Blog & Insights
Real Estate’s Next Phase
When we suggested a Market Shift was beginning, last November, it was met with some scepticism. This was understandable, since we were encouraging those that had been considering selling to maybe bring their plans forward. So, it could be seen as self-interest. Now...
What A Market Shift Looks Like
Property is an almost entirely safe topic for an interesting conversation. Introduce real estate at a BBQ and you’ll get engagement. Most people have an opinion; many are planning a purchase or a sale at some point in the near future. Certainly, there will be plenty...
Yes, It’s Still A Sellers’ Market BUT Change Is In The Air
Records are still being set for property prices in Melbourne. There is still a pool of buyers waiting for new listings to come onto the market. This excess demand is working in favor of sellers and prices are still creeping up. But the slowdown in price growth may be...
Property Inspections from 18/9/21 – REIV Advice (edited)
The Victorian real estate sector has been granted some relief from the lock down restrictions after a prolonged period of discussion with government. It is critical that all real estate agents ensure that everyone abides by these rules so the sector can continue to...
A High Price or the Highest Price?
https://www.youtube.com/watch?v=_b-yFp5xy2M Most properties are currently selling for high prices. Record prices even. But there's a difference between a high price and the highest price achievable. And most of the time, sellers leave money on the table. It's not even...
Why Melbourne Rents Will Go Up
Rents have been largely in the doldrums over the last 18 months. At least anywhere that attracts any demand from tertiary students and the CBD have anyway. And the negative influence on prices isn’t about to suddenly disappear, with our borders likely to stay closed...
Time Running Out after Lockdown Freeze
On 1st July, the temporary Stamp Duty waiver of 25%* will disappear forever. This was one of a number of incentives the Victorian Government introduced to revive the property market following the extended lockdown for 3 months till November last year. Needless to say,...
Underquoting is Alive and Well
The Melbourne property market is currently hot. Not exactly new information. But under cover of the spiking prices, agents have fallen back into underquoting to buyers. It’s bad enough that prices are moving beyond reach for many buyers, without being deliberately...
Big Increase to Property Purchase Costs Next Month
Did you realise there is currently a 25% discount applied to stamp duty costs in Victoria for EVERY buyer for properties under $1 million? Not just First Home Buyers, or even Owner Occupiers. It also applies to investors and foreign buyers (yes, we were a bit...
Becoming an Estate Agent in Victoria is about to Become MUCH Harder
After September, the compulsory education requirement is about to leap from 3 units to 18 units. This is to become an agents representative, the minimum requirement to work in the industry. And the price will also increase by about sixfold. If you’ve always thought...
The Coronavirus Property Bounce
Far from the price collapse predicted 12 months ago, our property market is currently showing extraordinary strength. Whilst Melbourne is still behind the national averages, due to our prolonged lock-downs and business disruption, we are recovering quickly. Price...
Time To Look Forward
We are all still a little shell-shocked by the incredible events of 2020. For Victorians, we have lived with a mixture of disbelief (a little fear) and frustration. We have, for the most part, accepted restrictions on our lives and liberties that would have simply...