Despite inflation rising faster than expected, the Reserve Bank of Australia (RBA) confirmed today, that the official cash rate will remain on hold at 0.1%. At its first meeting for the year, the RBA confirmed that the cash rate will not be increased until inflation is sustainably within the 2 to 3 per cent target range, the labour market improves and wages increase. The RBA has …
Melbourne Weekend Auction Results
The week ending 29th January, 2022 saw 396 Melbourne properties scheduled for auction. Of these, 155 properties were sold and 45 passed in. Two properties sold after auction and one prior to auction. This is a clearance rate of 77% based on 206 auction results available (according to realestate.com.au data). As we get back into the swing of a new year, people are wondering what will lie …
Melbourne Weekend Auction Results
The week ending 22nd January, 2022 saw 169 properties scheduled for auction. Of these, 60 properties were sold and 18 passed in. One property sold after auction. This is a clearance rate of 77% based on 79 auction results available (according to realestate.com.au data). It is not unusual for auctions to dip in January - a very different time of the year compared to last month which had …
Use a security switch to swap over your home loan
Want to buy and sell at the same time but unsure what to do about your existing home loan? You may be able to switch it over to your new purchase. A security switch effectively means swapping your home loan from your existing loan to your new purchase. In other words, rolling over an existing bank loan (once you sell property one) into a new purchase (property two), without the need for …
Continue Reading about Use a security switch to swap over your home loan →
Can’t afford to buy into your dream suburb? Try finding your new home near neighbouring train stations.
Priced out of your dream suburb? Try looking into properties near neighbouring train stations. Buying a home just one or two train stops further down the train line, could save you a lot of money. To illustrate, an extra two minutes on the Upfield line between Royal Park and Brunswick's Jewell station could save you upwards of $400,000. Searching for your new home one stop further along a …
Office hours over the Festive Season
As the year comes to an end, Chamberlain Property Advocates will be taking some well-deserved time off. We wish all our CPA family and friends a joyous festive season. CPA will close from the 23rd December, 2021 and reopen on the 10th January, 2022. Please call the office on 03 9686 2288 if your matter is urgent and we will get back to you as soon as possible. Wishing you all a joyous …
Continue Reading about Office hours over the Festive Season →
Property inspections open to all. Pandemic rules ease.
The Victorian Government has made changes to the state's COVID-19 restrictions including amendments to public health orders. From 12:59pm on the 15th December, vaccination status is no longer required to be disclosed in order to attend real estate inspections and auctions. The wearing of masks is still a requirement and real estate agents will still need to adhere to various COVID-19 safe …
Continue Reading about Property inspections open to all. Pandemic rules ease. →
Regional Victoria boom
Regional Victoria suburbs are experiencing a major price increase boom! Research shows that properties are earning four times more than the average income of regional homeowners. This is thanks to sea and tree change buyers accelerating their move to regional towns due to the pandemic. The boom is widespread and includes, but is not limited to the surf coast, Bellarine Peninsula, alpine …
Southeast rail line sparks housing boom
We will see an extra 7200 homes built in the outer south-east thanks to a major rail line extension and upgrade. It appears that the building of new train stations in Pakenham and Pakenham East is set to commence this year with this busy rail line to be extended 2km via an elevated sky rail and crossover. The plan is worth hundreds of millions of dollars and has already sparked a housing lot …
Continue Reading about Southeast rail line sparks housing boom →
Home office / study a priority for buyers
Amongst many other changes to our lives, the last two years have seen a re-evaluation of how much space and the type of accommodation we need. Considering the number of weeks in lockdown we have spent in our homes, particularly in Melbourne, a home office or study has become of key importance for buyers. For renovators and house flippers this should be a renovation priority right …
Continue Reading about Home office / study a priority for buyers →