Victoria is rezoning 12 new suburbs to potentially house up to 50,000 people to meet the demands of our increasing population. Tim Pallas, treasurer announced that these suburbs located in Melbourne’s west, north, northwest and south east will set motion plans to build new communities. Pallas went on to say, ‘this is critical for keeping house and land packages affordable’. The new communities...
We are blessed that Australia is a civilised country with a reasonably maintained crime rate to other nations throughout the world. It’s not uncommon to meet people who don’t lock their doors or their motor vehicles. Knowing we live in a peaceful environment, you should always still look into the crime rate of the neighbourhood you are intending to buy a property. Regardless if you are buying with...
Buying off the plan allows you to purchase a new property before it exists, providing you with the ability of only paying a 10% deposit and nothing else until the property is built and ready to settle. One of the notable benefits of buying off the plan is “buying more time”. During the construction phase you can continue saving additional money that could be used to contribute a larger property...
Can Owners Corporations restrict Airbnb? Recent rulings at VCAT have closed some doors but opened others for Owners Corporations looking to exert greater control over Airbnb and other short-stay platforms. A recent case involving a building in Doncaster confirmed that the Owners Corporation cannot implement rules which ban short-term rentals. However, the ruling did acknowledge some of the other...
Melbourne was voted as the “World’s Most Livable City”, 6 years consecutively, according to the Economist Intelligence Unit. This year in 2018, it was ranked second. By 2030, its anticipated the population will exceed Sydney as the most populated city of Australia. There are a few reasons why the Melbourne property market is expensive, and perhaps deservedly so. These are the reasons why it...
If you already have your home paid off or own an investment property, we dare say you are off to a great start! However many can fall complacent or become distracted with other important things such as work, raising a family etc… If you tick one of these boxes, perhaps it’s time for a financial review. We have helped many successful investors expand their property portfolio. In many cases we have...
What to look for when choosing a mortgage broker. A mortgage broker is a professional that arranges mortgages between borrowers and lenders. Consulting a professional mortgage broker can be an excellent contact in helping you accumulate a successful property portfolio. There is estimated to be over 16,000 mortgage brokers nationwide. How do you source the good ones? Here are four things to look for when...
It’s widely recognised that both Melbourne and Sydney are the two largest cities of Australia. Both larger than our national capital city, Canberra. Their employment opportunities and lifestyle activities are just some of the drawing cards that make them so desirable. Sydney has been the most populous city since 1901. With this, it’s fair to say Sydney has been the largest contributor to the...
Melbourne’s median house price increases 1.4 per cent in 2018 The Real Estate Institute of Victoria’s latest data reveals that Melbourne’s median house price increased 1.4 per cent to $826,500 (from $815,000) and the unit price increased 1.8 per cent to $597,000 (from $586,500) in the 2018 calendar year. REIV President Robyn Waters said that despite low confidence, sluggish auction clearance rates...
According to the The Real Estate Institute of Victoria (REIV) :- The proportion of vacant properties in metro Melbourne as at December 2018 was recorded at 2.2%, increasing from 2.0% in September 2018. The proportion of vacant properties in regional Victoria as at December 2018 was recorded at 1.2% decreasing from 1.4% in September 2018. The weekly median rent for houses in metropolitan...