For many people, their home is their most valuable asset. Chris Vedelago looks at a few strategies to unlock its economic potential. Our homes are sanctuaries, full of precious memories, but also investments and sources of potential revenue. WHEN Neil Morris retired, what he did with his long-time home definitely doesn’t qualify as a mainstream […]
Chris Vedelago reveals just what $1 million will buy and where. To say the property had seen better days would be a gross understatement. The Richmond house had been gutted — the floors torn up, the plumbing and wiring re-routed to feed a massive hydroponics system used to grow marijuana. After police shut the operation […]
Tony Robinson’s nicely timed election proposal to ban ‘price-plus’ advertising cajoles purchasers into believing real steps are being made in their favour. However, no matter what Consumer Affairs Victoria (CAV) proposes, they cannot manipulate a selling agent to assist a prospective purchaser. Selling agents are contractually obliged to work in the best interests of the […]
We’re currently in the downward phase of a typical market cycle which won’t last perpetually – however it presents a wonderful ‘window of opportunity’ for buyers. The clearance rate in Melbourne is currently in the low 60%, and although this is having no effect on the number weekly sales, it means there’s more room for […]
Melbourne house hunters would be well placed to buy property in the next six to 12 weeks, while market conditions still favour the buyers. According to JPP Buyer Advocates director Ian James, there are several major factors driving the Melbourne property market both now and for the next six months. “In short, it will be […]
Property Buyers often want a solitary answer to the ‘golden egg’ of investment. Some ‘experts’ recommend apartments, whilst others swear by land. However there is no ‘one size fits all’ scenario in the world of real estate. Plans must be formulated for each individual based on long term objectives. If you’re thinking of property investment […]
Auction clearance rates in Australia’s two biggest cities drop to nearly two-year lows after the RBA’s surprise interest rate rise chills demand. Auction clearance rates in Australia’s two biggest cities dropped to nearly two-year lows over the weekend after the Reserve Bank’s surprise interest rate rise chilled buyers’ demand. Clearance rates in Melbourne, dropped to […]
The rate rise has triggered concern about the slowing impact it will have on the property market, while those who are feeling it most are the younger buyers. ARE we surprised? Yes. Are we upset? Absolutely. But despite our anguish, you can’t say we weren’t warned. For months economists, investors and columnists have argued about […]
MELBOURNE’S property market has suffered its worst setback since the height of the financial crisis, with the auction clearance rate falling to 61 per cent yesterday. The drop comes as the Reserve Bank of Australia lifted the cash interest rate by 0.25 per cent to 4.75 per cent this week, marking the seventh increase in […]
CLEARANCE PLUNGE AFTER RATE HIKE THE spectre of rising interest rates cast a shadow over Victoria’s auctions yesterday, sending clearance rates to their lowest level since the global financial crisis hit in 2008. Yesterday’s 61 per cent clearance rate was 20 per cent below the corresponding weekend last year. While most agents and buyers advocates […]
