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We're in the throes of a mid-winter cold snap and rainy weather which may be unwelcome, but we can't say it is unexpected. What home owners and new home buyers may not have expected at this mid-year point is to see back-to-back rising house prices. Following on from rises in the first quarter, the REIV's June quarterly reports show continued price growth for house and unit prices across the …
Continue Reading about Melbourne House Prices Rise For The Second Consecutive Quarter →
PropTrack's June home price data showed that Melbourne's property market is finally gaining some ground with prices rising for a second consecutive month, but that is of little relevance in suburbs where sales volumes have plummeted during the last quarter. Real estate reports have identified multiple suburbs in Victoria where sales volumes have stopped dead during the last quarter, with …
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Recent analysis by the Real Estate Institute of Victoria shows the surprisingly high premiums Melbourne families are paying for homes within exclusive school zones compared to properties just outside the zone. In some cases properties within the zone of highly regarded public schools are fetching up to 35% more than those outside the zone. The REIV report shows that houses inside the most …
Continue Reading about The Huge Impact School Zones Are Having On Melbourne Property Prices →
An 'old' property listing is defined by SQM Research as being on the market for over 180 days. Recent SQM Research data showed that the number of old listings rose nationally by 8.8% during May, and by 6.2% in Melbourne. Across the past year, Melbourne's old listings rose by 15.8%. The reasons put forward by property experts include seasonal conditions, undesirable properties and unrealistic …
Continue Reading about Why Melbourne Properties Are Taking Longer To Sell →
New research shows Victoria's first home buyers are missing out on the concession that could save them thousands of dollars and help them take that first step into the property market. Victoria's first home buyer concession scheme waives the stamp duty for first home purchases of up to $600,000 and discounts it for the balance of purchases made up to $750,000. The problem is, there are just 19 …
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In a recent interview with the Sydney Morning Herald's Jim Malo, Wendy Chamberlain calls property price guides 'a work of fiction.' If you've been on a fruitless and frustrating house-hunting expedition in Melbourne's property market, you've likely come to the conclusion that she is right. The Sydney Morning Herald article explores the correlation between price guides, actual sales prices and …
Continue Reading about Are Property Price Guides Just Taking Us For A Ride? →
While Melbourne and Canberra have been the only capital cities to record annual declines in their home values of -1.2% and -0.7% respectively, it appears that is about to change. RBA rate cuts in February and May have helped to boost borrowing power, with further rate cuts expected. In May, Cotality (formerly CoreLogic) research showed 38% of outer Melbourne suburbs have already recorded value …
Continue Reading about Why You Should Buy Property In Melbourne NOW →
Whether you are approaching retirement age or you are already enjoying a retirement lifestyle, you may start to consider selling your home and moving to accommodation that will work better for you as you age. So what are the options? Downsizing A typical choice Victorians make as they age is to downsize. Selling the family home and moving into something smaller has several benefits. It can …
Continue Reading about What To Buy When You Are Getting Older? →
People often think property investing is about building a portfolio of residential rental properties, but that is just one of several ways to generate wealth through property investment. House Flipping Although building material costs have escalated in recent years, renovating and selling properties can still be a lucrative way to make money. You just need handyperson skills or good …
Get ready to break out the beanie, gloves and scarf… there are just two weeks left before it is officially WINTER! If you've been contemplating selling your home but think you should wait until spring, here are six good reasons why selling your home in winter is actually a good idea: So don't dismiss the idea of selling in winter - unless you live by the beach or have a swimming pool it …
