Melbourne is a highly desirable place to live. In fact it has been ranked the best place in the world by Economist Intelligence Unit’s (EIU) from 2011-2018. Many inner city suburbs have contributed to Melbourne's culture, environment and stability. So what are the most populated suburbs? Melbournians love their city and have little desire to live to far away from it. As the land scarcity increases...
Amenities is a silent achiever when buying property. This is relevant if buying to occupy or invest. In this article, we take the opportunity to highlight how amenities should never be overlooked when sourcing the right investment property. It is widely known that the further we live from Melbourne (or any city for that matter), the fewer amenities become available. The closer we are to the inner cities...
A Sunset Clause is a common condition included within a Contract of Sale when purchasing a property off-the-plan. It's a common term discussed among friends, but we want to help you understand that this isn't a 'bad term'. Many take this as problematic issue when buying. Sunset Clauses are usually included as a way of protecting the interests of both parties when it comes to a sale. What is a Sunset...
What does a property manager look for in a tenant? Many people have at some stage leased a property. You may have had an application miss out to another tenant or perhaps been declined. Successful investors leasing property know that a Property Manager does there due diligence to source the best tenant available. Melbourne vacancy rates remain low as the population growth increases. It’s not uncommon...
There has been a consistent take-up of Airbnb. The trend continues with the idea that this new leasing agreement can generate a higher rental income stream. If its to rent out a room or the entire home, many have been enthusiastic to learn more about it. The yields can certainly be higher, but let us share some great data researched by 'The Conversation'. Taking note of the research conducted by 'The...
Property trends occur as they do in clothing wear. Many designs trend indefinitely, while some come and go. One area of the house that takes a lot of attention are kitchens... What is currently trending in kitchens? We have summarised some of the growing trends that are occurring within our kitchen. Kitchen island bench - Looking at most of the trends, this is the most common. Most of you would know,...
Spiral staircases are becoming more popular to your normal traditional staircase. They are becoming a modern display feature to a large double storey family home. Today spiral staircases are known for being space-efficient as well as magnificently beautiful and even majestic. As family needs and tastes change, we are seeing common feedback to the stunning look of a spiral staircase bringing the home to...
According to research conducted by the Real Estate Institute of Victoria (REIV), homes located within some of Melbourne’s best public school zones have asking prices in excess of $100,000 more to similar properties that position outside school zones. Its becoming public knowledge to learn housing prices within school zones are higher to neighbouring properties, but the price differences may surprise...
Federal Budget - 2018/19 The Federal Budget was recently announced and little was associated to the property market other than some massive infrastructure changes that will place a positive impact on property prices but also impact interest rates in the near future. The government confirmed that wage increases have averaged 2% p.a. but they predict this to increase to 3.25% p.a. by 2020. Should this...
Overcapitalising - How to avoid this problem. This is a very common word used in both the finance and real estate industry. Many investors and owner occupiers would also be familiar with this term. Overcapitalising is caused in situations where you pay to much on renovations or home improvements. Implementing capital improvements such as laying high quality outdoor decking, changing a gazebo into an...