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...
As you become a property investor you will soon discover that from time to time, you’ll need to find ways to refresh your investment property. Even the smallest of changes can make a significant difference to your property. Buying an investment property to hold long term can be very rewarding but it will need some attention to enhance its potential to generate above the average rent. In...
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...
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...
Gentrification is a natural economic change. Many suburbs within metropolitan Melbourne are evolving and changing their identify. Many suburbs have done a 360 degree turn, while some continue to retain their heritage vibes. Gentrification in Melbourne is occurring for many reasons. It can be due to the increasing population, an influx of more affluent residents and businesses or from property developers...
Auction clearance rates are the most viewed property statistic. In this market insight, we take the opportunity to help explain what they are and how to understand them. They are calculated for auctions scheduled during the week, ending each Sunday. It indicates the percentage of properties sold at auction using available data. The data also takes into consideration properties sold before...
When buying an investment property, there may be a time in the future where you want to sell it. Sometimes you may be selling an investment property with a tenant living in it. However, it can be more difficult selling an investment property with a tenant living in it. Keeping the home presentable by reducing clutter, maintaining the landscaping and having the property clean are all out of your control...
A routine inspection is an effective way to ensure your investment property is being looked after by your tenant. It is also an opportune time to assess the property for any repairs, damages or safety issues that should be fixed. Having the property in pristine condition will increase your chances of keeping a happier tenant and a higher rental income. Employing a property manager to take care of your...
Buying a property of any kind is a fine achievement in itself. You can purchase a property in a number of ownership types, including individuals, companies, and trusts. In this market insight, we explore the difference between joint ownership and tenants in common. The most common way to buy a property is with two people. These two people are often spouses. Having two people collectively can make it...