Melbourne is undoubtedly a great place to call home. Over the recent years many new suburbs have surpassed that magic million dollar mark. Toorak takes the top of the table with a whooping $4,210,000, $1,538,000 higher to its nearest rival of Malvern. There are a recorded twelve other suburbs above the $2,000,000 mark while the majority of suburbs are within a 20km radius of the Melbourne CBD. Here is a...
According to the The Real Estate Institute of Victoria (REIV) :- The proportion of vacant properties in metro Melbourne was recorded at 2.0%, while regional Victoria was at 1.4% in September 2018. The weekly median rent for houses in metropolitan Melbourne rose to $460 a week, while the weekly median rent for houses was recorded at $330 a week in regional...
The Real Estate Institute of Victoria (REIV) data shows for the three months ended 30 September 2018, median house price performance remained stable. According to the REIV, there was an increase of 13.6% in the value of homes sold on the private market compared to just 0.6% via auction over the last 12 months. Resulting in an overall increase of 5% in the last 12 months. REIV also highlighted that...
An expression of interest is the first step in the buying process for real estate. As buyers advocates, this initial stage is where you place an official holding reservation on a property. The expression of interest sets out the proposed details including the terms & conditions of the offer, purchase price and time frames to act. It is a non-binding offer and does not in itself constitute a...
Bad credit. It doesn’t have a fine ring to it, but it’s an important topic to highlight. Obtaining a home loan has become more difficult as the banks alter their lending criteria. Becoming aware of having bad credit is more important than ever. Bad credit history can linger for many years, restricting you from lending the right loan or possibly any loan for that matter. So, here’s what you need to...
It's not uncommon for a family to want a holiday home. Taking your family on an active camping trip, relaxing beach getaway or staying at a ski lodge in the mountains sound pretty sweet. Many like the idea of renting a family home throughout the year and occupying it on school holidays. In theory it sounds fantastic that you can generate some income throughout the year, while enjoying the accommodation...
The butler pantry… who doesn’t love a walk-in cupboard! There are some traditional home treats that we don’t see anymore. Features like transom windows, vestibules, and sleeping porches, to name a few. One traditional home feature that has very much come into demand is a butler pantry. This is happening in both brand-new properties and remodels or renovations. Traditionally, a butler’s pantry...
New Real Estate Institute of Victoria (REIV) data shows for the three months ended 30 June 2018, median house price performance in regional Victoria outstripped that in Melbourne. While median house prices in the state’s regions rose 4.0% to $419,500, they dipped by 0.6% to $840,000 in the Melbourne metro area. Melbourne was predominantly effected by the decline in auction results as private sales...
According to the The Real Estate Institute of Victoria (REIV) :- The proportion of vacant properties in metro Melbourne fell slightly to 1.9%, while regional Victoria remained at 1.6% in June 2018. The weekly median rent for houses in metropolitan Melbourne rose back to $450 a week, while the weekly median rent for houses also increased to $330 a week in regional...
When investing in property, any savvy investor is looking to maximise their total returns. As your property portfolio expands, it can become time consuming. Having multiple real estate agencies managing your properties may reduce the comprehensive guidance needed to maximise the value of your property portfolio. If you have investment properties across multiple agencies, consolidating your property...