The new year has started with a bang! There is plenty of activity around, with the market barely taking a break over Christmas. Over 200 properties sold in the first week of the New Year, according to realestate.com.au.
There has been activity among the tree change/sea change market particularly over the Christmas and New Year period, as people have taken a holiday. You too may now be thinking about buying a holiday home/investment townhouse in Blairgowrie or the like after you have just enjoyed your summer break there. But think again! Here are 3 reasons why you shouldn’t buy it:
Seasonal tenancy and income fluctuations
High competition from other holiday home Airbnb investors (remember incomes are now being reported directly to the ATO)
A lack of multiple growth drivers to support long-term capital growth therefore limited resale opportunity in the future
Here are 3 reasons to buy in Melbourne instead:
It was the strongest performing city over a 13-year period, outperforming the market from 2006 to 2019.
It has multiple growth drivers in place including but not limited to:
More infrastructure spending and projects underway than all other states combined;
Strong ongoing migration to Melbourne, both from internal and external migrants
Strong employment opportunities
As Victoria’s property market continues to strengthen this year, Real Estate Institute of Victoria figures have found Melbourne’s median house price has reached a record high, surpassing $850,000 for the first time, while the city’s median unit value surpassed $630,000 for the first time. The signs at the moment only point towards continued growth, especially with strong activity.
Did you miss Part 5 of the Virtual Property Summit featuring Terry Ryder and myself? If you’re planning for property success in 2020 you need to listen to this.
If you want help in identifying opportunities in Victoria’s property market – whether it be in metro Melbourne or the regional areas - from a qualified and highly regarded buyers’ agent now, contact us for some advice today.
How will the bushfires impact the property market?
The recent bushfires that local communities have suffered through have been devasting to say the least.
While overseas on my Christmas break, I kept track of what was happening. The media portrayed the whole country as being on fire, with it being the number one news item day after day. I am sure it felt that way for many people who not only lost their homes but also for those brave firefighters and generous volunteers who banded together to help during that horrendous time.
There is now commentary in finance around the bushfires, and how it could force an already largely expected drop in interest rates next month. There is also talk about how the disaster is driving property prices up and vacancy rates down, and while this is possible due to simple supply and demand factors, with many people needing somewhere to live, it will likely only be in very specific locations. For those effected and now homeless, Airbnb Open Homes are providing free disaster relief accommodation to those in need, via kind hosts. Please join me. If you have a spare room that you can make available on this website, please do so here .
An experienced and expert buyers’ agent such as Property Mavens can help buyers to navigate any market and provide advice to property owners and sellers. If you are a buyer or seller that needs assistance, contact us today for an obligation-free discussion.
An experienced and expert buyers’ agent such as Property Mavens can help buyers to navigate the current market, both this year and as it changes heading into the new year. If you are a buyer or seller that needs assistance, contact us today for an obligation-free discussion..
Why do you need a buyer's advocate ?
As a 50-plus single woman on a limited budget, Janelle found the prospect of buying a home daunting. She was referred to Property Mavens by her financial advisor and engaged our services as a Melbourne buyers’ advocate to assess and negotiate to buy her home in Leopold, in the regional area of Geelong.
With a super tight budget and struggling to price property in a fast rising market, Janelle needed our expertise to assess the value of the property, provide her with certainty regarding the property type and protect her interests in the buying process.. And our carefully researched and considered strategy and advice worked!
Janelle purchased this 2 bedroom, 1 bathroom home in a private sale, edging out other interested parties, but staying on budget. Our assistance gave her “peace of mind” in her words as we offered security and knowledge.
If you want help to identify an investment-grade property like this one, whether it’s a family home or an investment property, click here to book a time with us to discuss your requirements. It’s 100% obligation free.
Why do you need a vendor's advocate ?
Our client Diana has expertise in commercial real estate, but sought our expert advice to support and guide her through the sales journey for her residential family home – a 4 bedroom, 2.5 bathroom home in Kingsville – so she could downsize and relocate.
In particular we helped Diana with agent selection. After determining which 3 agents best suited her needs, Diana selected her preferred agent and the sales and marketing process began with gusto, spanning a whirlwind 3 weeks before Christmas. The result was a very successful sale, with the property selling for $120,000 over reserve at auction.
As professional property buyers and vendors advocates, we know the difference between a bad selling agent and a great one! If you would like help to secure a fantastic outcome like this one, whether it’s selling a family home or an investment property, and you’re ready to get started, click here to book a time to discuss your requirements. It’s 100% obligation free.
Emma and Jack wanted a high-yielding investment property that they could add value to over time, to match their investment risk profiles.
They came to Property Mavens with a brief to purchase a high-performing, low-maintenance investment property.
We were able to successfully purchase a high tenant appeal property – a 3 bedroom, 1 bathroom house in Wendouree delivering a 4.75% yield - off market, in less than 4 weeks.
In just two years that property has grown in value by 25%, six times more than the 4.1% experienced by the wider market in the same period!
As professional property buyers we know the difference between a bad property and a good one, where to buy to generate the strongest returns, and what properties are really worth, to ensure our clients don’t pay too much.
If you want similar results, click here to book a time with us to discuss your requirements. It’s 100% obligation free.
Love to talk real estate?
If you want to invest or buy the right home for your budget, or sell your property click here to book a time, or call us for a chat about securing your financial independence.
If you found this useful and know someone else who may enjoy it too, we'd love you to pay it forward by sharing it.
At Property Mavens we choose to give back to help create social change within our business model. If you use our buyers or vendor advocacy services, you will be helping to make a positive impact within the local and wider community.