Unlike the share market, the Melbourne property market does not have a history of volatility. However the last 12 months has been an exception. Throughout its history the Melbourne property market has shown slow but consistent positive capital growth. Investment grade properties i.e. properties in blue chip locations with scarce and unique features have lead…
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…
The buyer advocacy profession is desperately in need of a regulatory framework. It is up to the Real Estate Institute of Victoria and the Estate Agents Council to initiate change.If past performance is anything to go by, positive initiatives are unlikely to occur. The service of buyer advocacy started in Australia about 25 years ago.…
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 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…
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…
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…
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…
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…
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…