Now more than ever, many first home buyers in Melbourne are relying on their parents to get into the property market. Research indicates that more than a third of parents in Victoria provide financial assistance to their adult children to help them purchase their first home. Property values in Melbourne continue to soar. In this June quarter, the median house price for Melbourne was …
A house versus a unit
In the last 12 months, research has shown that house prices have sky rocketed three times faster than those of units. In a recent article written by the Domain's, James Robinson, it appears Melbourne's inner south and inner eastern suburbs have the most significant gap in pricing between houses and units. Thanks to Melbourne holding the unenviable title of most locked down city in the …
What’s happening with the property market?
With part of the traditional spring selling season experienced in lockdown, we still seem to have a few legs left in the Melbourne property market. The fundamentals remain the same - people need somewhere to live. If anything, the past 20 months have shown us that often our existing home is not adequate (not enough/no outdoor space, no place to home school, work from home or …
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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 …
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Now’s the time to sell!
Often, the rule of home buying is sell first, then buy. It appears this has never been truer. With the property market going from strength to strength and the demand for houses, especially in Melbourne, being at an all time high, it seems right now is the time to sell. Particularly if you are considering downsizing, there's a good chance you'll be left with cash to splurge. …
Building a more sustainable home – where should you start?
Building or renovating a property has always involved a lot of decision-making. Aesthetics, functionality, and return on investment have traditionally been key considerations for anyone planning to build or upgrade their home. However, factoring sustainability into building design is a more recent trend - and it's important to know where to start. A good way of thinking about …
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The resilience of Australia’s housing market since the arrival of the pandemic
The effects of the pandemic on Australia's housing market has been relatively benign, as outlined in a report released this month by CoreLogic. Focusing particularly on Sydney and Melbourne, our two largest real estate markets, the report reveals that we've weathered the pandemic exceedingly well. Key factors that have underpinned this success include: CoreLogic's research shows that …
What could you do with $133,505?
Real Estate. It's a funny business. You have at your disposal experts you can call on to help you on the journey and save you money. We're talking big money, not small change you can find down the back of your couch. Yet it is probably still one of the few industries where people feel they can have a crack at it themselves (or call on Uncle Bob) and do a better job. If your toilet backs up, are …
Are buyers back?
A few weeks on from the federal election and with an interest rate cut thrown in for good measure, it seems that there is some confidence returning to the Melbourne real estate market. Agents I've been speaking to have said that they're seeing more hands going up at auction, with clearance rates lifting and some properties performing well. It's still a case by case basis, regarding which suburb …
