Australian Prudential Regulation Authority (APRA) announced on 6 October that it is introducing tighter mortgage serviceability tests, making it more difficult for some borrowers to get a home loan. The minimum interest rate buffer on home loan applications has been increased from 2.5 to 3 percentage points. Therefore, from November, new borrowers will be tested by banks to determine their …
Looming crackdown on the surge in house prices
As house prices continue to increase, there are whisperings of home loan crackdowns looming within the next 12 months. There have been discussions held between the Federal Treasurer, Josh Frydenberg and the banking regulator APRA (Australian Prudential Regulation Authority) to determine how to take control of the situation before it gets out of hand. APRA is an independent statutory …
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Whether renovating for resale or a mini facelift, small fix ups count!
Whether your home needs a facelift or you are considering a refresh to sell it, there are little upgrades you can make that don’t cost a lot. Don’t underestimate the power of small fix ups like a fresh coat of paint, upgraded door handles, tapware, lighting fixtures or new cabinet handles. If your kitchen or bathroom surfaces are laminate, replacing them with a good quality …
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Buyer’s Agent Malvern East – Suburb Profile (updated October 2021)
Buying a property in Malvern East can be a daunting and difficult process. For many of us, buying property is something we only do a few times in our lives. A buyers advocate (also known as a buyers agent or property finder) can be an enormous help when buying a home or investment property by: removing the stress and frustration of buying a homesaving you time and allowing you to get your …
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Building and pest inspections should always be completed before purchasing property. Here’s why.
The importance of getting a property inspected for building defects and/or pests was profoundly illustrated last week when we received an inspection report for a property we were considering on behalf of a client. The Property and Timber Pest Report we obtained for this house revealed a number of defects - as well as the possibility of further substantial damage due to the presence of pests. …
Melbourne Weekend Auction Results | 3rd October 2021
The week ending 3rd August delivered a clearance rate of 92% from the 560 auctions reported for the period (based on REIV data). At the same time last year, there were just 34 auctions reported. 392 homes sold at auction last week and another 120 sold prior to auction, with 46 passed in. 27 properties were withdrawn from sale and 104 auctions were postponed. If you're considering …
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Buyer’s Agent Tullamarine – Suburb Profile (updated September 2021)
Buying a property in Tullamarine can be a daunting and difficult process. For many of us, it is something we only do a few times in our lives. A buyers advocate (also known as a buyers agent or property finder) can be an enormous help to make it easy to buy a home or investment property by: removing the stress and frustration of buying a home saving you time and allowing you to get your …
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Suburban rail loop and North East road link projects. How it may affect you?
There are currently some major infrastructure projects in the pipeline for Victoria. Exciting times! The Suburban Rail Loop will incorporate 90 kilometres of railway line and a number of new train stations. It will mean significant changes in relation to commuting times and accessibility to Greater Melbourne and to Melbourne Airport (finally!). Read about this project here. The other …
Melbourne Weekend Auction Results | 26th September 2021
The week ending 26th September delivered a clearance rate of 92% from the 185 auctions reported for the period (based on REIV data). At the same time last year, there were just 21 auctions reported. 118 homes sold at auction last week and another 52 sold prior to auction, with 15 passed in. 23 properties were withdrawn from sale and 139 auctions were postponed. This week we profiled the …
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Buyer’s Agent St Kilda – Suburb Profile
Buying a property in St Kilda can be a daunting and difficult process. For many of us, it is something we only do a few times in our lives. A buyers advocate (also known as a buyers agent or property finder) can be an enormous help to make it easy to buy a home or investment property by: removing the stress and frustration of buying a home saving you time and allowing you to get your …
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