Newsletters 2017
The silly season is almost upon us, and activity in the property market is proving to be strong in the lead up, with buyers and sellers both looking to transact before everything shuts down later this month.
With only a few weeks to go before Christmas, now is an opportune time to see if you can bag a bargain before the year is out. Given the deadline, both real and psychological, many vendors want to ensure their property is sold by then, so they can switch off from ‘selling mode’ and enjoy their well-deserved holiday break. This means no more open for inspections, keeping the house clean or appeasing unhappy tenants, and it’s often a great start to the new year for them.
Landlords could be detrimentally impacted by new ‘tenants rights’ laws
ONE of the most important pieces of property news over the past month has been the announcement of significant reform to Victoria’s Residential Tenancies Act by the Andrews Government, which is designed to give tenants more rights.
But what impact will this have on landlords? Quite simply, many of these reforms could have extremely detrimental consequences for investors.
Buyers are active, but prices are confusing...
The Melbourne property market is one of only two markets – Hobart being the other – showing resilience as the national housing market begins its natural slow down.
The increase in the city’s median dwelling value was just shy of 2% over the past quarter, with Tasmania’s capital on par, and every other capital recording either a fall or a small increase of less than 0.5%, according to CoreLogic.
Unless you’ve been living under a rock you will no doubt have heard that Melbourne was recently crowned the world’s most liveable city again, making it a record of seven consecutive years with the title. That’s right, no other city has ever held the title for as long!
It’s official - Melbourne is a more popular place to live than Sydney. Melbourne has been crowned the most liveable city in the world by the Economist Intelligence Unit for six years in a row now, and perhaps as a testament to its liveability – or as a result - over this time more and more people have been moving to our city.
Don’t listen to the naysayers. MELBOURNE’S price growth has overtaken Sydney to be the highest in the nation over the past year. The market around Australia has softened following a period of exceptionally strong growth, with CoreLogic figures finding small price falls in every capital city except Brisbane and Hobart over the month of May.
Welcome to the latest news from the Property Mavens team.
Melbourne has the best odds for growth in 2017. Fresh off a weekend with very strong auction results, it’s clear demand for property in Melbourne is unwavering. Saturday was reportedly a record day for February auction volumes, and according to CoreLogic the preliminary clearance rate was 79%, up from 75.7% the week prior.
Welcome to the latest news from the Property Mavens team.
Melbourne has the best odds for growth in 2017. Fresh off a weekend with very strong auction results, it’s clear demand for property in Melbourne is unwavering. Saturday was reportedly a record day for February auction volumes, and according to CoreLogic the preliminary clearance rate was 79%, up from 75.7% the week prior.
