Melbourne property market

Most media outlets are now talking gloom and doom. Many are saying the Westpac rate increase will lead all banks to increase their rates and therefore stop people buying properties. Many bloggers and print media point to median prices beginning to slow and in many capital cities, apart from Melbourne and Sydney, already in negative […]

Read More

How to manage Selling Agents who underquote

Agents who quote very low do so in order to disrupt a competitor’s auction or private sale. They do it to bring potential buyers to their property instead of them going to another. If 2 similar properties were going to auction, with similar attributes, land size etc and if they are worth about $600k, with […]

Read More

Winter certainly feels like it has arrived

But clearly nobody explained that to the market. 82% clearance rate on 925 Auctions according to the Real Estate Institute of Victoria. With winter officially upon us next week, traditionally clearance rates drop somewhat and turnover decreases. I am not too sure this will occur. Whilst many agents fly north for holidays during these traditionally […]

Read More

Foreign Investment and a xenophobic money grabbing Government

The vast majority of foreign nationals buying investment properties are buying apartments off the plan. These are the properties that are overpriced by usually 20%+ and are very difficult to lease out. They are quite often inner city or on the fringe in Docklands and Southbank. Foreigners hold them for 3-5 years and then they […]

Read More

Top