Business update – from Tristan Markulija

Market_Insights_Business_Update
Business update – from Tristan Markulija
 
Tristan Markulija is the founder and principal property adviser at Crest Property Investments. We took the opportunity to get an update on Crest Property Investments and all things property.
 

Q. What does Crest Property Investments offer and why is it different?

We source brand new and off the plan properties for buyers. If you are a first home buyer, investor or owner occupier, we help them make the right decision. We are very client centric, where we take the client’s circumstances into deep consideration before presenting properties. Not one property type or location suits all, so it is important that we understand our client’s objectives, budget and timeframe. We don’t charge buyers a fee for our service. This has helped many buyers on the basis that they can maximise their borrowing capacity to buy a property rather than it being reduced in paying us for our time. We also offer a concierge service. This is where we pride ourselves on service. We ensure we not only research a property, we help them with the paperwork and remain in regular contact until they officially own the property. This services differs for investors as we are more involved with helping them approach a marketing campaign to lease and to maximise their tax entitlements.

Q. Business update – what does the team look like at Crest Property Investments?

We have a boutique team of professionals who have an excellent understanding of the property market, both in Melbourne and interstate. Each property adviser has been within the team for years and have a strong desire to connect with buyer’s needs and help them buy the right property. The team also work very closely with external professionals on a regular basis. Including accountants, mortgage brokers and financial planners to name a few. These professionals ensure our buyers are getting the best service and value for money. We also have close connections with builders, developers and solicitors abroad to ensure we have an extensive range of opportunities to cater each individual we meet.

Q. What is the property market like at the moment?

The property market is very much a hot topic in the news right now. Undoubtedly the rising interest rates have slowed buyer demand, but as inflation nears its ceiling, interest rates will stabilise. The property market nationally has seen a softening with many suburbs seeing some fall in prices. Not all areas trend the same, this is why location is critical. The media is blowing it up like an apocalypse, but after lengthy lockdowns, many people took the opportunity to save funds for a property deposit. The buying demand will soon increase once more. The market isn’t performing like its traditional Spring season, but there are still a variety of buying opportunities. Some people want to wait for a larger drop in prices, but we always believe the best time to buy is when you can afford it. We have seen it many times, buyers waiting for a better entrance price to later find out their borrowing capacity has also dropped, pushing them out of the market anyway. With good property advice, a cool head and a long term approach, the property market will serve you well into the future.

Q. What type of buyers are approaching you at the moment?

Broad data suggests first home buyers continue to drive buying demand, however our particular database is seeing a higher percentage of inquires from new and experienced investors. Many investors saved money during lockdown and find themselves in a better financial position to accumulate on their property portfolio. Many investors are coming from professional backgrounds, the medical sector and other corporate roles. We are seeing less inquiry around working families and the younger demographic.
 

Q. What does the property market look like in 2023?

No one has the magic blue crystal ball, but what we are seeing right now are investors taking a look. The general data says 20% of buying activity is currently coming from investors. We expect this to double in 2023 as investors find comfort to new interest rate levels. Investors will be able to assess their outgoings and take advantage of a continued property supply shortfall. Vacancy rates have decreased from 5.7% in August 2021 to 3.2% in September 2022. Metropolitan Melbourne also witnessed rental price increases from $470 per week in August 2021 to $500 in September 2022. As property supply and vacancy rates decrease, we may see higher rental returns for landlords.
 

That’s a wrap on our business update

If you’d like to learn more about buying property, particularly brand new and off the plan, please don’t hesitate to contact us. We would welcome the opportunity to help with your property purchase. Our YouTube channel and Market Insights also provide a wealth of information to assist you with many areas relating to property.

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