Chamberlain Property Advocates
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In an attempt to make the property sale process more transparent for buyers, amendments to the Victorian Government's Sale of Land Act 1962 came into effect on the 1st January, 2024. The changes affect the way vendors and purchasers currently share the cost of land tax and windfall gains tax. Presently, the contract of sale can apportion the vendor's land tax or windfall gains tax costs …
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Following consultation between the Victorian Government, businesses and industry representatives during 2023, from the 1st July 2024 a new Commercial and Industrial Property Tax will replace stamp duty on commercial and industrial properties in Victoria. It is expected that key elements of the reform will bring the following benefits: The Commercial and Industrial Property Tax …
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When selling Melbourne homes in January you can expect scorching heat during your open inspections. But the following tips will help your home to look and feel cool, fresh and enticing to prospective buyers: Chat to us about how a property advocate can help you sell or buy in the current market with confidence. Investment buyers can receive invaluable support and guidance through our …
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What a year 2023 has been in property! Nationally and in Victoria we've seen property prices and interest rates escalate, a shortage of properties for sale, a lack of affordable rentals, and changes to legislation. Of particular note are the changes to land tax laws that are coming into effect from 1 January 2024. We'll see additional clauses in contracts apportioning and adjusting land taxes …
When interest rates and house prices are rising, people become cautious. They wonder whether to buy and sell now, or wait for a better time. The market may slow, but it keeps ticking over because there are fundamental reasons why people continue to buy and sell property irrespective of the state of the property market. These include death, divorce, downsizing... all these sorts of …
Continue Reading about Wendy’s Market Predictions For 2024 →
For the week ending the 17th December 2023, a total of 716 properties were scheduled to go under the hammer in Victoria. There were 399 homes sold at auction this week, with 183 homes passed in, and 134 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 74%. If you have already found a property you are interested …
The property market is a fickle thing, heavily influenced by a range of factors and variables which make it hard to know when is a good time to buy. Significant rises in property values and thirteen interest rate rises over the past 18 months have certainly added to the level of buyer anxiety. What will happen in the next 18 months is anyone's guess, although experts predict that property …
Continue Reading about Buyer Alert: There is A Pocket Of Opportunity Right Now! →
For the week ending the 10th December 2023, a total of 700 properties were scheduled to go under the hammer in Victoria. There were 378 homes sold at auction this week, with 188 homes passed in, and 130 homes that sold prior to auction. According to data from the Real Estate Institute of Victoria, there was a clearance rate of 73%. If you have already found a property you are interested …
Housing reform can't come quick enough for Melbourne's struggling tenants. Hit hardest by the limited supply of rental properties and skyrocketing rents are low to middle income earners who are finding it near impossible to rent an affordable home within reasonable proximity of the city. A recent survey showed that single income families, couples earning minimum wage and pensioner …
Continue Reading about Melbourne’s Rental Crisis Is Becoming A Rental Catastrophe →
With everyone's Christmas Wish List topped with 'no December interest rate rise', the Board's decision today to leave the cash rate target unchanged at 4.35 per cent is a relief to many. Last month saw the first rate rise in four months, with interest rates increased by 25 basis points as inflation was not declining at the expected rate. With the impact of that rate rise beginning to …
