MELBOURNE’S rental crisis has become so extreme that some low-income families have to sacrifice necessities to keep a roof over their heads. While low-income tenants are being hit hardest, rising rents are also making it harder for average income earners to make ends meet. The median weekly rent in the metropolitan area reached $340 in […]
Many bidders attend auctions without a proper plan of attack, often at great cost. The bidding has reached the $790,000 mark when the auctioneer lets the 30 or so people gathered in the street “in on a little secret” — the property is on the market. In the space of 10 seconds, the bidding rises […]
IT seems young Melbourne home buyers can’t get enough of the clean lines and geometric shapes of Art Deco architecture. Real estate agents have reported a rush on anything displaying the movement’s distinctive hallmarks as the city’s collective appreciation for the style grows. The buildings are starting to be looked at with the sort of […]
Spring may be here but there are signs that Melbourne’s property market is missing some of the bounce usually seen in its step at this time of year. After a record-breaking autumn that turned into a decidedly lacklustre winter performance, there are plenty of questions about what’s in store for the rest of the year. […]
FORGET apartment blocks — the age of the ‘‘vertical village’’ has arrived. And far from the skyhigh stacks of shoe-box dwellings that many associate with apartment living, the modern variant promises levels of comfort rarely experienced outside expensive hotels. From poker rooms and massage parlours — the classy kind — to dial-a-chef services and beauticians, […]
AFFORDABILITY has been the word of the week. It’s a timely election “hot word”. One mention of affordability and everyone puts up their hand because no matter what our earning capacity, we all hold debt and crave the unaffordable. The one difference between our lives now compared to 30 years ago is our attitude towards […]
Wet and windy first weekend of spring doesn’t seem to dampen buyers’ curiosity as many turn out to take advantage of cooling market. There were 603 reported auctions, which generated a clearance of 72 per cent. Nevertheless, buyer advocate David Morrell said that in the higher price brackets, ”spring has got no zing”, pointing to […]
Caveat emptor: this often quoted Latin phrase means ‘‘let the buyer beware’’, and it remains one of the bedrock legal principles governing property transactions today. The simple fact is that the real estate system is weighted heavily in favour of vendors and vendors’ rights, which means buyers have to be wary, proactive and knowledgeable to […]
We all know the old real estate adage ‘location, location, location’ and the careful consideration needed to ensure capital growth. However equally important is the position of a property within that location – an unwise choice can have significant consequences if you need to sell in a soft market. Homebuyers are often tempted to inspect […]
The drawn-out political wrangle to form the next government looks set to disrupt what’s typically one of the busiest times for real estate. The drawn-out political wrangle to form the next federal government looks set to affect the nation’s real estate market, delaying the start of the key spring auction season and adding further pressure […]
