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...
Top growth suburbs over the last three month period ending December 2023. The Reserve Bank of Australia (RBA) has kept interest rates on hold since November 2022 with the inflation rate starting to come down. There were many areas within metropolitan Melbourne achieving double digit returns in median property prices, however unit price growth outperformed with many suburbs enjoying strong returns. Here...
Rental Market Snapshot: The Melbourne property market continues to see a a further supply in rental properties, resulting in continued decreased vacancy rates. 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...
Using a Self-Managed Super Fund (SMSF) to invest in property has gained significant attention in recent times. This approach to property investment offers several distinct advantages that can empower individuals to secure their financial future effectively. Here are five key points to consider when buying property using an SMSF: 1. Strategic Diversification: Incorporating property investments within...
Top things to do in Donvale Donvale is a quiet leafy suburb, known to have a mature aged community. Don't let that fool you... There are a lot of things to do in Donvale. Here is a list of things to do, but in no particular order: Tunstall Square Tunstall Square is a dynamic shopping precinct that offers a variety of stores. You'll find florists, fresh produce, cafes, restaurants and personal...
The most common contributing factors to the property market. The property market is influenced by a wide range of factors, and their importance can vary depending on the specific location and economic conditions. Here are some of the most common contributing factors to the property market: Supply and Demand: The fundamental driver of property prices is the balance between supply and demand. When...
Property market forecast for 2024. In this market insight, we take the opportunity to share our perspective on what the year ahead will look like in the Melbourne/Victorian residential property market. What happened in 2023? The property market in 2023 experienced everything! Many areas exceeded expectations, while increasing interest rates hindered home owners like they haven't experienced...
An investment property vs paying off your home mortgage. In this market insight we discuss the key advantages of both financial planning strategies. Not one strategy suits everyone, however they both offer different benefits. Let's explore these in more detail. Whether to buy an investment property or paying off your home mortgage, both are a significant financial decision that depends on your...