Selling your home is a big decision, and one many people struggle with for quite a while before they actually go ahead. Here are four signs that you are ready to sell: 1. Favourable Market Conditions When there are more buyers than there are houses for sale, it is a seller’s market. And if increasing property prices coincide with short supply, that is a great time to sell. BUT selling with …
Guide To Selling Your Melbourne Home In Summer
Selling your Melbourne home in the heat of mid-summer can have its challenges, but it also provides an opportunity to showcase some of the most enticing features of your property. But first, you should start by decluttering and deep cleaning before the marketing campaign begins. Remember to clean your windows, glass doors, bathrooms, kitchen, laundry, floating floors and floor tiles so that …
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Decoding Auction-Speak And Tips For Winning At Auction
Victoria's property auction season is in full swing. When there are more buyers than properties, auctions enable vendors to sell for the best possible price. But many buyers find bidding at auction quite stressful, so let’s make it a little easier by explaining some of the auction sales jargon and giving you a few tips on how to win at auctions. Auction terms you'll hear frequently: Tips …
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Hotspot Suburbs Attracting First Home Buyers
While most Australians aren't finding it any easier to buy a home, due mainly to the skyrocketing cost of living and house prices and mortgage interest rates remaining stubbornly high, a recent study by PropTrack indicates there are a few affordable hotspots if you know where to look. The latest data from PropTrack shows the ten most in-demand suburbs across Australia experiencing enquiries …
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More Reform To Further Deplete Melbourne’s Rental Market
"The Labor Government has implemented more than 130 rental reforms to restore fairness and respect for renters everywhere – this makes it six more. Victoria is leading the nation." - Premier of Victoria Hon Jacinta Allan MP Leading the nation? To where, homelessness? That recent statement from the Premier's Office formed part of the announcement introducing six more …
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Six Melbourne Suburbs Have Boomed This Year. Is Yours On The List?
An interesting article by Realestate.com.au recently revealed that the median value of almost 280 suburbs across Australia grew by over $205,000 in the past year, according to research by Proptrack. While median prices in Melbourne have only changed marginally in comparison to Sydney, Brisbane, Perth and Adelaide, there were six Melbourne suburbs that enjoyed significant increases to …
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REIV Support For Stamp Duty Reform
Relief is in sight for home buyers purchasing off-the-plan units, apartments or townhouses with the Victorian Government's plan to offer uncapped stamp duty concessions to ALL buyers of off-the-plan strata properties in Victoria. REIV CEO Kelly Ryan hopes this is the first step in comprehensive stamp duty reform, with tax concessions introduced to incentivise investors and stimulate more …
Quarterly Update on Median House Prices
Victorian property prices haven't experienced the same level of significant growth that many other states have seen in recent years, in fact there has been a decline both in metropolitan Melbourne and regional Victoria property values since 2021 and and 2022 respectively. Metropolitan Melbourne reached its peak of $1,135,500 in Q4 of 2021 before declining to $910,000 in Q4 2023. Since then, …
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How Have Land Tax Increases Impacted Investors?
Recent data analysis featured in PropTrack Market Insights indicates the higher land taxes imposed by the Victorian government have impacted the Victorian rental market in several ways. New land tax thresholds were announced by the Victorian government in May 2023 and came into effect in January 2024. For perspective, the cost increase on unimproved land valued at $500K amounted to an …
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Update On Victoria’s Housing Crisis
The housing shortage, lack of affordable homes to buy and shortage of long term rental properties are hot topics Australia wide. Queensland's housing and homeless crisis is spiraling, and escalating house prices combined with record low vacancy rates in South Australia means low income earners are struggling to find affordable homes to rent, let alone buy. And New South Wales estimates a …
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