Apartments and villa units are becoming the investment of choice for many Melburnians. With house prices going through the roof these types of properties provide an affordable alternative. Provided the optimum selection is made they will produce exceptional capital growth. As a result more and more Melburnians are becoming members of an owners corporation. Having…
Making a sub-standard investment property selection has a series of negative implications for investors. A poor decision isn’t easily rectified as divesting out of property incurs substantial costs. Also, the time frame between placing a property on the market and receiving the proceeds of the sale is lengthy compared with other asset classes. The optimum…
It is important that property buyers are aware of any infrastructure projects or any other type of change of use planned in the vicinity of their proposed purchase. Construction of tunnels, bridges, car parks and the like can have a detrimental impact on property prices. These types of works invariably result in undesirable outcomes such…
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…
Not influenced or controlled by others in matters of opinion, conduct, etc; thinking or acting. This is the dictionary definition of independent. Many organizations in the real estate industry make false claims about being independent. Even the bastion of the “Independent. Always” The Age newspaper can at best in reality be independent sometimes. When…
Some property owners are unwittingly breaking the law when undertaking home improvements. In Victoria building regulations state that if total works are greater than $16,000 there must either be a major domestic building contract in place between the property owner and a registered builder or the building owner must register as an owner builder. If…
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…
After liaising with tradesmen for more than 30 years in various roles – in both the real estate and building industries – I feel I know what makes this type of beast tick. Generally speaking, I have always enjoyed talking to tradesmen because of their laid-back and unpretentious nature. However, I must say – being…
I received a call from a client asking me to evaluate and negotiate a block of land in country Victoria. It seemed a straightforward enough assignment. My client’s end goal was to build a home on the property. The owner was selling the land directly so I organised a chat over a cup of coffee.…
The Melbourne property market has continued on its merry way in 2015, but there have been signs over the past few months that the upward price acceleration is starting to slow. This is a welcome trend as any further upward movement would be unsustainable. The housing market experienced a strong June 2015 quarter, with the…