Australian population update. Over the last few years, or even decades, the Australian population has witnessed some strong population growth. However in the wake of the global pandemic, growth numbers have fallen. With the international border restrictions that took place from March 2020, Australia’s population has increased by 35,700. The net overseas migration was 95,300 over the year to March....
Buying a small block of land in Melbourne has become widely popular over the last 5 years. Given the fact Melbourne property prices have continued to increase, its created an affordability problem for many. At Crest Property Investments we have seen a large take-up of buyers wanting to build a new house on a small block of land. This has allowed many new buyers to enter the market without heavily...
HomeBuilder construction commencement was recently extended. Initially it was for 6 months post contract signing, but it the Government recently announcement an extension of 18 months. Were you one of the 121,000 people who took advantage of the HomeBuilder grant? Good news for those people who were able to proceed with an off the plan purchase. The extension was placed in response to the...
If you own a property that features an owner’s corporation, you’ll soon learn that it holds an annual general meeting (AGM). An owners corporation will discuss many matters from maintaining surplus cash to covering costs such as building insurance premiums, garden, and waste management to name a few. They are required when a property features common property areas such as driveways or a car...
Most popular suburbs first-home buyers are purchasing. At Crest Property Investments, we source brand new and off the plan properties for buyers. At present, we are discussing and meeting with many first home buyers taking advantage of the government incentives and record low interest rates. The covid-19 pandemic has seen many young Australians look into their borrowing capacity and buying opportunities....
Apartment supply shortage. There is a significant fall in the number of new apartments within the process of pre-sales or under construction stages. The apartment supply shortage is very evident and will continue further in 2021-2022. At present the demand is highly outweighing the apartment supply. The demand has been fuelled by the fact interest rates are at historic lows and there are a variety of...
A proxy in an owners corporation. When owning an apartment or townhouse, you may have experienced what an owners corporation does and why it’s needed. In this market insight we would like to help you understand what a proxy is and when/why they may be needed. An owners corporation is required to operate an annual general meeting (AGM) where property owners take the opportunity to discuss and vote on...
How to avoid home buyer’s remorse. No doubt everyone has experienced it in one way or another. Even the more experienced property investors feel it on some purchases. It can even come to you when buying a car, a new tennis racquet, a dress or paying for some accommodation. There are different levels of buyer’s remorse. Purchasing a $300 tennis racquet would be seen as a lower scaled level...
What can cause construction delays? Buying a property off the plan is an exciting opportunity that has suited many types of buyers for decades. You can purchase apartments, townhouses and house & land packages to name a few. When buying off the plan you’ll be given guidance around the construction timeframe and estimated completion date. Many buyers use that time to save additional money to...
When buying a property considering the importance of it's location has never been so important. Buying in a good location, you’ll have the flexibility in the future to modify or renovate the property. However buying a property in an inferior location can’t obviously be easily picked up and moved to a better area. That’s why you should consider the location carefully. Here are some of the most...