Rental Market Snapshot: The Melbourne property market sees a great need for housing. This trend has remained consistent for 12 months, particularly as interest rates has influenced more people to rent over buying their own home. According to the The Real Estate Institute of Victoria (REIV) :- The proportion of vacant properties in metro Melbourne stands at approx. 2.1% 31 March 2024. . This has...
Many modern new homes come with some fine inclusions, from sophisticated fixture & fittings to textures and colour schemes. The trend of feature walls is one of those finishing touches that can be very aesthetically pleasing. It can completely change the dynamic and feel of a room, space or home. One of the great inceptives to include a featured home is the fact they can be very cost...
How to find a great tenant. Finding a great tenant for your rental property is crucial to ensure a smooth and profitable landlord-tenant relationship. Here are steps to help you find a great tenant: 1. Prepare Your Rental Property: Make sure your property is clean, well-maintained, and in good repair. Address any necessary repairs or upgrades to attract quality tenants. 2. Set the Right...
Double glazed windows have become more widely used for a number of reasons. In this market insight we explain what they actually are and how they benefit your home. What are double glazed windows? Double-glazed windows layer two planes of glass to make a single window but leave a small gap between each. The gap is usually about 12mm in width, which in the scheme of things seems...
Does an experienced property investor need advice? Even experienced property investors can benefit from seeking advice for several reasons. Here are some points to consider Market Dynamics: Markets are dynamic and can change rapidly. An experienced investor may be well-versed in historical trends but might not be aware of emerging shifts or new regulations. Seeking advice helps in staying updated on...
Top misconceptions when buying a property. When buying a property, there are several common misconceptions that people often have. These misconceptions can lead to mistakes and financial pitfalls. Here are some of the top misconceptions to be aware of: The Bigger, the Better: One of the most common misconceptions is that a bigger house is always a better investment. While larger homes...
Higher rent versus higher capital growth. When it comes to investing in real estate, there are different strategies that investors can pursue, and the choice between higher rent and higher capital growth largely depends on an individual's investment goals, risk tolerance, and market conditions. Here's a breakdown of the two strategies: Higher Rent: 1. Steady Income: Advantage: Investing in...
As the calendar year came to a close, there were many suburbs fetching higher price tags and some new suburbs reaching the million dollars. Toorak continues to hold the top spot at $4,426,600 while Flinders was a closer third at $4,425,000 (however there were less than 30 sales in the quarter for the suburb). Round the top 5 were three suburbs all surpassing the $3M mark, Red Hill, Canterbury &...
What traits should you have to be a successful property investor? Being a successful property investor requires a combination of skills, knowledge, and personal traits. Here are some key traits that can contribute to success in property investment: Financial Literacy: Understand basic financial concepts, such as return on investment, cash flow, and appreciation. Have a solid understanding...
A property caveat is a legal notice or warning that is lodged with the relevant government authority to inform interested parties, particularly potential buyers and creditors, that there is a legal interest or claim on a specific property. It is a common legal mechanism used in real estate transactions to protect the interests of individuals or organizations who have a stake in a property, even if they...