When it comes to property buying, there are many types and forms of real estate available. One popular type of property is the house and land package. So what is a house and land package and why is it so popular? There are two types of house and land packages You buy your vacant land and later build your home with a construction loan. Buy the house completed on the developer’s land. The second...
According to the The Real Estate Institute of Victoria (REIV) :- The proportion of vacant properties in metro Melbourne as at March 2019 remained at a recorded rate of 2.2%. The proportion of vacant properties in regional Victoria as at March 2019 remained at a recorded rate of 1.2%. The weekly median rent for houses in metropolitan Melbourne stayed at $450 per week. The weekly median rent...
Overall, Melbourne’s median house price fell 1.4 per cent in the first quarter of 2019 to dip below $800,000 at $793,000. REIV President Robyn Waters said the median house price in Eltham increased 7.3 per cent to $950,000 in the January-March 2019 quarter while Greensborough’s median house price soared 6.0 per cent to $808,000. “Melbourne’s Green Wedge Council proved to be our property hot...
Property land tax is imposed by government to generate money for a public purpose. Essentially, it's a tax charged on any land you own or co-own above a certain value threshold. In Melbourne, did you know the State Revenue Office of Victoria (SRO) orders over 300,000 property land tax assessments each year? Calculating property land tax can be a complex assessment. In our experiences, even...
When buying an investment property, many landlords are conscious not to over budget. Knowing property maintenance in inevitable, many often disregard outlaying the extra cost of installing an air conditioner. Looking back upon Melbourne's summer, it's the perfect time to reflect on how extreme the heat can be. We had quite a hot spell earlier this year with nights holding onto some serious...
As Crest Property Investments we have grown to love and understand Fengshui. We have client’s using this ancient perception to make good investment property decisions. It's not used for everybody when investing in property, but here we take a moment to share some information on this ancient philosophy. Note this doesn't even scratch the surface of what we see as a...
At Crest Property Investments we have met some fabulous people. One thing is for sure, we all live in some form of property and we therefore have an emotional attachment to real estate. Overtime we develop our own goals and objectives in search for the perfect property. If it’s to live and occupy or to invest and rent out we all have a point of view. Based on our experiences at Crest Property...
According to the Australian Bureau of Statistics (ABS 3131.0 Dec 2018), the three major states of Australia being Sydney, Melbourne and Brisbane are witnessing over 300,000 new residents from overseas each year. This increasing population means that we need more property to house people. In view of the current economical commentary, there has been negative sentiment towards the property market. Some...
It doesn’t matter where you buy your investment property or what type it is. Unfortunately bugs and other pests look to make it their home too. When bugs and other pests find their way into your investment property, they can quickly cause havoc. The landlord and tenant can often enter into conflicting conversations. Who is responsible to rectify the problem? At whose expense? Who is responsible for...
How to understand median property prices. When buying property, we all carefully complete our due diligence. We all want to make the right decision and we do the best we can to review the property market. One indicator that can mislead your decision making is observing the change in median property prices. Median property prices are one of the most viewed statistics in the property market. It is very...