Newsletter - Inner Circle Update September 2015
Welcome to Inner Circle - your inside look at the Victorian property market.
To date, 2015 has proven a standout year for investors and homeowners alike with the Melbourne market recording gains of around 11% for houses and about half that for apartments.
But a closer look reveals that all properties are not equal with some breakaway performances by specific property types in certain locations. Read more
Auction clearance rates are one useful indicator of how the market is travelling with clearances above 65% indicating the market is in a growth phase.
Melbourne’s clearance average was just 61% in 2012, but climbed to 71% in 2014. It then powered ahead to over 80% at the start of this year before falling back slightly to 78%.
Some in the media made much of this slight decrease, but I would say the market has held up remarkably well considering the increase in properties for sale and the decrease in buyers coming from China - down by around 30% in 2015. Read more
Recently I had the pleasure of acting for Nicole and Mike who were referred to me by their financial planner.
After they had spent months looking for an investment property without any success, I met with this delightful couple in early June. A review of their strategy highlighted why their search had been taking so long and had only met with frustration.
They had many good ideas about what the right sorts of properties for investment were, but were looking in the wrong area for their strategy and budget. Read more
Property Mavens, Melbourne’s leading buyer's advocates.
Go forth and prosper !
Property Mavens - Smart Property Buying