson, plumber and electrician. Having these three contacts will not only help take the stress out of being a property investor it will also save substantial amounts of money. Consistent high quality workmanship, reliability and a competitive price are rare with tradespeople provided by a property…

Market snapshot- February 2019

Your Buyers Advocate Newsletter The Melbourne market is currently at the bottom of a cycle. During these times quality investment grade property becomes easily identifiable. These are the properties that attract multiple bidders at auctions. Properties that don’t meet this performance indicator are invariably not investment grade.   During these downturns properties that are situated…

Smoke and mirrors

Marketing photos taken with wide angle lenses combined with undersized and strategically placed display furniture to make rooms appear larger. Artificial lighting to make rooms appear brighter. Newly painted walls and architraves to hide what could be rising damp. Sensual aromas from plug in diffusers greeting you at the entrance. Welcome to the world of…

The buyer’s deposit

Releasing a deposit to the seller prior to settlement is always risky. If a deposit is released prior to settlement the purchaser is deemed to have accepted title. On signing of the contracts many selling agents will attempt to get the buyer to sign what is known as a Section 27 release of deposit statement.…

The Block – you would have to be a block head to buy one – for investment

Your Buyers Advocate Newsletter It has been reported that over two million Australians own residential investment property. The quality of many people’s retirement is tied to having made an astute property selection.It is therefore important that powerful media outlets provide accurate and balanced commentary on the property industry. The popular Australian television show known as…

Home maintenance

Preventative home maintenance will save property owners many thousands of dollars. Spending a little on a regular basis is more cost effective than making substantial outlays due to having to replace entire building components because of neglect. Not only will regular maintenance save money it will result in a safer home environment. Every home owner should keep…