SENTIMENT
“Indications point to the market rising March/April Next year, with less stock and more demand. The [excess] christmas stock will have cleared but vendor activity will slow based on last year’s results – only those who need to sell will; others will wait for an indication of market recovery.”
- Click here for the rest of the article (Source: Pressdisplay Website)
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A sudden increase in the planned stock supply of inner-city apartments should have us singing if we’re to believe spruiked reports of a huge housing shortage. However while the need for affordable rental accommodation is growing, with recorded low vacancy rates in many inner city suburbs, high-rise apartments are unlikely to satisfy the large number of homebuyers struggling to get a foot on the property ladder.
Plans have already been rushed through for a rumoured 35 per cent increase to the existing supply in Melbourne with no regard for numerous complaints by both residents and council who argue existing suburbs are not able to cope with an escalation in congestion, not to mention the visible impact high rise has in diminishing house prices in neighbouring streets. The projects are largely marketed towards investors both here and overseas who currently see our strong dollar as evidence of a safe investment haven. Unsustainable rental guarantees are often offered as an incentive to buy in, however once the guarantee expires rents drop and purchasers are left struggling with higher costs and little, if any, capital growth.
- Click here for the rest of the article (Source: API Magazine Website)
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Clearance figures are down and the papers are full of catch phrases such as ‘buyer’s market’ and ‘Golden opportunities for purchasers’. Even those properties that record ‘auction sale’ in the published results have often passed in andbeen sold via negotiation – (from experience, roughly 50% fall into this category.)
It’s impossible to teach negotiation without employing practical experience. However if you want to be in the box seat, you’ll need to arm yourself with as much information as possible. Here are a few tips to help you along the way.
- Click here for the rest of the article (Source: Home Buyer Show Website)
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Owning a property is probably one of the best investments you’ll make. Not only does it fulfil an essential need for accommodation, when it’s time to sell the Government won’t hit you with alarge tax bill. Therefore any money you ‘invest’ inupdatingyour home not only improves lifestyle, italso ‘adds value’ to borrow againstat alater date or reap the rewards when you sell. If you’ve managed to save a small amount of money, instead of treating yourself to a holiday, or new TV this Christmas, consider these options instead;
The most obvious way to add value is to increase accommodation or storage space. If you’ve got a 2 bedroom house, making room for another person potentially converts the property from ‘couple size’, to ‘family size’. This doesn’t mean you have to add an expensive extension, something as simple as converting a loft, or renovating an old workshop or shed in the back yard could be an effective solution. Other options could include converting the carport into a lock up garage.
- Click here for the rest of the article (Source: Home Buyer Show Website)
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DESPITE the rain and the state election, some savvy buyers turned up at the weekend’s 1025 auctions.
Though the clearance was 61 per cent — and likely to be downgraded — there were some isolated strong results in what was described as a patchy market.
With more than 3000 auctions scheduled in the next few weeks, buyers could pick up a good deal for Christmas.
The market is holding up and good-quality property is still selling well, according to Advantage Property Consulting’s Frank Valentic.
- Click here for the rest of the article (Source: Pressdisplay Website)
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