According to the latest RACV analysis here are a list of Victoria’s latest crime statistics and home burglaries. Some suburbs may surprise you… The analysis conducted by the RACV use multiple data from government officials, the Victoria Police. Statistics sourced from 2018-19 studies have been collated to identify the most dangerous and safest suburbs in Melbourne. A scary thought…The data...
It is finally official. The Government has established a new policy called the mortgage guarantee scheme, which is aimed to help first home buyers enter the property market. The mortgage guarantee scheme will offer first home buyers the opportunity to purchase a property with just a 5% deposit subject to eligibility. The scheme will essentially boost up to 10,000 first home buyers each year on low and...
Buying a home isn't easy and it generally requires you borrowing money to achieve this. In order to successfully obtain a loan, you need to place your financial circumstances in the best possible situation. While you don’t need to be debt-free to secure a mortgage, you still need to provide evidence that you are financial capable of borrowing money, maintain a financially responsible lifestyle can...
When buying a place to live we are spoiled with choice. Do you buy a cheaper old home that needs fixing or do you pay top dollar for a newly renovated home? Building a brand new home is a particularly popular choice. This is very evident with first home buyers and owner occupiers looking to live in a home for a long period of time. Here is a list of reasons to build your own home: Longevity -...
Renting vs owning a property has some significantly differences, particularity long term. To put it in a nutshell here are some key differences between renting vs owning a property: Owning a Property: You are accumulating your own wealth. You have the ability to customise the property to suit your own needs. Most investors borrow to invest in property. The monthly loan payments are likely...
The housing market in Victoria has experienced some price reductions in the last 12-18 months, but here are several good reasons why it is about to turn around and why now might be the best time to buy property. Reasons why it's time to buy property: Reserve Bank of Australia announced a 0.25 per cent rate cut in June 2019. With a further hint of seeing another rate cut as early as next month....
APRA changes make borrowing easier. Post the federal election, the mood in the property market looks active and very promising. There are many good indicators that indicate we are entering a new property cycle. A move that’s going to make it easier for everyday Australians to qualify for a loan. One of those indicators is the recent announcement from Australian Prudential Regulation Authority (APRA)....
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 latest statistics from the Crime Statistics Agency Victoria, we have seen our crime rate fall by about 7.8 percent. Victoria Police deputy commissioner Shane Patton "Whilst we acknowledge any crime is one crime too many, when you can see these type of results, it's some validation — it's some vindication that we are heading in the right direction”. The most notable criminal...
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...